New York, Friday, November 01, 2024 – Web3 company Fastex is actively engaging in compliance initiatives across multiple global markets.
Reports said that amidst the upcoming rollout of Europe’s Markets in Crypto-Assets (MiCA) regulation, Fastex is making strides in aligning with these standards, highlighting the importance of regulation in the crypto world.
At the DACOM Summit in New York, Fastex’s Chief Legal Officer, Vardan Khachatryan, emphasized the role of compliance in sustaining crypto’s future, sharing a panel with representatives from Binance, Polygon Labs, Paxos, and Solidus Labs.
Khachatryan’s stance on regulation has already yielded results, as Fastex recently secured in-principle approval for a VFA Category 4 License from Malta’s Financial Services Authority (MFSA).
This milestone positions Fastex to deliver a suite of crypto services, including the Fastex Exchange, Wallet, Card, and ftNFT platform, to both retail and institutional investors.
The company has also gained provisional approvals from Dubai’s Virtual Assets Regulatory Authority (VARA) and registration in Lithuania. These efforts underscore Fastex’s commitment to regulatory compliance, which it believes will increase trust, stability, and widespread adoption in the cryptocurrency market.
As MiCA implementation nears, Fastex’s proactive approach to compliance sets a promising example for the cryptocurrency industry.
Khachatryan and Abrahamyan believe that these steps will not only elevate Fastex’s standing but also drive broader acceptance of cryptocurrencies worldwide, paving the way for a more cohesive and trusted crypto ecosystem.
