Chen Arad is currently Chief Marketing Officer for Solidus Labs, a cryptocurrency compliance and AML solution provider based in New York . A native of Israel, he served as spokesman for the Israeli army. Since then, he has worked as a lecturer and writer for media and political science at the University of Florida. After joining Solider’s Lab, he is a founding member of the Global Digital Finance (GDF), a non-profit organization that writes the Code of Conduct for the digital asset industry. Trying hard.
What do you think about the recommendations made by the FATF last June at the General Assembly?
“FATF’s recommendations have been confirmed by the G20 countries and are already being implemented. We welcome the efforts to introduce FATF’s global financial regulatory standards into the digital asset arena and to improve market transparency and integrity. Solidus Lab’s role is to help by providing compliance solutions among regulatory and digital asset innovators. Regulatory regulations in the crypto industry will be tightened in the future. We look forward to working with industry and regulators to set standards and better crypto asset policies through DAXPO. ”
In describing Solidus, what does it mean to use the concept of RegTech?
“Simply speaking, technology related to regulation. This means technology that helps companies communicate and interact with regulators to comply with government regulations . This is especially important when regulators deal with emerging technologies such as blockchain and digital assets. For example, it is estimated that 70-90% of the trading volume is currently manipulated in major cryptocurrency markets. In this situation, regulators will never approve crypto assets. SolidusLab’s crypto-assets LegTech solutions will bridge the industry and regulators by addressing compliance issues with digital assets that are fundamentally different from existing financial assets. ”
How would you rate your participation in DAXPO?
“In addition to Legtech, which helps improve the integrity and compliance of the digital asset market, new standards for crypto assets are needed. DAXPO is an important event in which local governments and the crypto-assets industry work together, and will be a meaningful venue for constructive regulation of crypto-assets.