DeFi can become a safe and profitable environment for all.
Astra can give some certainty.

Astra uniquely provides a way for decentralized organizations to comply with rules and regulations worldwide while remaining decentralized. At a pivotal time for the crypto world, Astra can give some certainty.

DeFi platforms offer higher yields than traditional financial platforms, making them very attractive to users. A staggering 11% of young Americans invested their stimulus checks into cryptocurrency platforms, showing just how prevalent the technology has become. Innovative as decentralized finance is, the world of crypto is still in its infancy. With the rise in popularity comes an increase in hacks and other types of criminal activity, which authorities are keen to stamp out. Regulatory bodies are already getting their teeth stuck into those that appear to flout the rules. On 10 August 2021, the cryptocurrency derivatives trading platform, BitMEX, was ordered to pay $100 million in a civil monetary penalty. Acting director of enforcement at CFTC, Vincent McGonagle, says, “Cryptocurrency trading platforms conducting business in the U.S. must obtain the appropriate registration and must implement robust Know-Your-Customer and Anti-Money Laundering procedures.” If they don’t, they’ll pay the price.

Astra is a fully decentralized platform that performs the required KYC, AML, and other compliance checks on behalf of lending and borrowing applications and other DeFi protocols.

In a speech made before the European Parliament Committee on Economic and Monetary Affairs, Chair of the U.S. Securities and Exchange Commission (SEC) Gary Gensler said, “absent clear investor protection obligations on these platforms, the investing public is left vulnerable. Unfortunately, this asset class has been rife with fraud, scams, and abuse in certain applications.”

He goes on to say, “for those who want to encourage innovations in crypto, I’d like to note that financial innovations throughout history don’t long thrive outside of public policy frameworks. In finance, that’s about protecting investors and consumers, guarding against illicit activity, and ensuring financial stability.”

The message is clear, by following the rules and regulations set out for traditional financial institutions, DeFi can become a safe and profitable environment for all. However, the challenge of achieving compliance in a decentralized world is still a significant hurdle. Fortunately, Astra is here to help. Astra is a fully decentralized platform that performs the required KYC, AML, and other compliance checks on behalf of lending and borrowing applications and other DeFi protocols. Our technology allows decentralized organizations to comply with rules set out by the SEC and other regulatory bodies across the world without compromising the notion of decentralization. We aim to create a financial world that protects investors and consumers, enabling innovative platforms to flourish.
['Astra Protocol']
['Compliance', 'Crypto', 'Blockchain Technology', 'Defi']