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Crypto regulatory compliance automation firm Astra raises US$9 million in a private token sale

The Astra Protocol aims to automate crypto trade regulatory layers (image: Astra)
The Astra Protocol aims to automate crypto trade regulatory layers (image: Astra)
The cryptocurrency regulation requirements will only grow with time, and there are now services like the Astra Protocol that are offering automated compliance layer over digital asset trades. To continue its development, Astra has raised US$9 million in a private token sale from notable investors like Republic, DAOMaker, Fundamental Labs, Faculty, Richard Dai, and Wave GP Cardano. The Astra regulatory layer has built-in Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) compliance abilities.

The crypto regulation headwinds will have predictable outcomes, and one of those is the proliferation of automated compliance services. One of them, Astra, just announced it has raised US$9 million in a private token sale for the development of its patented compliance protocol. The protocol aims to add an automated DeFi regulatory compliance layer to trades on crypto exchanges in order preempt whatever is coming for cryptocurrency miners and traders in terms of Treasury regulation guidance in 2022. The protocol "offers legal assurance, framework, dispute resolution, and regulatory compliance for lending and borrowing, derivatives, stablecoins, asset management, decentralized insurance, and decentralized exchanges," says Astra. Its co-founder Arthur Ali commented on the successful financing round:

We are extremely pleased to announce the closure of our token raise and proud to announce strong backing from the top tier investment groups and individuals such as; Republic, DAOMaker, Richard Dai, Fundamental Labs, and institutional backing. We firmly believe that ASTRA is key to the future of DeFi. It will allow us to unlock the next path of growth in the industry, allowing more compliant practices across multiple countries and ensuring further participation from major traditional institutions. Our globally patented technology will seamlessly allow DeFi to continue its growth whilst promoting greater confidence from regulators without compromising decentralization.

The Astra Protocol layer has built-in Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) compliance capabilities. "Moreover, the compliance layer can act as a tool to resolve any real-world compliance issues with the help of various renowned legal firms," adds the Astra team and continues that "without a compliance layer, developers and users may lose control of the ecosystem."

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The Astra Protocol team promises seamless regulatory compliance for crypto trades

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Daniel Zlatev
Daniel Zlatev - Tech Writer - 261 articles published on Notebookcheck since 2021
Wooed by tech since the industrial espionage of Apple computers and the times of pixelized Nintendos, Daniel went and opened a gaming club when personal computers and consoles were still an expensive rarity. Nowadays, fascination is not with specs and speed but rather the lifestyle that computers in our pocket, house, and car have shoehorned us in, from the infinite scroll and the privacy hazards to authenticating every bit and move of our existence.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 12 > Crypto regulatory compliance automation firm Astra raises US$9 million in a private token sale
Daniel Zlatev, 2021-12-23 (Update: 2021-12-23)