Floin Tackles Crypto Compliance by Embracing it: Why More Projects Should Follow Suit?
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
Floin is a fintech project that is building a safe and reliable platform for crypto purchases, sales, and storage. It introduces a new crypto business model where quality and security take precedence over quantity and hype. Let’s find out how the approach works out better in the long run when compared to the popular model of regulatory evasion.
Crypto compliance can get nasty. The Paxos-SEC clash is a recent example. It didn’t just pull down BUSD – the asset in scrutiny – but also most of the market. Even if the projects win the case over time and resume their activities, the repercussions are far-reaching. They create a sense of fear and uncertainty in potential users, hindering the mass adoption of digital assets.
Why do crypto projects choose to circumvent regulations, then? The vaguely defined rules and hostile regulators are partly to blame. But so is the carefree approach of most projects, even when they are sitting on millions in market cap. A single piece of bad news can bring the project tumbling down.
That doesn’t mean crypto projects are inherently unsafe and unreliable, however. Floin introduces a compliance-first business model designed to withstand regulatory storms. Given that there is no better way to tackle compliance than to embrace it, the project instills faith in the future of digital assets.
Floin is a startup based in Liechtenstein. Maybe it’s your first time hearing about this German-speaking, 25 km-long principality between Austria and Switzerland. But it has a unique place in crypto history. Why? It is one of the first countries in the world to recognize the potential of blockchain solutions
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