Introducing Tacen Compliance
Tacen was born in the middle of 2019. We kept building right through the crazy summer of 2020 and we continue to be on the forefront of the crypto world in this time of increasing regulation. Tacen has seen a lot; We have seen old issues entrench themselves in the space and novel issues pop up with each cycle. Because of this, we have had the ongoing need to solve crypto-native problems to keep going forward, the biggest one being regulatory compliance in the crypto space.
We have seen the eyes of the regulatory agencies of the world turn around to look at cryptocurrencies with a desire and pressing need to understand them. In 2021, many state officials globally have not only commented on it but have become part of the community. This is happening throughout the world, at a fast pace, and at the same time.
It’s no secret that Tacen’s hDEX architecture, with centralized order management and decentralized settlement is an amazing solution to a deep issue: letting users keep custody of their own assets while enjoying state-of-the-art speeds for trading, all this while trading on an exchange that remains compliant in both the U.S. and the E.U., which brings us to the main point of this article: We have understood for some time now exactly where the crypto space is heading and what is needed to preserve the core mission of crypto tech. We can finally and confidently announce our mission:
Tacen is developing compliance software for a well-regulated crypto space.
Why? Because Tacen is here for the long run. Throughout the past two and a half years, we have seen world-leading regulatory agencies develop their knowledge of crypto. However, knowledge development inevitably brings new regulations and a more pressing need to remain compliant. Tacen has made a point to invest heavily in a strong legal and research team to be able to keep up with compliance trends in the U.S. and around the world.
The story goes like this: we have the best of the most experienced engineers working in crypto, led by our CTO, Clarence Liu, and a heavy-duty legal team led by our CCO, Jorge Pesok, highly experienced in the crypto-compliance space. We combined knowledge of the two current most pressing needs of the market: state-of-the-art technology know-how and highly advanced legal knowledge. We are the first pre-product company to be admitted to the vitally important Blockchain Association in its history.
People are beginning to take notice and recognize exactly what we offer to the space. Tacen is in a unique leadership position in the crypto space, and we have only just begun.
We are incredibly excited to announce our new suite of products, silently being developed for the past year concurrently with Tacen’s legal first hDEX: Tacen Compliance, an all-new, much needed hub for all of your crypto-compliance needs.
Tacen Compliance was born out of need. The team of a project with which we are well acquainted, Project TXA, approached us and noted the extreme difficulty in trying to manage a token sale across the world, remain compliant, and still have time to build. “I am trying to run a fintech business and I am spending 70% of my time managing purchases for my token launch” we were told.
Tacen has long made a priority to maintain a deep and extensive know-how of regulatory environments across the world regarding the crypto space. So, we sprang into action. We designed the foundations of what became Tacen Compliance. We helped TXA manage an extensive purchaser verification and accreditation process from people across the world. Project TXA was able to handle their token sale effectively and concisely with minimal stress and pressure while remaining compliant in some of the most scrutinized regulatory environments in the world.
Since then, Tacen has expanded the idea for Tacen Compliance to a full end-to-end token issuance suite: it covers purchaser KYC/AML, legal document management, wallet validation, automated token disbursement, and long-term storage of documentation for legal audits. It is a purchase lifecycle for companies that want to launch a token in a compliant manner.
The idea of a token launchpad and compliance hub is not a new idea. However, the incumbents have missed the mark. They are too opaque and require companies to blindly trust in their process. Promises are made of being compliant with the law, but with a black-boxed process, how does one truly know what is happening behind the scenes?
Tacen Compliance is an exercise in the old crypto adage: Don’t trust, verify.
It is a framework that provides the industry know-how to allow companies to launch their own digital assets across dozens of regulatory frameworks while maintaining control over the entire process, thus being able to effectively own the issuance process without needing to trust an expensive third-party for compliance needs
Tacen Compliance, like the hDEX, is a new solution to an old problem, and we are proud to give it to the world. Those who have eyes to see know that crypto is here to stay, and Tacen is here for it. We know that our community is going to be as excited as we are with this new solution that promotes and encourages founders to press forward and keep building.
Learn more about our company and team by checking out our website at https://www.tacen.com. For more information on our Compliance product, check out the product page here.
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