VALLETTA, Malta--(BUSINESS WIRE)--KuCoin Labs, the investment and research firm spun out of crypto exchange KuCoin, and VAIOT, a blockchain and AI-powered services business, have jointly launched the Digital Assets Regulation Institute (DARI) to promote industry-led crypto regulation. VAIOT is one of Europe's first fully regulated crypto companies, regulated since September 2020 under strict Maltese legal scrutiny, and with oversight exercised by leading accounting and advisory firm Grant Thornton.
DARI aims to be at the forefront of establishing regulatory clarity in an industry that has not been able to work with regulators effectively enough. It aims to gather relevant stakeholders, including regulated companies, consulting firms, financial and security auditors, accounting companies, law firms, and VCs, to conduct research and produce reports that will inform government policy across the globe. Projects seeking to be regulated will be able to participate in consultation and incubation with DARI's institutional partners, and the institutional partners will act as consultants for the think tank.
COO of VAIOT and President of DARI, Pawel Andruszkiewicz, highlighted that "it’s our goal at DARI to ensure effective regulation is at the forefront of the way we think about this industry going forward."
Wayne Pisani, Partner and Head of Tax, Regulatory, and Compliance at Grant Thornton, emphasized that effective regulation requires a bottom-up approach, where companies and entities within regulatory frameworks can openly share their opinions and expertise with regulators. Pisani noted that this is precisely what the new Digital Assets Regulation Institute (DARI) aims to achieve, by bringing relevant stakeholders together to conduct research and produce reports that will inform government policy across the globe.
DARI is supported by members of Grant Thornton Malta’s tax, regulatory, and compliance practice, and KuCoin Labs brings significant industry expertise to the think tank. KuCoin Labs is known for its experience in research and incubation of Web3 projects and is also keen to create regulatory synergies among countries and markets, making them relevant and tangible to all participants.
Lou Yu, Head of KuCoin Labs and Vice President of DARI, emphasised the importance of joining a strong industry force to ensure optimal development conditions for future crypto builders and users. DARI will put efforts into the submission of an official proposal to the European Commission and engage in regulatory hearings with relevant European institutions.
DARI aims to provide a bottom-up initiative, where companies and entities working within regulatory frameworks can share their opinions and expertise with regulators in a public manner, creating optimal development conditions for future crypto builders and users.
For more information, visit https://www.darilabs.io.
About VAIOT
VAIOT combines artificial intelligence and blockchain to create new ways of digitally accessing services and securely concluding legal agreements using a natural user interface. VAIOT enables both businesses and consumers to utilize a set of technologies called Intelligent Contracts. It serves as a personal assistant, available on mobile devices via a simple natural user interface providing AI-based legal services. The company also offers a novel, intelligent service-distribution channel that empowers businesses to adapt to modern customers by providing a new way of accessing services. For more information go to www.VAIOT.ai
About KuCoin Labs
By rebranding and restructuring KuCoin primary market investment and research arm in 2021, KuCoin Labs diversified and intensified investments at the very early-stage of projects and helped more BUIDLers achieve sustainable growth and success in the decentralized world.
In 2022, KuCoin Labs doubled effort on Web3 start-up incubation. Gathering internal and external top experts and partners in different project development segments and offering bespoke advisory service within long-tail strategic partnerships.