justar

bridging culture finance web3 | CMO and co-founder of @micapassapp
| co-founder and dfntl not a CEO of four kids |

[justar @justarzs]

@OnchainHQ GM

[micapass @micapassapp]

Soon we are entering the final month before the Markets in Crypto-Assets (#MiCA) regulation takes effect on December 30, 2024.

This regulation will establish a unified framework for crypto-assets across EU member states. Are you ready?

[justar @justarzs]

The Future with Blockchain: Lithuanian XRPL Meetup, hosted by Axiology, @superhow_com @xpmarket and @xrpl_commons

I presented @micapass, had inspiring conversations with some of the brightest minds in the blockchain world.

[micapass @micapassapp]

In a bear market, regulatory clarity becomes even more crucial for the crypto space.

With decreased market activity and investor sentiment low, clear and consistent regulations can help build trust and stability.

[micapass @micapassapp]

🥳Today is the day! We are pitching at @bcfounders
Season 5 Demo Day

We start soon!

You can watch it LIVE 👉https://t.co/ygvIFHLdpu

[micapass @micapassapp]

Last year, we were hunting for investment in the Baltics. We got it, made a push, and are happy with what we have. The next round begins now.

We’ll pitch at the @bcfounders Season 5 Demo Day on 20 June! 🤞
#web3 #startup #entrepreneur

[micapass @micapassapp]

🤝 We are thrilled to announce our partnership with Byzantine Finance!

👉@Byzantine_fi is the first diversifiable, white-label restaking aggregation infrastructure.

📊 With this partnership, we aim to create a safer blockchain economy through crypto #AML compliance, blockchain analytics, and illicit asset tracing.

⚙️ Micapass is on a mission to ensure full compliance with #web3, and our partnership with Byzantine brings us a step closer to achieving this goal.

[justar @justarzs]

I was browsing through Paris Blockchain Week's selected 100 startup web pages to gather valuable information. I present to you the winner of the best hashtag #web3 content.

[justar @justarzs]

As you notice—I am bold. But that's not why I will be speaking on the BOLD stage at @Latitude59, a startup and tech event.

@micapassapp was selected as one of the best startups in the Baltics. So, I will be sharing our experience of building the startup at the Best of Baltics showcase on May 24th, live in Tallinn.

Thank you, Karma Ventures, for the selection, and see you there

[micapass @micapassapp]

Get #AML report today – stop worrying about tomorrow! Introducing MICARISK – AML Compliance Audit for #DeFi protocols.

Get a comprehensive AML Compliance Audit risk assessment by sharing your smart contract address — understand and mitigate the risks you face daily. As a DeFi builder, protect yourself, your funds, and your investors by monitoring transactions and understanding the source of funds.

"In light of recent events with CZ being forced out of his company and getting jail time, we see a shift in the market. Compliance is important. So we introduce Compliance audit – with this, you can understand how much of your funds are illicit and, to put it simply, avoid jeopardizing your brand and police knocking at your door" says @GintareBudr, CEO & Co-founder of @micapass.

Use Micarisk for:

✅  Screening whitelisted wallets for risk mitigation
✅  Private sales, TGE, and post-TGE audits
✅  Proactive risk management during investor onboarding
✅  Address screening for fee collection
✅  Comprehensive risk mitigation for DeFi protocols
✅  Plus additional applications

Check it out – https://t.co/FjzqkXzs8n

[micapass @micapassapp]

We are happy to announce our partnership with CHAIN COMPLY, a source of funds investigation tool. Our collaboration aims to combine our expertise and create an advanced solution, specifically targeting scam money laundering detection.

“Crypto markets are evolving rapidly, with a greater emphasis on safety and compliance. The partnership between "Micapass" and "ChainComply" allows both companies to offer a comprehensive solution for the evolving landscape of compliant crypto markets,” says @GintareBudr CEO and Co-Founder of @micapassapp .

"Micapass and ChainComply are joining forces to revolutionize the crypto hashtag#AML landscape. While both companies excel in providing robust AML solutions, Micapass caters specifically to the DeFi sector, and ChainComply serves traditional financial institutions. This strategic partnership bridges the gap, offering unparalleled AML coverage for both segments of the financial world. We are excited to embark on this journey together, shaping a more secure and transparent future for the entire crypto ecosystem", - says Lukasz Lukaszewski CPO and Co-founder ChainComply.

[justar @justarzs]

@GintareBudr True that.

[micapass @micapassapp]

Why does wallet screening alone fall short in #DeFi? Let’s construct a very possible storyline.

A newcomer is successfully onboards through Micapass. The wallet appears spotless, and they pass all necessary #KYC checks. There is no evidence of the individual being flagged on any sanctions, PEP (Politically Exposed Persons), Negative media, etc., lists, allowing them to be granted full trading privileges within the Micapass ecosystem.

Yet, a few months down the line, the situation takes an unexpected turn: the individual is placed on a sanctions list. Despite the major update, the user continues trading with their unhosted wallet on different DeFi protocols, far from Micapass's influence.

This is precisely the gap Micapass aims to bridge. Our platform is designed for ongoing crypto #AML & KYC/AML monitoring, ensuring that the instant an individual or their wallet is flagged (either on a sanctions list or otherwise), their Micapass verification is immediately withdrawn, effectively blocking any further transactions. This process is fully automated, eliminating the need for manual oversight. As a result, all DeFi protocols within our ecosystem are safeguarded.

The conventional approach of a single wallet screening or initial KYC process does not meet the dynamic needs of today's crypto environment. Micapass offers a robust solution, providing deep insights into both the wallet and its owner's status within the DeFi space. This dual-layered approach is crucial for maintaining true regulatory compliance in the sector.

[micapass @micapassapp]

A little more than one-third of people think that KYC is incompatible with #DeFi, while the other two-thirds believe it is either inevitable or depends on regulatory pressure, according to a poll by @Cointelegraph .

A few years ago, the sentiment was the opposite, with more people thinking it was impossible to make KYC mandatory in DeFi. We are heading in the right direction.

[Gin @GintareBudr]

🚨 Cautionary Tale Alert! 🚨 Imagine raising $3.5 million, only to find out over 50% is untouchable due to AML issues. 🤯 Learn from a real case: after a successful token round, a company faced frozen funds tied to sanctioned entities.

🌐 The Process: TGE > Investor Contributions in excel sheet > Post-TGE Actions - transferring the funds to exchange account > Shock: funds frozen during transfer for operational expenses.

🔍 The Mistake: Neglecting AML compliance – treating funds like a mystery bag without checking origins. A major oversight experienced by our client.

💡 The Lesson: Don't rush innovation at the cost of due diligence. AML checks aren't just formalities; they're vital for legality.

#defi #cryptoregulations

[micapass @micapassapp]

The saying goes, "If it's in the news, you're already too late." #MiCA and all the #AML compliance measures for #crypto are already in place. The time to prepare for them is not 2025, nor early spring or late autumn. It's now!

[justar @justarzs]

@Signum_Capital Thanks. I also wrote a DM for you guys. Please check.

[justar @justarzs]

@DegenSensei There are much better ways to tackle sybiling and other bot/human related problems than NFT. Like the ones with digital identity solution with multiple purposes.

[justar @justarzs]

@0xSalazar Also true:

[justar @justarzs]

@Signum_Capital @RubyProtocol Hello! Check you DM please. Thank you.