KYAX collaborates with ANNA and DTIF 18 July 2024UK Reporter: Klea Neza
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KYAX, a digital asset financial reporting tool, has partnered with the Association of National Numbering Agencies (ANNA), and the Digital Token Identifier Foundation (DTIF).
The partnership will allow the implementation of the ISO 24165 Digital Token Identifier (DTI) and ISO 6166 International Securities Identification Number (ISIN) standards in the digital asset space.
The firms say this milestone aims to enhance transparency and efficiency in regulatory reporting.
By combining the golden source of unique identification of digital tokens with a digital asset reporting tool, the firms say regulated crypto-asset issuers and service providers will be able to stay compliant with minimal effort.
Through integrating KYAX's AI enabled, post-trade regulatory reporting tool with the unique identifiers provided by ANNA and DTIF, the integration aims to simplify the process of adhering to digital asset reporting requirements.
In addition, KYAX will incorporate DTI into its regulatory reporting tool. The entities note their commitment to implementing MiCA approved reporting frameworks, using DTIF standards that will enable mandatory regulatory compliance for digital asset companies.
Matthew de la Fuente, CEO of KYAX, comments: ”This collaboration sets a new standard for regulatory reporting excellence in the digital asset space, and we look forward to ensuring support for MiCA compliance for every party and counterparty with the click of a button.”
Stephan Dreyer, managing director at ANNA, says: “Since inception, the ANNA and DTIF partnership that aligns new ISINs with DTIs has driven cross industry awareness and adoption of market standards that support market transparency, efficiency and growth. We are delighted to be working with KYAX to facilitate greater integration within the wider digital asset ecosystem.”
Denis Dounaev, DTIF product owner, adds: “By aligning our efforts with ANNA and KYAX, we are ensuring that digital assets are seamlessly integrated into mandatory reporting. This will foster greater trust and adoption among regulators and the traditional financial system.”
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