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Fastex opens an office in Los Angeles thanks to its "loose" cryptocurrency policy.
The cryptocurrency exchange Fastex, based in Dubai, has announced its expansion into America with a new office in Los Angeles, offering spot trading services for tokens such as Bitcoin, Ethereum, Solana, Cardano, and the native token Fasttoken.
According to Mr. Vardan Khachatryan, the legal director of Fastex, the decision to expand into America was driven by changes in cryptocurrency policy under President Donald Trump, although there is still no specific legal framework. He stated that the SEC has significantly reduced investigations and lawsuits, making it easier for crypto companies.
Although evaluating New York as a suitable place to establish headquarters, Fastex still chose Los Angeles because the BitLicense from NYDFS is too difficult to obtain. New York Mayor, Eric Adams, has also called for the termination of the BitLicense regulation at the Bitcoin 2025 event in Las Vegas.
Fastex is seeking an operating license from the Dubai Virtual Asset Regulatory Authority (VARA), and plans to expand into Latin America, starting with Brazil, followed by Argentina and Mexico.