Kell Canty | Source | Co-Founder and CEO at Verady

KC

Kell Canty

Co-Founder and CEO at Verady
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Kell has over 25 years of experience in technology development and building companies that capitalize on risk, compliance, payments and reporting utilizing advanced technology.

Kell is co-founder of Verady, a blockchain asset verification and accounting technology
company, and leads its product direction and business development efforts. Previously in the blockchain space, Kell started Coinpliance in 2013 as one of the first ventures to advance
regulatory innovation in bitcoin, particularly in the areas of KYC and AML. At that early point, he helped spearhead the formation of the Bitcoin Foundation regulatory affairs committee. He has co-founded multiple fintech startups, including a market-leading real-time identity, credit, and risk assessment company that was acquired by HNC Software Inc., which then merged into Fair Isaac Corporation (FICO.)

Kell holds a Bachelor of Science degree in Computer Science from the Georgia Institute of Technology and lives in Atlanta, Georgia. He is a licensed pilot, advanced scuba diver, and volunteers locally.

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  • Genius Act: Paving the Way for Crypto Innovation in America
    Kell highlights the Genius Act as pivotal, setting stablecoin regulations and enabling equal participation for banks and fintechs. Despite concerns over potential benefits to Trump's family ventures, the bill is expected to pass by June. Kell believes this act positions America as a digital asset leader, bolstering the US Dollar through stablecoin issuers' Treasury purchases.
  • Crypto-Banking Synergy: Regulatory Clarity to Boost Engagement
    Kell predicts increased bank engagement with crypto holders due to regulatory clarity. He highlights the need for robust compliance systems like Ledgible for KYC/AML and KYT. Legal challenges mirror traditional assets, but new IRS rules require adaptation. Upcoming legislative efforts may align with EU MICA regulations, fostering innovation. Kell likens crypto's potential to the Internet's early days.
  • Crypto Legislation Acceleration: Impact on Accounting and DeFi Challenges
    Kell predicts "accelerated crypto legislation" in the US, similar to global frameworks. DeFi tax reporting challenges arise from decentralization, complicating gain/loss calculations. Crypto offers accounting firms a chance to lead with tech innovation, attracting affluent clients and enabling continuous auditing through blockchain.
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  • As more businesses and consumers transact in cryptocurrency, CPA firms need to know how to accurately report it. Unlike wages and traditional investments, there is no equivalent cryptocurrency W2 or 1099B to report cryptocurrency balances and transactions. As a result, the gains, losses and income to report have to be determined.

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