DISCLAIMER

Our organization expects clients to demonstrate a profound understanding of the responsibilities inherent in managing a financial institution, including the imperative adherence to all pertinent laws and compliance regulations.
Clients are also expected to maintain adequate financial and human resources and assume responsibility for the availability and accuracy of data provided during the acquisition, registration and on-boarding processes.


While a physical office in Canada or Europe and an AML/MLRO officer are not initially mandatory, they may become prerequisites for future operations and successful client’s business onboarding with third-party financial institutions. Clients should be prepared to meet these requirements and act upon it.


Failure to comply with these prerequisites may result in significant impediments to the establishment of a financial institution, hinder cooperation with service providers, and potentially lead to legal ramifications and financial losses.
In the case of the MSB (Money Services Business) License, it allows for operations and client onboarding without geographical constraints. However, specific services, countries, industries, or individuals may be subject to restrictions imposed by financial service providers. To tailor a solution that aligns with your intended business model, we require a deeper understanding of your operational scope and goals.


Additionally, for clients seeking VASP (Virtual Asset Service Provider) licenses, meticulous attention to technical aspects is essential. The rapidly evolving nature of the cryptocurrency landscape and regulatory requirements demands a proactive approach. Clients are expected to stay informed about the latest developments, adopt robust anti-money laundering (AML) and counter-terrorist financing (CTF) measures, and adhere to the highest standards of cybersecurity. Failure to meet these requirements may have severe consequences, including the revocation of the VASP license.

Our organization is committed to providing guidance and support throughout the licensing process, but clients are ultimately responsible for ensuring ongoing compliance and operational integrity. We strongly recommend seeking legal advice to navigate the intricate regulatory landscape and to address any specific nuances related to your business model and geographical scope.