True Crypto Comply
True Crypto Comply is a legal assistance provider on crypto issues. The rapid expansion of the crypto market carries enormous chances of crypto-related businesses growing, discovering new opportunities and alternative approaches to invent new branches of the crypto field. However, on the other side crypto carries inherent risks, increasing difficulties with the legal framework, financial losses, security issues and uncountable challenges that daily arising.
To grow a successful project, it’s essential to evaluate the following factors: technical background, legal perception of the field and compliance with it, understanding of your risk tolerance and financial goals, stating and following the roadmap, usage of chosen instruments and its’ management. Moreover, it is significant to gather a great operational team that will contribute to the overall success and to find the right assistant who will not only formally perform his duties but also be inspired to help you.
We believe in building lasting partnerships. Our collaborative approach involves working closely with clients to implement strategies and solutions that stand the test of time. We don’t just offer recommendations; we deliver tangible, measurable results. Our focus is on creating value and driving positive outcomes for your organization.
Crypto is a new wave of the future. Stay compliant and create your own assured tomorrow.
Advantages of being compliant:
Legal Protection
Customer Trust
Improved Security
Market Access
Competitive Advantage
Financial Stability
Reputation Management
Risk Mitigation
Issues VASPs face:
Global Regulatory Fragmentation: VASPs often operate globally, and the lack of standardized regulations worldwide leads to challenges in navigating diverse legal requirements and compliance standards in different jurisdictions. In case to be able to stay competitive and attract users, VASPs need to be regulated by the local authorities based on the jurisdictions where services to users are provided. Some jurisdictions require it immediately as the activity begins, and some other jurisdictions only recommend obtaining a license and being regulated by the local responsible authorities.
Regulatory Compliance: VASPs operate in a regulatory environment that is still evolving and varies significantly across jurisdictions. Ensuring compliance with Anti-Money Laundering (AML), Know Your Customer (KYC), and other financial regulations can be complex and resource-intensive. Satisfying the requirements of laws and regulations VASPs are obliged to prepare and follow their inner policies that highlight responsibilities and liabilities.
Customer Onboarding and Verification: VASPs must establish robust processes for customer onboarding and identity verification. Sometimes it is challenging to ensure the users’ data security, gather all necessary information, especially if some jurisdictions have different requirements, and protect VASPs against fees and penalties due to improper data collection or storage. Balancing a seamless user experience with stringent security measures and regulatory requirements can be performed by VASPs themselves or by requesting third-party services.
Lack of Banking Relationships: Many traditional banks are hesitant to establish relationships with VASPs due to concerns about regulatory risks and compliance challenges. This limits the ability of VASPs to access banking services and use banking services for their daily needs. A slight number of traditional banks are technically ready to establish business relationships with cryptocurrency service providers considerably decreasing VASPs opportunities. Third-party service providers can offer crypto-friendly solutions.
Cross-Border Transactions: VASPs often facilitate cross-border transactions, introducing complexities related to different regulatory frameworks, currency controls, and international cooperation. Managing these challenges requires ongoing attention and cooperation with regulatory authorities. Travel Rule is an international compliance tool that needs to be used by VASPs to exchange transactions and users’ information. From 2025 Travel Rule is obligatory for VASPs that operate in the EU.
Transaction Monitoring: Monitoring transactions for suspicious activities is a key AML compliance requirement. Developing and maintaining effective transaction monitoring systems that can adapt to evolving threats is an ongoing challenge for VASPs. Transactions monitoring helps to prevent funds movement from/for illegal activities such as money laundering, the funding of terrorist activity, gambling, child abuse, etc. Using access to third-party databases expands the opportunity to make transactions safer.
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