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Cryptocurrency Compliance for Acquiring Banks

We have launched our new Regulatory Monitoring solution to enable acquiring banks and  payment service providers to comply with the latest Mastercard rules concerning cryptocurrency merchants.

 

One of the key features in Mastercard’s new on-boarding and monitoring requirements for cryptocurrency merchants is the need for acquirers to procure a legal opinion from a “reputable law firm located in each country where cryptocurrency activity will occur or be offered to cardholders”. This poses some serious challenges to acquirers: high expenses – especially for merchants operating internationally, legal documents that have to be frequently updated,and last but not least, the research effort to identify reputable international law firms all around the globe.

 

Regulatory Monitoring addresses each of these problems by offering access to a legal library that encapsulates the legal frameworks of all relevant jurisdictions concerning cryptocurrencies. This database is managed by our partner law firm – WLAW Wołoszański& Partners Law Firm who assesses the legality of the most common business models employed by cryptocurrency merchants, depending on the jurisdiction.

For more information, please review the brochure or contact us.

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