Your path to compliance accreditation
Getting a merchant account with an acquiring bank or demonstrating your compliance to other organisations has always been a challenge for cryptocurrency businesses.
Meet your on-demand legal team
CompliancePass is your sure-fire way to prove your cryptocurrency business is compliant with local laws and industry rules. Through our platform, you communicate with a team of international legal experts and compliance analysts that will guide you through the process.
The result is a comprehensive legal opinion detailing how your business meets laws in the jurisdictions you want to operate in as well as industry standards like card scheme requirements. We make you ready to work with even the most demanding organisations.
How do you stay compliant?
CompliancePass is more than a one-time legal analysis. We re-certify you every month and constantly monitor the regulatory landscape for changes that might impact you. If we notice any changes, you will immediately be notified and our team will work with you to keep your compliant in every area.
Multiple use cases
Card scheme compliance
Demonstrate to acquiring banks or other payment processors that you comply with the rules of Mastercard, Visa, or other card schemes.
Acquirer compliance
Banks often have individual requirements, based on their risk appetite and internal policies. We tailor our analysis to them for you.
App marketplace compliance
Establish your compliance with Apple, Google, or other providers of digital marketplaces and make your app available for everyone.
Seven steps to accreditation
Web Shield simplifies card scheme compliance and accreditation, guiding users through seven steps. From initial assessment to achieving full compliance, our expertise ensures businesses meet the necessary requirements for secure and trusted transactions.
Step 1
Every business is different. Our team of compliance analysts will take a close look at your case and prepare you for the process.
Step 2
Based on the initial consultation, we will request all necessary documents from you through our platform. This includes incorporation documents, licenses, AML documents, and more.
Step 3
To properly assess your compliance, we need information about your business model, security practices, and more. If anything is unclear, our experts are always there to clarify.
Step 4
Our team reviews your website and merchant data to conduct a deep background check that is modelled after the thorough underwriting best practices of the financial industry.
Step 5
Our underwriters perform practical checks to ensure your Know Your Customer (KYC) routines are in accordance with anti-money laundering (AML) rules.
Step 6
In parallel, our legal experts review all submitted documents and verify the facts given against your website and actual business conduct.
Step 7
Based on all prior analysis, we prepare a bespoke legal opinion tailored to your organisation that includes expertise from partner law firms from all over the globe.
Your certificate of compliance
If you have successfully completed the assessment, you will obtain a certificate of accreditation that confirms your compliance with all relevant rules and regulations.
Experts in law, with an extensive network
Wołoszański & Partners, comprised of lawyers with extensive expertise in cryptocurrencies, is Poland's only law firm member of the Alliott Global Alliance. This prestigious alliance has earned the highest band (Band 1) of Law Firm Networks in Chambers and Partners’ ranking of Global Market Leaders for 2023.
The firm has been named the 'Global Winner' in the 'Innovator' category by the Alliott Global Alliance, distinguishing itself among some 220 member firms worldwide. This distinction particularly acknowledges their contribution to the development of CompliancePass as a pioneering product in the RegTech market.
FAQs
You still have questions? Take a look at our FAQs for more information about our crypto compliance solution.
It is a product which delivers an individual assessment of your organisation’s legal compliance, especially in accordance with Mastercard regulations regarding cryptocurrency merchants according to Mastercard’s revised standards laid out in their bulletin announcement AN 5927. The CompliancePass methodology is based on comprehensive legal and IT due diligence by Web Shield in cooperation with Wołoszański & Partners Law Firm. The law firm is also responsible for preparing a final legal opinion assessing the organisation in question. The knowledge for the assessment is based on cooperation with reputable partner law firms from all over the world. Our legal database is regularly updated and the legal status in the available jurisdictions is reviewed on an ongoing basis.
In addition to the Mastercard requirements, the legal opinion can also be tailored to the requirements of an individual acquirer or other organisation if these are presented by the client at the contract stage
The current version of CompliancePass supports merchants as clients. Also, note that the resulting legal opinion is addressed to the bank in the name of the merchant. Nonetheless, we are already working on expanding the scope of the platform to give acquirers and PSPs access. If you want to support the development, register your interest, or find out how you can benefit from CompliancePass right now, feel free to reach out.
Mastercard in general does not provide any feedback on our legal opinions but has agreed that the structure of the solution available through CompliancePass fully complies with the requirement outlined in the AN 5927 Revised Standards for Specialty Merchant Registration Requirements for Cryptocurrency Merchants.
As a part of our service, we conduct monthly monitoring, which entails a check-up of the regulatory landscape, notifying you about any relevant changes, testing your KYC processes, checking for changes in your licensing status, and continuous content screening on your website (e.g., in the terms and conditions), among other things.
All 27 EU Member States – Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, as well as the following countries: Belarus, Liechtenstein, Russia, Switzerland, Turkey, Ukraine and the United Kingdom, which is 34 in total.
Currently 13 countries: Australia, Brazil, Canada, India, Japan, Kazakhstan, Malaysia, Mexico, Nigeria, Singapore, South Africa, Taiwan, and Thailand.
Get legal certainty for your crypto merchants
Take advantage of our staff of lawyers and high-risk underwriters to navigate the treacherous waters of cryptocurrency legislation.