Compliance Approach
KYC/KYB Requirements
All participants in the Paycrest protocol must complete Know Your Customer (KYC) or Know Your Business (KYB) verification:- Senders: Individual or business verification required
- Providers: Business verification and licensing requirements
- Aggregators: Business verification and compliance oversight
Regulatory Considerations
- Local Compliance: Participants must comply with local regulations
- Cross-Border: International transfer regulations apply
- AML/CFT: Anti-money laundering and counter-terrorism financing requirements
- Data Protection: GDPR and local privacy law compliance
Security Measures
Smart Contract Security
- Audited Contracts: All Gateway contracts undergo security audits
- Multi-Signature: Critical operations require multi-signature approval
- Timelock Mechanisms: Protocol upgrades have built-in delays
- Emergency Pause: Ability to pause operations in security incidents
Infrastructure Security
- High Availability: Redundant infrastructure for reliability
- DDoS Protection: Protection against distributed denial of service attacks
- API Security: Rate limiting, authentication, and encryption
- Data Encryption: All sensitive data encrypted in transit and at rest
Paycrest protocol is not a licensed financial institution. This documentation does not constitute legal or regulatory advice. Compliance requirements and security practices may change as the protocol evolves.