Paycrest protocol is in an early stage and is designed with a focus on responsible practices, but it is not a regulated financial service. The protocol is open, evolving, and may change as the ecosystem matures.

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Compliance Approach

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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

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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

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Security Measures

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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

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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.