Regulatory Considerations

Adherence to Global Standards

• Cross-Border Compliance: Given the global nature of blockchain and digital assets, ORWA ensures compliance with international regulations, such as the Financial Action Task Force (FATF) guidelines, which set global standards for combating money laundering and terrorist financing.

• Data Privacy Regulations: ORWA complies with data privacy regulations such as the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States. This ensures that user data is handled with the utmost care, with strict controls on how data is collected, stored, and used.

Jurisdiction-Specific Requirements

• Licensing and Registrations: ORWA seeks to obtain the necessary licenses and registrations in each jurisdiction where it operates. This includes licenses for operating as a virtual asset service provider (VASP) or a money transmitter, depending on local requirements.

• The platform assists users in complying with tax obligations by providing transaction records and reporting tools that make it easier to calculate and report taxes on digital assets. ORWA may also work with tax authorities to ensure compliance with local tax laws.

Regulatory Reporting

• Transparency and Reporting: ORWA maintains transparency with regulators by providing detailed reports on platform operations, transaction volumes, and compliance efforts. This proactive approach helps in building trust with regulatory bodies and ensuring ongoing compliance.

• Adaptability to Regulatory Changes: The platform is designed to adapt to evolving regulatory landscapes. ORWA continuously monitors regulatory developments and updates its compliance processes accordingly to ensure that it remains aligned with new laws and regulations.

By integrating these comprehensive compliance measures, including partnerships with reputable platforms like Sumsub for KYC and AML processes, ORWA not only protects its users and their assets but also fosters a secure and legally sound environment for the management and trading of tokenized real-world assets. This commitment to compliance helps in building trust with users and regulators alike, ensuring the platform’s long-term sustainability and success.