Is Yellow Card Regulated?
Yes. Yellow Card is regulated in each jurisdiction in which we operate.
We work together with local regulators in each of these jurisdictions in order to meet the appropriate legal requirements that is best for ourselves and our customers.
We ensure that we meet all financial services and consumer protection laws in each of these countries.
As the fastest growing crypto exchange on the African continent, Yellow Card is committed to compliance with all applicable laws and regulations regarding Anti-Money Laundering ("AML").
Yellow Card's policy and practice is to try to prevent people engaged in money laundering, fraud, and other financial crimes, including terrorist financing, from using Yellow Card's services. Our rigorous KYC process at each Tier is evidence of this.
Yellow Card is committed to implementing the UN Security Council Resolutions (UNSCRs) for financial institutions.
Amongst other measures, the UNSCRs may impose targeted financial sanctions against specific individuals and entities identified by the UN Security Council (or relevant UN Committees) as contributing to a particular threat to, or breach of, international peace and security.
For instance, there are UNSCRs issued to address risks of proliferation of weapons of mass destruction emanating from Iran and the Democratic People’s Republic of Korea.
Yellow Card gives effect to such targeted financial sanctions under the UNSCRs which require countries to ensure their financial institutions take certain measures.
Since we are focused on Africa and do not currently have any U.S customers yet, we currently file the appropriate tax requirements as we are required to in the US. We are also in the process of getting more regulatory approvals to enable to us expand to more countries and to meet even higher global standards.
If you have any legal concern or inquiry that was not answered above please reach out to our customer support team via [email protected] for immediate assistance.