As a US based entity Seed CX has a variety of Anti-Money Laundering and Counter Terrorism regulations are tied to the following licenses: Swap Execution Facility (CFTC), Introducing Broker (NFA), Money Services Business (FinCEN), and Money Transmitter (over a dozen states, including Delaware, Illinois and Connecticut), and it has a pending BitLicense with NYDFS. Seed CX and its subsidiaries have several programs and policies that work to ensure that Seed is not facilitating money laundering or terrorist activities. The programs and procedures include but are not limited to the following:
- Seed CX has a full Compliance Team with an AML/KYC Analyst that serves to ensure that Seed is
compliant with all legislations, regulation, rules, and industry guidance to prevent money
laundering and terrorist activity.
- Seed CX has a full Know Your Customer program with the collection of information on applicant beginning at on-boarding to the marketplace. This information is reviewed and verified before the any access to the Marketplace is given.
- Once a Participant is granted access to the Marketplace they are reviewed once yearly as a part of the Customer Due Diligence process and those Participants that present higher risk, such as Politically Exposed Persons, are reviewed twice a year.
- Everyday all participants and applicants are scanned through a system which identifies
sanctioned individuals and entities from the watchlists of Australia, Canada, Switzerland,
European Union, Japan, United Nations, United Kingdom, and United States.
- If any money laundering or terrorist activities are suspected this information is shared with the relevant authorities such as FinCEN, which is a part of the U.S. Department of Treasury.
- All employees of Seed CX and its subsidiaries receive Anti-Money Laundering and Compliance training every year to raise awareness of AML and Compliance policies and programs.