Date last revised: May 04, 2022

Thank you for choosing Krypten. The use of Krypten Services is subject to this Anti-Money Laundering and Counter Terrorism Financing (hereinafter – “ML/TF”) Policy (hereinafter – the “Policy”).

  1. Prevention of Money Laundering and Terrorist Financing. Krypten is committed to complying with applicable laws aimed at combating illegal activities, including ML/TF, as well as rely on best international and national practices to effectively identify and manage the risks of any illicit activities to which we may be exposed. We do our best to keep our accounts and customers protected from flow of illicit funds.
  2. Customer Due Diligence. Krypten follows our internal procedures and best practices to identify and verify our customers before a business relationship is established. We will require your personal information for customer due diligence purposes to the extent we deem necessary. This may include a copy of your ID document, a proof of address, corporate documents, etc. We may obtain this information directly from you, a third party or, where applicable, from a reliable and independent source. More information on how we handle your personal data can be found in our Privacy Policy. The extent of customer due diligence measures may vary depending on the Services used by you and your customer risk-profile. At our sole discretion we may decide what we consider high risk and what is our risk appetite. We may also decide to take additional measures and carry out Enhanced Customer Due Diligence and collect additional information about you, such as, information about source of funds / wealth, etc.
  3. Monitoring and Ongoing Customer Due Diligence. Krypten undertakes ongoing monitoring of your transactions and overall behavior while using our Services. To ensure your information is up to date during our business relationship, we may occasionally request you to provide updates on your personal data. Following applicable ML/TF prevention laws, Krypten might put a transaction or your account on hold for further investigations to protect you and Krypten from any illegal activity.
  4. Acceptance of Virtual Asset payments. Krypten, currently, only accepts Virtual Asset transactions from other Virtual Asset Service Providers (VASPs) and only for selected Virtual Assets. The list of supported Virtual Assets might change at our sole discretion.
  5. Storage of Personal Data. Krypten will store your personal data collected for the purposes explained in this Policy for minimum of 5 years from the date of termination of our business relationship. More information on collection and storage of personal data can be found in our Privacy Policy.
  6. Reporting. We put our best efforts to protect you and Krypten from any illicit activity. To ensure this, we take all necessary measures that any suspicious activity is identified, investigated, and if deemed necessary reported to the responsible authorities. As a regulated company, we may be required to provide your personal data to authorized institutions responsible for the prevention of ML/TF, law enforcement agencies or tax authorities.
  7. Obligations and Responsibility. We do our best to comply with the applicable laws and our internal policies as well as to provide you with the best customer experience using our Services. We also expect you to responsibly follow your obligations towards Krypten. We reserve the right not to establish business relationship, cancel an established relationship or cancel your transactions, if, when required, you:
    • Fail to submit data confirming your identity;
    • Submit insufficient data or data that is incorrect;
    • Avoid submitting information required for establishing your identity;
    • Conceal the identity of the beneficial owner or avoid submitting information required for establishing the identity of the beneficial owner or submitted data is insufficient for that purpose, or
    • If we cannot ensure that all legitimate requirements are fulfilled.

If we suspend your account and/or transactions and/or terminate business relationship and/or take any other action we deem necessary to manage ML/TF risk, we will not be responsible for non-fulfilment of our obligations to you and for the damage caused by non-execution of your transactions.

  1. Your Acknowledgement. By using Krypten Services you confirm that:
    • You have read, understood, and agree with this Policy;
    • All the data you provide to us with before the start of our business relationship and afterwards is and will be correct, and;
    • You understand all your obligations and the consequences of your failure to fulfil them.