FATF Crypto Travel Rule Compliance Statement
At SOLIDUS, we are committed to upholding robust compliance standards in accordance with global Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations, including guidance issued by the Financial Action Task Force (FATF).
Understanding the FATF Crypto Travel Rule Requirement
The FATF Crypto Travel Rule (Recommendation 16) requires Virtual Asset Service Providers (VASPs) to collect, maintain, and transmit specific originator and beneficiary information when facilitating transfers of virtual assets between VASPs, particularly for transactions equivalent to or exceeding USD/EUR 1,000.
SOLIDUS’s Operating Model and Applicability Assessment
Following a thorough review of SOLIDUS’s Launchpad platform operational framework, and in alignment with FATF guidance and relevant local regulatory interpretations, we can confirm the following:
• SOLIDUS facilitates token staking exclusively via user-controlled, self-hosted wallets (e.g., MetaMask).
• Users retain full custody of their private keys and digital assets throughout the staking process.
• Staking-related transactions occur between the user’s own non-custodial wallet and the blockchain-based staking smart contracts.
• Upon completion of the staking period, any rewards or returned tokens are transferred back to the same self-hosted wallet.
• SOLIDUS does not function as a custodial wallet provider, nor does it facilitate VASP- to-VASP transfers involving third-party custodians.
FATF Crypto Travel Rule Non-Applicability
Based on the above assessment, transactions facilitated on the SOLIDUS’s Launchpad platform do not meet the FATF’s criteria for Travel Rule applicability, as they:
• Do not involve two or more VASPs;
• Do not involve the transmission of virtual assets between custodial wallets;
• Are executed by users through self-hosted wallets, with no custodial involvement by SOLIDUS.
As a result, SOLIDUS is not required to comply with the FATF Crypto Travel Rule in its current operational structure.
Our Ongoing AML/CTF Commitment
Although the FATF Crypto Travel Rule does not apply to our platform’s staking activities, SOLIDUS maintains a proactive approach to compliance by implementing the following measures in accordance with global AML/CTF best practices:
• Customer due diligence (CDD) and Know-Your-Customer (KYC) procedures;
• Risk-based internal controls;
• Ongoing compliance reviews and monitoring.
At SOLIDUS, we continuously assess evolving regulatory frameworks to ensure that our policies, systems, and operations remain fully aligned with applicable laws and global compliance standards.