At Cryptobit, we are committed to conducting business in a responsible and ethical manner and complying with all applicable sanctions’ regulations. We strictly adhere to the sanctions programs administered by the United Nations, the European Union, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), Republic of Poland Government and other relevant authorities.
As a regulated Virtual Asset Service Provider (VASP), we have implemented comprehensive policies and procedures to ensure that our operations do not facilitate transactions involving sanctioned individuals, entities, or countries. Our compliance measures are regularly reviewed to meet the highest international standards and include the following key areas:
- Customers and their beneficial owners are subject to name screening processes against lists of designated persons (and equivalent).
- Shareholders undergo name screening processes against lists of designated persons (and equivalent).
- Transactions (Crypto and Fiat).
We take the following additional measures to ensure compliance:
- Cryptobit will not engage in any activity involving the structuring of transactions for the stated or apparent purpose of avoiding sanctions, prohibitions or restrictions.
- All staff members receive appropriate training to support the policy principles and sanctions requirements outlined.
- Cryptobit will review and assess any breach of a sanctions regime and meet the applicable obligations to report to the appropriate authorities in a timely manner and in accordance with the law.
Our robust systems allow us to:
- Screen all clients, transactions, and counterparties against updated sanctions lists.
- Monitor and report any suspicious or sanction-related activities.
- Suspend or block accounts and transactions involving sanctioned parties or jurisdictions.
We are committed to maintaining full transparency with regulatory authorities and cooperating fully with any requests related to sanctions compliance.