Kuady operates under a Class 8 Electronic Money Transmission services license granted by the Isle of Man Financial Services Authority (FSA).
The Isle of Man is a self-governing Crown Dependency of the United Kingdom. However, it is completely independent when it comes to its Laws and Financial Services Regulations. The Isle of Man Financial Services Authority (“FSA”) oversees all aspects of the Islands Financial Services businesses.
Whilst the funds held in the Kuady Wallet are not covered by the Isle of Man Depositor Compensation Scheme, they are completely ring fenced from the Company’s assets in Segregated Banks Accounts. Each account the company utilizes is held with a fully Regulated Bank that has been reported to the FSA. Each bank has acknowledged in writing that the funds are being safeguarded on behalf of our customers.
The Isle of Man is subject to many external reviews from FAFT, MoneyVal, and even the European Union at times. It is fully compliant with all modern AML/CFT requirements and adopted the EU GDPR legislation in 2019.
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