Reseller KYC/AML
Last Updated: March 6, 2025
CryptoCode is committed to regulatory compliance while ensuring a seamless and secure experience for legitimate users. We adhere to industry best practices to protect financial integrity, mitigate money laundering (ML) risks, and cooperate with law enforcement under applicable legal frameworks. At every point where CryptoCode interfaces with the traditional banking system, we maintain strict adherence to KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements to prevent financial crimes.
Responsibilities of a CryptoCode Reseller
CryptoCode only accepts reseller payments through regulated bank accounts where the account holder has undergone KYC/AML verification. We do not approve or process reseller applications from individuals or entities operating in, or from, jurisdictions included on the United Nations Security Council’s sanctions list.
To ensure full compliance with financial regulations, CryptoCode does not accept payments outside of the regulated banking system. Each reseller account must be directly tied to the legal identity or business entity registered on the associated bank account.
Resellers are solely responsible for ensuring that customers purchase vouchers using legally accepted payment methods and must adhere to Financial Action Task Force (FATF) guidelines and all applicable local laws governing their operations.
Regulatory Compliance & Local Jurisdiction Responsibility
CryptoCode vouchers (codes) are capped at a maximum face value of $500 USD per voucher. CryptoCode follows industry standards for prepaid vouchers and gift cards, which are not subject to KYC/AML regulations for end-users.
However, local regulatory requirements may vary by jurisdiction. Resellers must determine and adhere to any legal obligations within their country of operation. CryptoCode bears no responsibility for a reseller’s use of the CryptoCode voucher system or any legal consequences resulting from their activities.
CryptoCode does not conduct business in countries under international sanctions and does not permit resellers to engage in activities that would violate such restrictions.
Nature of CryptoCode Resellers
A CryptoCode Reseller does not sell cryptocurrency. Resellers exclusively distribute voucher codes, which function similarly to gift cards.
Regulatory Classification of CryptoCode Resellers
CryptoCode Resellers are not Money Transmitters. CryptoCode does not act as a cryptocurrency custodian or financial intermediary. Resellers operate under the following conditions:
- Resellers do not store, transfer, or transmit cryptocurrency.
- All cryptocurrency-related functions, including redemption and distribution, are exclusively managed by CryptoCode.
- CryptoCode vouchers (codes) consist of 25-digit alphanumeric codes, which have no inherent monetary value and are not classified as money or financial instruments.
- End users independently submit their 25-digit voucher codes to CryptoCode for redemption, similar to how retailers sell mobile airtime gift cards without involvement in the final use of the product.
Reseller Commitment to Preventing Money Laundering
CryptoCode resellers take their responsibilities seriously and implement strict KYC/AML measures in accordance with financial regulations. As independent businesses, resellers:
- Maintain customer verification protocols.
- Adhere to local and international AML regulations, ensuring all transactions align with FATF guidelines.
- Monitor transactions to detect and prevent suspicious activity, including unusual transaction patterns or high-risk behavior.
- Implement risk assessment strategies to prevent money laundering and other financial crimes.
While CryptoCode provides the infrastructure for voucher issuance and redemption, resellers remain responsible for enforcing compliance within their jurisdictions. CryptoCode works only with resellers who demonstrate a commitment to financial integrity and regulatory compliance.
CryptoCode’s Right to Terminate Non-Compliant Resellers
CryptoCode reserves the right to suspend or terminate reseller accounts under the following circumstances:
- Failure to comply with KYC/AML regulations or verification requirements.
- Engagement in fraudulent, high-risk, or suspicious activities.
- Non-compliance with local laws or financial regulations.
- Any activity that poses a risk to CryptoCode’s business integrity.
Resellers found in violation of these terms may have their accounts permanently closed, with all pending vouchers canceled. CryptoCode is not liable for any losses incurred due to non-compliance-related account terminations.
CryptoCode is committed to regulatory compliance while ensuring a seamless and secure experience for legitimate users. We adhere to industry best practices to protect financial integrity, mitigate money laundering (ML) risks, and cooperate with law enforcement under applicable legal frameworks. At every point where CryptoCode interfaces with the traditional banking system, we maintain strict adherence to KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements to prevent financial crimes.
Responsibilities of a CryptoCode Reseller
CryptoCode only accepts reseller payments through regulated bank accounts where the account holder has undergone KYC/AML verification. We do not approve or process reseller applications from individuals or entities operating in, or from, jurisdictions included on the United Nations Security Council’s sanctions list.
To ensure full compliance with financial regulations, CryptoCode does not accept payments outside of the regulated banking system. Each reseller account must be directly tied to the legal identity or business entity registered on the associated bank account.
Resellers are solely responsible for ensuring that customers purchase vouchers using legally accepted payment methods and must adhere to Financial Action Task Force (FATF) guidelines and all applicable local laws governing their operations.
Regulatory Compliance & Local Jurisdiction Responsibility
CryptoCode vouchers (codes) are capped at a maximum face value of $500 USD per voucher. CryptoCode follows industry standards for prepaid vouchers and gift cards, which are not subject to KYC/AML regulations for end-users.
However, local regulatory requirements may vary by jurisdiction. Resellers must determine and adhere to any legal obligations within their country of operation. CryptoCode bears no responsibility for a reseller’s use of the CryptoCode voucher system or any legal consequences resulting from their activities.
CryptoCode does not conduct business in countries under international sanctions and does not permit resellers to engage in activities that would violate such restrictions.
Nature of CryptoCode Resellers
A CryptoCode Reseller does not sell cryptocurrency. Resellers exclusively distribute voucher codes, which function similarly to gift cards.
Regulatory Classification of CryptoCode Resellers
CryptoCode Resellers are not Money Transmitters. CryptoCode does not act as a cryptocurrency custodian or financial intermediary. Resellers operate under the following conditions:
- Resellers do not store, transfer, or transmit cryptocurrency.
- All cryptocurrency-related functions, including redemption and distribution, are exclusively managed by CryptoCode.
- CryptoCode vouchers (codes) consist of 25-digit alphanumeric codes, which have no inherent monetary value and are not classified as money or financial instruments.
- End users independently submit their 25-digit voucher codes to CryptoCode for redemption, similar to how retailers sell mobile airtime gift cards without involvement in the final use of the product.
Reseller Commitment to Preventing Money Laundering
CryptoCode resellers take their responsibilities seriously and implement strict KYC/AML measures in accordance with financial regulations. As independent businesses, resellers:
- Maintain customer verification protocols.
- Adhere to local and international AML regulations, ensuring all transactions align with FATF guidelines.
- Monitor transactions to detect and prevent suspicious activity, including unusual transaction patterns or high-risk behavior.
- Implement risk assessment strategies to prevent money laundering and other financial crimes.
While CryptoCode provides the infrastructure for voucher issuance and redemption, resellers remain responsible for enforcing compliance within their jurisdictions. CryptoCode works only with resellers who demonstrate a commitment to financial integrity and regulatory compliance.
CryptoCode’s Right to Terminate Non-Compliant Resellers
CryptoCode reserves the right to suspend or terminate reseller accounts under the following circumstances:
- Failure to comply with KYC/AML regulations or verification requirements.
- Engagement in fraudulent, high-risk, or suspicious activities.
- Non-compliance with local laws or financial regulations.
- Any activity that poses a risk to CryptoCode’s business integrity.
Resellers found in violation of these terms may have their accounts permanently closed, with all pending vouchers canceled. CryptoCode is not liable for any losses incurred due to non-compliance-related account terminations.