XOV is fully committed to attaining full compliance with global regulatory environments, and takes this seriously. Trust and security is part of the XOV DNA. Many blockchain projects are viewed as risky and operat- ing in the shadows, and in this trustless environment, we offer trust, stability and confidence. We are open and proactively working with others to provide financial compliance. This also provides us with a competitive edge, whilst other retail products are scrutinised and face risk of closure or worse. XOV has received written confirmation from the UK Financial Conduct Authority that our retail products are already compliant with current UK regulations and laws, and will continue to build this relationship. This provides confidence to our investors and customers that our business is sustainable now and in the future.
As part of this commitment, we will identify our customers, make our customers aware of the risks of using our products and services, and comply with legislative and regulatory frameworks around anti-money laundering and securities. We have not yet selected a suitable regulatory environment for the planned decentralised stable bank’ – this is currently under consideration.
XOV is registered as a data controller in the UK (A8407518) for the purposes of recording the personal data of its customers and has developed data protection policies that protect is customers from the risks of data loss or hacking. XOV will comply with the data principles set out in the EU GDPR. XOV is a registered trade mark (UK00003307263) in the financial services and banking sectors, and Decentralised Asset Management Platform (DAMP) is a pending trade mark (UK00003342611).
More detailed information on legal and compliance can be found by clicking here.