How does Paxos comply with the regulations set by NYDFS?

3 answers

• Kaphi AssumiNov 03, 2021 · 4 years ago
  Paxos takes compliance with NYDFS regulations seriously. They have implemented robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures to verify the identity of their users and prevent illicit activities. Additionally, Paxos maintains strong internal controls and regularly undergoes audits to ensure adherence to regulatory standards. By working closely with NYDFS, Paxos aims to create a safe and transparent environment for digital asset trading.
  468

  234
• kuruminDec 25, 2024 · a year ago
  Complying with NYDFS regulations is a top priority for Paxos. They have established a comprehensive compliance program that includes thorough customer due diligence, transaction monitoring, and reporting suspicious activities. Paxos also maintains strong partnerships with banks and financial institutions to facilitate compliance with regulatory requirements. By prioritizing compliance, Paxos aims to build trust and credibility in the digital asset industry.
  461

  154
• Tilak PolypackOct 21, 2021 · 4 years ago
  As an expert in the digital asset industry, I can confirm that Paxos has a strong track record of compliance with NYDFS regulations. They have implemented robust systems and processes to ensure the safety and security of their platform. Paxos collaborates closely with NYDFS to stay updated on the latest regulatory developments and proactively adapt their compliance measures. By prioritizing regulatory compliance, Paxos sets a positive example for other digital asset exchanges.
  481

  121