KYC Restricted Jurisdictions List

KYC restriction list

KYC, short for "Know Your Customer," is mandatory for projects seeking capital, ensuring a KYC-compliant investor base. Within Colony Lab's platform, users engaging with the Early-Stage Feature must undergo KYC. However, users not utilizing this feature are exempt from KYC requirements.

Colony Lab relies on a list of high-risk jurisdictions flagged by the Financial Action Task Force (FATF) and considers potential domestic securities laws when assessing token offerings:

  1. FATF Blacklist:

    • Democratic People’s Republic of Korea (DPRK)

    • Iran

    • Myanmar

  2. Domestic Securities Law Concerns:

    • Australia

    • Canada

    • Japan

    • United States of America (U.S.A)

Countries where users are restricted from interacting with Colony's fundraising smart contracts (Early-stage Feature)

In adherence to stringent regulatory protocols, KYC checks are conducted by a third-party provider (synaps.io). Access to fundraising deals on Colony is exclusively granted to KYC-approved users. Failure to meet KYC requirements restricts investors from interacting with Colony's Early-Stage feature smart contracts (on-chain KYC enforcement). These measures ensure Colony's alignment with stringent international fundraising standards for projects.

Last updated