(updated 28th of October 9th 2023)
Senit has put in place appropriate systems and controls to combat money laundering and terrorist financing under current European Anti-Money Laundering (“AML“) and Anti-Terrorist Financing (“CTF“) regulations, more specifically:
- UK Proceeds of Crime Act 2002 (“POCA“)
- UK Terrorism Act 2000
- UK The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“MLR 2017”).
- EU 6th Directive on Anti-Money Laundering (“AMLD6“), which is an extension of AMLD5 and came into effect for EU member states on 3 December 2020.
We believe that combined, these controls will provide a protective umbrella for users on our platform, and enable us to serve them in the best way possible by ensuring that we comply with all local regulations.
Lithuanian Crypto Currency Licence
Financial Crimes Investigation Service (“FCIS”) is an independent structural unit of the Lithuanian Police and Border Police Department. Its mission is to protect the public financial system by uncovering criminal acts and other violations of the law.
Senit is owned and operated by DLT Payments USB, Registration number 305973104 which holds the below authorisations obtained with Lithuanian regulatory authority FCIS after the consideration by the Bank of Lithuania since 11th of January 2022.
1. Depository Virtual Currency Wallet Operator;
2. Virtual Currency Exchange Operator.
The purpose of the FCIS is to develop methods of combating criminal activities against the public financial system. In pursuance of this objective, the Service is actively involved in the implementation of the National Crime Prevention and Control Programme, the National Anti-Corruption Programme, and is preparing a public relations strategy, through which it seeks to involve society in preventive activities against financial crimes.
The FCIS pursues its objective by taking operational measures, detecting and conducting pre-trial investigations and preventing criminal acts, implementing measures to combat money-laundering, as well as the means to guarantee the legality of the receipt and use of financial support from the European Union and other countries, by conducting an assessment of their commercial and financial activities and submitting an expert opinion thereon, as well as measures to ensure that hidden taxes can be reimbursed in order to maximize their impact on the actual revenues to be paid into the State budget.
Cryptocurrency companies are regulated by the Republic of Lithuanian Law on the Prevention of Money Laundering and Financing of Terrorism (the “Prevention Law”), in particular Order No V-5 of January 2020.
Please contact us with questions, comments, or concerns regarding our Regulatory Status via our contact form or by sending a email to firstname.lastname@example.org.