Implementing Financial (AML/KYC) and Privacy (GDPR) Compliance Measures
Preparing Public Documents for Web3 Products (Terms & Conditions, Privacy Policy)
What’s the purpose of this task?
You will need these legal works if your Web3 product will be obliged to obtain crypto authorizations / licenses and / or if it will collect personal data of EU citizens.
Why do I need to complete this task? What will it allow me to do?
This will help you to:
• Incorporate compliance measures which are or might be required by crypto authorizations / licenses
obtained for your Web3 product
• Avoid risks of being associated with any illegal activities (money
laundering, illegal personal data processing, etc.) and as a result avoid fines and litigation
When do I need it? When is the best time to do it?
Before you start accepting the first payments from your first users.
How should I do it? Are there any best practices?
KYC / AML / GDPR compliance measures usually include the preparation of public and private policies and the implementation of them on an organizational level (e.g. adding a cookie banner for privacy compliance or integrating a KYC verification tool into the process of personal account creation).
What’s important to remember for this stage?
In most cases the prepared policies might not be enough for the proper financial / privacy compliance. The AML Officers / Data Protection Officers might be required to ensure that all compliance measures are followed by the company.
How much time does it usually take?
This can usually be completed within 2 to 3 weeks, however actual times vary depending on individual project requirements.
Prices for this task start from USD $1500
Prices for add-ons are indicative only. Final prices vary and are set by service providers from the Legal Nodes Network.
Add-ons are only available with a monthly plan from Legal Nodes.
Legal Nodes does NOT provide legal services. Instead, we provide Virtual Legal Officers to orchestrate your legal workload and manage relationships with your service providers. Plans start from $499 per month and gives you access to the Legal Nodes Network of service providers and add-ons, including this one!
