Compliance

Privacy Policy: TradeLayer-adjacent apps like LayerWallet.com, the browser extension and the desktop wallet do no tracking of user data or even usage metrics, with the exception of making outcalls to 3rd party APIs in order for the app to determine the user's IP address, country location, and VPN usage, in order to create attestation transactions that enable or disable protocol features, in alignment with international compliance rules. None of that data or any other data is collected by any servers or other crawling tools deployed by us, this is meant to be freedom tech, your privacy is important.

TradeLayer has a clearlist feature built-in, taking up a few tx types, for creating new clearlists and issuing/revoking attestations from that admin address. As with oracles and token issuer admin addresses, there’s a back-up address parameter and an update admin transaction type to refresh multisig security protocols, update to quantum-resistant addresses when those come out, and other operational security procedures. The protocol uses two lists to verify who qualifies for delux rebates in the early stages of the protocol launch and which centralized oracles and tokens qualify to be included in cumulative LTC-equivalent volume for vesting and rebates.

Centralized issuers can use whitelists to gate who can trade their security tokens, contracts or stablecoins, in order to comply with relevant regulations as needed. Their policies for issuing and revoking addresses from the lists can be tailored to regulatory requirements off-chain and administered.

The mainnet release of the wallet will have IP verification and VPN detection to lock the wallet from being used by US persons.Even spot trading, unfortunately, is disabled for US persons as the 6050i rule puts criminal liability on transacting <10k USD without collecting social security numbers.Unless things change in the US, geofencing is the situation, there are plenty of regulated products US residents can utilize.6050i doesn’t apply to transactions conducted entirely (both parties) outside the USA and neither do SEC and CFTC restrictions. Additionally to build useful information about future whitelists, the wallet issues self-attestations with the country code of the user’s IP address when they interact with a wallet the first time, later issuers can parse that to draw up whitelists based on who they want to include. Using VPNs even after having tagged an address while on vacation to Costa Rica, will flag an address with an additional self-attestation.

This is designed to keep things as unrestricted for most of the world’s users and as smooth as possible while giving people who need the information the ability to filter counterparties or implement issuance policies. There are a handful of countries that are heavily sanctioned by OFAC that are on the banned list, this is subject to change as the sanctions regime changes.

Last updated: [1202025]