Though cryptocurrency’s legal status is still being determined, Oodlebit is taking a proactive approach to ensuring full legal compliance for the exchange. This approach involves
obtaining Money Transmitter licenses in each state of operation where required and being compliant on a federal level. Oodlebit Inc. is registered with FinCEN under MSB ID: 31000127368312
In order to conform to local and international regulations, Oodlebit has implemented
internal procedures to combat money laundering, terrorist financing, drug and human
trafficking, arms and WMD sales, corruption, and bribery on its platform.
The Oodlebit Anti-Money Laundering and Know Your Customer Policy (AML/KYC Policy) helps to identify, prevent, shut down and report illegal activity on the Oodlebit exchange. The policy consists of implementing verification procedures, utilizing the services of a
compliance officer, monitoring transactions, and assessing risks.
All users will be required to complete KYC verification before any actions can be
performed on the Oodlebit Exchange. More information about our KYC verification policy can be found in section 5.1 of our Terms of Service.