Currencycloud is committed to complying with all applicable laws and regulations including those related to anti-money laundering, counter-terrorism financing, sanctions, and export control laws. We maintain policies and procedures , controls, and requirements to help protect our platform. In addition, our banking partners also maintain requirements and restrictions that must be adhered to, including restrictions on certain industries, activities, and countries, as listed below. Failure to comply with these restrictions can result in delayed payments or declined payments with continuous breaches leading to account closure. Please contact your client representative for additional information.
Non-permitted industries – global
- Weapons / military-grade security
- Multi-level marketing
- Pawnbrokers [MCC: 5933 - Pawn Shops]
- Political organizations [MCC: 8651 - Organizations, Political]
- Precious metals and stones, including diamond traders [MCC: 5094 - Precious Stones and Metals, Watches and Jewelry]
- Unauthorized re-sale of luxury goods - including watch traders
- Adult entertainment
- Drug paraphernalia
- CBD and related products
- Carbon credits, including carbon credits traders
- Cryptoassets
- Gambling [MCC: 7995 - Betting (including Lottery Tickets, Casino Gaming Chips, Off - track Betting and Wagers)]
- Ponzi / pyramid schemes
- Firms involved in the servicing of illegal goods/services including but not limited to: counterfeit goods/trademark infringement, human trafficking, child labor, prostitution.
- Mining and extraction
- Scrap metal traders
- Energy traders
- Speculative trading
Non-permitted industries – United States of America
- Chemicals
- FDA classified medical devices
- Medications or prescription drugs
- Alcohol [MCC: 5813 - Drinking Places (Alcoholic Beverages), Bars, Taverns, Cocktail lounges, Nightclubs and Discotheques]
- Tobacco [MCC: 5993 - Cigar Stores and Stands]
- Dietary supplements
- Seeds or plants [MCC: 5193 - Florists Supplies, Nursery Stock, and Flowers]
- Regulated financial services
- Outbound telemarketing [MCC: 5966 - Direct Marketing-Outbound Telemarketing Merchants]
Non-permitted client types
- Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘layering.’
- Shell banks
- Unregistered charities
Non-permitted activities
- Clients are not allowed to use our services to speculate changes in FX
- Transactions deriving from crypto currencies
- Remittances funded in cash