Adherence to Local and Global Regulations
1. Compliance with Local Laws
Sri Lanka’s Regulatory Framework:
Sapphire Swap ensures full compliance with gemstone export laws and financial regulations in Sri Lanka.
Operates within the guidelines set by the Central Bank of Sri Lanka for crypto-related transactions.
2. International Regulatory Standards
Global Blockchain Regulations:
Aligns with international standards for blockchain and cryptocurrency operations, including AML (Anti-Money Laundering) and KYC (Know Your Customer) protocols.
Gemstone Export Compliance:
Adheres to import/export requirements for gemstones across target markets such as the USA, Europe, and Asia-Pacific.
3. Token Classification and Legal Support
Utility Token Classification:
SFT tokens are structured as utility tokens to avoid securities regulations and ensure broader adoption.
Legal Counsel:
Partners with top-tier legal advisors to navigate complex regulatory landscapes and provide ongoing compliance support.
4. Security and User Protection
Smart Contract Audits:
Conducts regular audits of smart contracts to ensure transparency and prevent vulnerabilities.
User Privacy:
Implements GDPR-compliant data protection measures to safeguard user information.
Secure Transactions:
Utilizes blockchain encryption and multi-signature wallets for secure and traceable transactions.
5. Ethical and Sustainable Practices
Ethical Sourcing:
Works with certified mines to ensure gemstones are sourced responsibly without exploitation.
Sustainability Initiatives:
Commits to minimizing environmental impact and promoting sustainable practices throughout the supply chain.