Legal and Compliance

We at Overbit take compliance matters very seriously and we are committed to offering a safe environment for our traders, liquidity providers, employees and all other stakeholders. We are regularly reviewing areas of compliance and working with external legal counsel to address and strengthen our controls.

Around the world there is an evolving risk of money laundering and terrorist financing. Since day 1 of Overbit, we have been committed to carrying out KYC (know your customer) and AML (anti-money laundering) checks on all our users and stakeholders.

We screen all incoming and outgoing transactions in order to detect accounts that have any links to activities related but not limited to government sanctions, money laundering, child abuse, terrorist financing, scams or stolen funds. Overbit also complies with economic and trade sanctions imposed by governments around the world.

As a Virtual Asset Service Provider (VASP), Overbit has a zero tolerance policy on its platform being misused for transactions with links to crimes or terrorism. If such transactions are found, Overbit reserves the right to suspend and restrict accounts where necessary and will make appropriate filings with the relevant authorities to report suspicious activities.

Overbit will continue to develop and implement robust procedures to alleviate risks posed to the business as well as complying with global regulatory requirements.