U.S. Money Services Business Registration — Verified
Catcrs completed its MSB registration with the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, on October 21, 2021. This registration is publicly searchable in the FinCEN MSB registrant database and mandates ongoing compliance with Bank Secrecy Act obligations including AML controls, customer identification, and suspicious activity reporting.
Registration Date: October 21, 2021 · Publicly Verifiable via FinCEN DatabaseAnti-Money Laundering Controls
Catcrs documents a full BSA-compliant AML program as required by its MSB designation, including customer due diligence, record retention, and suspicious activity reporting.
- 🪪Customer Identification (KYC)Identity verification procedures calibrated to transaction size, geography, and risk classification. Applied prior to account activation.
- 📁Record RetentionAll transactional and identification records retained per BSA requirements, with periodic review for completeness and accuracy.
- 🚩Suspicious Activity ReportingCompliance systems monitor for and file SARs with FinCEN in accordance with mandatory BSA reporting requirements.
- ⚖️Sanctions ScreeningOFAC and international sanctions lists are dynamically updated. All accounts and transactions are screened against high-risk databases.
- 🔍On-Chain AnalyticsIntegrations with on-chain analytics partners assess wallet address risk profiles and exposure to illicit activity.
- 🔄Periodic Internal ReviewCompliance policies and customer risk classifications undergo recurring review incorporating regulatory updates and emerging threats.
Cross-Border Transfer Compliance
Catcrs documents adaptation to FATF Recommendation 16 (Travel Rule) for VASPs, with ongoing work toward full cross-border information exchange capability.
Travel Rule (R.16) Adaptation
FATF Recommendation 16 requires VASPs to transmit originator and beneficiary information for cross-border transfers. Catcrs describes this as an area of continuous process and system improvement across jurisdictions.
VASP Messaging Networks
Catcrs is working toward interconnection with peer VASP messaging networks to enable compliant information exchange with counterpart exchanges in cross-border transfers.
Fraud & Scam Detection
Following FATF 2023–2025 updates on fraud prevention, behavioral analytics and anti-scam detection have been integrated into withdrawal and onboarding flows.
"Compliance Before Expansion" Policy
Catcrs' stated policy is to establish local regulatory compliance before entering new markets — applying differential standards for KYC depth, product availability, and transaction limits by region.
Documented Jurisdictional Policy
According to Catcrs' disclosures, before entering a new market the platform assesses local VASP regulatory requirements, licensing obligations, and payment partner availability. They partner with local compliance vendors and identity verification providers already operating within the relevant regulatory framework. High-risk jurisdictions and sanctioned territories are excluded from service availability by default. Derivatives access is determined by jurisdictional regulatory status, not market demand.
Stated Compliance Priorities
The following priorities are drawn from Catcrs' publicly disclosed roadmap. Nexoriath will update this analysis as milestones are completed.
Travel Rule Network Expansion
Enhance Travel Rule coverage and connect to additional VASP messaging networks for compliant cross-border transfer information sharing with peer exchanges.
Multi-Jurisdiction KYC Partners
Integrate with additional regional KYC and payment partners, expanding compliant access in phases while maintaining strict onboarding standards per jurisdiction.
Annual Penetration Test Publication
Publish summaries of annual third-party penetration tests, providing external security verification alongside PoR disclosures.
Regularized PoR Disclosure
Transition from internal PoR trials to scheduled, recurring public disclosures with standardized methodology documentation and third-party review verification.