OpenNode is a licensed Bitcoin payment processor based in the United States. We are subject to money transmitting laws and are responsible for not exposing our platform to businesses and services that fall outside of US law requirements. We adhere to the guidelines set by FINRA rule 3310 for Anti-Money Laundering activity.
Compliance is Unavoidable
Governments and regulators have identified cryptocurrency transactions as a focus, and are starting to rule across the United States that cryptocurrency transactions fall under the same jurisdiction as transactions in US Dollars. As the regulatory landscape gains more clarity, OpenNode must stay ahead of the curve so we can continue to provide a legal and compliant solution for our customers. Complying with OFAC, part of the United States Treasury, is something we have to do as a United States company; OpenNode doesn’t have a choice here. Please take note that OpenNode does not require its clients to KYC their customers. Your customers are not required to give you any information if you do not require them to do so. Merchants using self hosted solutions are taking an active risk for two reasons:
Not taking into account that the US Government will hold them subject to anti-money laundering laws.
Any non-compliant business will incur massive fines.
Please review our terms and conditions to see if you fall under conditions that may not make you suitable for our platform.