Landifa Compliance

Regulatory Status

Landifa is licensed as a Virtual Asset Service Provider (VASP) under Class M by the Bank of Namibia, in accordance with the Virtual Assets Act, 2023 (Act No. 14 of 2023). This license grants us the authority to operate and offer virtual asset services while ensuring compliance with Namibia's regulatory framework.

Key Compliance Commitments under the Virtual Assets Act, 2023

In alignment with the Virtual Assets Act, 2023, Landifa adheres to the following specific sections:

Section 7: Licensing Requirements Landifa has met all the licensing requirements outlined in the Act, including the submission of a comprehensive application reviewed and approved by the designated regulatory authority.

Section 16: Safekeeping and Protection of Client Virtual Assets We ensure that all client assets are securely stored and protected against unauthorized access, fraud, and potential loss.

Section 17: Prevention of Market Abuse Landifa implements robust measures to prevent market abuse, including price manipulation and insider trading, ensuring fairness in all virtual asset transactions.

Section 19: Financial Requirements We maintain the financial obligations required under the Act, including adequate capital reserves and separate accounts for client funds to safeguard financial integrity.

Section 26: Disclosure Obligations Landifa provides clear, transparent, and truthful disclosures to clients regarding the risks and conditions associated with virtual assets and related transactions.

Compliance Framework

To ensure full compliance with the Virtual Assets Act, 2023, Landifa remains committed to the following principles:

Risk-Based Approach: We regularly assess AML and KYC procedures using a risk-based approach to mitigate potential risks effectively.

Customer Verification: Robust customer verification procedures are in place to confirm the authenticity of customer-provided information and ensure compliance with KYC standards.

Legal Compliance: We strictly comply with the laws and regulations of the Republic of Namibia and refrain from providing services where there is reasonable suspicion of unlawful activity.

Cooperation with Authorities: Landifa fully cooperates with law enforcement agencies, as per Section 36 of the Act, by providing access to relevant records and information in cases of suspected money laundering or market abuse.

Staff Training: Our staff are regularly trained on compliance policies and updated on regulatory changes to enhance awareness and implementation of AML/KYC measures.

Record Keeping and Reporting: In compliance with Sections 16 and 17 of the Act, we maintain accurate records of all transactions and report suspicious activities promptly to the relevant authorities.

By adhering to the Virtual Assets Act, 2023, Landifa demonstrates its unwavering commitment to maintaining a secure, transparent, and compliant cryptocurrency ecosystem.

Landifa is also registered as an accountable institution with the Finacial Intelligence Centre of Namibia

Our FIC registration is available at: Landifa Bitcoin.pdf