Compliance and Restrictions

Operating a node on Horizon comes with certain compliance requirements and restrictions. This page outlines key information to ensure all participants adhere to legal and regulatory standards.

Compliance Requirements

1. Know Your Customer (KYC)

   • KYC procedures may be required for node operators, especially those participating in the Node License Key sale.
   • Details on the KYC process will be provided closer to the sale date.

2. Anti-Money Laundering (AML)

   • VEMP is committed to preventing money laundering and other financial crimes.
   • We may implement AML checks as part of our compliance procedures.

3. Tax Compliance

   • Node operators are responsible for reporting and paying any applicable taxes on rewards earned.
   • Consult with a tax professional in your jurisdiction for specific guidance.

Restrictions

1. Geographical Restrictions

   • Participation may be restricted in certain jurisdictions due to local regulations.
   • Ensure you're eligible to participate based on your location.

2. OFAC Sanctions

   • Individuals subject to OFAC (Office of Foreign Assets Control) sanctions are not eligible to participate.
   • Rewards can only be claimed by individuals not subject to OFAC sanctions or similar restrictions.

Warning: Ensure compliance with local laws before purchasing or operating.

Ongoing Compliance

• VEMP may adjust rewards and operations for network health and regulatory compliance.
• Operators may need to provide information or undergo reviews to maintain compliance.

Privacy and Data Protection

• We are committed to protecting your privacy and handling data in compliance with applicable data protection laws.
• Details on data collection, usage, and protection measures will be outlined in our Privacy Policy.

Note: This compliance information is subject to change as regulations evolve. Stay updated through our official channels.

For any compliance-related questions or concerns, please contact our support team at info@vemp.xyz.