Prohibited Countries And Business Activities
Introduction
This document outlines the prohibited countries and business activities that are not supported on the platform marketed by My Digital Finance OÜ. This information is provided to ensure transparency regarding jurisdictional restrictions and prohibited business types.
Partner Role Statement
My Digital Finance OÜ collaborates with a regulated financial services provider to bring you innovative digital banking solutions. Our partnership allows us to focus on creating an exceptional customer experience, while our regulated partner manages all financial services, account operations, and ensures compliance with applicable regulations.
1. Scope
This policy applies to all services marketed by My Digital Finance OÜ. It outlines restrictions regarding customer onboarding, transactions, and other activities that are enforced by the regulated platform operator. My Digital Finance OÜ is a marketing partner only and does not manage onboarding, transactions, or compliance processes.
2. Prohibited Jurisdictions
The platform does not support any onboarding or transaction activities involving the following jurisdictions, due to regulatory restrictions, international sanctions, or high-risk considerations:
● Afghanistan (AF)
● Azerbaijan (AZ)
● Belarus (BY)
● Burkina Faso (BF)
● Burundi (BI)
● Central African Republic (CF)
● Cuba (CU)
● Democratic People's Republic of Korea (DPRK)(KP)
● Democratic Republic of Congo (CD)
● Eritrea (ER)
● Guinea (GN)
● Guinea-Bissau (GW)
● Haiti (HT)
● Iran (IR)
● Iraq (IQ)
● Lebanon (LB)
● Libya (LY)
● Mali (ML)
● Marshall Islands (MH)
● Montenegro (ME)
● Myanmar (MM)
● Nicaragua (NI)
● Niger (NE)
● Pakistan (PK)
● Palestine (PS)
● Russian Federation (RU)
● Republic of Serbia (RS)
● Somalia (SO)
● South Sudan (SS)
● Sudan (SD)
● Syria (SY)
● Tunisia (TN)
● Ukraine (UA)
● Venezuela (VE)
● Western Sahara (EH)
● Yemen (YE)
● Zimbabwe (ZW)
Additionally, the platform prohibits onboarding any customer with ultimate beneficial owners (UBOs), directors, or operations residing in or targeting websites toward the following sanctioned countries: Iran, North Korea, Syria, Cuba, Venezuela, and Russia.
This list is reviewed periodically by the regulated plat form operator to ensure compliance with regulatory updates and may be amended accordingly.
3. Prohibited Business Activities
The following categories of businesses and business practices are explicitly prohibited from using the services marketed by My Digital Finance OÜ:
● Businesses operating or running Hawala (informal banking system)
● Companies engaged in or providing illegal drugs and/or unlicensed drug-related activity
● Unregulated pharmaceuticals/food supplement companies (nutraceuticals)
● Activities relating to defense and munitions, including dual use
● Adult websites or services with prostitution, and the broadcasting/publication of pornography
● Binary options or unregulated investments
● Companies formed of bearer shares
● Company structures which include only nominee directors (there must always be individual directors)
● Companies dealing in counterfeit goods
● Companies dealing with cultural artifacts, ivory, or other items related to protected species, or with items of archaeological, historical, religious, or rare scientific value
● Companies structured and operating piracy or illegal streaming
● Political/religious organizations engaged in hate speech
● Pyramid schemes/multi-level marketing (MLM)schemes
● Companies dealing in non-electronic funds
● Unregulated institutions that should be regulated
● Shell banks
● Shell companies (a company having no physical presence, no employees, or no commercial activity in its registered jurisdiction)
● 'Get rich quick' schemes (proposal to pay high rates of return over a short period in return for a small investment)
● Unregulated charities
● Banks
4. Special Requirements for Certain Activities
Certain industries may be subject to enhanced due diligence requirements by the regulated platform operator to ensure compliance with regulatory standards:
4.1 Licensed Gaming and Betting
Subject to valid licensing and regulatory approval in the operating jurisdiction. However, the platform does not provide services to gaming or contract for difference (CFD) firms requiring consumer pay outs.
4.2 Cryptocurrency Services
Restricted to licensed or regulated businesses compliant with local and international regulations. The platform does not provide services to cryptocurrency firms acting on behalf of underlying clients.
4.3 Financial Institutions
The platform does not provide services to financial institutions, money service businesses (MSBs), or payment service providers(PSPs) that wish to engage in correspondence-style relationships involving transactions with or on behalf of their underlying clients, as this would create nested relationships prohibited by regulations. However, the platform may provide payment services to these entities strictly for managing first-party corporate payments (e.g., payments for their own operational needs)and not for third-party transactions.
5. Implementation and Enforcement
The regulated platform operator is responsible for all compliance screening, onboarding decisions, and enforcement of these prohibitions. My Digital Finance OÜ, as a marketing partner, does not make determinations regarding customer eligibility or conduct compliance reviews.
6. Review and Updates
This policy is reviewed and updated regularly by the regulated platform operator to reflect changes in regulatory requirements, market conditions, and risk assessments. Any updates will be communicated to all relevant stakeholders promptly.
7. Disclaimer
This document is provided for informational purposes only and does not constitute financial, investment, tax, or legal advice. My Digital Finance OÜ markets services provided by a regulated platform operator. Users accessing services through My Digital Finance OÜ will be subject to the terms, conditions, and policies of the regulated platform operator.
My Digital Finance OÜ is a marketing partner and does not provide regulated financial services. All customer onboarding, account management, transaction processing, and compliance activities are provided by the regulated platform operator, not by My Digital Finance OÜ.
Last Updated
Last updated: 27/05/2025
This document is reviewed regularly to ensure accuracy and compliance with current regulations and platform policies. Users should checkback periodically for updates.
️ **Important Risk Warning**: Cryptocurrency trading involves significant risk. Read our full Cryptocurrency Risk Summary before proceeding.
