Web3 Compliance Solutions KNOW YOUR RISK Officially Launched

In the blockchain field, although decentralization and privacy protection are highly valued, compliance remains a key aspect that cannot be overlooked. Recently, some well-known projects have encountered legal issues due to violations of relevant regulations, highlighting the importance of compliance.

In response to the industry's needs, a Web3 compliance solution called KNOW YOUR RISK has recently completed internal testing and officially opened to the public on August 9.

KNOW YOUR RISK Introduction

KNOW YOUR RISK is a compliance and financial solutions provider focused on the Web3 space. It is dedicated to helping various blockchain-related projects and institutions address compliance issues, particularly in the key markets of Singapore and Hong Kong. The service covers the entire process from risk identification to problem resolution, specifically including the four steps of identifying risk points, analyzing risk points, providing solutions, and executing and reviewing.

The project is initiated by a team with rich industry experience, consisting of members from top exchanges, renowned accounting firms, and cryptocurrency project parties. They are able to provide comprehensive customized solutions for clients in the digital asset and financial sectors.

A business partner stated that they hope to provide higher quality enterprise services for the Web3 industry through this project, addressing the current industry pain points of "compliance difficulties and high costs," while promoting the compliant development of the entire industry.

Free Risk Assessment Tool

The KNOW YOUR RISK official website provides a simple yet comprehensive risk assessment tool that can help project teams and corporate executives gain a preliminary understanding of the risks they may face. Users complete the assessment by answering a series of multiple-choice questions that cover various business directions and dimensions.

After completing the assessment, users can immediately receive a detailed risk assessment report. The report will indicate the severity of the diagnostic results and provide preliminary recommendations on multiple modules, including strategy, legal structure, regulation, anti-money laundering/KYC, risk management, accounting, and operations.

It is important to note that this free risk assessment report only covers some key factors and may not include all risk factors, nor does it constitute legal advice. For a more in-depth legal risk analysis and solutions, users can contact the KNOW YOUR RISK team for further assistance.

Focus on the Singapore and Hong Kong Markets

The business of KNOW YOUR RISK will first focus on the two Asian economic centers of Singapore and Hong Kong. These two regions are actively formulating relevant policies to attract and support fintech and blockchain companies.

For example, the Monetary Authority of Singapore provides a "sandbox" program for startups, allowing companies to test their technology and business models in a controlled environment. Recently, Hong Kong has also begun implementing new guidelines for virtual asset trading platforms and issuing new licenses to cryptocurrency exchanges.

The KNOW YOUR RISK team is familiar with the complete compliance processes required to operate in these two regions. They can also provide appropriate assistance or recommend partners for business in other regions.

Diversified Business Scope

The KNOW YOUR RISK team has provided services for over 120 Web3 companies, helping clients save considerable costs and expedite the process of obtaining licenses and passing audits. Their services cover multiple key areas, primarily including:

1. Web3 Financial Due Diligence: Providing comprehensive on-chain and off-chain investigations for investors and exchanges, including personal background checks, source of funds analysis, etc.

2. Web3 Accounting: Assist clients in designing and preparing SOPs and financial statements that comply with local audit standards, achieving seamless integration of on-chain transaction data with accounting standards.

3. Web3 Law and Compliance: Helping clients understand and comply with local compliance policies and legal requirements.

For the license application of cryptocurrency exchanges, KNOW YOUR RISK can provide comprehensive support, including preparing compliance materials, contacting custodians, conducting audits, etc.

Conclusion

In today's rapidly growing cryptocurrency industry, risk management and compliance have become increasingly important. KNOW YOUR RISK not only helps crypto companies identify and respond to risks, but also meets compliance requirements, paving the way for the long-term success and sustainable development of these companies.

With its professional team and rich experience, KNOW YOUR RISK is capable of providing practical and effective solutions for the unique needs of this emerging field. Interested companies and project parties can visit its official website for a free risk assessment.