General

Dose CODE save personal information and transaction data of users?

CODE is unable to monitor or save the personal and transaction data of users. VASP transfer the data as encrypted format. CODE facilitates the data transmission process and cannot decrypt or access the data.

What is the most commonly used API?

CODE API is designed for both reliability and convenience of integration. Among the APIs, Virtual Asset Address Search and Asset Transfer Authorization perform core function.

What kind of operation data provided by CODE?

CODE offers various reports through the dashboard. It provides data that allows for various insights, including numbers for each stage of transfer and trends in asset transfers between exchanges etc.

When transferring Travel Rule information through CODE, is WLF conducted beforehand?

Since CODE is inaccessible to user information, conducting WLF is not possible. However, VASPs may perform WLF on the the wallet address and the owner according to their internal policies.

How long does it take to integrate?

It differs depending on the member's situation and process. The fastest case on record is 3 days.

What is the communication channel for service-related matters?

CODE support members through Slack. After signing the contract, a separate Slack channel will be opened and members will be invited.

Is it possible to deposit and withdraw with all CODE members right after the integration?

Depending on the counterpart VASP's policy, additional DD(Due Diligence) may be required. Since CODE conducts its own initial DD review, it is possible to reduce the lead time.

Blacklist

How do I register for the Blacklist API?

To register for the Blacklist API, please contact the CODE team. Please request via email at [email protected] or through the Slack channel.

Is there a dev-environment to test blacklist API?

The Blacklist API does not offer a distinct testing environment. Please conduct the tests in the operational environment.

Does using the Blacklist API eliminate the need for my own blockchain transaction analysis tool?

We recommend comparing the Blacklist API with other blockchain transactions analysis tool and making decisions based on internal policies and judgment.

Nonetheless, it is crucial to establish clear priorities when utilizing both the Travel Rule and transaction analysis tools. For further information, please refer to [Travel Rule and On-chain Analysis](#Travel Rule and On-chain Analysis) page.

DD(Due Diligence)

What is DD(Due Diligence)?

Due Diligence(DD) is a screening process to identify, assess and understand money laundering and terrorist financing (ML/TF) compliance risks prior to utilizing Travel Rule solution.

When does CODE conduct their DD audit?

Before entering into a contract with CODE, DD screening is conducted through the member company's 'Required Qualifications Screening Document' and 'Money Laundering and Terrorist Financing Risk Assessment Screening Document'.
Afterwards, the DD reevaluation cycle is determined by the expiration/renewal date of your contract.

How long does the DD process take?

Results will be provided within up to 5 business days after all necessary documents have been submitted.

If I pass CODE's DD screening process, will I be able to skip the DD screening process for the other member companies?

CODE is not involved in the DD screening process of each member company. The DD screening process of each member company may vary depending on each member company's internal policies. For more information, please contact the DD manager of the member company you wish to link deposits and withdrawals to.

Is there a set DD review cycle for each member?

The risk level is calculated based on the audit results from each member company. Please note that the DD review cycle will vary depending on the level of risk.

What is the communication channel for DD matters?

Given that sensitive corporate documents may be exchanged and maintaining a record is crucial, please carry out communications related to DD via email.

Are there any precautions to take with DD documents?

Every document should bear a seal to confirm its authenticity as an official document. In the absence of a legal framework to verify their official status in the country of origin, obtaining apostille certification might be necessary.