Why Temple Doesn't Offer Services in Certain Jurisdictions
At Temple, we aim to provide a safe and accessible platform. As a US-based company, we adhere to the highest standards of compliance and regulatory obligations. This commitment requires us to operate within the framework of various laws and regulations, including those set forth by the Office of Foreign Assets Control (OFAC).
Compliance with OFAC Sanctions
OFAC, a division of the U.S. Department of the Treasury, administers and enforces economic and trade sanctions against targeted foreign countries and regimes, terrorists, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction. These sanctions are critical in protecting national security and maintaining international peace.
Temple is legally obligated to comply with OFAC regulations as a US-based company. This means we cannot provide services to individuals or entities listed on OFAC's Specially Designated Nationals (SDN) list nor engage in transactions with certain countries and regions under comprehensive sanctions.
Risk-Based Approach to Regulatory Compliance
Beyond complying with OFAC sanctions, Temple employs a risk-based approach to determine which countries we can operate in. This approach involves a thorough analysis of various factors, including but not limited to:
Regulatory Restrictions: We evaluate the legal and regulatory frameworks of each jurisdiction to ensure our operations comply with local laws and regulations. This includes understanding licensing requirements, AML (Anti-Money Laundering) obligations, and other financial regulations.
Financial Crime Risk: We assess the risk of financial crimes such as money laundering, fraud, and terrorist financing associated with operating in a specific jurisdiction. This helps us mitigate potential risks and protect our users and the broader financial system.
Economic and Political Stability: Countries with unstable economic or political environments may pose significant risks to our operations and our users. We consider factors such as government stability, economic performance, and the potential for civil unrest.
Unsupported Countries
Below is a list of countries and regions where Temple does not offer services due to the aforementioned sanctions, compliance, and risk considerations:
Afghanistan
Algeria
Bangladesh
Belarus
Burundi
Cambodia
Cameroon
Central African Republic (the)
Congo (the) (Brazzaville)
Cote D'Ivoire
Cuba
Democratic People’s Republic of Korea (North Korea)
Democratic Republic of the Congo
Eritrea
Ethiopia
Guinea Bissau
Haiti
Iran (Islamic Republic of)
Iraq
Kazakhstan
Kenya
Kosovo
Lao, People's Democratic Republic (the) (Laos)
Lebanon
Libya
Mali
Morocco
Mozambique
Myanmar (Burma)
Nicaragua
Nigeria
Pakistan
Palestine
Panama
Philippines (the)
Russian Federation (the)
Somalia
South Sudan
Sri Lanka
Sudan (the)
Syrian Arab Republic (the) (Syria)
Tanzania, the United Republic of
Uganda
Ukraine
Uzbekistan
Venezuela (Bolivarian Republic of)
Viet Nam
Yemen
This list is subject to change based on ongoing regulatory reviews and global developments.
Please check back regularly for updates.
Commitment to User Safety and Compliance
Temple's primary concern is the safety and security of our users and their transactions. By adhering to OFAC sanctions and applying a rigorous risk-based approach, we can maintain a compliant and trustworthy platform. We understand that these restrictions may limit access for some users, but they are essential for ensuring that Temple operates within the bounds of the law and maintains the highest standards of integrity.
We continuously review and update our policies to reflect changes in the regulatory landscape and strive to expand our services responsibly. Our goal is to make cryptocurrency accessible to as many people as possible while ensuring a secure and compliant trading environment.
If you have any questions or need further information about our policies, please don't hesitate to contact our Support team. We are here to assist you and provide clarity on any concerns you may have.