Legal & Regulatory
Compliance
Westarion's regulatory standing, AML/KYC program details, risk disclosures, and consumer protection information.
Westarion's regulatory standing, AML/KYC program details, risk disclosures, and consumer protection information.
Westarion operates within a layered US regulatory framework applicable to money services businesses engaged in digital asset activities.
Ethio American LLC is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business. This registration is required under the Bank Secrecy Act for entities engaged in money transmission activities, which includes virtual currency exchange under FinCEN's 2013 guidance on virtual currency.
Operations are structured to meet all applicable BSA requirements including recordkeeping, reporting of currency transactions where required, and suspicious activity reporting obligations. The BSA is the primary federal anti-money laundering statute governing Westarion's activities.
Title III of the USA PATRIOT Act expanded BSA obligations for financial institutions. Westarion's Customer Identification Program (CIP) is implemented in compliance with these provisions, requiring identity verification for all account holders before any transaction is permitted.
Money transmission is also regulated at the state level in the United States. Westarion pursues applicable state money transmitter licenses where required. Services may not be available in all states pending licensure. Users are responsible for confirming availability in their jurisdiction prior to account creation.
All Westarion accounts require identity verification before any exchange or wallet functionality is accessible. This is a federal legal requirement, not a discretionary policy.
Collection and verification of name, date of birth, address, and government-issued identification number for all account applicants.
Ongoing monitoring of account activity against customer risk profiles. Enhanced due diligence applied to accounts meeting defined risk criteria.
All account applicants and transactions screened against OFAC sanctions lists. Transactions involving sanctioned individuals, entities, or jurisdictions are blocked.
Westarion files Suspicious Activity Reports (SARs) with FinCEN as required under BSA obligations. Internal compliance monitoring systems flag transactions for review.
Cryptocurrency involves substantial risk of loss. Digital asset prices are highly volatile. The value of digital assets may decrease significantly or fall to zero. Past performance of any digital asset is not indicative of future results.
Westarion accounts and digital assets held through the platform are not FDIC insured, not bank guaranteed, and not protected by any government deposit insurance program.
The Westarion platform is not a bank or broker-dealer. Nothing on this website or within the platform constitutes investment advice, financial advice, trading advice, or any other form of advice. Users should conduct independent research and consider consulting qualified financial and legal advisors before engaging in digital asset transactions.
If you believe an unauthorized or erroneous transaction has occurred on your account, contact Westarion at support@westarion.org promptly. We will investigate and respond within the timeframes required by applicable law.
Formal complaints may be submitted to support@westarion.org with subject line "Formal Complaint." All complaints are logged, reviewed, and responded to within a reasonable timeframe. Users may also file complaints with relevant state regulators.
Westarion handles personal data in compliance with applicable US privacy laws including the California Consumer Privacy Act (CCPA). See our Privacy Policy for full details on data collection, use, and your rights.