Risk Appetite
Appetite and restrictions on nationalities and residencies
Blockforia EOOD has a clearly defined appetite for which countries and nationalities it wishes to serve. The reason being the company has obligations in order to fulfil its license as a VASP (Virtual Asset Service Provider). As part of this we are obligated to uphold current sanctions regimes subject to the country it operates from; Bulgaria.
As such, Blockforia EOOD market appetite is restricted to the European Economic Area (EEA https://trade.ec.europa.eu/access-to-markets/en/content/european-economic-area-eea-agreement ). If any EEA country is put on any of the below sanctions and Risk-lists, the listing will prevail, and our appetite will be adjusted accordingly until the country is de-listed.
Exceptions: We are able to serve individuals who are nationals and residents of countries identified as “low risk” and free of sanctions. However, this is only on a case-by-case basis and is dependent on us approving the Enhanced Due Diligence needed to accept and transact such clients.
For a full overview of relevant sanctions lists and countries, please see the following lists and their reasoning:
1. EU Sanctions
- Reasoning: https://www.eeas.europa.eu/eeas/european-union-sanctions_en
- Map: https://www.sanctionsmap.eu/#/main
2. OFAC sanctions
3. UN sanctioned countries and people
- Active UN sanctions: https://www.un.org/securitycouncil/sanctions/2653/materials
4. FATF
- High risk countries: https://www.fatf-gafi.org/en/topics/high-risk-and-other-monitored-jurisdictions.html
- “Black & Grey” list for AML/CTF: https://www.fatf-gafi.org/en/countries/black-and-grey-lists.html