The Office of Foreign Assets Control (OFAC) enforces U.S. economic and trade sanctions aimed at national security threats, including terrorists and narcotics traffickers. Compliance with OFAC regulations is essential for web3 and crypto developers due to the global and decentralized nature of blockchain technology, which could inadvertently involve sanctioned parties.
The Compli API aids compliance by providing access to crucial OFAC lists like the Specially Designated Nationals (SDN), ensuring transactions do not involve prohibited entities.
Many crypto projects need to restrict access for US-based users until there is more regulatory clarity from the SEC and other agencies. At a more granular level, there may also be the need to limit access for New York State based users. Compli API makes it easy to geolocate a requesting client (call the API from your Dapp) or supply any IP address you'd like to geolocate.
To verify whether an entity is on a sanctions list, you can use:
For geo lookups, you can supply an IP address or simply call the API directly and we will geolocate the source of the request.
We love to hear from our customers, whether you're get your initial integrations working, you have questions about our product roadmap or want to see a specific feature added to the API, drop us a line, we're here to help.