Criterion · method version 1.2.0
Regulatory status
What this criterion measures in each category, from method version 1.2.0.
Criterion id: regulatory · from release method-v1.2.0
What it measures
In Exchanges and brokers
The licence or registration the platform holds for the services it offers, and warnings about it. Evidence: for the EU, an entry in the ESMA MiCA register (the interim register of crypto-asset service providers) with the home member state, the services and the member states it may serve; national licences and registrations elsewhere; public warnings by supervisors; and the jurisdiction of the legal entity that contracts with the customer. The register is evidence for this criterion only; it is not a rating.
In Hardware wallets
The legal setting of the maker and of the services built into the product. Evidence: the maker's jurisdiction and legal entity, and for built-in services (swaps, purchases, staking) whether the provider holds the licence or registration it needs, for example an entry in the ESMA MiCA register for the EU.
In Mobile wallets
The legal setting of the provider and of the services built into the app. Evidence: the provider's jurisdiction and legal entity, whether a custodial provider holds the licence or registration it needs (for the EU, an entry in the ESMA MiCA register), and the licence status of the providers behind built-in swaps, purchases and staking.
In On-ramps
The licence or registration the service holds, and warnings about it. Evidence: for the EU, an entry in the ESMA MiCA register with the home member state, the services and the member states it may serve; payment or e-money licences for the fiat side; public warnings by supervisors; and the jurisdiction of the contracting entity. The register is evidence for this criterion only; it is not a rating.
How the score is built
The sub-criteria an assessor notes on the way to the score. They are not published as scores of their own.
In Exchanges and brokers
Assessors note sub-scores as whole numbers from 0 to 100.
- Licence or registration
- Authorisation under MiCA (ESMA register) or national law, the services covered and the member states served.
- Supervisory warnings
- Public warnings, sanctions or enforcement actions by supervisors against the platform or its group.
- Jurisdiction
- Where the contracting entity is established and which law governs the customer relationship.
In Hardware wallets
Assessors note sub-scores as whole numbers from 0 to 100.
- Manufacturer jurisdiction
- Where the maker is established and which law governs its products.
- Compliance of built-in services
- Licence or registration of the providers behind built-in swaps, purchases and staking, from official registers.
In Mobile wallets
Assessors note sub-scores as whole numbers from 0 to 100.
- Provider jurisdiction
- Where the provider is established and which law governs the app.
- Compliance of built-in services
- Licence or registration of the provider and of the providers behind built-in services, from official registers.
In On-ramps
Assessors note sub-scores as whole numbers from 0 to 100.
- Licence or registration
- Authorisation under MiCA (ESMA register) or national law, and payment licences for the fiat side.
- Supervisory warnings
- Public warnings, sanctions or enforcement actions by supervisors.
- Jurisdiction
- Where the contracting entity is established and which law governs the customer relationship.
Evidence and confidence
Every score of this criterion cites evidence items with their sources, and carries one of four confidence labels.
- high
- Primary sources checked at the assessment date, confirmed by a WhatTheChain test or a second independent source.
- medium
- Primary sources that could not be confirmed independently, or some older than the last scheduled review.
- low
- Only secondary sources, or sources that conflict; the rationale explains which one the value follows.
- estimate
- No direct source: derived from documented properties and comparable designs, and the rationale says how.