ssUSD Compliance & Regulatory Guide

StateSet USD (ssUSD) will be issued under the GENIUS Act, making it a federally-regulated stablecoin with comprehensive compliance requirements.

All ssUSD operations are subject to regulatory compliance. Failure to meet requirements may result in transaction blocks or account restrictions.

🏛️ Regulatory Framework

GENIUS Act Compliance

Federal Oversight

Regulated by the Office of the Comptroller of the Currency (OCC)

Criminal Penalties

C-suite executives face criminal liability for misreporting reserves

Monthly Attestations

CPA-signed reserve reports published on-chain monthly

Segregated Assets

Customer funds held separately from corporate assets

Jurisdictional Coverage

Region	Status	Requirements
United States	✅ Fully Compliant	KYC/AML required
European Union	✅ MiCA Compliant	KYC/AML required
United Kingdom	✅ FCA Registered	Enhanced due diligence
Singapore	✅ MAS Licensed	KYC/AML required
Japan	✅ FSA Approved	Strict wallet requirements
Canada	✅ FINTRAC Registered	KYC/AML required

👤 KYC Requirements

Individual Accounts

# KYC verification for individuals
curl -X POST https://api.stateset.com/v1/compliance/kyc/individuals \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "personal_info": {
      "first_name": "John",
      "last_name": "Smith",
      "date_of_birth": "1985-06-15",
      "ssn_last4": "1234"
    },
    "address": {
      "street": "123 Main St",
      "city": "San Francisco",
      "state": "CA",
      "postal_code": "94105",
      "country": "US"
    },
    "documents": {
      "id_front": "base64_encoded_image",
      "id_back": "base64_encoded_image",
      "proof_of_address": "base64_encoded_pdf"
    }
  }'

# Once KYC is approved, enable ssUSD transactions on the account
curl -X POST https://api.stateset.com/v1/accounts/{account_id}/enable-stablecoin \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{ "limits": { "daily": "10000.00", "monthly": "50000.00" } }'

JS SDK support for this resource has not shipped yet.

Business Accounts

# Enhanced KYC for businesses
curl -X POST https://api.stateset.com/v1/compliance/kyc/businesses \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "business_info": {
      "legal_name": "Acme Corporation",
      "dba_name": "Acme",
      "tax_id": "12-3456789",
      "formation_date": "2015-01-01",
      "business_type": "corporation"
    },
    "beneficial_owners": [
      {
        "name": "Jane Doe",
        "ownership_percentage": 51,
        "date_of_birth": "1980-01-01",
        "ssn_last4": "5678"
      }
    ],
    "documents": {
      "formation_docs": "base64_encoded_pdf",
      "tax_certificate": "base64_encoded_pdf",
      "bank_statement": "base64_encoded_pdf"
    }
  }'

🛡️ AML Monitoring

Transaction Screening

# Real-time transaction monitoring
curl -X POST https://api.stateset.com/v1/compliance/screenings \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "from": "stateset1sender...",
    "to": "stateset1recipient...",
    "amount": "50000.00",
    "purpose": "B2B payment"
  }'

# risk_level in the response is one of:
#   low     - proceed with the transaction
#   medium  - may require additional information
#   high    - manual review required; request an enhanced review:
#   blocked - transaction cannot proceed

curl -X POST https://api.stateset.com/v1/compliance/enhanced-reviews \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{ "transaction_id": "txn_123", "reason": "high risk score" }'

Sanctions Screening

# Check against sanctions lists
curl -X POST https://api.stateset.com/v1/compliance/sanctions-screenings \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "entities": [
      {
        "type": "individual",
        "name": "John Smith",
        "date_of_birth": "1985-06-15",
        "nationality": "US"
      }
    ],
    "lists": ["OFAC", "EU", "UN", "UK"]
  }'

Response

{
  "screening_id": "scr_123",
  "status": "clear",
  "matches": [],
  "lists_checked": ["OFAC_SDN", "EU_SANCTIONS", "UN_SANCTIONS", "UK_SANCTIONS"],
  "timestamp": "2024-06-25T12:00:00Z"
}

📊 Transaction Limits

Individual Limits

Transaction Type	Daily Limit	Monthly Limit	Per Transaction
Standard	$10,000	$50,000	$5,000
Verified	$100,000	$500,000	$50,000
Premium	$1,000,000	$10,000,000	$500,000

Business Limits

Business Type	Daily Limit	Monthly Limit	Per Transaction
Startup	$50,000	$250,000	$25,000
SMB	$500,000	$5,000,000	$250,000
Enterprise	Custom	Custom	Custom

Limit Management

# Check current limits
curl https://api.stateset.com/v1/compliance/limits/acc_123 \
  -H "Authorization: Bearer sk_live_..."

# Request limit increase
curl -X POST https://api.stateset.com/v1/compliance/limit-increase-requests \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "account_id": "acc_123",
    "requested_limits": { "daily": "500000.00", "monthly": "5000000.00" },
    "justification": "Business growth requiring higher payment volumes",
    "supporting_docs": ["bank_statements.pdf", "financial_projections.pdf"]
  }'

🚨 Suspicious Activity Reporting

Automatic SAR Filing

// System automatically files SARs for suspicious patterns
const sarTriggers = {
  rapid_movement: {
    threshold: '$10000_in_1_hour',
    action: 'auto_file_sar'
  },
  structuring: {
    pattern: 'multiple_9999_transactions',
    action: 'auto_file_sar'
  },
  unusual_pattern: {
    detection: 'ml_anomaly_detection',
    action: 'manual_review'
  }
};

# Manual SAR filing
curl -X POST https://api.stateset.com/v1/compliance/sars \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "account_id": "acc_123",
    "transaction_ids": ["tx_456", "tx_789"],
    "suspicious_activity": "Unusual transaction pattern",
    "narrative": "Customer made 50 transactions of $9,999 each within 24 hours"
  }'

🌍 Cross-Border Compliance

FATF Travel Rule

# Include required information for cross-border transfers
curl -X POST https://api.stateset.com/v1/stablecoin/transfer \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "amount": "15000.00",
    "to": "stateset1recipient...",
    "travel_rule_info": {
      "originator": {
        "name": "John Smith",
        "account": "stateset1sender...",
        "address": "123 Main St, San Francisco, CA 94105",
        "national_id": "US123456789"
      },
      "beneficiary": {
        "name": "Acme Corp",
        "account": "stateset1recipient...",
        "address": "456 Business Ave, London, UK"
      }
    }
  }'

Currency Controls

# Check country-specific restrictions
curl "https://api.stateset.com/v1/compliance/restrictions?from_country=US&to_country=CN&amount=50000.00&purpose=trade_payment" \
  -H "Authorization: Bearer sk_live_..."

# If the response has "requires_declaration": true, file the declaration
curl -X POST https://api.stateset.com/v1/compliance/declarations \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "type": "trade_payment_declaration",
    "amount": "50000.00",
    "purpose": "Import payment for electronics"
  }'

📋 Compliance Dashboard

Real-Time Monitoring

# Get compliance overview
curl "https://api.stateset.com/v1/compliance/dashboard?period=30d" \
  -H "Authorization: Bearer sk_live_..."

Response

{
  "compliance_score": 98.5,
  "total_transactions": 15234,
  "flagged_transactions": 23,
  "resolved_flags": 20,
  "pending_reviews": 3,
  "sar_filed": 1,
  "sanctions_hits": 0,
  "kyc_verifications": {
    "total": 234,
    "approved": 225,
    "rejected": 5,
    "pending": 4
  },
  "risk_distribution": {
    "low": 14890,
    "medium": 321,
    "high": 23
  }
}

Audit Trail

# Export compliance audit trail
curl -X POST https://api.stateset.com/v1/compliance/audit-trail/exports \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "start_date": "2024-01-01",
    "end_date": "2024-06-30",
    "include": ["kyc_decisions", "transaction_reviews", "sar_filings"],
    "format": "csv"
  }'

# Record an immutable on-chain proof of the exported trail
curl -X POST https://api.stateset.com/v1/compliance/audit-proofs \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "period": "Q2_2024",
    "hash": "<sha256 of the export>",
    "attestor": "chief_compliance_officer"
  }'

🔐 Data Privacy

# Handle data subject access requests
curl -X POST https://api.stateset.com/v1/compliance/gdpr/requests \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "type": "access_request",
    "subject_id": "user_123",
    "verify_identity": true
  }'

# Right to be forgotten (with regulatory retention)
curl -X POST https://api.stateset.com/v1/compliance/gdpr/deletions \
  -H "Authorization: Bearer sk_live_..." \
  -H "Content-Type: application/json" \
  -d '{
    "subject_id": "user_123",
    "retain_for_compliance": true,
    "retention_period": "7_years"
  }'

🔗 Resources

Compliance Policies

Detailed compliance procedures

Regulatory Updates

Latest regulatory changes

Training Center

Compliance training materials

API Reference

Compliance API documentation

​ssUSD Compliance & Regulatory Guide

​🏛️ Regulatory Framework

​GENIUS Act Compliance

Federal Oversight

Criminal Penalties

Monthly Attestations

Segregated Assets

​Jurisdictional Coverage

​👤 KYC Requirements

​Individual Accounts

​Business Accounts

​🛡️ AML Monitoring

​Transaction Screening

​Sanctions Screening

​📊 Transaction Limits

​Individual Limits

​Business Limits

​Limit Management

​🚨 Suspicious Activity Reporting

​Automatic SAR Filing

​🌍 Cross-Border Compliance

​FATF Travel Rule

​Currency Controls

​📋 Compliance Dashboard

​Real-Time Monitoring

​Audit Trail

​🔐 Data Privacy

​GDPR Compliance

​🔗 Resources

Compliance Policies

Regulatory Updates

Training Center

API Reference

ssUSD Compliance & Regulatory Guide

🏛️ Regulatory Framework

GENIUS Act Compliance

Jurisdictional Coverage

👤 KYC Requirements

Individual Accounts

Business Accounts

🛡️ AML Monitoring

Transaction Screening

Sanctions Screening

📊 Transaction Limits

Individual Limits

Business Limits

Limit Management

🚨 Suspicious Activity Reporting

Automatic SAR Filing

🌍 Cross-Border Compliance

FATF Travel Rule

Currency Controls

📋 Compliance Dashboard

Real-Time Monitoring

Audit Trail

🔐 Data Privacy

GDPR Compliance

🔗 Resources