Reply To: How do trade finance country-specific compliance norms and laws vary?

Compliance laws and regulations for international trade financing differ by jurisdiction and can be fairly intricate. Domestic laws and international regulations and rules often govern trade finance. In industrialized nations, trade finance is governed by government bodies that regulate financial institutions and ensure compliance with guidelines.

In the United States, the OCC (Office of the Comptroller of the Currency), the (SEC) Securities and Exchange Commission, and the Federal Reserve regulates trade finance. The ECB (European Central Bank) and the (EBA) European Banking Authority govern trade finance in the European Union.
Trade finance laws may need to be more well-established or severely enforced in underdeveloped nations.

As a Singapore-based fintech company, Triterras is subject to the regulatory scrutiny of the MAS (Monetary Authority of Singapore) and must adhere to Singapore’s trade finance laws and regulations. Triterras also operates internationally; therefore, it must abide by the rules and regulations of any country where it conducts business. This involves adhering to AML (anti-money laundering) and CFT (countering the funding of terrorism) legislation.

Additionally, the corporation must adhere to the regulations of the nations in which its clients reside. In addition, numerous developing nations have rules that might align with international norms. In addition, Kratos, Triterras’ blockchain-based platform, must comply with all rules and regulations pertaining to the use of digital and blockchain assets.