1. Operating entity

The Services are operated by EXCHANGE SAMODEX LIMITED (company number: 1035), registered office at 810 Century Tower, Avenida Ricardo J. Alfaro, Panama City, Republic of Panama. References to "TOSODEX", "we", "us" or "our" throughout our Terms of Use, Privacy Policy, AML Policy and this page refer to this entity and, where the context requires, its affiliates that support the SAMODEX Group.

2. Licensing status

Panama does not currently operate a bespoke licensing or registration regime specific to virtual asset service providers (VASPs). EXCHANGE SAMODEX LIMITED is incorporated and operates under general Panamanian commercial law. We are not a licensed bank, electronic-money institution, broker-dealer or securities exchange in any jurisdiction, and we do not hold ourselves out as such. We continue to monitor regulatory developments in Panama and in the jurisdictions our users access the Services from, and will update this page if that changes.

3. What this means for you

• Funds held on the platform are not covered by government deposit-insurance schemes — see our Risk Disclosure Statement.
• We are not subject to prudential supervision by a central bank or securities regulator the way a licensed bank or broker would be.
• You should independently confirm whether accessing a crypto-asset exchange like ours is permitted under the law of your own country of residence before using the Services — see Section 3 of our Terms of Use.

4. Compliance program

Notwithstanding the absence of a formal licensing regime, we maintain a risk-based Anti-Money-Laundering / Countering the Financing of Terrorism (AML/CFT) and Know-Your-Customer (KYC) compliance program modelled on international standards (including FATF recommendations), covering identity verification, transaction monitoring, sanctions screening and suspicious-activity reporting. Full detail is in our AML Policy.

5. Governing law & disputes

Our Terms of Use are governed by the laws of the Republic of Panama, and disputes that cannot be resolved by negotiation are referred to arbitration under the Rules of the Panamanian Arbitration Court, seated in Panama, in English. Full detail is in Section "Applicable law and dispute resolution" of our Terms of Use.

6. Law enforcement & regulatory cooperation

We cooperate with lawful requests from regulators and law-enforcement authorities. See our Law Enforcement Requests page for how we handle such requests.

7. Restricted jurisdictions

We do not offer Services to residents of jurisdictions subject to comprehensive sanctions, or where use of a crypto-asset exchange is prohibited by local law, including but not limited to persons or entities on relevant UN, EU, OFAC or UK HM Treasury sanctions lists.

8. Contact

Questions about our regulatory status or compliance program can be sent to compliance@tosodex.com or via Support.