Zula LLC operates under U.S. federal and state financial regulations governing Money Services Businesses. The information below is provided so that any member of the public can independently confirm our regulatory standing.
Zula LLC is registered as a Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.
What is an MSB?
A Money Services Business is a category of non-bank financial institution defined in 31 C.F.R. § 1010.100(ff). Persons in the United States that engage in money transmission, exchange of currency, or dealing in convertible virtual currency are generally required to register with FinCEN as an MSB and to comply with the Bank Secrecy Act (BSA), including:
Maintaining a written anti-money-laundering (AML) program
Verifying the identity of customers (KYC) and conducting ongoing due diligence
Filing Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) where applicable
Screening customers and counterparties against U.S. sanctions lists
Retaining records of customer activity for at least five years
Washington State licensing
Washington Money Transmitter
License No. 550-MT-159100
Zula LLC is licensed as a money transmitter by the Washington State Department of Financial Institutions (DFI) under the Washington Uniform Money Services Act (RCW 19.230).
What does the Washington money transmitter license allow?
The license authorizes Zula LLC to engage in money transmission in or from the State of Washington, including the receipt of monetary value (including virtual currency) for transmission to another location or person. Licensed money transmitters in Washington are subject to:
Minimum net-worth, surety-bond, and permissible-investment requirements
Periodic regulatory examinations by the Washington DFI
Recordkeeping, reporting, and consumer-protection requirements under RCW 19.230 and WAC 208-690
Verify our regulatory status
Our registrations are on the public record. Anyone can verify our status using these official U.S. regulatory resources:
Washington State Department of Financial Institutions (DFI) — the state regulator that licenses and supervises money transmitters in Washington:
https://dfi.wa.gov
Compliance program
Our compliance program is described in detail in our AML / KYC Policy. Key elements include:
A designated Compliance Officer responsible for the AML program
Customer Identification Program (CIP) at onboarding, including government-ID verification
Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) for higher-risk relationships
Sanctions screening against OFAC and other applicable lists at onboarding and on an ongoing basis
Transaction monitoring, including screening of counterparty wallet addresses
Recordkeeping and regulatory reporting in accordance with the BSA
Annual independent testing and ongoing employee training
Permitted jurisdictions
Services are limited to permitted jurisdictions and are subject to the outcome of identity verification and sanctions screening. Services are not available to:
Persons or entities listed on U.S. OFAC sanctions lists
Persons located in jurisdictions subject to comprehensive U.S. sanctions
U.S. states or other jurisdictions where Zula LLC is not authorized to provide the service
Individuals under 18 years of age
Service limitations
Zula LLC does not operate a cryptocurrency exchange and does not provide trading, brokerage, staking, lending, or investment products. Specifically, our service does not include and we do not offer:
No trading or exchange. We do not operate an order book, matching engine, or any platform for buying or selling digital assets against fiat or other digital assets.
No brokerage. We do not place trades on behalf of customers or route customer orders to third-party venues.
No investment products. We do not offer securities, derivatives, futures, options, contracts for difference, or any product representing a managed investment scheme.
No yield, staking, or lending. We do not pay interest, rewards, yield, or any return on assets held in custodial accounts, and we do not lend, rehypothecate, or stake customer assets.
No financial or investment advice. Information provided through the service or this website is general in nature and is not a recommendation to buy, sell, or hold any digital asset.
The service is strictly limited to identity-verified custody of supported digital assets and the processing of customer-initiated transfers, subject to the AML/KYC and sanctions controls described above.
Risk disclosure
Cryptocurrency is highly volatile. The value of digital assets can decrease as well as increase, and you may lose some or all of the funds you transfer to your account. Past performance is not indicative of future results. Zula LLC does not provide investment, tax, or legal advice and does not guarantee returns of any kind.