Compliance
Last updated
Last updated
As SQUIZITO operates at the convergence of technology and tokenized experiences, it is subject to a variety of legal and regulatory frameworks. This section outlines the primary legal considerations under Estonian and European laws, focusing on compliance in the areas of cryptocurrency, NFTs, and data protection.
Estonia is a forward-thinking jurisdiction when it comes to cryptocurrency and blockchain regulation. SQUIZITO operates under the legal framework governing cryptocurrencies and blockchain technology in Estonia, adhering to European Union directives on anti-money laundering (AML) and counter-financing of terrorism (CFT). Key compliance measures include:
Transaction Monitoring: Continuous monitoring of transactions on the platform to detect and report suspicious activities to Italian authorities.
Tax Considerations
In Estonia, cryptocurrency transactions are taxed based on their nature (e.g., capital gains). SQUIZITO provides users with the necessary tools and resources to meet their tax obligations regarding platform activities. Users are responsible for reporting any gains from cryptocurrency transactions according to their national tax laws.
While NFTs are not specifically regulated under Estonian law, SQUIZITO ensures compliance with broader legal categories relevant to the creation, sale, and transfer of NFTs:
Intellectual Property Rights: SQUIZITO ensures that all tokenized experiences (represented by NFTs) are compliant with intellectual property laws. Creators must verify that they hold the necessary rights to the content they wish to tokenize, and SQUIZITO’s terms of use clearly define the rights transferred upon the sale of NFTs.
Consumer Protection: SQUIZITO adheres to consumer protection laws to ensure that buyers are fully informed about the experiences they are purchasing and understand the nature of tokenized access. This includes transparent descriptions of the events, workshops, and VIP moments available through the platform.
SQUIZITO is fully compliant with the General Data Protection Regulation (GDPR), which applies to all European users, including those from Estonia. The platform ensures that personal data is protected according to the highest standards:
Data Protection Policies: Implementation of stringent data protection policies, including data minimization, securing data transfers, and ensuring user rights to access, correct, and delete personal information.
Data Officer Appointment: A Data Protection Officer (DPO) has been appointed to oversee compliance with GDPR requirements and to serve as a point of contact for data protection authorities.
