Regulatory Compliance & Transparency
To be updated
Licences and approvals (if required) are not assured in all jurisdictions
Pools Chain intends to operate in full compliance with applicable laws and regulations and use its best endeavours to obtain any necessary licences and approvals (if any). It is not possible to guarantee, and no person makes any representations, warranties or assurances, that any such licences or approvals will be obtained within a particular timeframe or at all. Moreover, laws and regulations evolve so Pools Chain makes no guarantees, representations, or warranties that it will be able to obtain any necessary licences or approvals that may be implemented in the future. Accordingly, Pools Chain may be required to restructure the Ecosystem Support initiatives and other activities described in this white paper or such services may be unavailable in all or certain respects in certain jurisdictions or may not be available at all.
Cryptocurrency regulations
Pools chain advocates that compliance with regulations on cryptocurrencies is not only a legal responsibility but also a way to build trust and support from the public and stakeholders.
Regulations on user information security
If personal data is involved in the blockchain application, regardless of whether it is stored or processed on-chain or off-chain, the Pools chain operator develops and implements policies and practices that foster awareness and accountability over personal data in all blockchain participants.
In order to do this, the Pools chain operator considers implementing a (“DPMP”). As part of the DPMP, the blockchain operator will, where applicable:
Set policies and rules to determine the roles, responsibilities and rights of each participant in the blockchain application. This includes defining what constitutes authorised access, who can obtain authorised access and what data can or cannot be committed on- and off-chain (e.g. only encrypted data can be committed on-chain). Where possible, use legally binding mechanisms (e.g. contractual consortium agreements and terms of use) and get all participants (including ASPs, node operators and participating organisations) to agree to abide by these policies as a pre-condition for joining the network.
Conduct a Data Protection Impact Assessment (“DPIA”) to identify and assess potential risks to personal data in the blockchain network and application. The DPIA should:
Identify the personal data accessed on and collected from the blockchain, as well as the reasons for such access and collection.
Identify how the personal data flows through the network and processes.
Identify the potential risks of personal data being captured and committed in-clear on the blockchain against the requisite processes.
Address the identified risks by implementing changes to the design of the network or application, or introducing policies.
Check if risks are adequately addressed before the blockchain network and application are implemented.
Advertising regulations
First, Pools Chain ensures that all advertisements are truthful and not misleading. This means providing accurate information about the Pools chain, its features, and any associated products or services. Any claims made in advertisements must be substantiated and supported by evidence.
Second, Pools Chain advoid false or exaggerated statements that may mislead or deceive consumers. Advertisements should be clear and concise, avoiding any ambiguity or confusion. It is important to provide accurate and relevant information to enable users to make informed decisions about the blockchain platform.
Additionally, compliance with advertising regulations involves respecting the rights and privacy of individuals. Personal data will not be used without proper consent and will be handled in accordance with applicable data protection laws. Any use of personal information in advertisements should be transparent and in compliance with privacy regulations.
Furthermore, Pools Chain ensures that our advertisements do not violate any intellectual property rights or infringe upon the trademarks or copyrights of others. It is essential to obtain proper authorization or licenses when featuring third-party content in advertisements.
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