Regulatory information, licensing status, and compliance framework for PrimeAxis and Ethio American LLC.
Ethio American LLC is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB) pursuant to 31 C.F.R. Part 1022. This registration is maintained in good standing and is subject to ongoing renewal and compliance review.
Bank Secrecy Act (BSA): We maintain a written Anti-Money Laundering (AML) program as required by the Bank Secrecy Act (31 U.S.C. 5318(h)). This program includes internal policies and procedures, designation of a compliance officer, ongoing employee training, and independent audit functions.
USA PATRIOT Act: In compliance with Section 326 of the USA PATRIOT Act (31 U.S.C. 5318(l)), we maintain a Customer Identification Program (CIP) that requires verification of the identity of each customer prior to opening an account or permitting any transaction.
State Money Transmission Licensing: Ethio American LLC holds or has applied for money transmission licenses in states where applicable law requires such licensing for the services we offer. Services may not be available in all states. Customers are informed of state-specific availability during the account registration process.
OFAC Compliance: We screen all customers and transactions against the Specially Designated Nationals and Blocked Persons (SDN) List and other lists maintained by the US Office of Foreign Assets Control (OFAC). Transactions involving sanctioned persons or jurisdictions are blocked and reported as required.
Our Anti-Money Laundering and Know Your Customer program is designed to prevent the use of our platform for money laundering, terrorist financing, or any other financial crime. The program is reviewed and updated at least annually and whenever changes in law or our services require it.
Identity Verification: All customers are required to provide government-issued photo identification, proof of residential address, and biometric confirmation before any account is activated. Beneficial ownership information is collected for entity accounts in accordance with FinCEN's Customer Due Diligence rule (31 C.F.R. 1010.230).
Transaction Monitoring: All transactions are subject to automated and manual monitoring for patterns consistent with money laundering, structuring, or other suspicious activity. Monitoring thresholds and rules are maintained and updated in accordance with current regulatory guidance and typologies.
Suspicious Activity Reporting: We are required by law (31 U.S.C. 5318(g)) to file Suspicious Activity Reports (SARs) with FinCEN when we know, suspect, or have reason to suspect that a transaction involves funds derived from illegal activity, is designed to evade reporting requirements, or lacks a lawful purpose. We are legally prohibited from disclosing SAR filings to the subject of the report.
Currency Transaction Reporting: We file Currency Transaction Reports (CTRs) with FinCEN for transactions in currency exceeding $10,000 in a single business day, as required by 31 C.F.R. 1010.311.
No Anonymous Transactions: No transaction is permitted without verified identity. There are no exceptions to this requirement under any circumstances.
Cryptocurrency involves substantial risk of loss. Past performance is not indicative of future results. Not FDIC insured. Not bank guaranteed.
Digital assets are not legal tender and are not backed by any government or governmental agency. The value of cryptocurrencies can be highly volatile. You may lose some or all of the value of any digital asset you hold or trade through PrimeAxis.
Digital asset markets operate continuously. Prices can change rapidly and significantly outside of normal business hours. Market conditions, regulatory changes, technological failures, and other factors outside our control may affect the value and accessibility of digital assets.
Transactions on blockchain networks may be irreversible. Once confirmed, a transaction generally cannot be reversed or recalled. PrimeAxis is not responsible for losses arising from transactions that you authorized.
The regulatory environment for digital assets in the United States continues to evolve. Changes in law or regulatory guidance may affect the availability or nature of our services. We are committed to maintaining compliance with applicable law as it develops.
This disclosure is provided for informational purposes only. It does not constitute investment advice, financial advice, trading advice, or any other type of advice. You should consider consulting a qualified financial professional before participating in digital asset markets.
Error Resolution: If you believe that an error has occurred in connection with your account or a transaction, you have the right to request an investigation. To report an error, contact us at support@primeaxis.co.com or +1 888 811 2646. Provide your account information, a description of the error, and the date and amount of the transaction in question. We will investigate and provide a written response within the timeframe required by applicable law.
Complaint Submission: You may submit a complaint to PrimeAxis by email at support@primeaxis.co.com, by phone at +1 888 811 2646, or in writing to 1111 N Capitol Ave, San Jose, CA 95133. We acknowledge complaints within two business days and provide a substantive response within fifteen business days, or as otherwise required by applicable law. If you are not satisfied with our response, you may escalate your complaint to your state financial regulator or to the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov.
Cancellation Rights: Cancellation rights for digital asset transactions are described in our Terms of Use. Because digital asset prices change rapidly and transactions may be executed quickly, cancellation rights are limited once a transaction is confirmed. The specific cancellation window and process are disclosed at the time of each transaction before confirmation is required.
Ethio American LLC collects and processes personal information in connection with account opening, identity verification, transaction processing, and our legal compliance obligations. A full description of our data practices is set out in our Privacy Policy.
We implement technical and organizational security measures to protect personal information from unauthorized access, disclosure, alteration, or destruction. These measures include encryption, access controls, and employee training.
California Residents (CCPA/CPRA): California residents have specific rights under the California Consumer Privacy Act of 2018 and the California Privacy Rights Act of 2020, including the right to know, right to delete, right to correct, and the right to opt out of sale of personal information. We do not sell personal information. To exercise CCPA/CPRA rights, see our Privacy Policy or contact us at support@primeaxis.co.com.
Personal information collected for AML/KYC purposes is retained for the minimum period required by the Bank Secrecy Act (generally five years from account closure or the date of the last transaction). Other personal information is retained only as long as necessary for the purpose for which it was collected.