As of September 2024, TOKO FZE has rebranded its platform and services under the new name Scintilla Network. During this transition period, all references to TOKO FZE remain valid for regulatory and compliance purposes. The rebranding does not affect the regulatory licenses or obligations held by TOKO FZE.
Ensuring regulatory compliance is of utmost importance to our virtual asset platform. We take our responsibility to our customers seriously and have implemented robust processes and procedures to ensure compliance with all relevant factors related to virtual assets as defined by the VA Standards set out by the UAE regulatory authorities.
One of the key considerations we take into account is market capitalization, which provides an indication of the value and popularity of virtual assets. We also consider liquidity and whether metrics have trended downwards over time, which can provide insight into the stability of the market.
We take into account the design, features, and use cases of virtual assets, whether intended by the issuer or relevant developers, and whether there are features that may materially affect compliance with applicable laws, regulations, rules, or directives, including but not limited to those relating to AML/CFT, sanctions, securities, and intellectual property.
In addition, we consider regulatory treatment by VARA and other appropriate authorities, including whether the issuance of the virtual asset has received any regulatory approvals. We also ensure that we comply with any prohibitions or conflicts of interest that may arise in jurisdictions in which we provide virtual asset activities.
In dealing with any new virtual asset, we consider the future development of virtual assets as communicated by the issuer and/or relevant developers. Additionally, we take into account whether virtual assets may be susceptible to price manipulation for any reason and implement relevant mitigations.
We consider potential or actual conflicts of interest that may arise should we provide any virtual asset activities in relation to the virtual asset and relevant mitigations. We also evaluate the background of the issuer, including relevant experience in the virtual asset sector and whether it has been subject to any investigations or claims in relation to fraud or deceit.
Furthermore, we ensure that any represented rights to other assets are enforceable and that sufficient assets are available to satisfy any obligations related to virtual asset activities. We also ensure that our virtual asset terms and conditions reflect, to the extent possible, the operation of any existing underlying physical market and avoid adverse impacts to such market, if applicable. We regularly review our virtual asset terms and conditions to ensure they conform to standards and practices in that physical market, if applicable.
By adhering to these regulations and standards, we provide a secure and transparent virtual asset trading experience for our customers. We understand the importance of regulatory compliance and are committed to maintaining ongoing compliance by regularly reviewing and improving our processes and procedures. Our customers can trust that their virtual asset activities are conducted in a safe and compliant environment.
For additional information, please refer to VA Standards rules, Part VIII of VARA Market Conduct Rulebook.
TOKO FZE is committed to maintain and operate effective organizational and administrative arrangements to identify, monitor and manage any potential or actual conflicts of interest. Should such circumstances arise, TOKO FZE will adhere to its internal Conflicts of Interest Policy (to be reviewed on a regular basis) and tackle such conflicts in compliance with the applicable laws. TOKO FZE will also notify the relevant authorities if necessary.
Please refer to TOKO FZE Conflict of Interest Policy [download]
TOKO FZE is committed to developing an integrated framework for whistleblower protection, and ensures that no whistleblower, for reason of having made the disclosure:
Please refer to TOKO FZE Whistleblowing Policy [download]
TOKO FZE has been granted a Broker-Dealer Services license from the Virtual Assets Regulatory Authority (VARA) in Dubai, UAE. Dubai’s Virtual Asset Regulatory Authority (VARA) issued its Virtual Assets and Related Activities Regulations in 2023. The regulations set out a comprehensive Virtual Asset (VA) Framework built on principles of economic sustainability and cross-border financial security: Virtual Assets and Related Activities Regulations 2023.
Currently TOKO FZE does not have any live Virtual Asset offered in the market regulated by VARA. Once live, TOKO FZE will list below characteristics for each Virtual Asset listed on its OTC Broker-Dealer Primary Market Platform:
TOKO FZE leverages partners Regulated Virtual Assets Custodian licensed under the VARA Regime to support platform operations and safekeeping of Virtual Assets.
TOKO FZE has been granted a Virtual Assets Exchange Services license from the Virtual Assets Regulatory Authority (VARA) in Dubai, UAE. Dubai’s Virtual Asset Regulatory Authority (VARA) issued its Virtual Assets and Related Activities Regulations 2023. The regulations set out a comprehensive Virtual Asset (VA) Framework built on principles of economic sustainability and cross-border financial security: Virtual Assets and Related Activities Regulations 2023.
Currently TOKO FZE does not have any live Virtual Asset offered in the market regulated by VARA. Once live, TOKO FZE will list below characteristics for each Virtual Asset listed on its Exchange Secondary Market Platform:
TOKO FZE leverages partners Regulated Virtual Assets Custodian licensed under the VARA Regime to support platform operations and safekeeping of Virtual Assets.
TOKO FZE is committed to protecting the privacy of its clients, stakeholders, and partners. To ensure that personal data is handled with the utmost care and in compliance with applicable data protection laws, TOKO FZE has established comprehensive data privacy policies and procedures. These policies outline the collection, use, storage, and safeguarding of personal data, ensuring that all data is managed responsibly and securely.
For transparency, TOKO FZE publishes its Data Privacy Policy on its website, providing clear information about clients’ rights concerning their personal data, including how they can request access, rectification, or deletion of their data. The policy also details the security measures in place to protect data from unauthorized access or breaches. TOKO FZE reviews and updates its data privacy practices regularly to maintain compliance and uphold high standards of privacy protection.
Please refer to the TOKO FZE Data Privacy Policy for more detailed information.
TOKO FZE is dedicated to delivering a high standard of service to its clients and welcomes feedback as an essential part of improving its services. TOKO FZE has established a structured Client Complaints Policy to address any concerns promptly and fairly. This policy provides a clear process for clients to submit complaints, ensuring that each issue is carefully investigated and resolved in a timely manner.
To maintain transparency and trust, TOKO FZE publishes its Client Complaints Policy on its website. This policy outlines the steps clients should follow to file a complaint, the timelines for responses, and the measures TOKO FZE takes to resolve complaints satisfactorily. TOKO FZE is committed to addressing client complaints with diligence and respect, using them as an opportunity to enhance its services continuously.
For further details, please refer to the TOKO FZE Client Complaints Policy.
How to contact us
If you have any questions about this Public Disclosure information, please contact us by sending an email to contactus@toko.network.
