This page provides regulatory and compliance information for Ethio American LLC, the company that operates the Terenza platform. This information is provided for transparency and to assist customers, regulators, and other parties in understanding the legal standing of the platform.
Ethio American LLC is registered with the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of the Treasury, as a Money Services Business. This registration is required under the Bank Secrecy Act (BSA), 31 U.S.C. § 5311 et seq., for entities that engage in money transmission, currency exchange, or related financial services.
As a registered MSB, Ethio American LLC is subject to the full requirements of the BSA compliance regime, including but not limited to:
Compliance with the USA PATRIOT Act (Pub.L. 107-56) is integrated into the platform's onboarding and transaction monitoring processes. All customers are subject to identity verification and screening against OFAC sanctions lists before account activation.
State Licensing Notice: Services may not be available in all states. Availability is determined by applicable state money services business licensing requirements. Customers will be notified if services are unavailable in their state during the account opening process.
All accounts on the Terenza platform require identity verification before any transaction can occur. This requirement is mandatory under the USA PATRIOT Act and FinCEN's Customer Identification Program rules. There are no exceptions to this requirement.
The AML/KYC program maintained by Ethio American LLC includes the following components:
Customer Identification (CIP): Collection and verification of customer name, date of birth, address, and identification number. Government-issued photo ID is required for all individual customers.
Customer Due Diligence (CDD): Assessment of customer risk profile at account opening and on an ongoing basis. Enhanced due diligence (EDD) is applied to customers or transactions presenting elevated risk indicators.
Ongoing Monitoring: Transaction activity is monitored on an ongoing basis for patterns that may indicate money laundering, structuring, or other prohibited activity.
OFAC Screening: Customer names and transaction counterparties are screened against the OFAC Specially Designated Nationals (SDN) list and other applicable sanctions lists. Transactions involving sanctioned parties are blocked.
Recordkeeping: Customer identification records and transaction records are maintained for a minimum of five years as required under the BSA.
The following risk disclosures are provided for informational purposes. They do not constitute investment advice.
Cryptocurrency involves substantial risk of loss. The value of digital assets is highly volatile and can decrease significantly in short periods of time. You may lose some or all of the value of your digital assets.
Terenza services are not FDIC insured. Digital assets held on the platform are not deposits and are not guaranteed by any government agency or financial institution.
Terenza services are not bank guaranteed. Ethio American LLC is not a bank and is not subject to bank deposit insurance or bank regulatory protections.
Past performance of any digital asset is not indicative of future results. Historical price data should not be used as the basis for any investment decision.
This platform does not provide investment advice, financial advice, or recommendations to buy, sell, or hold any digital asset. All decisions are made solely by the customer.
Services may not be available in all states. Customers are responsible for determining whether use of the platform is lawful in their jurisdiction.
Ethio American LLC maintains procedures for handling customer complaints and resolving transaction errors. If you believe a transaction was processed incorrectly, you have the following options:
Direct Contact: Contact Terenza customer support at support@terenza.org or +1 (404) 566-5855 within 30 days of the transaction date. Provide the transaction date, amount, and description of the error. We will investigate and respond within a reasonable timeframe.
Regulatory Complaint: If you are not satisfied with our response, you may file a complaint with FinCEN, your state's financial regulatory authority, or the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov or by calling 1-855-411-CFPB (2372).
Error Resolution Process: Upon receiving a complaint, we will acknowledge receipt within five business days. We will complete our investigation and provide a written response within 45 days. If we determine an error occurred, we will correct it promptly.
Ethio American LLC collects and processes personal information in connection with the operation of the Terenza platform. Data collection is governed by our Privacy Policy, available at terenza.org/privacy.
For California residents, Ethio American LLC complies with the California Consumer Privacy Act of 2018 (CCPA) as amended by the California Privacy Rights Act of 2020 (CPRA). California residents have rights regarding their personal information, including the right to know, delete, correct, and opt out of the sale of personal information. We do not sell personal information.
Certain personal information collected during KYC onboarding is retained for the periods required under the Bank Secrecy Act and may not be deleted in response to a consumer request where retention is legally mandated.
For privacy inquiries or to exercise your rights under applicable law, contact: support@terenza.org.