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Prohibited and Restricted Activities

Last Updated: January 1st, 2025
 

The examples listed below are not exhaustive and we reserve the right to modify or update the lists below at any time by posting a revised version to our website. The revised version will be immediately effective upon posting.


Prohibited Activities List


If we determine in our sole discretion that you engage or have engaged in the activities listed below, or are authorizing, facilitating, or helping others to do so, or otherwise are engaged in activities that are illegal, may harm others or our reputation or operations, or violate our or others’ rights, we may deny, terminate, or suspend your use of the Services:


Countries, governments, entities and individuals subject to sanctions or included in any applicable government prohibitions;


Personal transactions within a commercial customer’s account;
Exchanges and other entities that offer direct onboarding or offboarding of cryptocurrency related activity on behalf of consumers;


Marijuana-related businesses (MRB) (such as manufacturers, dispensers, and those engaged in medical marijuana or other so-called “touch the plant” activities), including companies whose main source (more than 50%) of revenue is derived from this type of activity are prohibited*;


*Federal law (Controlled Substances Act (CSA)) prohibits the distribution and sale of marijuana, financial transactions involving an MRB would generally involve funds derived from illegal activity. Therefore, we are required to file on activity involving an MRB.

https://www.fincen.gov/sites/default/files/shared/FIN-2014-G001.pdf


Anonymous or numbered accounts or Customers seeking to maintain an account in an obviously fictitious name;


Bearer share companies where the shares have not been recorded on a share register or are not held with a local custodian;


Shell banks – i.e., an entity that has no physical existence in the country in which it is incorporated and licensed, and which is unaffiliated with a regulated financial group that is subject to effect consolidated supervision (see Section 313 of the USA PATRIOT Act);


Unlicensed or unregistered Money Transmitter Activity – i.e., companies offering services involving money/currency exchange, money transfer, cheque cashing, and issuing or selling travelers cheques, money orders or stored value cards that meet the regulatory definition;


Unlawful Internet Gambling Companies, and companies whose main source (more than 50%) of revenue is derived from supporting gambling or wager activities unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received, or otherwise made as defined by the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) and Regulation GG;


Adult entertainment and services businesses, such as escorts and prostitution, pornography and obscene media companies, and other sexually related online or social media related services such as sexually-related adult live chats, sexually motivated dating services, and pornographic pay per view services;


Companies whose business model is indicative of a Ponzi scheme, pyramid selling, pump and dump schemes, or other forms of “get rich quick” business models;
Individuals, groups, or companies that promote terrorism, hate, bigotry, racism, abuse, or harassment. This includes but is not limited to discrimination or violence against any group based on race, religion, disability, gender, sexual orientation, national origin, or any other immutable characteristic;


Persons or companies primarily involved in trading or manufacturing of weapons, ammunition, explosive devices, or firearm manufacturing; 
Companies involved in the sale of consumer data such as personally-identifying information on a non-anonymized basis;


Companies involved in the manufacturing of counterfeit goods or goods meant to infringe on intellectual property rights;


Gems and mining businesses, precious metals, and commodities extraction or trading;
Payday lenders;


Missions, embassies and consulates;


Pseudo-medical and pseudo-pharmaceutical companies such as those involved in the commercial sale of experimental treatments or treatments claiming medical benefits; or
Any persons or companies involved in illegal activity including those involved in the trade of illegal products and services or providing support for the trade of such products and


Restricted Activities List


If we determine in our sole discretion that you engage or have engaged in the activities listed below, or are authorizing, facilitating, or helping others to do so, you may be required to provide additional information or documentation or may be ineligible for certain Services:


Dealing in cryptocurrency, digital assets, or digital currency;


Licensed financial services, including those of banks or bank affiliates, securities brokers, money transmitters, investment companies, or investment funds;


Production, sale, or distribution of "gray market" goods or services;


Production, sale, or distribution of Schedules II-V controlled substances with a pharmaceutical license, where such schedules are defined by the DEA; and


Activities that Chariot, in its sole discretion, identifies as high-risk


Please contact us if you are unsure whether your business or activities are permitted by Chariot.
 

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