Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 29

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 29
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As we expand and localize our international activities,
we will become increasingly obligated to comply with the laws, rules, regulations, policies, and legal interpretations of both the jurisdictions
in which we operate and those into which we offer services on a cross-border basis. For instance, financial regulators outside the United States
have increased their scrutiny of crypto asset service providers over time, such as by requiring crypto asset custodians and other service
providers operating in their local jurisdictions to be regulated and licensed under local laws. Moreover, laws regulating financial services,
the internet, mobile technologies, crypto, and related technologies outside of the United States are highly evolving, extensive and
often impose different, more specific, or even conflicting obligations on us, as well as broader liability. In addition, we are required
to comply with laws and regulations related to economic sanctions and export controls enforced by the U.S. Department of the Treasury’s
Office of Foreign Assets Control (“OFAC”), the U.S. Department of Commerce’s Bureau of Industry and Security, and
U.S. anti-money laundering and counter-terrorist financing laws and regulations, enforced by the Financial Crimes Enforcement Network
(“FinCEN”) and certain state financial services regulators. U.S. sanctions and export control laws and regulations generally
restrict dealings by persons subject to U.S. jurisdiction with certain jurisdictions that are the target of comprehensive embargoes,
currently the Crimea Region, the so-called Donetsk People’s Republic, and the so-called Luhansk People’s Republic of Ukraine,
Cuba, Iran, North Korea, and Syria, as well as with persons, entities, and governments identified on certain prohibited party lists. Moreover,
as a result of the Russian invasion of Ukraine, the United States, the E.U., the United Kingdom, and other jurisdictions have imposed
wide-ranging sanctions on Russia and Belarus and persons and entities associated with Russia and Belarus. There can be no certainty regarding
whether such governments or other governments will impose additional sanctions, or other economic or military measures against Russia
or Belarus. We have an OFAC compliance program in place that includes monitoring of IP addresses to identify prohibited jurisdictions
and of blockchain addresses that have either been identified by OFAC as prohibited or that otherwise are believed by us to be associated
with prohibited persons or jurisdictions. Nonetheless, there can be no guarantee that our compliance program will prevent transactions
with particular persons or addresses or prevent every potential violation of OFAC sanctions. From time to time, we have submitted voluntary