💯Compliance
Last updated
Last updated
Currently, the services provided by Asteroid X are delivered through a specialized global structure, which includes a series of legal documents between the Asteroid X platform, its BVI-based partners, Australian local partners, and mining project clients. This structure ensures Asteroid X meets current global compliance requirements (Especially Australian) and provides Asteroid X with a differentiated competitive advantage, aiding in the construction of a robust competitive moat.
Asteroid X places a high priority on legal compliance and the integrity of our operations. We have developed a robust global structure involving a series of intricate legal agreements with our partners based in the British Virgin Islands, local Australian entities, and our mining project clients. This structure not only aligns with global and Australian legal frameworks but also provides a strong competitive edge, reinforcing our market position by constructing a robust competitive moat.
In collaboration with AHD Lawyers, a firm specializing in RegTech and Corporate Commercial Law, we have rigorously ensured that our operations adhere to Australian laws. This commitment extends to the preparation and execution of multiple legal documents with our partners and clients, designed to foster global adoption while maintaining stringent compliance standards.
Equity Control for Protection: To safeguard the interests of NFT holders, Asteroidx.io maintains ownership stakes in mining companies issuing these tokens. Should any fraudulent activities arise within these companies, our holding entity, as a shareholder, is prepared to initiate legal actions against the offending party. This proactive measure serves as a potent deterrent against misconduct, ensuring a layer of security for our investors.
Legal Agreements: Our operational framework includes six comprehensive legal agreements that encapsulate all dealings with the services of Asteroid X, mining companies and NFT holders. These documents are meticulously crafted to comply fully with both global and Australian legal standards, providing a secure and transparent foundation for all transactions on our platform.
Data Integrity and Third-Party Audits: To further enhance trust and accuracy, all mining companies wishing to list on our platform must integrate their operations with real-time governmental mining data. In this system, Asteroid X collaborates exclusively with third-party auditors who are qualified to conduct audits for companies seeking to list on the ASX. These auditors specialize in exploration mining technologies and are tasked with a critical role in verifying the legitimacy, reserves and viability of each mining project before it is listed on the platform. This rigorous validation process is critical in maintaining the integrity of our tokenization platform and in providing our clients and stakeholders with assured quality and compliance.
Through these strategic implementations, Asteroidx.io not only adheres to the highest standards of legal and regulatory compliance but also places paramount importance on protecting and advancing the interests of our stakeholders. Our approach is designed to instill confidence among investors, facilitate global adoption, and position Asteroidx.io as a leader in the transformative space of mining sector tokenization.
- July 2024
