On-Chain Compliance
OwnBlock enforces regulatory compliance at the smart contract level using the ERC-3643 token standard
ERC-3643 Token Standard
On-chain compliance enforcement
What is ERC-3643?
ERC-3643, also known as T-REX (Token for Regulated EXchanges), is a token standard designed specifically for security tokens. It enforces regulatory compliance at the smart contract level, ensuring that only eligible investors can hold and transfer tokens.
Key Features
Transfer Restrictions
Only whitelisted addresses that have passed KYC/AML checks can receive tokens
Identity Verification
KYC/AML checks are performed before investors can be whitelisted
Forced Transfers
Regulatory authorities can force transfer tokens if required
Granular Permissions
Different roles and permissions can be assigned to various stakeholders
Compliance Workflow
1. KYC Verification
Users complete KYC verification via Self Protocol, which creates a verifiable credential
2. Whitelist Addition
Upon successful KYC, the user's address is added to the token's whitelist
3. Transfer Validation
When a transfer is initiated, the smart contract checks if both sender and receiver are whitelisted
4. Transaction Execution
The transfer is only executed if all compliance checks pass, otherwise it's rejected
Compliance Status Indicators
Visual indicators for compliance status
Whitelisted Status
Whitelisted users have completed KYC verification and can buy and transfer tokens
Pending Status
Users with pending KYC must complete verification before they can buy tokens
Blacklisted Status
Blacklisted users cannot buy or receive tokens due to failed compliance checks