A physical office mandate is a regulatory requirement compelling a business to maintain a tangible, brick-and-mortar presence within a specific jurisdiction. This typically involves establishing a registered office, often with designated staff, to facilitate oversight and local operations. Such mandates ensure local accountability and compliance.
Context
For cryptocurrency firms, physical office mandates are becoming more common as regulators seek to establish clearer jurisdictional control and oversight. News reports often discuss how these requirements impact the operational strategies and global expansion plans of digital asset companies. The debate centers on balancing regulatory needs for physical presence with the decentralized and often remote nature of many crypto operations.
Kenya's VASP Bill operationalizes global AML standards, requiring all digital asset service providers to secure annual licenses and establish local physical presence.
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