Harmonising with Current and Evolving Regulatory Standards

Scallop, the parent company of E-Money Network has obtained a VASP licence from Poland allowing the provision of crypto services across Europe. Additionally, the company has been granted an MSB licence by FINTRAC enabling it to conduct banking operations in Canada. This licence empowers Scallop to establish a robust banking ecosystem in a key North American region offering a full range of regulated banking services to users and institutional partners.

In terms of financial practices, Scallop and its affiliate products diligently follow the Financial Reporting Standards and Statements of Standard Accounting Practice issued by the Accounting Standards Board. The company also adheres to industry-issued Statements of Recommended Practice, including those from reputable bodies like the International Accounting Standards by the IASB and International Standards of Auditing (UK and Ireland). Scallop maintains financial transparency in alignment with the Companies Act 2006.