Harmonising with Current and Evolving Regulatory Standards

Scallop is an independent regulated financial services provider that operates separately from E Money Network. Through a third-party partnership, Scallop provides licensed infrastructure, including a VASP licence from Poland allowing the provision of digital asset services across Europe. Additionally, Scallop holds an MSB licence issued by FINTRAC, enabling it to conduct regulated financial operations in Canada. These licences allow Scallop to deliver a robust financial infrastructure in key regions, which E Money Network may leverage as part of its operational framework.

In terms of financial practices, Scallop independently follows 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 such as the International Accounting Standards Board (IASB) and the International Standards on Auditing (UK and Ireland). Scallop maintains financial transparency in alignment with the Companies Act 2006, solely in relation to its own regulated activities.