MaraPool, LLC partners with NYDIG, a New York based financial institution, to provide payment processing services.
Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account, or receives payments from a NYDIG custody account.
The USA Patriot Act requires firms to maintain comprehensive anti-money laundering programs. We use automated systems and staff to monitor compliance with these rules. To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, record, and verify information that identifies each person who opens an account.
What this means to you: When creating an account with MaraPool, we will ask for your name and/or business name, address, social security number and/or tax ID number, and other information that will allow us to identify you. Mara Pool will use this information to conduct required background checks utilizing Lexis Nexis (https://risk.lexisnexis.com/). We may also ask to see your driver's license or other identifying documents. Persons or businesses designated by the United States Office of Foreign Asset Control (OFAC) as Specially Designated Nationals, residents of restricted countries or employees of foreign governments or their agents may not open accounts at MaraPool.
Why we collect this information
The information we collect from you is necessary in order for us to comply with certain laws, including but not limited to federal, state, tax, and anti-money laundering laws, as well as certain requirements of regulatory agencies, including but not limited to FINRA, the SEC and various state regulators. We also use the information for purposes of providing and improving the quality of the MaraPool service, as well as in communications with you. On certain occasions, we may send you announcements relating to our Service, direct marketing or for requests for feedback. You can refuse to receive such messages in the future by clicking unsubscribe in one of the messages.
You must meet the following prerequisites before getting started with MaraPool.
- Your company must be domiciled in the United States.
- You must agree to the MaraPool Pool Services Agreement.
- You must complete the AML/KYC process.
- You must ensure your miners support the SHA-256 mining algorithm.
MaraPool reserves the right to update its policy from time to time. MaraPool will not provide individual notice of updates, and it is up to each participant to check for current policies and procedures at https://support.marapool.com/hc/en-us/sections/4403222909467-Announcements and https://marapool.com/