Prohibited Policy
Introduction
This document outlines the prohibited countries and business activities that are not supported on the platform marketed by Silk. This information is provided to ensure transparency regarding jurisdictional restrictions and prohibited business types enforced by our regulated platform operator.
1. Prohibited Jurisdictions
1.1 Onboarding Restrictions
The platform prohibits onboarding any customer with ultimate beneficial owners (UBOs), directors, or operations residing in or targeting websites toward the following countries:
- Afghanistan
- American Samoa
- Anguilla
- Belarus
- Benin
- Bosnia and Herzegovina
- Burkina Faso
- Burundi
- Central African Republic
- Congo (Democratic Republic of)
- Cote d'Ivoire
- Cuba
- Eritrea
- Eswatini
- Fiji
- Guam
- Guinea
- Guinea-Bissau
- Haiti
- Iran
- Iraq
- Korea (Democratic People's Republic of)
- Kosovo
- Lebanon
- Liberia
- Libya
- Mali
- Marshall Islands
- Mozambique
- Myanmar
- Nicaragua
- Niger
- Nigeria
- Pakistan
- Palau
- Palestine
- Panama
- Russia Federation
- Samoa
- Sierra Leone
- Somalia
- South Sudan
- Sudan
- Syria
- Togo
- Trinidad and Tobago
- Türkiye
- Ukraine
- United States
- United States Minor Outlying Islands
- Vanuatu
- Venezuela
- Virgin Islands (U.S.)
- Western Sahara
- Yemen
- Zimbabwe
1.2 Transactional Restrictions
The platform does not support transaction activities involving the following jurisdictions, due to regulatory restrictions, international sanctions, or high-risk considerations:
- Afghanistan
- Belarus
- Burkina Faso
- Burundi
- Central African Republic
- Congo (Democratic Republic of)
- Cuba
- Eritrea
- Guinea
- Guinea-Bissau
- Haiti
- Iran
- Iraq
- Korea (Democratic People's Republic of)
- Lebanon
- Libya
- Mali
- Marshall Islands
- Mozambique
- Myanmar
- Nicaragua
- Niger
- Pakistan
- Palestine
- Russia Federation
- Somalia
- South Sudan
- Sudan
- Syria
- Ukraine
- Venezuela
- Western Sahara
- Yemen
- Zimbabwe
2. Prohibited Business Activities
The following categories of businesses and business practices are explicitly prohibited from using the services marketed by Silk:
- Businesses operating or running Hawala (informal banking system)
- Companies engaged in or providing illegal drugs and/or unlicensed drug-related activity
- Unregulated pharmaceuticals/food supplement companies (nutraceuticals)
- Activities relating to defence and munitions, including dual use
- Adult websites or services with prostitution, and the broadcasting/publication of pornography
- Binary options or unregulated investments
- Companies formed of bearer shares
- Companies dealing in counterfeit goods
- Pyramid schemes/multi-level marketing (MLM) schemes
- Shell banks and shell companies
- Unregulated charities
- Banks
3. Special Requirements
3.1 Financial Institutions
The platform does not provide services to Payment Service Providers (PSPs) or cryptocurrency firms as underlying clients. Additionally, the platform does not provide services to financial institutions or money service businesses (MSBs) that wish to engage in correspondence-style relationships involving transactions with or on behalf of their underlying clients (nested relationships).
4. Implementation
The regulated platform operator is responsible for all compliance screening, onboarding decisions, and enforcement of these prohibitions. Silk, as a marketing partner, does not make determinations regarding customer eligibility or conduct compliance reviews.
Last updated: April 2026