For Stakeholders

Verra Updates Registry Terms of Use

Verra released today an updated version of its Registry Terms of Use (TOU).

The updated TOU establishes guidelines for the responsible use of the Registry, including by:

  • Requiring accountholders who conduct specified business activities, such as holding VCUs on behalf of third parties, to represent that they hold all necessary regulatory approvals and have conducted Know-Your-Customer checks;
  • Requiring accountholders to seek Verra’s written consent if creating, marketing, or transacting in “related instruments”, such as derivative products backed by VCUs;
  • Prohibiting account-holders from holding or brokering VCUs on behalf of individuals (i.e., natural persons) for investment purposes, though personal offsetting services would still be permitted;
  • Formalizing Verra’s commitment to act as a “reasonable and prudent operator” of the Registry.

The updated Terms of Use are available on Verra’s website.

 

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