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Compliance Report

📅Data last reviewed April 2026
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Acme RWA — fictional real-estate token issuer (Seed €2M). Comparing France · UAE · Singapore for incorporation.

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Regul8 — Compliance Report

May 17, 2026

Activities: RWA — Real-World Asset Tokenisation — Jurisdictions: France · UAE / Dubai · Singapore

regul8app.vercel.app · General information only, not legal advice.

💰Tax treatment

Tax summary per jurisdiction (shared across all activities). General information, not tax advice.

🇫🇷France

Individuals: 30% PFU flat tax (12.8% IR + 17.2% social) on occasional gains; pro traders taxed as BIC/BNC. Mining: BNC. Crypto-to-crypto = non-taxable until fiat-conversion.

🇦🇪UAE / Dubai

NO personal income tax on crypto for individuals. Companies: 9% corporate tax on profits > AED 375K (since June 2023). VAT exempt on crypto transfers (Nov 2024).

🇸🇬Singapore

NO capital-gains tax. Trading as business: 17% corporate income tax. GST exempt on payment tokens (since 2020). Personal income only if classified as business income.

RWA — Real-World Asset Tokenisation

Field
🇫🇷France
🇦🇪UAE / Dubai
🇸🇬Singapore
Applicable Regime
The legal text that grounds it all — scope & territorial reach
📜MiCA ART↗📜MiFID II· if securities↗📜DLT Pilot Regime↗
📜ADGM
•MAS SFA· Capital Markets Products↗
Risk Level
How critical non-compliance is for your activity
HighMediumMedium
OUTPUTS — What you must do
Licences Required
The concrete authorizations you must obtain
  • 🪪CASP
  • DLT Pilot Regime participation (sandbox)
  • Prospectus (if securities)
  • FSRA licence (ADGM)
  • 🪪DFSA licence🪪IFC
  • Capital Markets Services licence
  • Recognized Market Operator (if exchange)
Key Obligations
Daily compliance duties (KYC, AML, Travel Rule…) — Custodial badge at the top of each cell
🔐 Grey zone
  • • Prospectus Regulation compliance
  • • MiFID II if securities
  • • AML/KYC
  • • Asset valuation and audits
  • • Investor suitability assessment
🔐 Grey zone
  • • Prospectus requirements
  • • KYC/AML
  • • Custody of underlying assets
🔐 Grey zone
  • • SFA prospectus
  • • KYC/AML
  • • Ongoing disclosure
CONTEXT — When, how much, with whom
Estimated Timeline
How long to obtain the licence + go live
12–24 months6–12 months6–18 months
Estimated Cost
Licence fees + capital + ongoing costs
€100K–€500K+$75K–$250KSGD 100K–400K
Regulator
The body that supervises and issues the licence
🏛️ESMA🏛️AMF🏛️NCAFSRA ADGM / DFSA DIFC🏛️MAS
Alternative Jurisdictions
Other jurisdictions to consider for the same activity
→ Liechtenstein TVTG (Physical Validator SP)
→ Switzerland (DLT Act)
→ Singapore
→ Singapore
→ EU DLT Pilot
→ Liechtenstein
→ EU DLT Pilot
→ Liechtenstein TVTG
IMPLEMENTATION — How, with who
🔐 Custody
Regulated custodians operating in the jurisdiction (top 3)
🔐Ripple Custody🧱Fireblocks🛡️BitGo+ 3 more →
No regulated custodian known hereNo regulated custodian known here
💸 Payment
Payment / on-off-ramp providers covering the jurisdiction (top 3)
Not a payment-rail activityNot a payment-rail activityNot a payment-rail activity
🛡️ KYC / AML
KYC/AML vendors serving the jurisdiction (top 3)
✅Sumsub👤Onfido (Entrust)🛂Jumio+ 10 more →
✅Sumsub🌍World-Check (LSEG)📨Notabene
✅Sumsub🛂Jumio🌐Trulioo+ 6 more →
🇫🇷
XRPLSpecific Note

XRPL supports RWA tokenisation via IOU/Trust Lines (existing) or MPT XLS-33 (programmable compliance flags). Escrow enables delivery-vs-payment. Trust Line freeze flags provide compliance enforcement.

🛠 ZOOM ON IMPLEMENTATION — How you can do this

Providers, vendors and partners that can run your compliance stack in the selected jurisdictions. Filtered by activity (custody, payment, AML/KYC) and jurisdictional coverage.

🛡️ AML / KYC vendors for your jurisdictions

A regulated activity typically needs KYC at onboarding, sanctions / PEP screening, transaction monitoring, and Travel Rule messaging. Here are the established providers that operate in (or passport into) your jurisdictions, grouped by function. Sumsub covers identity + Travel Rule in a single SDK; Chainalysis / Elliptic / TRM have native XRPL coverage.

✅
Sumsub🇪🇺🇬🇧🇺🇸🇸🇬🇦🇪
sumsub.com
🪪KYC / IDV🛡️Sanctions / PEP📨Travel Rule

Model: KYC + KYB + AML monitoring + Travel Rule under one roof. Strong in EU + emerging markets, MiCA-aligned. ~5,000 clients including major crypto exchanges.

Crypto coverage: Chain-agnostic. Used by XRPL VASPs needing onboarding KYC + Travel Rule + monitoring in a single SDK.

👤
Onfido (Entrust)🇬🇧🇪🇺🇺🇸
onfido.com
🪪KYC / IDV

Model: IDV + biometric verification + ongoing monitoring. Acquired by Entrust (2024). Strong in UK / EU / US fintech and crypto markets — Coinbase Europe, Revolut historic clients.

🛂
Jumio🇺🇸🇪🇺🇬🇧🇸🇬
www.jumio.com
🪪KYC / IDV

Model: AI-powered IDV — document verification + biometric liveness + ongoing monitoring. Used by major exchanges (Bitstamp, Bitpanda, Bitso) and banks. SOC2 + ISO 27001.

🎭
Persona🇺🇸🇪🇺🇬🇧
withpersona.com
🪪KYC / IDV

Model: No-code IDV platform with high configurability. Used by US-first fintech / crypto firms — Block (Cash App), Brex, Robinhood. Strong KYB + business-verification module.

🆔
Veriff🇪🇺🇬🇧🇺🇸
www.veriff.com
🪪KYC / IDV

Model: IDV across 230+ countries, 11K+ document types. Estonian-base + EU MiCA-aligned. Used by Bolt, Wise, Kraken, Bitstamp.

🌐
Trulioo🇨🇦🇺🇸🇪🇺🇬🇧🇸🇬
www.trulioo.com
🪪KYC / IDV🛡️Sanctions / PEP

Model: GlobalGateway — KYC + KYB across 195 countries via 450+ data sources. Strong in B2B verification (UBO, business registry checks). Canadian-base, served by major banks + crypto firms.

🛡️
ComplyAdvantage🇬🇧🇺🇸🇪🇺🇸🇬
complyadvantage.com
🛡️Sanctions / PEP

Model: AI-powered sanctions / PEP / adverse-media screening + ongoing monitoring. Strong in fintech and crypto — Coinbase, Gemini, BitGo, Klarna among clients. Real-time data updates.

🌍
World-Check (LSEG)🇬🇧🇺🇸🇪🇺🇸🇬🇦🇪
www.lseg.com/en/risk-intelligence/world-check
🛡️Sanctions / PEP

Model: Refinitiv's World-Check (now part of LSEG) — the gold-standard sanctions / PEP / heightened-risk database. Curated by 400+ analysts; used by Tier-1 banks worldwide.

📚
LexisNexis Risk Solutions🇺🇸🇬🇧🇪🇺
risk.lexisnexis.com
🛡️Sanctions / PEP

Model: Bridger Insight XG sanctions screening + Accuity payment screening. Strong in regulated banking + crypto on-ramp. US-base with global reach.

🔗
Chainalysis🇺🇸🇬🇧🇪🇺🇸🇬🇦🇺
www.chainalysis.com
⛓️Chain analytics

Model: Industry-standard crypto transaction monitoring + investigations + sanctions screening. Used by US Treasury / IRS / FBI + most regulated exchanges. Reactor (investigations) + KYT (Know Your Transaction) products.

Crypto coverage: Native XRPL coverage — XRPL transactions + IOU flows + AMM tracked. Reactor supports XRPL investigations. RLUSD coverage from launch.

🌀
Elliptic🇬🇧🇺🇸🇪🇺🇸🇬
www.elliptic.co
⛓️Chain analytics

Model: Crypto-native AML platform — Holistic (cross-chain monitoring) + Lens (entity intelligence). UK-base, MiCA-aligned. Strong in EU + UK regulated markets. Coinbase, Revolut, Binance among clients.

Crypto coverage: XRPL covered. Cross-chain heuristics for stablecoin tracing (USDC, USDT, RLUSD).

🔭
TRM Labs🇺🇸🇬🇧🇪🇺🇸🇬
www.trmlabs.com
⛓️Chain analytics

Model: Real-time blockchain intelligence + sanctions screening + investigations. Used by US Secret Service, FBI, OFAC + major crypto exchanges. Strong in compliance automation for institutional flows.

Crypto coverage: XRPL native coverage. RLUSD tracking from issuance.

📨
Notabene🇺🇸🇪🇺🇬🇧🇸🇬🇦🇪
notabene.id
📨Travel Rule🛡️Sanctions / PEP

Model: Leading Travel Rule messaging network for VASPs (FATF R.16). Pre-transaction sanctions screening + counterparty verification. 1,200+ VASPs onboarded. Founded by post-FATF Travel Rule architects.

Crypto coverage: Chain-agnostic — works for XRPL VASPs that need MiCA / Travel Rule compliance from day one.

Public information — not a recommendation. Verify current certifications (SOC2, ISO 27001) and jurisdictional coverage with each vendor before integration.

🏛️ Official portals by jurisdiction

Regulators, public registers and law texts to verify directly at the source. Opens in a new tab.

🇫🇷France
  • RegulatorAMF — DASP / PSAN portal ↗
  • Public registerAMF — PSAN public register ↗
  • GuidanceANJ — JONUM (game tokens) ↗
  • TaxDGFiP — crypto tax guidance ↗
🇦🇪UAE / Dubai
  • RegulatorVARA — Dubai Virtual Asset Regulatory Authority ↗
  • Public registerVARA — Public licensee register ↗
  • RegulatorADGM FSRA — Virtual asset framework ↗
🇸🇬Singapore
  • Law textMAS — Payment Services Act ↗
  • Public registerMAS — Financial institutions directory ↗

📚 Official sources

Links to the laws and official guidance referenced in this report.

  • ↪
    MiCA — Regulation (EU) 2023/1114· European Parliament
  • ↪
    MiCA Articles 59-75 (CASP)· ESMA / National NCAs
  • ↪
    MiCA Title II (Asset-Referenced Tokens)· ESMA / EBA
  • ↪
    MiFID II — Directive 2014/65/EU· ESMA
  • ↪
    Prospectus Regulation (EU) 2017/1129· ESMA
  • ↪
    DLT Pilot Regime (EU) 2022/858· ESMA
  • ↪
    MAS Payment Services Act (PSA)· Monetary Authority of Singapore
  • ↪
    Liechtenstein TVTG (Token Act) 2020· FMA Liechtenstein

AI Compliance Audit

Personalised roadmap, risk analysis and recommendations — auto-generated

Regul8 provides general information for educational purposes only. This is not legal advice. Information may not be up to date. Always consult a qualified lawyer specializing in digital asset law for advice specific to your situation.

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