FinP2P specification state that the Primary Node of each asset is the only node that can push transaction for their assets into their DLT. It also states that the Primary Node is responsible for verifying the regulation-compliance of such asset transactions. The FinP2P specification does NOT specify how regulation compliance will be implemented and different companies may use different approaches such as Oracles, Scripts etc. Ownera's implementation is the Regulation App Store.
The Ownera Reg App Store will allow regulation experts to deploy apps dealing with specific regulations, such as an app for Reg D or an app for Reg S. There may be multiple apps covering the same regulation by different providers at different price levels.
To comply with regulations, each asset (through its Primary Node) will simply choose which reg-apps apply to their asset, and then in real time, just before a transaction takes place – the relevant apps will be executed to decide if the transaction is compliant or not.
The tokenization layer itself connected to the FinP2P node through the adapter, may already implement the regulation compliance and report back to the FinP2P node using the adapter APIs.
Future versions will add additional "hooks" for checking against regulations apps in additional places along the user experience flow.
Updated 4 months ago