Regulatory Information
Non-Financial Service Statement
VR Wallet is exclusively a hardware security device for private key storage. Our product and company:
- Do NOT provide cryptocurrency exchange services
- Do NOT offer cryptocurrency trading capabilities
- Do NOT function as a custodial service for digital assets
- Do NOT provide investment advice or management services
Our sole function is to provide a secure hardware device that enables users to safely store their private cryptographic keys offline.
Regulatory Status of VR Factoring GmbH
VR Factoring GmbH operates as a regulated entity under German and European Union law:
| Authority | Registration | Status |
|---|---|---|
| Federal Financial Supervisory Authority (BaFin) | ID: 50028420 | Active / Compliant |
| Commercial Register (Handelsregister) | Bak Nr.: 121914 | Registered |
| Chamber of Commerce (IHK Frankfurt) | Member #87654 | Active |
As a regulated Technology Service Provider under §32 of the German Banking Act (KWG), we adhere to strict operational standards while providing hardware security solutions that operate outside the scope of financial service regulations.
Regulatory Framework
Our operations are conducted in compliance with the following regulatory frameworks:
- German Banking Act (KWG) - We operate as a regulated technology service provider.
- General Data Protection Regulation (GDPR) - We comply with all data protection requirements.
- German Anti-Money Laundering Act (GwG) - Our business practices include appropriate risk-based measures.
- Markets in Crypto-Assets (MiCA) Awareness - While our device is not directly regulated under MiCA as a non-custodial hardware solution, we maintain awareness of this regulatory framework.
Important Notice on Device Usage
Users of VR Wallet remain responsible for:
- Using the device in compliance with local laws and regulations
- Properly reporting digital assets as required by tax authorities
- Ensuring their activities comply with anti-money laundering regulations
- Meeting any applicable reporting requirements in their jurisdiction
VR Wallet provides secure storage capabilities only and does not absolve users of their legal responsibilities.
Product Certifications
VR Wallet hardware components have obtained the following certifications:
- Common Criteria EAL6+ Certification for the Secure Element chip - This is among the highest security certifications available for commercial hardware security products.
- FIPS 140-2 Level 3 for cryptographic module security
- CE Marking for European Economic Area product compliance
- RoHS Compliance for restriction of hazardous substances
These certifications ensure that our product meets strict international security and quality standards.
BaFin Registration Verification
To verify our regulatory status with BaFin, you can:
- Visit the BaFin company database at https://portal.mvp.bafin.de/database/InstInfo/
- Enter our BaFin ID: 50028420
- Or search by company name: "VR Factoring GmbH"
Our current regulatory status and permissions are publicly viewable through the BaFin portal.
If you have specific regulatory questions or require further information about our compliance program, please contact us directly.