---
description: >-
  Regulation Definition: A rule or directive made and maintained by an
  authority.
---

# Are PHARMA Tokens Regulated?

![](https://3793447250-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FO7W4pc5eosLdhomkAh7o%2Fuploads%2FbnMisSeIAJcD8ddKRgoL%2Firs-form-8996-qualified-opportunity-fund-lies-on-f-2021-08-30-04-33-33-utc.jpg?alt=media\&token=8625a5db-c08b-4cce-a0d6-fc123d030e13)

Currently we are in the process of registering as Money Service Business (MSB)with FinCEN, the US Financial Crimes Network.&#x20;

Additionally, to fulfill compliance and regulatory, we have submitted Letters of Intent to the US CFTC, SEC, and FDA.&#x20;

Crypto still is a grey area in US Law, but this is changing daily. Technically, the CFTC oversees cryptocurrency, and, it is treated as a derivative and we will follow compliance.

Lastly, **we expect to ban countries** in which we may not do business as per US Law, and this may or may not include customers from the US purchasing our #Derivative while we obtain the proper licenses.&#x20;
