3.1 All Users must apply for a PointPay Account at (www.pointpay.io) before using PointPay Services. The Company may refuse, in its absolute sole discretion, to open a PointPay Account for you. When you register a PointPay Account, you must provide your real name, email address and password, and accept these Terms, the Privacy Policy, and other PointPay Platform Rules. PointPay may refuse, in its sole discretion, to open a PointPay Account for you. You agree to provide complete and accurate information when opening a PointPay Account, and agree to timely update any information you provide to PointPay to maintain the integrity and accuracy of the information. Only one User can be registered at a time, but each individual User (including any User that is a business or legal entity) may maintain only one main account at any given time. Institutional Users (including Users that are businesses and other legal entities) can open one or more subaccounts under the main account with the consent of PointPay.

3.2 By registering to use a PointPay Account, you represent and warrant that (i) as an individual, you are at least 18 or are of legal age to form a binding contract under applicable laws; (ii) as an individual, legal person, or other organization, you have full legal capacity and sufficient authorizations to enter into these Terms; (iii) you have not been previously suspended or removed from using PointPay Services; (iv) you do not currently have a PointPay Account; (v) you are neither domiciled in Iran, Syria, North Korea, Iraq, Sudan, Afghanistan, Libya, Cuba, Somalia, Myanmar, Yemen, Lebanon, Venezuela, South Sudan, Central African Republic, Cote d'Ivoire, Eritrea, Liberia, Russia, Belarus, Crimea, and/or the Luhansk and Donetsk regions of Ukraine, PRC user, nor are you acting on behalf of a person registered in such countries. If you act as an employee or agent of a legal entity, and enter into these Terms on their behalf, you represent and warrant that you have all the necessary rights and authorizations to bind such legal entity; (vi) your use of PointPay Services will not violate any and all laws and regulations applicable to you, including but not limited to regulations on anti-money laundering, anti-corruption, and counterterrorist financing. Please note that some products and services may not be available in certain jurisdictions or regions or to certain users. PointPay reserves the right to change, modify or impose additional restrictions at its discretion at any time. Where possible, we will give you notice in advance of the change. However, we may occasionally need to make changes without telling you in advance. This may include where:

(a) we are making the change as a result of legal and/or regulatory changes;

(b) the changes being made are in your interest; and/or

(c) there is any other valid reason which generally means there is no time to send notice to you.

Where we are unable to give you advance notice, we will let you know of the change as soon as possible after it is made.

Your registration of an account with PointPay will be deemed your agreement to provide required personal information for identity verification. Such information will be used to verify Users’ identity, identify traces of money laundering, terrorist financing, fraud and other financial crimes through PointPay, or for other lawful purposes stated by PointPay. We will collect, use and share such information in accordance with our Privacy Policy. In addition to providing such information, you agree to allow us to keep a record of that information during the period for which your account is active and within five (5) years after your account is closed, in compliance with global industry standards on data storage. You also authorize us to conduct necessary investigations directly or through a third party to verify your identity or protect you and/or us from financial crimes, such as fraud. The information we require to verify your identity may include, but is not limited to, your name, email address, contact information, phone number, username, government-issued ID, date of birth, and other information collected during account registration. When providing the required information, you confirm it is true and accurate. AFTER REGISTRATION, YOU MUST ENSURE THAT THE INFORMATION IS TRUE, COMPLETE, AND TIMELY UPDATED WHEN CHANGED. IF THERE ARE ANY GROUNDS FOR BELIEVING THAT ANY OF THE INFORMATION YOU PROVIDED IS INCORRECT, FALSE, OUTDATED OR INCOMPLETE, POINTPAY RESERVES THE RIGHT TO SEND YOU A NOTICE TO DEMAND CORRECTION, DIRECTLY DELETE THE RELEVANT INFORMATION, AND, AS THE CASE MAY BE, TERMINATE ALL OR PART OF POINTPAY SERVICES WE PROVIDE FOR YOU. IF WE ARE UNABLE TO REACH YOU WITH THE CONTACT INFORMATION YOU PROVIDED, YOU SHALL BE FULLY LIABLE FOR ANY LOSS OR EXPENSE CAUSED TO POINTPAY DURING YOUR USE OF POINTPAY SERVICES. YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE THE OBLIGATION TO UPDATE ALL THE INFORMATION IF THERE IS ANY CHANGE. BY REGISTERING AN ACCOUNT, YOU HEREBY AUTHORIZE POINTPAY TO CONDUCT INVESTIGATIONS THAT POINTPAY CONSIDERS NECESSARY, EITHER DIRECTLY OR THROUGH A THIRD PARTY, TO VERIFY YOUR IDENTITY OR PROTECT YOU, OTHER USERS AND/OR POINTPAY FROM FRAUD OR OTHER FINANCIAL CRIMES, AND TO TAKE NECESSARY ACTIONS BASED ON THE RESULTS OF SUCH INVESTIGATIONS. YOU ALSO ACKNOWLEDGE AND AGREE THAT YOUR PERSONAL INFORMATION MAY BE DISCLOSED TO CREDIT BUREAUS AND AGENCIES FOR FRAUD PREVENTION OR FINANCIAL CRIME PREVENTION, WHICH MAY RESPOND TO OUR INVESTIGATIONS IN FULL.

Without prejudice to any other rights or remedies available to PointPay under these Terms, at law or in equity:

(a) Each User shall be strictly liable, without the requirement of proof of intent, negligence, or fault, for any and all damages, losses, liabilities, penalties, claims, costs, and expenses (including reasonable attorneys’ fees and costs of investigation) arising out of or relating to the submission of any false, inaccurate, incomplete, outdated, or misleading information in connection with the registration, use, or maintenance of a PointPay Account.
(b) Each User hereby agrees to indemnify, defend, and hold harmless PointPay, its affiliates, officers, directors, employees, and agents from and against any third-party claim or regulatory inquiry, and any associated damages, losses, or expenses, that arise directly or indirectly from the User’s breach of its information obligations under Section 3.1 or 3.2, regardless of whether such breach was intentional or inadvertent.
(c) The User expressly waives any defense based on PointPay’s actual or constructive knowledge of the inaccuracy of any submitted information, or on any failure by PointPay to verify or confirm the information provided.
(d) The User acknowledges that the provision of false or inaccurate information may cause irreparable harm to PointPay, for which monetary damages may be insufficient. Accordingly, PointPay shall be entitled to seek injunctive or other equitable relief without the need to post bond or prove actual damages, in addition to any other remedy available under applicable law.

3.3 The PointPay Account can only be used by the account registrant. PointPay reserves the right to suspend, freeze or cancel the use of PointPay Accounts by persons other than account registrant. If you suspect or become aware of any unauthorized use of your username and password, you should notify PointPay immediately. PointPay assumes no liability for any loss or damage arising from the use of PointPay Account by you or any third party with or without your authorization.

3.4 PointPay has been committed to maintaining the security of User entrusted funds, and has implemented industry standard protection for PointPay Services. However, the actions of individual Users may pose risks. You shall agree to treat your access credentials (such as username and password) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking the necessary security measures to protect your PointPay Account and personal information. You should be solely responsible for keeping safe of your PointPay Account and password, and be responsible for all the transactions under your PointPay Account. PointPay assumes no liability for any loss or consequences caused by authorized or unauthorized use of your account credentials, including but not limited to information disclosure, information release, consent or submission of various rules and agreements by clicking on the website, online agreement renewal, etc. PointPay shall not be liable for any unauthorized access or transactions resulting from the user’s failure to safeguard their account. Users must immediately report any suspected security breaches. Failure to do so may result in the suspension or termination of the account and forfeiture of any claims for resulting Losses, as defined herein. PointPay reserves the right to freeze or confiscate funds in accounts suspected of being involved in unauthorized activities.

By creating a PointPay Account, you hereby agree that:

you will notify PointPay immediately if you are aware of any unauthorized use of your PointPay Account and password or any other violation of security rules;
you will strictly abide by all mechanisms or procedures of PointPay regarding security, authentication, trading, charging, and withdrawal;
where you are an individual user, you will use your PointPay Account only for yourself, and not on behalf of any third party, unless you have obtained our prior written consent to do so; and
where you are a corporate user, your Permitted Users will use the PointPay Account only for your benefit, and not on behalf of any third party, unless our prior written consent has been obtained. Additionally, you will not offer direct market access to the PointPay Exchange and/or other PointPay services to any other party, including through the use of a sub-account, unless and until such other party has completed identity verification deemed appropriate by the Company and has separately onboarded onto the PointPay Exchange. For avoidance of doubt, any entity or individual using a PointPay Account must be separately verified to be permitted to use the PointPay Services; and
you will take appropriate steps to logout from PointPay at the end of each visit.

3.5 Your personal data will be properly protected and kept confidential, but PointPay has the right to collect, process, use or disclose your personal data in accordance with the Terms (including the Privacy Policy) or applicable laws. Depending on the products or services concerned, your personal data may be disclosed to the following third parties:

your transaction counterparty;
PointPay Operators, and the shareholders, partners, investors, directors, supervisors, senior managers and employees of such entities;
our joint ventures, alliance partners and business partners;
our agents, contractors, suppliers, third-party service providers and professional advisers, including the parties who have been contracted to provide us with administrative, financial, research, operations, IT and other services, in such areas as telecommunications, information technology, payroll, information processing, training, market research, storage and archival;
third-party business partners who provide goods and services or sponsor contests or other promotional activities, whether or not in cooperation with us;
insurance companies or insurance investigators and credit providers;
credit bureaus, or any debt collection agencies or dispute resolution centers in the event of violation or dispute;
business partners, investors, trustees or assignees (actual or expected) that promote business asset transactions (which can be broadened to include any merger, acquisition or asset sale) of PointPay Operators;
professional consultants such as auditors and lawyers;
relevant government regulatory agencies or law enforcement agencies to comply with laws or regulations formulated by government authorities;
assignees of our rights and obligations;
banks, credit card companies and their respective service providers;
persons with your consent as determined by you or the applicable contract

3.6 When you use PointPay Services, you agree and undertake to comply with the following provisions:

During the use of PointPay Services, all activities you carry out should comply with the requirements of applicable laws and regulations, these Terms, and various guidelines of PointPay;
Your use of PointPay Services should not violate public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prohibit other Users from using PointPay Services;
You agree not to use the services for market manipulation (such as pump and dump schemes, wash trading, self-trading, front running, quote stuffing, and spoofing or layering, regardless of whether prohibited by law);
Without written consent from PointPay, the following commercial uses of PointPay data are prohibited:
Trading services that make use of PointPay quotes or market bulletin board information. Data feeding or streaming services that make use of any market data of PointPay;
Any other websites/apps/services that charge for or otherwise profit from (including through advertising or referral fees) market data obtained from PointPay;
Without prior written consent from PointPay, you may not modify, replicate, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any copyright statement or label, or license, sub-license, sell, mirror, design, rent, lease, private label, grant security interests in the properties or any part of the properties, or create their derivative works or otherwise take advantage of any part of the properties.

You may not (i) use any deep linking, web crawlers, bots, spiders or other automatic devices, programs, scripts, algorithms or methods, or any similar or equivalent manual processes to access, obtain, copy or monitor any part of the properties, or replicate or bypass the navigational structure or presentation of PointPay Services in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided through PointPay Services; (ii) attempt to access any part or function of the properties without authorization, or connect to PointPay Services or any PointPay servers or any other systems or networks of any PointPay Services provided through the services by hacking, password mining or any other unlawful or prohibited means; (iii) probe, scan or test the vulnerabilities of PointPay Services or any network connected to the properties, or violate any security or authentication measures on PointPay Services or any network connected to PointPay Services; (iv) reverse look-up, track or seek to track any information of any other Users or visitors of PointPay Services; (v) take any actions that imposes an unreasonable or disproportionately large load on the infrastructure of systems or networks of PointPay Services or PointPay, or the infrastructure of any systems or networks connected to PointPay services; (vi) use any devices, software or routine programs to interfere with the normal operation of PointPay Services or any transactions on PointPay Services, or any other person’s use of PointPay Services; (vii) forge headers, impersonate, or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you send to PointPay, or (viii) use PointPay Services in an illegal way.

By accessing PointPay Services, you agree that PointPay has the right to investigate any violation or breach of these Terms, unilaterally determine whether you have violated these Terms, and/or whether the violation constitutes a material breach of these Terms, and take actions under relevant regulations without your consent or prior notice. In addition to other similar provisions contained under this Agreement and/or other PointPay policies and legal documents, you agree and acknowledge that we have the right, at any time and in our absolute sole discretion, to implement the following measures on your PointPay Account:

Blocking and closing order requests;
Freezing your account and any virtual assets, specifically including, without limitation, Virtual Assets, contained therein;
Clawback and/or retrieve any profits obtained in violation of this Agreement or other legal documents to compensate for any losses suffered as a consequence thereto;
Reporting the incident to the authorities;
Publishing the alleged violations and actions that have been taken;
Deleting any information you published that are found to be in violation in the Company's absolute discretion, unless stated otherwise herein.

If we suspect, in our absolute sole discretion, inter alia, any of the following:

The PointPay Account is in violation of any of this Agreement or the legal documents, including, without limitation, via conduct of illegal transactions;
The PointPay Account is in violation of any applicable laws or regulations;
The PointPay Account is in violation of Anti-Money-Laundering/Counter-Terrorism Financing laws;
The PointPay Account is in violation of a regulatory authority requirement, court order, or valid subpoena;
The PointPay Account is, or is related to any account that is, subject to any pending litigation, investigation, or governmental proceeding;
The PointPay Account has a balance that needs to be reconciled for any reason;
If the Company believes that an unauthorized person is attempting to gain access to your account;
If the Company believes that you are using your credentials or other account information in an unauthorized or inappropriate manner;
If the Company suspects the PointPay Account to receive any proceeds, including, without limitation, in form of any referral fees, caused by or resulting from illegal transactions;

If the Company believes that your account is related, directly or indirectly, to any Prohibited Activities as set forth in Sections 3.22 and 3.24 herein;
If the Company believes that there are suspicious and/or fraudulent activities on your account; or
The Account has not been accessed in over one year.

3.7 By registering corporate account to use an Account and Services, you represent and warrant that:

you have read and commit to be bound by these Terms;
as a legal person, or other organization, you have full legal capacity and sufficient authorizations to enter into these Terms. If you act as an employee or agent of a legal entity, and enter into these Terms on a legal entity’s behalf, you represent and warrant that you have all the necessary rights and authorizations to bind such legal entity;
as a legal person or other organization, you are duly established and operate in a country in which our Services are legally accessible;
you have not been previously suspended or removed from using Services;
you have no tax reporting requirements deriving from the laws of the U.S. as well as you are not an Ontario (Canada)-based person; nor are you acting on behalf of such persons; nor you or a person you represent reside/is incorporated in a country in which our Services are not legally accessible;
your financial status allows you to accept the risks relating to Virtual assets;
you have provided accurate and complete information and documents requested by us;
your use of Services will not violate any and all laws and regulations applicable to you, including but not limited to regulations on anti-money laundering, anti-corruption, and counterterrorist financing;
you will not use / intend to use the Services for anything that is unlawful, abusive, malicious or that could disable, overburden, or impair the proper working of the Services or may hurt our reputation or otherwise pose any threat to us;
at all times you comply with these Terms, any Additional Regulations as well as all applicable laws and regulations;
any and all actions (transactions) performed by you using your Account or our Services, the use of our other services and/or discharge of other provisions of these Terms shall be valid and shall have the same legal effect as the actions (transactions) formalized by a paper document signed by you, and if you are acting on behalf of a legal entity, then also by a paper document signed by you and endorsed with the stamp or seal of such entity, if any;
you have enough knowledge relating to Virtual assets to use our Services, and understand that you are solely responsible for determining the nature, potential value, suitability, risks and appropriateness of our Services;
any Virtual assets held by you as a result of the provision of our Services to you are owned by you and are derived from legitimate sources.

3.8. By registering to use an Account and Services, you represent and warrant that all of the following is true and accurate on the day of registering to use an Account and Services and shall remain true and accurate until you cease to use our Services:

To the extent permitted by law we do not warrant the reliability, availability, accuracy or completeness of information on the Website, our mobile application and your Account. All information is provided “AS IS” without warranty of any kind, express or implied.
We do not warrant that the functions contained in the Account and Services will meet your requirements or that the operation of Account and Services will be uninterrupted or error free.

3.9 Your registration of an account with PointPay will be deemed your agreement to provide required personal information for identity verification. Such information will be used to verify Users’ identity, identify traces of money laundering, terrorist financing, fraud and other financial crimes through PointPay, or for other lawful purposes stated by PointPay. We will collect, use, disclose, process and share such information in accordance with our Privacy Policy.

3.10 In addition to providing such information, you agree to allow us to keep a record of that information during the period for which your account is active and for eight (8) years after your account is closed, in compliance with global industry standards on data storage. You also authorize us to conduct necessary investigations directly or through a third party to verify your identity or protect you and/or us from financial crimes, such as fraud. The information we require to verify your identity may include, but is not limited to, your name/title, email address, contact information, phone number, username, and other information and documents collected during Account registration. When providing the required information and documents, you confirm they are true and accurate.

3.11 In order for you to get access to our Services, we have to be satisfied with the outcome of any identity, fraud and background checks including all other AML/CTF checks which we will conduct in relation to you at any time during the term of your relationship with us. Please note that there are legal requirements in various countries which may restrict the products and services that the Company can lawfully provide. Accordingly, some products and services and certain functionality within PointPay Exchange may not be available or may be restricted in certain jurisdictions or regions or to certain Users at any time. You shall be responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of PointPay ecosystem and/or otherwise PointPay Services in each country from which PointPay ecosystem and/or otherwise PointPay Services are accessed by you or on your behalf. The Company reserves the right to change, modify or impose additional restrictions with respect to the access to and use of PointPay ecosystem and/or otherwise PointPay Services from time to time at our discretion at any time without prior notification.

3.12 AFTER REGISTRATION, YOU MUST ENSURE THAT THE INFORMATION IS TRUE, COMPLETE, AND TIMELY UPDATED WHEN CHANGED.

3.13 IF THERE ARE ANY GROUNDS FOR BELIEVING THAT ANY OF THE INFORMATION OR DOCUMENTS YOU PROVIDED ARE INCORRECT, FALSE, OUTDATED OR INCOMPLETE, POINTPAY RESERVES THE RIGHT TO SEND YOU A NOTICE TO DEMAND CORRECTION, DIRECTLY DELETE THE RELEVANT INFORMATION, AND, AS THE CASE MAY BE, TERMINATE ALL OR PART OF SERVICES WE PROVIDE TO YOU.

3.14 IF WE ARE UNABLE TO REACH YOU WITH THE CONTACT INFORMATION YOU PROVIDED, YOU SHALL BE FULLY LIABLE FOR ANY LOSS OR EXPENSE CAUSED TO POINTPAY AS A DIRECT OR INDIRECT RESULT OF THAT INABILITY.

3.15 YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE THE OBLIGATION TO UPDATE ALL THE INFORMATION, IF THERE IS ANY CHANGE, IN A TIMELY MANNER.

3.16 BY REGISTERING FOR ACCOUNT, YOU HEREBY AUTHORIZE POINTPAY TO CONDUCT INVESTIGATIONS AT ANY TIME DURING THE EXECUTION OF THESE TERMS THAT POINTPAY CONSIDERS NECESSARY, EITHER DIRECTLY OR THROUGH A THIRD PARTY, TO VERIFY YOUR IDENTITY OR PROTECT YOU, OTHER USERS AND/OR POINTPAY FROM FRAUD OR OTHER FINANCIAL CRIMES, AND TO TAKE NECESSARY ACTIONS BASED ON THE RESULTS OF SUCH INVESTIGATIONS. YOU ALSO ACKNOWLEDGE AND AGREE THAT YOUR PERSONAL INFORMATION MAY BE DISCLOSED TO CREDIT BUREAUS AND AGENCIES FOR FRAUD PREVENTION OR FINANCIAL CRIME PREVENTION, WHICH WE MAY RETAIN TO ASSIST WITH THE INVESTIGATIONS.

3.17 We shall be entitled to terminate a business relationship with you and/or a legal entity you represent at any time if we determine that we are not satisfied with the outcome of any identity, fraud and background checks including all other AML/CTF checks.

3.18 The User account allows the User to harness the in-built cryptocurrency wallet to access PointPay Services and transact ("Wallet"). Due to security reasons the User must store outside Wallet a backup of all wallet credentials, including password, passphrases, identifiers, backup phrases, etc. The Company is not responsible for maintaining this data on your behalf. The Company determines list of cryptocurrencies integrated in Wallet. The Company may delete some cryptocurrencies from Wallet and add new cryptocurrencies to Wallet by the Company’s sole discretion.

The Company does not charge any fees for the cryptocurrency wallet receiving and/or controlling cryptocurrencies. However, the Company charges fees for sending cryptocurrencies outside the Wallet. Such fees differ depending on the cryptocurrency and are always displayed to you before you confirm your transaction. Besides, you also should pay the network fees set by the relevant blockchain network pursuant to each transaction to be sent by the User.

3.19 Notwithstanding any provision of this Agreement, the Company may, in its absolute discretion:

(a) deem your User Account as a Dormant account. The criteria for determining account dormancy are solely determined by the Company. The Company reserves the right to take any actions it deems necessary with respect to dormant accounts, including, but not limited to, those outlined in subsections (b) through (e) of this Section 3.19. The Company will notify the User of the Company's intent via email to the address provided during registration of PointPay Account by such User or via push notifications through the application or web interface (including but not limited to User Account notifications) at least 30 days in advance, unless otherwise required by applicable law or regulations, always provided the choice of the notification method remains at the absolute discretion of the Company;

(b) close any open positions or orders in any products of PointPay ecosystem;

(c) exchange and convert certain virtual assets, including, without limitation, Virtual Assets and PXP Tokens;

(d) temporarily reset the balance of virtual assets, including, without limitation, Virtual Assets and PXP Tokens linked to an inactive account to zero, indicating that the account is dormant. Users retain the ability to reactivate their accounts at any time, with the correct balance being restored upon reactivation.

(e) close or temporarily suspend a dormant account at its discretion. The user will receive notification of such action 24 hours in advance, where possible, in accordance with these Terms. Upon request, the company will return the virtual assets held on the platform to the user. However, the company will not be held liable for any loss, damage, or expenses resulting from the closure of a dormant account, except in cases of proven fraud or willful default by the Company.

Upon designation of a PointPay Account as dormant, the user can initiate the recovery process by reaching out to the Company's customer support at: support@pointpay.io. The Company endeavours to promptly recover balances from dormant accounts. Upon successful verification of the User's identity and any other necessary account-related information such as deposits, withdrawals, hash keys, etc., the Company will restore the balance of virtual assets linked to the dormant account.

After recovering the dormant User Account balance according to the terms outlined in the preceding section, the Company retains the right to conduct an audit of said Account to ensure compliance with these Terms and Conditions, as well as relevant laws, regulations, and AML policies. The User commits to fully cooperate with the audit process, including promptly providing all necessary information regarding transactions and movement of funds or virtual assets upon request by the Company. During this audit, the Company will temporary suspend processing any funds or virtual asset withdrawals from the platform, associated with the User's account. The Company shall not be held liable for any loss, damage, or expenses incurred by the User due to such audit or temporary suspension of withdrawal capabilities.

3.20 As an individual residing or in possession of citizenship of Canada, for the interest of mere convenience of such Crypto asset(s) disposal, you hereby acknowledge you have read, understood and agreed to the Risk Notice provided herein and explicitly give up your right to the Immediate Delivery, within the meaning provided in CSA Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Asset, to your Crypto asset wallet address (not associated with PointPay Exchange or us) of any and all Crypto assets purchased, acquired or otherwise obtained via PointPay Exchange and hereby agree to delivery of such Crypto asset(s) always subject to use of on-demand withdrawal functionality provided to you on PointPay Exchange subject to these Terms. Further, you represent and warrant that delivery of such Crypto asset(s) via withdrawal, always subject to the terms set out herein, does not raise any concerns with regard to such delivery and the safety of your funds and is deemed by you the only convenient method of delivery for said Crypto assets acquired through any operations or transactions carried out on PointPay Exchange.

3.21 You agree to the terms of the following anti-money laundering and counter-terrorist protection ("AML/CFT") policy, incorporated herein by reference, and agree to be legally bound by, and comply in full with the following AML/CTF requirements:

You will need to complete certain AML/CTF verification procedures before you are permitted to start using our Services.
We seek to comply with all relevant legal requirements in the field of AML/CTF. For the purposes of know-your-customer, it is necessary for us to obtain from you and retain the required documents, information and data confirming your identity and/or the identity of a legal entity you represent and any other relevant documents and/or information.
We shall perform an identification and a risk assessment procedure of/on you and/or a legal entity you represent.
For the purpose of identification and risk assessment, you must submit to us the required information and documents. We shall have the right to take other legitimate measures for the purpose of identification and risk assessment of you and/or a legal entity you represent. Failure to submit required information and/or documents or provision of incorrect or incomplete information and documents, or failure to comply with our other instructions will result in our Services being unavailable to you.
At the moment of establishing a business relationship with us and/or before and/or after the execution of any particular transaction in virtual assets, including, without limitation, Virtual Assets and PXP Tokens, we shall have the right to demand from you any documents and/or information, including, but not limited to those confirming the legal grounds as well as sources (origin) of your virtual assets and other assets and the purpose and planned nature of your business relationships with us, the nature of business and management (shareholding) structure of a legal entity you represent, beneficial owners and/or other documents and information to the extent necessary for us to adequately fulfil the requirements of relevant legal acts in the field of AML/CTF.
You may also be required to undergo additional (enhanced) due diligence, where we may request that you submit additional information about yourself or your business, provide relevant records, and arrange for meetings with our staff so that we may, among other things, establish the source of your wealth and source of virtual assets for any transactions carried out in the course of your use of our Services. We reserve the right to charge you costs and fees associated with such additional due diligence.
We shall have the right to restrict or terminate the provision of our Services if, before and/or after the execution of any particular transaction in virtual assets, including, without limitation, Virtual Assets and PXP Tokens, you do not submit to us or avoid, or refuse to submit to us the requested documents and/or information, or conceal the requested documents and/or information, or provide incorrect or incomplete requested information, or otherwise fail to comply with any other instructions we give.
We shall have the right to verify the information provided by you using reliable and independent sources of information and other lawful methods. You authorize us to make enquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such enquiries. You acknowledge and agree that we may disclose your personal information to credit reference, fraud prevention or financial crime agencies which we use to assist with the enquiries. This is an identity check only and should have no adverse effect on your credit rating. Additionally, we may require you to wait for some amount of time after the completion of a transaction before permitting you to use further Services and/or before permitting you to engage in transactions beyond certain volume limits.
We shall perform monitoring of your transactions and in the case of a suspicious and/or unusual operation or transaction, we shall have the right to suspend it, including, but not limited to, the suspension or withdrawal of your Virtual Assets, for a certain period of time, including as set out in Section 3.25 herein below. In that case, we shall not be liable to you for any default on any contractual obligations and/or for any damages or otherwise any Losses sustained by you.
We shall have a general duty to report any suspicious activity identified during the business relationship with you to the relevant authorities as well as other reporting duties deriving from relevant legal acts. We shall not be liable to you for the execution of such duties.
We shall be entitled to terminate a business relationship with you and/or a legal entity you represent at any time if we determine that continuing such a business relationship with you and/or a legal entity you represent exposes us to a money laundering and/or terrorist financing risk that we no longer deem acceptable.

3.22 The Company reserves the right, in its sole discretion, to suspend or terminate your PointPay account at any time if we believe the use of arbitrage bots or other automated/manual tools that have not been provided by the Company to access the services or to extract data and in cases if required by law or to comply with recommendations issued by the appropriate government or financial crime prevention authority and in any other cases stipulated in these Terms of Use. Any transaction using arbitrage bots or other automated/manual tools is an illegal transaction (and a Prohibited Activity, as defined in Section 3.24 below herein).

3.23 It is strictly forbidden to use the Account for any illegal purposes, including, without limitation, as stated herein. PointPay will report any suspicious activity to the relevant law enforcement.

3.24 The User shall ensure that they do not use the PointPay Services and/or PointPay ecosystem services for the transactions relating to:

use of unauthorized automated and manual tools, including, without limitation arbitrage bots, manual arbitrage tools or any other trading tools not explicitly provided or approved by the Company;
money laundering, terrorist financing, financing or otherwise proliferation of weapons of mass destruction;
human trafficking;
any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organizations glorifying war or violating human dignity;
any goods or services, promotion, offer or marketing of which would violate copyrights, industrial property rights or other rights of any person;
market manipulation, including pump and dump schemes, wash trading, front running, or other illegal trading behavior;
archeological findings;
drugs, narcotics or hallucinogens; weapons of any kind;
illegal gambling services;
Ponzi, pyramid or any other “get rich quick” schemes;
goods that are subject to any Trade embargo;
media that is harmful to minors and violates laws and, in particular, the provision in respect of the protection of minors;
body parts or human remains;
protected animals or protected plants;
weapons or explosive materials;
or any other illegal goods, services or transactions as may be determined as such by the Company from time to time in its sole and absolute discretion (collectively, "Prohibited Activities").

3.25 Subject to these Terms and any applicable other terms and conditions, including, without limitation, any polices and notices as presented to you by the Company and/or relevant PointPay Operators, and provided that you have sufficient balance on your PointPay Account and the relevant Virtual Assets are not frozen or anyhow remain on hold for any reason as may be given by the Company from time to time in your PointPay Account in connection with any PointPay service, you may give instructions to PointPay to transfer Virtual Assets to an external wallet address by submitting a withdrawal request on the Platform. Upon receipt of the withdrawal request, the Company will: (i) deduct your PointPay Account balance; and (ii) initiate an on-chain transfer to an external wallet designated by you. The Company may not process a withdrawal request if, in our reasonable opinion, we consider that Applicable Law prevents the execution of the relevant withdrawal or you or you have not agreed to and/or acknowledged and understood the terms, notices and/or additional documents. The Company may also suspend withdrawals at such time deemed appropriate by the Company to resolve any incidents on, related to arising out of or in connection with the PointPay Exchange, PointPay ecosystem, PointPay Services and/or otherwise any service provided to Users by the Company or PointPay Operators. Once such incidents have been resolved, the Company or the relevant PointPay Operator may resume certain withdrawals.

Legal Disclaimer