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Terms of Use

Updated 07 June 2023

1. Introduction

A. General Terms

The Finblox Services (as defined below) are provided by UAB FBS Technologies LT (together as: “we”, “us”, “our” or “Finblox”). The following Terms of Use (“Terms”) apply to our Users (“you” or “your” or “User(s)” ) and define the terms and conditions of your access to, and the use of, FINBLOX.COM (the “Website”) and all other Finblox Products and Services, as well as our online and mobile application or any other online services we provide (“Platform”). These Terms constitute a legally binding agreement between you and Finblox.

By applying for a Finblox Account, and accessing and using our Services, you acknowledge and declare that you have read, fully understood, and agree to be bound by and comply with these Terms. If you do not agree to any of these terms' provisions, you should not submit any information to or access information from Finblox or otherwise use the Services. By accepting these Terms, you hereby agree and acknowledge that the Services described herein are being provided by Finblox based on the scope and nature of the Services as described herein. In addition, you expressly acknowledge that you have read and agreed to be bound by the Privacy Policy set forth here: Privacy Policy, which is a part of these Terms, as well as the Risk Disclosure below.

Products, Services, content, information, and/or other features of the Platform may not be legally available for residents of certain jurisdictions under applicable local laws, countries under embargoes or sanctions and/or other blacklisted countries. Finblox is not available to residents of Afghanistan, Burma (Myanmar), Burundi, Central African Republic, Cote d’Ivoire, Cuba, Eritrea, Ethiopia, Democratic Republic of Congo, Hong Kong, Iran, Iraq, Lebanon, Libya, North Korea, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Venezuela, Yemen, Zimbabwe, and other jurisdictions as may be designated as restricted by Finblox (“Restricted Territories”). By accessing or using Finblox, you expressly declare that you are not a resident of one of these Restricted Territories, and that legal and/or regulatory restrictions do not apply to you and you agree that you are solely and entirely responsible for compliance with all laws and regulations that may apply to you. If any restrictions from using Finblox do apply to you, you are prohibited from accessing or using the Website and/or any Services provided on this Platform. If you are uncertain, please seek independent legal advice. Finblox is not responsible for determining your legal standing in connection with you accessing the Services in your jurisdiction. Finblox may add other jurisdictions to the list of Restricted Territories with immediate effect and without notice to you.

AS PART OF ANY SERVICES OFFERED BY FINBLOX, WE DO NOT UNDER ANY CIRCUMSTANCES HOLD DIGITAL ASSETS ON YOUR BEHALF AS A CUSTODIAN, A TRUST OR ANY OTHER TYPE OF FIDUCIARY ARRANGEMENT. FINBLOX IS NOT AN INVESTMENT FUND. THE MAJORITY OF ALL DIGITAL ASSETS DEPOSITED BY YOU THROUGH YOUR FINBLOX ACCOUNT ARE HELD BY THIRD-PARTY ENTITIES, PLATFORMS, PROTOCOLS OR OTHER SIMILAR UNDERTAKINGS (VALUE-GENERATING PLATFORMS), AND SHALL NOT SUGGEST OR ESTABLISH ANY FORM OF CUSTODY RELATION BETWEEN YOU AND FINBLOX. ALL USE OF LANGUAGE SUCH AS “ACCOUNT,” “ACCOUNT BALANCE”, “DEPOSIT”, “‘WITHDRAW,” AND SIMILAR WILL BE USED AS TERMS REFERRING TO THE RELATIONSHIP BETWEEN FINBLOX AND YOU IN TRANSFERRING DIGITAL ASSETS, THAT ARE OWNED AT ALL TIMES BY YOU, TO AND FROM YOUR PRIVATE VIRTUAL WALLET ADDRESS AS INDICATED BY YOU AS PART OF OUR INTERMEDIARY SERVICES TO YOU, THE USER.

B. Risk Disclosure

BEFORE USING FINBLOX AND ITS SERVICES, PLEASE TAKE THE TIME TO FULLY UNDERSTAND AND CONSIDER THE RISKS INVOLVED ON OUR RISK DISCLOSURE PAGE, CONDITIONS OF WHICH CONSTITUTE A PART OF THESE TERMS. BY ACCEPTING THESE TERMS YOU ALSO ACCEPT THE TERMS OF THE RISK DISCLOSURE.

2. Modifications to the Terms of Use

Finblox reserves the right to make amendments to the Terms at any time, including, but not limited to, the scope of Services provided, conditions for the provision of Services, rules and requirements, etc. You are responsible for reviewing the current Terms and the date of the last update of the Terms on the Website, as your continued use of the Services after any modification of the Terms will conclusively indicate that you have acknowledged and fully accepted those changes.

3. Definitions and Interpretation

“Account” means an individual or corporate Finblox account that a User has registered through our mobile application or Website to access and use the Services. User's Accounts are not bank accounts, savings accounts, deposit accounts, checking accounts or any other type of asset account characterized as a banking product or service.

“AML” means Anti-Money Laundering and refers to laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.

Balance” (also “Account Balance”) means the total amount of (a) Eligible Digital Assets associated with a User’s Account that they have deposited through Finblox, and (b) the total amount of rewards, winnings, bonuses, or any other assets added to the principal deposit of Eligible Digital Assets through Finblox based on User engaging in Finblox Services.

Blockchain” means a digital ledger of transactions duplicated and distributed across the entire network of computer systems that is difficult or impossible to change, hack or cheat the system.

“Digital Asset” means a digital representation of value in which encryption techniques are used to regulate the generation of digital units and verify the transfer of assets, operating independently from a central bank (also referred to as a “virtual asset”).

“Eligible Digital Assets” means the Digital Assets chosen for inclusion in one or more of the Services rendered through Finblox.

KYC” means Know Your Customer (or Client), which is the mandatory process of identifying and verifying the client's identity when accessing particular services and periodically assessing potential risks of illegal intentions for the business relationship over time.

Platform” means all Finblox products, including our Website, web app, mobile application or any other means through which Finblox provides the Services.

Service” or “Products” means any Finblox products, services, features, offerings, etc. that are provided conditionally to Users through the Platform and outlined in Section 9 of these Terms, either jointly or separately.

Virtual Wallet” or “Virtual Wallet Address” means an electronic wallet in which Digital Assets can be held and transferred that utilizes an on-Blockchain virtual address.

4. Eligibility and Proof of Identity

A. Eligibility Criteria

You warrant through proper identity and represent that you meet the following cumulative eligibility criteria to access and use the Services:

  1. You are eighteen (18) years of age or older;
  2. You are legally capable of entering into a binding contract with Finblox under these Terms in accordance with the laws and regulations that apply to you, including laws on the capacity to enter into a legal agreement;
  3. Your entry into a binding contract with Finblox under these Terms, and your use of Services, is a lawful arrangement under the laws of your country;
  4. You are not a resident of a Restricted Territory;
  5. You do not, and will not, use VPN software or any other privacy or anonymization tools or techniques to circumvent, or attempt to circumvent, any restrictions that apply to the Services;
  6. You have submitted a true and complete application for your Account, and all documents that you have provided in support of your application and/or any KYC/AML checks are true electronic copies of valid and true documents;
  7. You are aware of the risks involved in dealing with digital assets generally, risks pertaining to your use of Services, including the risk of a total loss of Balance, and other risks as outlined in the Risk Disclosure available on the Finblox Website;
  8. You are the sole authorized User of your Individual Account (or a Corporate Account) and have taken reasonable steps to prevent unauthorized access to your Account;
  9. You have not been previously banned, terminated or otherwise denied access to the Services by Finblox or by any competent authority;
  10. You are not acting out under an alias, concealing your personal identity or representing any other persons besides your own;
  11. You are the beneficial owner of (or if you are acting as a trustee, the legal owner) of any Digital Asset subject to these Terms or you have the full authority to dispose and manage the Digital Assets for a legal entity (where you are in charge of a Corporate Account), and the Digital Assets you use to in connection with your Account are not direct or indirect proceeds of any criminal or fraudulent activity;
  12. You have not been convicted of any financial or financial-related crime by a proper court of law;
  13. You are not a resident or tax resident of such jurisdictions or regimes where the FATF imposes financial sanctions or requires compliance with the United Nations Security Council Resolutions (UNSCRs);
  14. You are not resident or a tax resident of, and do not otherwise have any relevant connection with, any jurisdiction which Finblox identified in any manner as being subject to prohibitions or restrictions on accessing or using the Services;
  15. You are not from and do not have any relevant connection with any jurisdiction in which entry into or performing your obligations under these Terms or the delivery, holding, use or exchange of Digital Assets is unlawful or restricted in any way; or requires licensing and registration or approval of any kind, whether for you as User or Finblox as a provider of intermediary digital asset services to you;
  16. You are not subject to any economic sanctions programs administered or enforced by any relevant country, government or international body, including but not limited to: the US Department of the Treasury's Office of Foreign Assets Control, the US Department of State, the United Nations Security Council, the European Union, or any other sanctions regime deemed applicable by the Finbloxe;
  17. You are not identified by the Office of Foreign Assets Control of the U.S. Department of the Treasury as a "Specially Designated National";
  18. You are not placed on the Denied Person List by the U.S. Department of Commerce, Bureau of Industry;
  19. You are not acting on behalf of or representing any other natural person, legal person or legal entity, and are not acting for any benefit of any third parties unless you have obtained prior written consent to do so from us;
  20. You are compliant with all requirements of law applicable to you, including, without limitation, all tax laws and regulations, exchange control requirements, and registration requirements.

B. AML and KYC Requirements

Finblox is committed to protecting our Users and has established Anti-Money Laundering (“AML”) and Know Your Client (“KYC”) policies and procedures under applicable AML regulations, guidelines, and rules. We are obligated to maintain, for a minimum of five years or more (as may be required under applicable laws), User records and transaction history, and other personal or corporate identification. Suspicious identities and/or unusual transactions and other certain circumstances might require Finblox to report to the competent authorities any User or suspicious activity that might be indicative of any crime or illicit activity.

All Users registering for our Services shall adhere to applicable AML and KYC requirements. For Finblox to remain compliant with the AML requirements that apply to Finblox as a provider of Services, we will ask you to provide relevant information and documentation that we consider necessary to verify and confirm your personal information and take action deemed necessary based on the results of such verification. You also acknowledge that you will not be authorized to access Services or parts of Services until your KYC verification is completed and reaches a necessary verification level. Finblox reserves the right to assign verification levels to Users based on the type of Service provided Balance of their Account, documents provided, and other criteria at our sole and absolute discretion. Based on such verification levels, Users may have different deposit/withdrawal limits and other rights and limitations applicable to their Account. Finblox will determine verification levels and relevant criteria at its sole discretion and will post current information on the Platform. Inactive Users may have their verification levels downgraded by Finblox. We may also gather information from third parties that may aid us in performing our AML/KYC assessments more effectively. After you have completed the requirements successfully, you are required to maintain the information associated with your Account on Finblox, and you agree to update any personal information to reflect any changes that you previously provided and all relevant information by you to us is true, accurate and not misleading in any respect.

Finblox may, at any time in our absolute and sole discretion, with or without cause and without notice to you, introduce additional eligibility criteria, revise the list of prohibited jurisdictions, refuse specific applications to open Accounts or use part or all of the Services, and/or terminate or suspend any Accounts, where Finblox has determined that a potential or real breach may occur or has occurred of any provisions of the Terms, laws, regulations, or for any other reasons in its sole discretion. You agree that we shall not be liable to you due to or by reason of our termination of your right to use the Services.

5. Finblox Accounts

A. General

Any person that meets the eligibility criteria outlined above may register a Finblox Account free of charge through the official Finblox mobile application available on the Google Play and Apple Store or the web application available on the Website. Finblox Accounts are of two types: Individual Accounts and Corporate Accounts. Finblox may impose different conditions for using the Services for different types of Accounts, including withdrawal limits. Except where otherwise stated, the term “Account” used herein refers to Individual and Corporate accounts. Each individual User may register only one Account with Finblox, except where an individual act as an Authorized Representative of an entity and at the same time has a private Individual Account (see Section 5(C) below).

After successfully registering your Account, you will be permitted to use the Services provided to you by Finblox, view your Balance, and use the Services, subject to limitations of certain Services that we may impose at our sole and absolute discretion. All communications between you and Finblox shall take place through your Account or through the email you used when registering for an Account.

You agree and understand that certain Services may not be available if you do not have certain Eligible Digital Assets in your Account or a sufficient Balance. All activities conducted within your Account, as well as the security of your passwords, Safekeeping of Account information or any other codes required to access your Account and the Services, shall be your sole responsibility. Finblox is not liable for any loss or compromise of your Account and personal information or for any loss or damages that may occur due to a compromise of your Account and confidential information. Any instructions we receive through your Account or through the email you used to register for an Account, even if you did not authorize them or if they were entered by mistake or are otherwise inaccurate, shall be treated by us as true and honest instruction and Finblox cannot be held liable for following these instructions.

To verify the authenticity of any instruction we receive through your Account, we may require your signature or identification in any form we deem necessary, at our sole discretion, and we may accept digital images and electronic signatures for documents that need to be signed.

If for any reason, as a result of following your instructions or conducting any actions related to your Account, we incur claims, losses, costs, and damages, including reasonable attorneys’ fees, you agree to reimburse us these costs (and we are allowed to deduct any costs from the Account Balance).

When using your Account, you hereby agree and acknowledge that it is not a bank account, savings account, deposit account, checking account, investment account or any other type of asset account characterized as a banking product or service. We do not under any circumstances hold Digital Assets on your behalf as custody as part of any Services offered. All Digital Assets within your Account shall not suggest or establish any form of custody relation.

Finblox reserves the right to suspend, terminate or limit your right to use your Account at any time at our sole discretion, including in case we have indications of a duplicate account or accounts created by the same User. You agree that Finblox shall not be held liable to you for any loss or damages resulting from such suspension or limitation. Accounts may be deactivated and/or deleted by Finblox with or without prior notice to Users following six months of inactivity (no login by User to his/her Account). See Section 15 for more information.

Finblox reserves the right to seek remedy and take any action that it may be entitled to by law or equity in case of suspicion of any illicit activities involving you and/or your Account; such as the misuse of the Services, misleading information by you, fraudulent activities, money laundering, and/or other criminal activities.

B. Individual Account

Owners of Individual Accounts may also apply for an Accredited Investor Individual Account by contacting Finblox. Accredited Investor Individual Accounts may entitle users to additional conditions of Services, including increased withdrawal limits.

C. Corporate Account

A Corporate Account with Finblox is an Account that is owned by a corporation or any other type of legal entity (interchangeably defined as an “entity”). An entity can apply to open an Account through any natural person(s) who is duly authorized by the entity to do so (an “Authorized Representative”), and who shall manage and administer the Corporate Account.

An Authorized Representative that wishes to open a Corporate Account on behalf of an entity shall submit a list of documents depending on the type of entity, country of incorporation, etc. Upon request, a complete list of documents for opening a Corporate Account, depending on the circumstances and all relevant factors, shall be provided to the Authorized Representative by Finblox.

An Authorized Representative declares that they are fully authorized to execute and provide all documents and complete all requirements stated in their capacity on behalf of the entity and on their own behalf. An Authorized Representative shall at all times be the sole authorized agent of that entity and represents and warrants on behalf of the entity that he or she is the sole user of all Services on behalf of the entity provided under the Corporate Account.

The entity registered as the holder of a Corporate Account, the ultimate beneficial owner(s) of such entity, and any Authorized Representative shall be responsible for updating Finblox immediately of any change in the details of the entity, ultimate beneficial owner(s) and/or Authorized Representative, including any appointment or termination of the same, change of control in the entity or change in the registration details of the entity. Authorized Representative and the entity they represent shall be jointly and severally liable to Finblox for any breach of these Terms in connection with the Corporate Account.

D. Privacy and Disclosure of Finblox Account Information

Our Privacy Policy, available at https://finblox.com/privacy-policy, outlines our practices with respect to collecting, using, and disclosing your information when you use the Services, including your personal data, which includes information that relates to a living individual and can be used to identify that individual. The Privacy Policy constitutes an inseparable part of these Terms and covers all of our Services and all methods by which you may access our Website and/or Services through the Platform.

We may disclose your information to third parties about you and any information and activities under your Account registered with us in accordance with the Privacy Policy, including in order to comply with any request or order by any government agency or competent court, for the purpose of conducting our AML and KYC checks and compliance with applicable laws, and where it is necessary for the provision of any of the Services under these Terms.

6. Account Balance

Your Balance will be displayed in your Account on our Platform. It shall reflect (a) the total amount of Digital Assets associated with the Account that you have deposited through Finblox (principal deposit); and (b) the total amount of rewards, winnings, bonuses or any other Digital Assets added to the principal deposit on the basis of you engaging in Finblox Services.

Additional Digital Assets can be deposited through your Account by transferring Eligible Digital Assets to the provided Virtual Wallet Address within your Account. In transferring Digital Assets to your Account, you assume sole responsibility to ascertain that all Digital Assets are Eligible Digital Assets under these Terms and that all transfers to be made to your Account are addressed to the precise Virtual Wallet Address associated with your Account as issued to you by Finblox within the Platform and the Services. Finblox reserves the right to change the incoming addresses for the Eligible Digital Assets offered on the Platform.

Finblox reserves the right to return any Digital Assets and eligible rewards (if any) and/or reject any transaction at your expense. Finblox shall not be liable to you for any loss incurred when transferring Digital Assets and may not be able to assist you in retrieving them.

7. Eligible Digital Assets

Finblox shall provide a list of Eligible Digital Assets on our Platform. In our sole discretion, we may add/or remove certain Digital Assets from time to time. Any Digital Asset(s) removed shall no longer be available to be used in connection with our Services. Such Digital Assets that have been removed may, under certain circumstances, be removed immediately without prior notice. All Digital Assets that cease to exist in our Services shall no longer generate rewards or be able to be used in conjunction with our Services and no longer qualify as an Eligible Digital Asset for a certain group of Users or all Users at our sole discretion. It is your own responsibility to monitor your Account and the eligibility of the Digital Assets deposited through your Account and to timely withdraw any Digital Assets that were removed from the list of Eligible Digital Assets.

8. Withdrawals

You may request a complete or partial withdrawal of Digital Assets within the Account Balance through your Account at any time. Finblox initiates the withdrawal process following a withdrawal request and will typically require up to forty-eight (48) hours after such withdrawal request to process the withdrawal. However, there may be instances where the withdrawal process can take up to seven (7) days after a withdrawal request, even in times of normal operations.

Users can make withdrawal requests using the Virtual Wallet provided in their Account. Each withdrawal request will require specific details of the wallet to which you wish to transfer your Digital Assets. Limits on withdrawal amounts and/or frequency of withdrawals and withdrawal requests may change from time to time based on legal, regulatory, AML, security, market, liquidity and/or other considerations. Our policies and procedures may require Users to complete additional security and/or compliance checks for the withdrawal request to be approved.

Every withdrawal request shall be deemed pending until accepted by Finblox. Finblox may reject a withdrawal request or delay the processing of an approved request for any reasonable amount of time, including, but not limited to, insufficient Digital Assets in the User’s Account, inaccurate or misleading information provided by the User, any doubt or suspicion of money laundering and/or other financial crime(s) related to the User Account, liquidity concerns, market volatility or any other events or circumstances that in our opinion threaten the integrity and/or liquidity of the Platform. In these circumstances, Finblox may impose a temporary or permanent suspension of all deposits and/or withdrawal requests affecting all or part of User Account Balances. Finblox shall not be held responsible or liable for any loss or damage of any kind incurred by the User as a result of their withdrawal request being suspended or in case of suspension of the withdrawals or withdrawal requests across the Platform applicable to all Users. Withdrawal fees may apply as published on the Platform.

Any information provided by you to Finblox that is inaccurate, misleading or incomplete may result in your Digital Assets becoming permanently lost. Finblox shall not be held liable for any loss resulting from inaccurate, misleading or incomplete information that the User provided for such transfers. Finblox shall not be liable in any instances where the information provided by the User to Finblox resulted in a delay or failure of a requested withdrawal.

For the avoidance of doubt, any withdrawals of Digital Assets shall be in-kind (i.e., in the same type of Eligible Digital Assets deposited by you, but not the actual same Digital Assets originally transferred by you). In case of liquidity concerns or market volatility, your withdrawal request may be settled in an equivalent of another type of Eligible Digital Asset.

9. Finblox Services

A. FinRewards

FinRewards is a Service within the Finblox Platform, whereby Finblox, acting as an intermediary on behalf of the User, places all or portion of the User’s Eligible Digital Assets with third-party entities, platforms, protocols or other similar undertakings (the “Value Generating Platforms” or “VGPs”) for the purposes of creating value and receiving rewards on the User’s Digital Assets at a certain rate, under the conditions and limitations of these Terms and other limitations that may be put forward by Finblox at any time at its sole and absolute discretion. The User may be able to receive rewards that are in the same kind of Digital Assets deposited through the Finblox platform, or in another kind of Digital Asset, as per the terms of FinRewards, available on the Finblox Platform in the User’s Account.

As an intermediary, Finblox administers the User’s Digital Assets on behalf of the User by entering into arrangements with VGPs and transferring the deposited Digital Assets to these VGPs, and/or acting directly on digital platforms and decentralized protocols at Finblox’s sole and absolute discretion, enabling reward generation on the Digital Assets under certain conditions. Finblox generates revenue by retaining a percentage of yield that the particular Digital Assets generates or generated while being held with VGPs.

Any rewards and balance of Digital Assets deposited by you through your Account will be visible to you in your Account. All terms and conditions as to depositing, withdrawing, adding Digital Assets to your Balance, reward generation, APY and other terms of the FinRewards Program are available on the Finblox Platform in the User’s Account and may change with or without prior notice.

Finblox, at its sole discretion, may update reward rates from time to time. The rewards rates are determined based on various considerations, including market conditions, demand and supply of particular Digital Assets. Rewards are not determined based on Finblox income or profit generated. While Finblox strives to maintain stable reward rates over time, any change in market conditions and other circumstances may bring about changes to such rates. Finblox will update Users on any change to reward rates through the Platform. Users may choose to discontinue using the FinRewards service at any time by contacting Finblox. If, at any time, for legal or other reasons an Account is suspended or frozen by Finblox, Digital Assets deposited through such Account shall not be eligible to earn rewards. FinRewards is not an investment program; rather, you are earning rewards, in accordance with the rates published and updated from time to time by us, on the deposit of Digital Assets you have transferred through your Account.

B. FinSwap

FinSwap is a Service within the Finblox Platform that allows Users to swap one kind of Digital Asset held in their Account for another kind of Digital Asset, with Finblox acting as an intermediary in the process.

FinSwap is carried out through a sales transaction of a base asset (the first Digital Asset in the swapping pair, as indicated on the Platform and in the Account, which the User may choose for the purposes of swapping to be swapped for another Digital Asset) in exchange for a counter asset (the second Digital Asset in the swapping Pair, as indicated on the Platform and in the Account, which the User may choose for the purpose of acquiring instead of the base asset) (the “Swap”). The Swap is initiated by the User in their Account, ordering Finblox to place a sale order of a base asset in exchange for a counter asset with a third-party exchange service or platform and execute a sales transaction thereon. Such sale orders may be more than one, as the case may be and to the extent needed and applicable. The counter asset procured by Finblox on behalf of the User as a result of the sale transaction is deposited in the User’s Account.

By offering FinSwap Service, Finblox as an intermediary generates revenue by either withholding an incentive fee as a percentage of the Swap or withholding a fixed fee for every Swap.

You may initiate a Swap relevant to the swapping pairs selected and within limits indicated on the Finblox Platform and in your Account, which are subject to revision from time to time at our sole and absolute discretion. Swap rates and associated fees vary constantly. Approximated Swap rates and fees involved in the Swap shall be displayed to the User in their Account and constitute a final offer to carry out the Swap on the Platform for a limited time period as indicated in the User’s Account. Users confirm the Swap by tapping/clicking “Confirm” or a similar button within the FinSwap section of their Account within the designated period. If the indicated time period elapses and the User has not confirmed the Swap, the previous rates and fees are no longer applicable, and the User may only complete the Swap under new rates and fees. Finblox will send the final Swap rates and fees, if applicable, to the User's email address upon completion of the Swap.

FinSwap is not available for fiat-to-crypto or crypto-to-fiat swaps. Finblox may delay or not be able to carry out the Swap initiated by the User for several reasons, including but not limited to a placed order not being fulfilled by exchange or slippage. In such cases, Finblox shall refund Users their base asset in full, except where the base asset has been lost for reasons beyond the control of Finblox or incurred fees, in full or in part. Finblox is not guaranteeing or taking responsibility for the time needed to complete a Swap, which may vary under different circumstances. Finblox shall not bear any responsibility for the delay of the Swap or loss of a base asset or counter asset in connection with carrying out the Swap. At any time, at our sole and absolute discretion, without liability to you, we may: refuse your request to use FinSwap; change the conditions for entering into the Swap or use of the FinSwap feature; suspend the provision of the FinSwap feature; change, update, remove, cancel, suspend, disable or discontinue any component of the FinSwap feature.

C. Pool Party by Finblox

The Pool Party by Finblox (also “Finpool”, “Weekly Pool”) by Finblox is a weekly prize savings pool Service offered on the Finblox Platform (the “Pool”). Terms for entering and participating in the Pool will be accessible on the Finblox Website once the Service becomes available.

D. FinLaunch

FinLaunch is a launchpad service offered by Finblox to its Users on the following terms and conditions.

FinLaunch and “Launchpad” means the functionality of the Finblox Platform providing users with the possibility to participate in the sale and distribution of Digital Assets - “Tokens” issued by Finblox or by third parties (collectively, “Issuers”, and in case Digital Assets are issued by a third party - “Third-Party Digital Assets”) according to the terms and conditions set out herein and/or specified on the Finblox Platform.

Access and use of FinLaunch and related services, participation in any sale or distribution of Tokens are intended solely for Finblox Users who comply with eligibility criteria set out in Section 4, and who are able to obtain and own digital assets under the laws of their respective jurisdiction. FinLaunch is not available for residents of Restricted Territories, as well as for residents of the United States.

If you are allowed to use FinLaunch Service, you shall transfer the corresponding amount of Digital Assets acceptable as a payment for Tokens to the specified blockchain wallet or smart contract or to interact with a smart contract facilitating your payment for Tokens. Tokens will be transferred to your blockchain wallet by using automated means of distribution, including the use of smart contracts. However, we may decide to manually transfer Tokens to your blockchain wallet without the involvement of smart contracts.

Finblox may set additional rules or requirements for the purchase, release and/or distribution of Tokens purchased via FinLaunch. This may include that Tokens would be transferred to your blockchain wallet in several instalments and/or may be locked up for a specific time. Finblox may divide Users into several groups (tiers), set specific participation criteria for each of such groups (tiers), and set specific allocation of Tokens for each of such groups (tiers). We may set such additional rules in the description of the sale of Tokens.

Finblox does not represent and warrant that you will be able to participate in any distribution of Tokens, even after meeting any participation criteria or receive any amount of Tokens according to available allocation, rather you will be given a chance to participate in the distribution of Tokens and/or to receive Tokens. As part of participation criteria, we may require you to perform certain actions of marketing and/or promotional nature determined by us or the Issuer at our or its sole discretion and we reserve the right to suspend or cease any distribution of Tokens if you have not performed required actions. We may refuse you to participate in the free distribution of Tokens at our sole discretion, without explaining reasons for such refusal, at any stage, even if you passed identity verification and/or meet participation criteria.

You hereby acknowledge and agree that the Issuer may add and/or remove any functionality of Tokens at any time at its sole discretion. Since the addition of functionality of Tokens by the Issuer is not guaranteed, you are aware of the fact that the Token may provide you with no functionality of such Token at all.

You hereby represent and warrant that the funds, including any Digital Assets, virtual currency or cryptocurrency, you use to purchase Tokens, are not derived from or related to any unlawful activities, including but not limited to money laundering or terrorist financing, and you will not use Tokens to finance, engage in, or otherwise support any unlawful activities. You hereby represent and warrant that you acquire Tokens for your own use and utility, to use the Issuer’s services and not for investment or financial purposes. You hereby represent and warrant that you will not use Tokens as speculative investments or for the purpose of speculating on the crypto assets markets. You represent and warrant that you will not manipulate the price of Tokens in any way and will not use Tokens for any other kind of market manipulation.

You hereby acknowledge and agree that all purchases of Tokens are final and that the payments made during the sale of Tokens are non-refundable. Subject to the above, by participating in the sale of Tokens, you acknowledge and agree that you have no right to request a refund from us for any reason.

It is your responsibility to determine whether, and to what extent, any taxes apply to your purchase, acquiring and/or use of Tokens, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. By purchasing, acquiring, holding, owning or using Tokens, and to the extent permitted by law, you agree not to hold Finblox or its affiliates and the respective shareholders, members, directors, officers, employees, agents and representatives liable for any tax liabilities arising from the purchase, acquiring, ownership or use of Tokens.

Finblox shall have the right at any stage of rendering the FinLaunch services to cease any transfer or distribution of Digital Assets to you and terminate your participation in the sale or distribution of Digital Assets without the obligation of any refunds to you. Use of FinLaunch is subject to additional limitation of liability, as outlined in Section 19(B).

10. Ownership of Digital Assets

By depositing Digital Assets through your Account, you hereby represent and warrant to Finblox that such Digital Assets shall at all times be owned by you and/or full permission has been granted to you to execute any transactions using such Digital Assets without restriction or limitation and that all use of Finblox and the Services by you is solely for your own benefit and account, or for the benefit and account of the entity of which you are an Authorized Representative. Furthermore, you represent and warrant that there are no claims, liens, indebtedness or third-party interests on all such Digital Assets deposited through your Account.

By depositing the Digital Assets through their Account, Users grant all rights of possession over such Digital Assets to Finblox in order to enable Finblox to deliver the Services as outlined below.

FINBLOX POSSESSES AND DISPOSES OF DIGITAL ASSETS TRANSFERRED THROUGH OUR PLATFORM AS PART OF THE INTERMEDIARY SERVICES IN ITS OWN ACCORD UNDER THE TERMS HEREIN. FINBLOX DOES NOT KEEP OR RETAIN DIGITAL ASSETS DEPOSITED THROUGH THE PLATFORM IN ITS POSSESSION OR OWNERSHIP, EXCEPT FOR A FRACTION OF DIGITAL ASSETS THAT ARE KEPT IN THE OPERATIONAL VAULTS OF FINBLOX, TO FACILITATE QUICK WITHDRAWALS AND OTHER ASSOCIATED SERVICES, AND TO ENHANCE USER EXPERIENCE WITH THE PLATFORM. FINBLOX DETERMINES THE OPERATIONAL VAULT VOLUME AT ITS SOLE AND ABSOLUTE DISCRETION.

Your Account and your use of any of our Services under these Terms do not imply or create a fiduciary, custody or trust relationship between you and Finblox. Your Account is not a checking, savings, deposit or any other type of asset account characterized as a banking product or service, it is not an investment contract, security or transferable and may not be traded, exchanged, transferred or sold to any third party under any circumstances. The Digital Assets deposited through your Account are not legal tender and are not insured by any governmental insurance plan. Subject to our sole and absolute discretion, your Digital Assets may be commingled and placed with VGPs in our efforts to bring you the Services and generate value. On your behalf and as an intermediary, Finblox may engage in lending, selling, rehypothecating, investing, pledging, exchanging, as well as initiating any other deals and transactions with the Digital Assets deposited through your Account, with our best efforts to create value for Users and impede losses.

11. Consent to Finblox’s Use of Digital Assets

By registering for a Finblox Account, using the Services, and depositing Digital Assets through your Account for the duration of the period of you using the Services, you explicitly grant Finblox as an intermediary, subject to these Terms and applicable laws, all rights of possession over your Digital Assets for the purpose of lending, rehypothecation, pledging, or otherwise transferring any amount of such Digital Assets, separately or together with Digital Assets of other Users, in order for Finblox to render the Services to you. You agree and acknowledge the following with respect to your Digital Assets deposited through your Account:

  1. Finblox may receive compensation in administering your Digital as an intermediary to which you have no claim or entitlement;
  2. Finblox may place Digital Assets deposited through your Account to and/or with such other facilities or third parties as Finblox considers appropriate, separately or together with other property;
  3. You will not be able to exercise certain rights of ownership over the Digital Assets for the period that they are deposited through the Account that you might otherwise have had before;
  4. You may not have any legal remedies or rights in connection with Finblox’s obligations to you as an intermediary and may not regain or recover possession of your Digital Assets deposited through your Account, including in the event that VGPs with which Finblox places your Digital Assets as part of the Services are unable to honor its obligations before Finblox, as well as other events stipulated in these Terms and the Risk Disclosure.

12. Setoff and Security Interest Rights

In all cases where all or part of Digital Assets being deposited by you through Finblox or otherwise deposited to your Account has incurred liabilities, debts or amounts owed by you or any of your Authorized Representatives to us, you shall grant us a security interest to such Digital Asset of your Account (“Obligations”).

Your acceptance of these Terms serves as your consent to Finblox’ asserting its security interest or exercising its right of setoff should any laws governing your Account require your consent. If the law restricts our ability to take, transfer or setoff any obligations to you, or if your Account balance is protected from attachment, levy or legal process under law, you waive those conditions and limits to the fullest extent possible under contract or law and you authorize us, at any time we deem appropriate, to take any actions necessary to offset your Obligations in any or all of your Finblox Accounts without legal recourse.

To the extent permitted by applicable law, in the event that Finblox breaches its obligation under these Terms, you may setoff assets or amounts we owe you with respect to your Account against your Obligations, subject to limitations of liability contained in Section 19 below.

13. Hard Forks

Any blockchain may undergo software updates from time to time, resulting in a permanent divergence in the blockchain (a “Hard Fork”). The result is that such a blockchain will split into two separate and distinct blockchains, and any Digital Asset on that original blockchain may entitle its holders to a new type of Digital Asset (the “New Currency”). The support of any New Currency within the Platform is solely at the discretion of Finblox. Unless otherwise announced in writing by Finblox, Finblox shall not support any New Currencies (“Unsupported Currencies”), whereby all impacted Accounts shall be denominated in the legacy Digital Asset, and rewards, if any, shall accrue in the legacy Digital Asset. The User agrees that Finblox assumes no responsibility whatsoever with respect to those Unsupported Currencies and the User shall not be able to recover the Unsupported Currencies from Finblox.

In the event of a Hard Fork or other network disruption, Finblox may not be able to support activity related to your Digital Asset, and; the transactions may not be completed, completed partially, incorrectly completed or substantially delayed. Finblox is not responsible for any loss incurred by you caused in whole or in part, directly or indirectly, by a Hard Fork or other network disruption. Finblox may, at its sole discretion, support the New Currency and discontinue its support of the legacy Digital Asset. In such an event, Users are advised to withdraw the applicable Digital Assets from their Account prior to the date of the Hard Fork. Finblox is not obligated in any way to monitor or maintain balances of New Currency issued to holders of the applicable Digital Assets upon a Hard Fork, or to credit Users for the value of such New Currency. In the event a User wishes to receive New Currency issued upon a Hard Fork, the User is advised to withdraw the applicable Digital Assets from their Account prior to the date of the Hard Fork. Finblox shall make all determinations regarding Hard Forks in its sole and absolute discretion and in accordance with applicable laws.

14. Service Activity Statements

Finblox and its Services shall endeavor to create and maintain a log of records of your activities related to the use of the Services. However, it is your sole responsibility to immediately review and notify Finblox of any discrepancies, unauthorized logins, irregularities, or errors concerning the log of records of your use of the Services.

15. Deactivate a Finblox Account

A. Finblox’s Right to Finblox Account Deactivation

Finblox reserves the right to deactivate your Account if deemed necessary at any time, with or without cause and with or without any advance notice to you, including blocking your access to the Platform and the Services.

In case of suspension, termination, deactivation, and or/deletion of your Account at our discretion without cause any remaining Balance shall be returned by Finblox to the Virtual Wallet Address from which the User last deposited the particular type of Digital Asset that is due to be returned into their Account, save for any fees arising out of such return.

Finblox may withhold Digital Assets or any other assets in your Account in a holding vault indefinitely in the event of irregular transactions, activities or errors for an unlimited amount of time as required by law, including but not limited to legal action and under a request of any government authorities.

Finblox may be required by law to turn over any Digital Assets in Accounts that have been unclaimed or abandoned to the jurisdiction of the User's last known residence. According to each jurisdiction, escheatment may vary, it is the Users responsibility to determine the applicability of such laws in your place of residence.

Finblox reserves the right on any unclaimed or abandoned Accounts and Digital Assets, including using those abandoned Digital Assets to collect any administrative payments, charges, or fees that Finblox incurred or may incur in connection with that particular account. All Accounts, in whole or in part, are not transferable or assignable.

You agree that we shall not be liable to you due to or by reason of our termination of your right to use the Services or the automatic termination of your right to use your Account in accordance with these Terms.

B. Your Right to Deactivate Your Finblox Account

You may deactivate your Account by using the delete function within the Finblox App. Before deactivating your Account, be sure to withdraw your Digital Assets from your Account. When your Account has been deactivated, you acknowledge and agree that we reserve the right to any remaining Balance from your Finblox Account to be used at our sole discretion and to delete all of your information if necessary and shall not be liable to you for any information deleted. After Account deactivation and the termination of access to our Services, you shall immediately discontinue the use of Finblox Services. It is imperative that these Terms, all legal obligations herein, and any such other agreements between Finblox and you governing your use of Services will not in any way be affected by the deactivation of your Account and that any agreement shall continue to be in effect in accordance with these Terms.

16. Liability for Unauthorized Transfers

You must notify Finblox immediately if you discover any suspicious activity or transactions, unauthorized logins, or if you suspect or know that your Account has been used by an unauthorized person. YOU AGREE THAT YOU ARE RESPONSIBLE FOR MAINTAINING THE SECURITY AND CONFIDENTIALITY OF YOUR LOGIN AND PASSWORD, AND YOU ACCEPT ALL RISKS ASSOCIATED WITH UNAUTHORIZED ACCESS AND USE OF YOUR ACCOUNT.

17. Conflict/Disputes Involving Your Finblox Account/turn

We are not liable to you for errors that may result in a financial loss to you. We may take any action that is authorized or permitted by these Terms or applicable laws without liability to you, even if such action causes you to incur fees, expenses or damages. If third parties make claims on your Account, if we receive conflicting instructions from you, or if we become involved in or concerned about a dispute between you and any third party, we reserve the right to react in ways that we believe in good faith to be appropriate, including by closing, suspending or freezing your Account, delivering the Digital Assets available therein to you or any third party, or interpleading assets to the court, all as we reasonably deem appropriate under the circumstances.

You are liable for all expenses and fees we incur for such conflicts or disputes, including internal costs and attorneys’ fees, and we may charge or deduct them directly from your Account Balance.

We are not responsible for delays or losses incurred as a result of an error in the initiation of any transaction and have no obligation to assist in the remediation of such transactions. By initiating any transfer or using Finblox’s Services in any way, you attest that you are transacting in an Eligible Digital Asset which conforms to the particular Virtual Wallet and/or blockchain network into which assets are directed. For example, if you select an Ethereum Virtual Wallet Address to receive assets. You shall be solely responsible for ensuring that you initiate a transfer of Ethereum alone and not any other currency such as Bitcoin or Ethereum Classic or any other blockchain network. Finblox incurs no obligation whatsoever with regard to non-Eligible Digital Assets deposited through Finblox or for Eligible Digital Assets sent to an incompatible Virtual Wallet Address or blockchain network. Erroneously transmitted assets from any users may be permanently lost. We recommend that Users deposit a small amount of Digital Assets as a test before initiating a transfer of a significant amount of Digital Assets.

18. Legal Process Affecting Finblox Account

Finblox may refuse to permit the withdrawal or transfers from your Account if any legal action is brought against or in connection with your Account by any competent authority in any jurisdiction until all legal proceedings have been satisfied. Finblox reserves the right, regardless of the terms of any legal proceedings against you, to have the first claim to any or all assets in your Account. Any legal proceedings shall not be contested by Finblox on your behalf and, without liability to you, we may take actions to comply with the law provided that we reasonably believe any such action is appropriate. Finblox may charge your Account without prior notice for any expenses and fees accrued from any legal proceedings in connection with your Account. If any levy or garnishment has been placed against your Account, we have the right to setoff any security interest.

19. Indemnification and Limitation of Liability

A. General

You agree to indemnify and hold harmless Finblox, its affiliates, subsidiaries, parent companies, contractors, licensors, and their respective directors, officers, employees, and agents (collectively, the “Indemnified Parties”) from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to (i) your use of the Services or conduct in connection with the Services, (ii) your breach or our enforcement of these Terms, or (iii) your violation of any applicable law, regulations of any jurisdiction or rights of any third party during your use of the Services. If you are obligated to indemnify the Indemnified Parties, pursuant to this Section, we shall have the right, in our sole discretion, to control any action or proceeding and to determine whether we wish to settle, and if so, on what terms.

To the maximum extent permitted by applicable law, in no event shall the Indemnified Parties be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, property information, revenue or profits, whether it be for business or financial benefit) arising out of or in connection with the access and use of any Services, any performance or nonperformance of the Services or any other product, Services or other items provided by or on behalf of Finblox whether under contract, statute, strict liability or other theory, except to the extent of a final judicial determination that such damages were a result of the gross negligence, fraud, willful misconduct or intentional violation of the law.

Finblox and other Indemnified Parties are not liable to you for claims, costs, losses, or damages of any kind as outlined above if Finblox or other Indemnified Parties are unable to provide any of the Services to you due to:

  1. Reasons attributable to the User;
  2. Reasons attributable to actions or inaction of any third party,
  3. Reasons attributable to VGPs with whom your Digital Assets are placed and that are or were unable to honor their obligations before Finblox;
  4. Delays in service provision due to regular and unplanned maintenance, as well as other related events impacting the network;
  5. Tampering, unauthorized access or use of any server or database, and the use and/or abuse of information contained therein, including hacking, viruses, bugs, trojan horses or of the like that may affect the Platform;
  6. Money laundering or other financial crime impacting your Account or the Platform;
  7. Liquidity concerns, market volatility or any other events or circumstances that, in our opinion, threaten the integrity and liquidity of the Platform;
  8. Characteristics of Digital Assets, including technical limitations or defects inherent to the digital asset issuance management system;
  9. Transactions or other dealings between Users or between a User and a third party;
  10. Natural disasters or force majeure events.

Finblox is not responsible for the use of any Services provided for free (where Finblox does not generate revenue from providing the particular type of Service to the User) unless otherwise specified in the relevant laws and regulations.

Except for any setoff permitted by applicable law and Section 12 of these Terms, any obligations of ours may be satisfied solely from the assets of Finblox. Without limiting the generality of the foregoing, in no event shall you have any recourse with respect to our obligations, to or against any assets of any person or entity other than Finblox, including, without limitation, any User, shareholder, affiliate, parent entity, subsidiary, investor, employee, officer, director, agent or advisor of Finblox. For the avoidance of doubt, the foregoing shall not limit any setoff permitted by applicable law and Section 12 of these Terms.

NOTWITHSTANDING THE FOREGOING, IN NO EVENT SHALL THE LIABILITY OF FINBLOX OR OTHER INDEMNIFIED PARTIES ARISING OUT OF OR IN CONNECTION WITH THE SERVICES, ANY PERFORMANCE OR NONPERFORMANCE OF THE SERVICES OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF FINBLOX WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY, EXCEED THE AMOUNT OF REVENUE THAT FINBLOX OBTAINED IN CONNECTION WITH RENDERING THE SERVICES TO A PARTICULAR USER IN THE TWELVE MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.

The conditions, limitations, and indemnification in these Terms confer benefits on Finblox and all other Indemnified Parties.

B. Limitation of Liability in Connection with the FinLaunch Service

You hereby acknowledge and agree that any relations of you acquiring, owning and holding of Third-Party Digital Assets by way of using the FinLaunch Service shall be directly between you and the Issuer. Unless Finblox is the Issuer, in all other cases Finblox will not and shall not be a party or any kind of intermediary of any such relations between you and the Issuer. Any disputes or claims related to any aspects of owning, holding of Digital Assets issued by the Issuer, their functionality, rights and obligations of their owners or holders as well as their regulatory status, any related representations or warranties shall be addressed to the Issuer and settled directly between you and the Issuer. Finblox will not and shall not be a party to any such claims or disputes.

We do not and will not set or determine any intended functionality or features of third-party Digital Assets Tokens, Third-Party Token model, initial supply of Third-Party Tokens and any distribution approaches. Finblox cannot guarantee that distribution of Third-Party Digital Assets will be timely and in the expected amount as it may depend on various reasons, including but not limited to, delays in supply or transfer of Digital Assets by the Issuer, any technical issues of integration with the Issuer’s software or infrastructure.

You are responsible for evaluating and determining the suitability of purchasing and/or acquiring Third-Party Digital Assets. You acknowledge and agree that Finblox is not and will not be responsible for any Issuer’s project, its performance and suitability to you. You hereby represent and warrant that prior to purchasing and/or acquiring any Third-Party Digital Assets you will check available materials and documents describing this Third-Party Digital Asset, its functionality, model, the scope of rights and obligations, legal and regulatory qualification of the Token, will evaluate the Issuer’s planned services and/or products connected with the Token usage.

You acknowledge and agree that in purchasing or acquiring Tokens through FinLaunch, you are not relying in any manner on Finblox or our affiliates.

You acknowledge and agree that the fact that any particular Third-Party Digital Assets is accessible or acquirable through FinLaunch in no way constitutes any endorsement or indication that such Third-Party Digital Assets has undergone any form of due diligence review or qualification, and in no way indicates any party’s opinion that such Third-Party Digital Asset is safe, suitable, true to any third party representations made, verified or verifiable, or of any value or quality or legality.

You hereby acknowledge and agree that blockchain, tokens, wallet gateways, decentralized protocols and smart contract technologies are still in an early development stage and their application of experimental nature. You acknowledge and agree to all risks as stipulated herein and in the Risk Disclosure, as they apply to the FinLaunch Service.

20. Disclaimer of Warranty

FINBLOX AND THE INDEMNIFIED PARTIES MAKE NO WARRANTIES OR REPRESENTATIONS ABOUT THE SERVICE AND ANY CONTENT AVAILABLE ON THE SERVICE, INCLUDING, BUT NOT LIMITED TO, THE ACCURACY, RELIABILITY, COMPLETENESS, TIMELINESS OR RELIABILITY THEREOF. INDEMNIFIED PARTIES SHALL NOT BE SUBJECT TO LIABILITY FOR THE TRUTH, ACCURACY OR COMPLETENESS OF ANY CONTENT OR ANY OTHER INFORMATION CONVEYED TO ANY USER, FOR ERRORS, MISTAKES OR OMISSIONS THEREIN, OR ANY DELAYS OR INTERRUPTIONS OF THE DATA OR INFORMATION STREAM FROM WHATEVER CAUSE. TO THE FULLEST EXTENT PERMITTED BY LAW, AS A USER, YOU AGREE THAT YOU USE THE SERVICES AND ANY CONTENT AT YOUR OWN RISK. INDEMNIFIED PARTIES DO NOT WARRANT THAT THE SERVICE WILL OPERATE ERROR-FREE OR THAT THE SERVICE AND ANY CONTENT ARE FREE OF COMPUTER VIRUSES OR SIMILAR CONTAMINATION OR DESTRUCTIVE FEATURES. IF YOUR USE OF THE SERVICE OR ANY CONTENT RESULTS IN THE NEED FOR SERVICING OR REPLACING EQUIPMENT OR DATA, NO INDEMNIFIED PARTIES SHALL BE RESPONSIBLE FOR THOSE COSTS. THE SERVICE AND ALL CONTENT ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY WARRANTIES OF ANY KIND AND TO THE FULLEST EXTENT PERMITTED BY LAW, INDEMNIFIED PARTIES DISCLAIM ALL WARRANTIES, INCLUDING, BUT NOT LIMITED TO, THE WARRANTIES OF TITLE, MERCHANTABILITY, NON-INFRINGEMENT OF THIRD PARTY RIGHTS, AND FITNESS FOR A PARTICULAR PURPOSE. IN NO EVENT SHALL ANY OF THE INDEMNIFIED PARTIES BE LIABLE FOR ANY SPECIAL, INDIRECT, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION RESULTING FROM, OR IN CONNECTION WITH, THE USE OR INABILITY TO USE THE SERVICES AND ANY CONTENT, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), OR ANY OTHER LEGAL THEORY. FINBLOX AND ANY OTHER INDEMNIFIED PARTIES SHALL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES WHICH MAY INCUR AS A RESULT OF ANY DELAY IN THE PROVISION OF THE SERVICES.

21. Governing Law and Jurisdiction

These Terms of Use are governed by and construed in accordance with the laws of Lithuania to which the User irrevocably and unconditionally submits.

22. Disputes, Binding Arbitration, Class Actions, and Class Arbitrations Waiver

The terms of this Section shall apply to all disputes between you and Finblox. For the purposes of this Section, “Dispute” shall mean any dispute, claim or action between you and Finblox arising out of, under or relating to your Account, the Finblox platform, these Terms, or any other transaction involving you and Finblox, whether in contract, warranty, misrepresentation, fraud, tort, intentional tort, statute, regulation, ordinance or any other legal or equitable basis, and shall be interpreted to be given the broadest meaning allowable under law.

A. Negotiations

If any dispute arises under these Terms that is not settled promptly in the ordinary course of business, Finblox and the User (“Parties”) shall seek to resolve any such dispute between them by negotiating promptly with each other in good faith. If the Parties cannot resolve the dispute within 30 business days (or any such period as the Parties shall otherwise agree) through negotiations, then any such dispute shall be submitted to mediation per the provisions below.

B. Mediation

Any dispute or difference between the Parties not settled by negotiations shall be referred to mediation at Hong Kong International Arbitration Centre (HKIAC) in accordance with its then-current Mediation Rules.

C. Arbitration

If the mediation is abandoned by the mediator or is otherwise concluded without the dispute or difference being resolved, then such dispute or difference shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be Hong Kong law. The seat of arbitration shall be Hong Kong. The number of arbitrators shall be one. The arbitration proceedings shall be conducted in English.

D. Waiver of Class Actions and Class Arbitrations

YOU AND FINBLOX AGREE THAT EACH PARTY MAY BRING DISPUTES AGAINST THE OTHER PARTY ONLY IN AN INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS IN ANY PURPORTED CLASS ACTION, COLLECTIVE ACTION, OR REPRESENTATIVE PROCEEDING, INCLUDING CLASS ARBITRATIONS. ACCORDINGLY, UNDER THE ARBITRATION PROCEDURES OUTLINED IN THESE TERMS, AN ARBITRATOR SHALL NOT COMBINE OR CONSOLIDATE MORE THAN ONE PARTY’S CLAIMS WITHOUT THE WRITTEN CONSENT OF ALL AFFECTED PARTIES TO AN ARBITRATION PROCEEDING. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, YOU AND FINBLOX AGREE THAT NO DISPUTE SHALL PROCEED BY WAY OF CLASS ARBITRATION WITHOUT THE WRITTEN CONSENT OF ALL AFFECTED PARTIES.

23. Intellectual Property Rights

The contents and design of the Website, logos, trademarks, the Services and any material accessed by you on the Platform, Website and/or Finblox and the Services is copyright of Finblox and its licensors. You may not use or reproduce or allow anyone to use or reproduce any trademarks (such as Finblox name and logo or other trade names appearing on the Site or any Digital Application) for any reason without written permission from Finblox. The software and Platform that operates the Website and all the Services are proprietary software and you may not use it except as expressly allowed under these Terms. You may not copy, reverse engineer, modify or otherwise deal with the software.

24. Waiver

Failure or delay to enforce any of the terms or conditions of these Terms shall not constitute a waiver, relinquishment or modification of any of our rights of any such terms or conditions or any other terms or conditions. If we somehow are deemed to have waived any of our rights or have delayed the exercise of our rights, you are still responsible for any or all Obligations required by you to us under these Terms.

If we delay any exercise of our rights, or if notwithstanding the foregoing Finblox somehow is deemed to have waived any of our rights, you are still obligated to pay us Obligations you may owe us, remove any violation of these Terms and/or otherwise follow our instructions (as applicable). Any delay or waiver of our rights applies only to the specific instance in which we decide to delay or waive the provision and does not affect our other or subsequent rights in any way.

25. Assignment

The User may not assign, delegate, sub-contract or otherwise transfer all or part of his rights or obligations under the Terms of Use whether by operation of law or otherwise, without Finblox’s express written consent, and any attempted assignment in violation of this prohibition shall be void ab initio and of no effect. Finblox may assign, delegate, sub-contract or otherwise transfer all or part of its rights and/or obligations under these Terms without notifying the User or obtaining the User’s consent. Any permitted assignment or transfer of or under these Terms shall be binding upon and inure to the benefit of the successors, executors, heirs, representatives, administrators, and permitted assigns of the parties hereto.

26. Taxes

You are responsible for your tax obligation arising from your use of the Services. It is your responsibility to determine what kind of filing or reporting is required of you by the competent tax authority, which taxes and to what extent you are obliged to pay, and which tax exemptions you are eligible to. Finblox shall not be required to compensate you for your tax obligation or advise you in relation to your tax issues. Notwithstanding the foregoing, Finblox may make any tax withholdings or filings that we are required to do by law.

27. Severability

The illegality, invalidity or unenforceability of any provision of the Terms of Use under the law of any jurisdiction shall not affect its legality, validity or enforceability under the law of any other jurisdiction, nor the legality, validity or enforceability of any other provision. If any provision in the Terms of Use shall be held to be illegal, invalid or unenforceable, in whole or in part, the provision shall apply with whatever deletion or modification is necessary so that the provision is legal, valid and enforceable, and gives effect to the commercial intention of the Parties.

To the extent it is not possible to delete or modify the provision, in whole or in part, then such provision or part of it shall, to the extent that it is illegal, invalid or unenforceable, be deemed not to form part of the Terms of Use and the legality, validity and enforceability of the remainder of the Terms of Use shall, subject to any deletion or modification made under this Section, not be affected.

28. Fairness and Reasonableness

You confirm that you have had the opportunity to seek independent legal advice relating to all the matters provided for in these Terms and agree that there shall be no presumption that any ambiguity in the Terms should be construed against Finblox solely as a result of the role of Finblox in the drafting of the Terms, and that the provisions of these Terms and all documents entered into pursuant to the Terms are fair and reasonable.

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When you transfer your digital assets through Finblox, the funds will be held initially with our custodial partner Fireblocks, the most trusted leading digital asset security infrastructure providing enterprise-grade security, insurance, and 24/7 access to digital assets.

Finblox is not a bank nor a deposit account, nor is it a depository institution, custodian, fiduciary, or any other type of asset account characterized as a banking product or service. Any information, services, and comments provided on the site are for informational and self-help purposes only and are not intended to be a substitute for professional financial advice. When you purchase crypto (Digital Assets) on the Finblox platform, your purchase will be facilitated by a third party. Finblox does not provide fiat-to-crypto onboarding.

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