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Privacy Policy

The current version of this Privacy Policy is: August 2021

1. About this Privacy Policy

Privacy and data security have an enormously high priority for the MBX Group. It is very important to us that you feel safe during your visit to our website and while using our services as well as over the course of all other business transactions with us. As soon as you make use of products and/or services of MBX Group, you entrust us with the processing of your personal data. MBX Group wants to give you the best possible experience with our platform to ensure that you enjoy the usage of our products and services now and in the future. That’s why we want to understand the user behavior on our platform in order to improve it continuously. Thus, besides being needed for our provided services, it is also necessary for improving usability to process your personal data.

Therefore, in this Privacy Policy, we want to transparently inform you which personal data we collect from you, how we process it and to whom we might forward it in detail. Furthermore, we would like to inform you which precautions we take to protect your personal data, which rights you have in this context and to whom you can turn for data protection concerns.

Regarding the terms used in this Privacy Policy, such as “Processing” or “Controller”, we refer to the definitions of the GDPR.

2. About MBX Group

Blockchain Mercantile Company and its direct and indirect subsidiaries (hereinafter referred to as "MBX" or "MBX Group" or "we") offer via its websites and IT systems (together hereinafter referred to as "website" or “platform”) services and products related to buying and selling tokenised commodities, crypto-assets and other digital assets as well as IT services.

For more information please visit the Who we are page on our website.

3. Applicability:

To whom does this Privacy Policy apply?

This Privacy Policy applies to all persons who use MBX services, the website, or interacts otherwise with the MBX Group (e.g. business partners, interested parties, service providers, etc.); generally, such persons are hereinafter called "Client” or “you”.

Cookies: For data processing in connection with cookies and similar technologies, please also check our cookie policy.

4. Minors:

Are minors allowed to use MBX services?

No, the products and services of MBX Group are not directed to people under the age of 18 years. Only persons of legal age are permitted to use the services of MBX and register for an account. Therefore, we are not knowingly collecting personal data from minors. So, if you are under the age of 18 years, please do not use our platform and do not provide us with any personal data.

5. Controller:

Who is responsible for the data processing and who can you contact?

MBX will solely use the personal data provided by you in compliance with the applicable data protection requirements, this Privacy Policy and your consent.

Generally, each company of the MBX Group is a controller and/or joint controller in the meaning of Art 4 para 7 GDPR and therefore responsible for the processing of personal data in connection with the services provided by the specific company.

Due to our high data security standards, we consider it necessary to implement a group-wide uniform data protection strategy. Thus, Blockchain Metal Ticaret ve Lojistik Limited, as the parent company, acts as a central point of contact for all data protection issues concerning all services offered by the MBX Group via the website and platform.

If you have any questions in connection with the processing of your personal data and the exercising of your rights under GDPR, you can contact our privacy team: [email protected] Please note that for certain requests, we require further identification data from you (e.g. Passport, ID card, etc), in order to ensure that your personal data is only shared with you.

6. Data categories and sources:

Which personal data do we process and from which sources does the data originate?

We process the personal data that we receive from you within the scope of the business relationship and usage of our Website. Furthermore, we might process data we receive within the MBX Group and data we have received from credit agencies, debtor directories, business analysis providers and from publicly accessible sources (e.g. commercial register, register of associations, land register, media, sanctions lists).

When using our services or interacting with MBX, the following personal data might be processed:

Contact data: when creating a new user account or communicating with MBX, we might process for example: name, address, telephone number, email, date of birth, photo for the account, etc.
Verification data: when an account is verified, also depending on the level of verification, therefore we might process for example: screenshots of national identity documents, like passport, driving licence, ID card, and identification data from these documents, utility bill details for residence verification, data about status of political exposed persons, video data from the video authentication process, biometric data for verification (see point 8), etc.
Financial data: over the course of purchase and sale transactions, we might process for example: bank details (IBAN, BIC), payment service provider information, payment details, transaction-ID, etc.
Log data: during activities on the website, we might process for example: IP-address, transaction data, deposit and withdrawal address, computer or mobile device information, frequency, time, operating system, browser type, device type, unique device identification number, identification cookies (e.g. for the Affiliate and Tell-a-Friend programme), optionally form data, crash reports, performance data, third-party cookies, etc.
Company details: if you use a business account we might process for example: commercial register reports, data of or concerning beneficial owners, records or additional information on recent, past or planned business activities, other data necessary to determine/validate the structure, the beneficial ownership or any power of attorney of the company, etc.
Details to and proof of funds: if proof of funds is necessary, we might process for example: banking statements or any other details provided by banks or financial institutions, contracts of sales or contracts in general, or any other suitable data to prove or determine the origin of funds, if exceeding the daily/monthly or general limits on MBX. In order to determine Client's purpose for using the above-mentioned services or trading volume additional information on recent, past or planned business or personal activities of business or private Clients or other data to determine the Client’s intentions, if necessary, can be processed, as requested by MBX or provided by the Client.
Support requests: if you contact our support, we might process for example: personal data provided to the support team when you submit a request to MBX support team or any other member of the MBX team.
Marketing data: if you visit our website or social media sites (like the LinkedIn Page), we might process statistical and marketing data for example: number of visitors, frequency, clicks, time, places, target groups, data from cookies and similar technologies (Pixels, ClearGIFs, etc.), consumer’s behaviour, interests and preferences, data about market research and target groups surveys, etc.; for social media see also point 11 and for cookies our Cookie Policy
Photo, video and audio data: When we attend or organise events or fairs or hold interviews with people, we may take photos and other recordings of such events and might process photo, video and audio data. However, we will always inform you separately about such recordings.
Hiring data: if you apply for a job on our website or via LinkedIn, we might process data which is necessary for the recruitment process, for example: contact data, curriculum vitae, qualifications, police clearance certificate, credit report, national identity documents like passport, driving licence and the data from all these documents, links to your portfolio or social media platforms, etc.

7. Purpose and legal basis for using personal data:

For which purposes and on what legal basis do we process your personal data?

We process your personal data based on at least one of the legal bases listed below. If MBX were to ask for the provision of any other personal data not described above, then such data and the purpose and legal basis for the collection and processing will be communicated to the Client at the point of collecting the personal data.

7.1. For the performance of contractual obligations (Art 6 para 1 lit b GDPR):

Processing of personal data might be necessary for the performance of the contract with you or in order to take steps at your request prior to entering into a contract. The following data processing operations, for example, are covered by such contractual obligations:

general performance of our services, all tasks necessary for the operation, performance and administration of our platform;
account management (e.g. continuous updating of Client data);
execution of your purchases (e.g. payment processing, chargebacks, proof of purchase and selling);
performance of the Affiliate programme and the Tell-a-Friend programme;
Client service and support requests (e.g. contacting because of complications, Zendesk);
authentication process if you register for an account (validation of identity);
analysis and improvement of the platform's quality and the general user experience (e.g. performance tracking on the platform);
data security and IT-security on our website and safeguarding our network (e.g. prevention of identity theft and defective or suspicious accesses to our websites);
recruitment process for new employees.

7.2. For compliance with legal obligations (Art 6 para 1 lit c GDPR):

Processing of personal data might also be necessary for complying with various legal obligations (e.g. 5. AMLD, ZaDiG 2018, GewO 1994, etc.). The following data processing operations, for example, are covered by such legal obligations:

contract management, accounting and invoicing;
compliance and risk management;
Know-Your-Customer measures like identity authentication process (validation of identity) and proof of funds;
monitoring for prevention of fraud, misuse (e.g. for illegal purposes), money laundering and terrorist financing;
providing information to fiscal criminal authorities in the context of fiscal criminal proceedings or to prosecution in accordance with official orders;
consultation of credit agencies to determine creditworthiness and default risks.

7.3. To protect legitimate interests (Art 6 para 1 lit f GDPR):

Where necessary, data processing might take place beyond the performance of the contract in order to maintain the legitimate interests of MBX or a third party. The following data processing operations are covered by such a legitimate interest:

prevention of fraud, misuse (e.g. for illegal purposes), money laundering and terrorist financing;
risk management and risk minimisation e.g. through enquiries to credit agencies, debtor directories or providers of business analysis;
identification and examination of potentially defective or suspicious business cases and accesses to our websites;
data transmission within the MBX Group for internal administrative purposes;
account management and handling general Client requests and inquiries;
measures for protecting our Clients and Partners, as well as safeguarding network and information security; also measures to protect our employees, Clients and property of MBX e.g. through video surveillance (erasing cycle 72 h) and from external data centres and service providers;
processing inquiries from authorities, lawyers, collection agencies in the course of legal prosecution and enforcement of legal claims in the context of legal proceedings;
market research, business management and continuing development of services and products;
processing statistical data, performance data and market research data via the website, the Mobile App or social media platforms (e.g. Facebook, Instagram, LinkedIn, YouTube, etc.);
processing Client preferences (e.g. language, region) via cookies on our website (see also our cookie policy),
direct marketing and advertising (e.g. performance of marketing strategies, targeting of Clients, dispatch of vouchers, advertisement from MBX and its partner companies);
use of audio, video and photo data from public spaces (e.g. public events, fairs, etc.) for marketing and other representation purposes on our social media channels or our website;
performance tracking of the Affiliate program and the Tell-a-Friend program.

7.4. Based on your consent (Art 6 para 1 lit a GDPR):

If you have given us your consent to process your personal data, processing will only take place in accordance with the defined purposes and to the extent agreed in the declaration of consent. Given consent may be withdrawn at any time without giving reasons and with future effect if you no longer agree to the processing. For example, with your consent we are processing data for the following purposes:

for the use of all functions of the platform (e.g. telephone permission to read SMS confirmation);
direct marketing and advertising (e.g. Client satisfaction surveys, newsletters, sweepstakes and other advertising communications);
website analysis and tracking for advertising purposes (see also our cookie policy);
Certain uses of audio, video and photo data (e.g. commercials, interviews, etc.) for marketing and other representational purposes via various channels;
application management system, recruitment process and handling your application (e.g. voluntary retention of application data for 2 years, data transfer from your social media account when used).

Please note that the withdrawal of the consent does not affect the lawfulness of processing based on consent before its withdrawal.

8. Special categories of personal data:

Does MBX process special categories of personal data?

No, generally MBX does not process special categories of Clients' personal data. This includes data revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, or trade union membership (Art 9 para 1 GDPR). However, there is one exception to this when you voluntarily perform the verification of your account using automated authentication processes.

With this verification method, in addition to the actual verification data (e.g. copies of ID documents and identification data from these, residence, status of politically exposed persons, video data, etc.), biometric data (e.g. personal data resulting from specific technical processing in connection with the physical, physiological or behavioral characteristics of a person and enabling the unique identification of a person, e.g. facial images, dactyloscopic data) is also collected. Such processing of biometric data takes place exclusively on the basis of your express consent, which you may revoke at any time.

The biometric data will be processed solely by our processors for the purpose of verification and will be erased completely within 30 days after performing the identification.

9. Recipients of personal data:

Who receives your personal data?

We transfer your personal data only to the extent described below or within the scope of instruction at the time the data is collected from you. In addition, personal data that we collect concerning you will neither be sold by us nor otherwise disclosed to third parties.

9.1. Data transfer within the MBX Group:

Within the MBX Group, those offices or employees will receive your personal data who need it to fulfill the contractual and legal obligations and legitimate interests. We transfer personal data for the purpose of our daily business operations like account management and other operations requested by you as well as to conduct internal administrative activities efficiently in a shared way and to maintain as well as improve our products and services.

9.2. Data transfer to processors:

To a limited extent, we also transmit personal information to processors who perform services for us such as identity authentication services (e.g. IDnow GmbH, youniqx Identity AG, Onfido Limited), IT services (e.g. Amazon Web Services Inc.), Client support (e.g. Zendesk Inc.), improvement of our website; performance of contracts, account management, accounting, invoicing, examination of defective or suspicious business cases, application management and sending out newsletters. Processors may only use or disclose this data to the extent necessary to perform services for us or to comply with legal rules. We contractually oblige these processors to ensure the confidentiality and security of your personal data that they process on our behalf.

9.3. Data transfer to public bodies and institutions:

We might also transfer your personal data (i) if we are required to do so by law or in the context of legal proceedings, (ii) if we believe that disclosure is necessary to prevent damages or financial loss, or (iii) in connection with an investigation into suspected or actual fraudulent or illegal activities.

9.4. Data transfer to other third parties:

Joint Controllership: If MBX acts together with other parties as joint controller (e.g. processing data for jointly determined purposes within the MBX Group), we provide those parties with personal data if applicable and based on at least one of the legal bases listed above under Point 7. In case of a joint controllership, we transmit your personal data only based on a sufficient agreement with our partners (Art 26 GDPR).

Other third parties: MBX might transfer your personal data to any other person with your consent to the disclosure or the purpose of performing a contract or in order to take steps at the request of the data subject prior to entering into a contract.

10. International data transfer:

Is data transferred to third countries or international organizations?

Your personal data may be accessed by staff or suppliers in, transferred to, and/or stored at, a destination outside the country in which you are located, whose data protection laws might be of a lower standard than those in the European Union. However, MBX will in all circumstances safeguard personal data as set out in this Privacy Policy.

If we process personal data in a third country (outside the European Union (EU) or the European Economic Area [EEA]) or if this occurs in the context of the use of third-party services or disclosure and/or transfer of personal data to third parties, we shall only transfer personal data to the performance of our (pre)contractual obligations, based on your consent, a legal obligation or our legitimate interests. Subject to legal or contractual authorisations, we process or have personal data processed in a third country only where the conditions of Art 44 et seq GDPR are met. This means, for example, that processing and the transfer is carried out based on special safeguards, such as the adherence to a code of conduct or certification mechanism together with binding and enforceable commitments from the recipient in the third country to apply the appropriate safeguards to protect the data or compliance with officially recognised special contractual obligations published by the European Commission (known as “Standard Contractual Clauses”).

Please contact [email protected] if you need further information regarding the international data transfer or if you would like to see a copy of the specific safeguards applied to the export of your personal data.

11. Social Media presence:

Are data processed on social media platforms and who is responsible in such cases?

General: MBX maintains social media presence on different platforms (see below) in order to communicate with its active Clients, prospective Clients and interested social media users about MBX services, products and other news. When you access such social media platforms, the general terms and conditions, as well as the privacy policies of these operators, additionally apply. We would like to point out that user data may also be processed outside the European Union. This can result in risks for users due to different legal frameworks (e.g. it could make it more difficult to enforce data subject rights).

As part of the technical process of different social media platforms (e.g. Google, Facebook, Twitter, etc.), these platforms will know when you click on content or a website you are visiting, if you are logged in to your social media account at the same time. Such information is collected by social media platforms and assigned to your social media accounts, regardless of whether you click on content of this platform or not. By logging out from your accounts, you can prevent such companies from associating the information collected with your accounts. The activities of those companies are not controlled by MBX and therefore, we do not assume any liability for damages that you may incur through the use of your data by these companies. For more information regarding tracking, cookies and similar technologies as well as opt-out possibilities, have a look at our Cookie Policy.

Controller: MBX can only process personal data of social media users if they communicate directly with MBX via such platforms (e.g. number of visitors, posted articles, likes, direct messages, Client inquiries, comments, etc.). In such cases, MBX is also responsible for the processing of personal data gathered thereby. In addition to the data processing by us, other providers, in particular operators of social networks and platforms, also process personal user data. We have no influence on this data processing and are not responsible for it - the data processing takes place exclusively in the area of responsibility of the other providers.

For a detailed explanation of the respective processing and the possibilities of objection (opt-out) by providers of social media networks, we refer to the respective privacy policies of the providers (see below). In the case of requests for information and the assertion of data subject rights regarding data processing by other providers, we point out that these can be asserted with the below-mentioned providers. Only the providers have access to the data of the users and can directly take appropriate measures and give information.

Our social media pages and channels and links to their privacy policies:

Instagram Link

Facebook Link

LinkedIn Link

Twitter Link

Telegram Link

YouTube Link

Reddit Link

Facebook Insights: MBX maintains a Facebook Fanpage (“Fanpage”) and uses the associated analytic tool “Facebook Insights”. With this tool, MBX receives anonymous statistical evaluations about its Fanpage (e.g. number of visitors, frequency, target groups, etc.). For the processing of personal data in this context MBX and Facebook Ireland Limited (“Facebook”) are joint controllers (Art 4 para 7 GDPR) and therefore jointly responsible for the data processing. A corresponding agreement is in place between MBX and Facebook in accordance with 26 para 1 GDPR, which can be accessed via this link. However, MBX does not store any of this data, the data is solely stored by Facebook and processed via Insights. For all questions and inquiries regarding Facebook Insight, Facebook acts as single point of contact and can be contacted via this link.

Apply with LinkedIn Button: When using the opportunity to apply for jobs via the social sign-in button “Apply with LinkedIn”, provided by the social network LinkedIn (LinkedIn Corporation, 2029 Stierlin Court, Mountain View, California 94043, USA) you permit MBX to access your LinkedIn profile. After clicking on the button “Apply with LinkedIn” you will be directed to LinkedIn to enter your LinkedIn access data. You can select the data you want to share with MBX and only the data you choose is transferred to MBX. MBX will not receive any information about your login or access data on LinkedIn. For further information please also see the privacy policy from LinkedIn.

12. Newsletter:

What’s the legal basis for electronic notifications and how to unsubscribe?

In our email newsletter we inform you about MBX services and products. If you would like to receive our newsletter, you have to subscribe with your email address. We send newsletters and other electronic notifications only with your consent if you’ve subscribed for it (double opt-in) or which is recorded during registration for a MBX account, or where there is a legal basis to do so (e.g. Art. 107 para 3 of the Austrian Telecommunications Act [TKG]). With the double opt-in procedure, we check whether you are the holder of the email address given or if its holder agrees with receiving electronic notifications. This procedure serves as proof in case a third party misuses an email address through registering to receive the newsletter without the knowledge of the entitled party.

In the newsletter so-called web beacons (also called ClearGIFs or tracking pixels) might be used. Such web beacons provide us with a better understanding of our Clients' interactions with the newsletter. They fulfil a similar function as cookies, but they are not visible to users. Information can be obtained via web beacons, in particular about whether an email was opened and whether the user’s system is capable of receiving HTML emails.

You may unsubscribe from our newsletter, e.g. by withdrawing your consent, at any time. You can unsubscribe when you are logged into your account and furthermore you will find a link to unsubscribe at the end of each notification. Please note that we will continue to process your personal data until you withdraw your consent to the storage of the data, so that we can prove consent previously given to receive newsletters. The processing of this data is limited to the purpose of a possible defence against claims and you shall have the right to request the deletion of your personal data.

13. Retention and deletion periods:

For how long is my personal data processed (stored) and when will it be deleted?

We retain your personal data, as far as necessary, for the duration of the entire business relationship (from initiation through performance to termination of a contract), and in principal 1 year after termination of the business relationship. Beyond this we retain your data only for a longer period, in accordance with statutory retention and documentation obligations, to defend legal claims or with your explicit consent.

The retention period is thus determined by the statutory retention periods or limitation periods.

Unless expressly stated in this Privacy Policy, personal data processed by us shall be erased as soon as they are no longer required for their intended purpose and the erasure does not conflict with any statutory retention obligations.

14. Data subject rights:

What rights and options under GDPR do I have?

Right of access:

You have the right to request confirmation from us as to whether we are processing personal data concerning you. Where personal data concerning you is being processed, you have the right, to receive information from us within a reasonable time regarding the personal data stored about you and to receive a copy of the personal data concerning you which is undergoing processing. Please use this link if you are logged into your account to submit such a data access request.

Right to rectification:

You shall have the right to request the rectification of inaccurate personal data concerning you. Considering the purposes of the processing, you shall also have the right to have incomplete personal data completed, including by means of providing a supplementary statement.

Right to erasure:

You shall have the right to request from MBX the erasure of personal data concerning you, where one of the following grounds applies and if no further processing is required:

the personal data is no longer necessary in relation to the purposes for which they were collected;
you withdraw your consent on which the processing was based and where there is no other legal basis or overriding legitimate interest for the processing;
the personal data have been unlawfully processed; or
erasure of the personal data is required for compliance with a legal obligation under European Union or Member State law to which the Controller is subject.

Requests for the erasure of personal data must include the respective ground (Art 17 para 1 GDPR).

Right to restriction of processing:

You shall have the right to request from us the restriction of processing where one of the following conditions applies:

you contest the accuracy of the personal data (the restriction shall be put in place for a period which enables MBX to verify the accuracy of the personal data);
the processing of your personal data was unlawful, and you oppose the erasure of your personal data and request instead the restriction of their use;
MBX no longer requires your personal data for the purposes of the processing, but you require them for the assertion, exercise or defence of legal claims; or
You have objected to the processing of your personal data and it has not yet been determined whether the legitimate grounds of MBX override your own.

Right to data portability:

You shall have the right to receive the personal data concerning you which you have provided to us in a structured, commonly used and machine-readable format. You shall also have the right to request that we transfer these data directly to another controller, designated by you, where this is technically feasible and does not adversely affect the rights and freedoms of others. The right to data portability may only be exercised where the basis of the processing is either your consent or a (pre)contractual necessity, and where the processing is carried out by automated means. The right to data portability does not apply to processing which is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller.

Right to object:

You have the right to object to the processing of your personal data at any time if the processing is based on our legitimate interests. If you have objected to processing, we shall no longer process your personal data, unless we can demonstrate compelling legitimate grounds for the processing which override your interests, rights and freedoms or unless the processing is for the assertion, exercise or defence of legal claims. The objection does not affect the lawfulness of processing your personal data based on legitimate interests before your withdrawal.

Contact: To exercise one of the above-mentioned rights you can send an email to [email protected] or a letter to our registered addresses. Please note that for such requests we require further identification data from you (e.g. Passport, ID card, etc), in order to ensure that your personal data is only shared with you.

15. Objection Advertisement:

How can I object to the processing of my data for advertising purposes?

You can also object to any use of your personal data for advertising purposes. Please contact us via email [email protected] if you want to generally object to the processing of your data for advertising purposes. The objection does not affect the lawfulness of processing your personal data based on legitimate interests before your withdrawal.

You also have the possibility to directly opt-out from tracking and the setting of cookies for advertisement purposes with our Cookie Banner (please see also our cookie policy).

Please keep in mind, however, that such an objection will only be made to the MBX Group and that even after such an objection you might still receive advertising about MBX from other providers on other websites over which we have no control.

15. Automated decision-making:

Does MBX use my personal data for automated decision-making including profiling?

MBX does not use personal data for automated decision-making including profiling within the meaning of Art 22 GDPR (e.g. decisions producing legal effects concerning data subjects, or otherwise significantly affecting them, based solely on automated processing of personal data, including profiling).

16. Processing for other purposes:

Is my personal data processed for purposes other than those for which the personal data was collected?

As a general principle of MBX, we only process personal data for the purposes for which they were collected. In exceptional cases, however, we might process your personal data which we have collected for one specific purpose for another purpose. In this case, we will inform you before the intended processing about this purpose, the period for which your personal data will be stored, the exercise of data subject rights, the option to withdraw consent, the existence of the right to file a complaint with the data protection authority, whether the provision of the data was necessary on legal or contractual grounds and what the consequences would be if it were not provided, and whether automated decision-making or profiling is carried out.

17. Supervisory authority:

With which supervisory authority can I file a complaint?

You have the right to file a complaint to the competent supervisory authority, if you think your rights have been violated under the GDPR.

18. Declaration of consent:

How do I give my consent and how can I withdraw my consent?

By checking the respective box as a part of the registration process or in case of an update after the login into your MBX account, you expressly confirm that you have read the Privacy Policy and that you agree to the data processing as described therein.

By checking the respective separate box for news and updates per email (newsletter) you expressly consent that you agree to receive electronic communication as described above in point 12.

You have the right to withdraw your consent at any time via email to [email protected] or via mail to our registered addresses. Please keep in mind that we might not be able to provide all our services to you anymore, if you withdraw your consent. The withdrawal of your consent does not affect the lawfulness of processing your personal data based on consent before your withdrawal.

19. Data Security:

How is my personal data protected?

The security of data is very important to MBX and we are committed to protecting data we collect. We maintain comprehensive administrative, technical and physical measures designed to protect your personal data against accidental, unlawful or unauthorised destruction, loss, alteration, access, disclosure or use. These measures meet the highest international safety standards and are regularly reviewed regarding their effectiveness and suitability for achieving the intended safety objectives.

We have implemented the following technical and organisational measures for example:

SSL encryption on our websites from which we transfer personal data;
two-factor authentication (2FA) for our platform;
ensuring the confidentiality, integrity, availability and resilience of our systems and services;
use of encrypted systems;
pseudonymisation and anonymisation of personal data;
entry, access and transfer control for our offices and systems;
measures for rapid recoverability of the availability of personal data in the event of a physical or technical incident;
measures for privacy by design and default on our platform like e.g. prevention of user enumeration;
implementation of procedures for regular review, assessment and evaluation of the effectiveness of the technical and organisational measure to ensure the security of the processing like e.g. our bug bounty programme;
internal IT security guidelines and IT security trainings;
incident-response management.

Please also make sure that you use the two-factor authentication (2FA) for your MBX account (where possible), keep your access data confidential and protect your computer against unauthorised access.

20. Updates of this Privacy Policy:

How will I find out about changes to this Privacy Policy?

We are committed to upholding the principles of data protection up to date. For this reason, we regularly review and update our Privacy Policy. This is to ensure that it is correctly and clearly displayed on our website, contains appropriate information about your rights and our processing activities (also with regard to technical changes or business development) and is implemented in accordance with applicable law, thus complying with data protection requirements. We update this Privacy Policy from time to time when required, in order to take current circumstances into account. If we make significant changes to this Privacy Policy, we will notify you after the login into your account and provide you with the updated version of the Privacy Policy. If it is required by applicable law, MBX will obtain your express consent to significant changes.

21. How to contact us?

Thank you for reading our Privacy Policy!

If you have any further questions about this Privacy Policy or the processing of your personal data, please contact our privacy team: [email protected]

Cookie Policy

The current version of this Cookie Policy is: August 2021

What are cookies, web beacons and other similar technologies?

Generally, cookies are text files (typically made up of letters and numbers) which are downloaded to your computer, tablet, smartphone or other devices (hereinafter referred to as “device”) when you visit our website. Such files allow us to record certain pieces of information whenever you interact with our website, services (newsletter) and applications. We use most of them to optimise the performance of our website as well as to improve our platform, products and services continuously. Cookies are useful because they allow a website to recognise your devices.

There are many specific types of cookies, web beacons, and other similar technologies that are used, and their names may change from time to time. In order to help you better understand cookies and their functions as well as our use of such technologies, we would like to explain this to you hereafter in more detail.

The term cookie or tracking tool describes many different technologies, for example the following:

session and persistent cookies;

flash and HTML 5 cookies;

JavaScript Snippets;

web beacons or gifs (also called ClearGIFs, tracking pixels or pixel tags, Skript, Page Tags);

other device identifiers;

additional analytic tools without direct cookie settings.

In this Cookie Policy, we will use the term “cookie” or “similar technologies” to cover all kinds of such technologies. We will provide you with necessary details regarding special cookies and how you can change your settings regarding these technologies.

Types of cookies:

Session cookies: these are temporary cookie files, which are only active for the browser session and are thus erased after you close your browser (“session cookies”). The next time you visit that website, it will not recognise you.

Persistent cookies: these are files which are stored for a longer period in your browser’s subfolders until you delete them manually or your browser deletes them after a period contained within the persistent cookie’s file (“persistent cookies”). Usually the storage time for persistent cookies is between 30 days and a maximum 2 year (this does not necessarily apply to third party cookies, please see 11).

First-party cookies: these are cookies stored directly by the website that you are visiting, e.g. by us or by an assigned third party (“first-party cookies”).

Third-party cookies: these are cookies that are set by a party other than the website you are visiting, so a third party sets this cookie through this website (“third-party cookies”).

Cookie ID:

Cookies might contain what is known as a cookie ID. A cookie ID is a unique identifier for the cookie. It consists of a string of characters that websites and servers associate with the specific internet browser in which the cookie was stored. This allows websites to distinguish your own individual browser from other internet browsers that contain other cookies. A specific internet browser can be recognised and identified via the unique cookie ID. However, a person cannot be identified via such cookies (there may be exceptions for special tools of third parties, please see 11). Regardless, there are also cookies without a cookie ID, like most session cookies. Furthermore, some tools might recognise visitors via device fingerprinting and similar technologies.

Categories and purposes of cookies:

Cookies have many different purposes and we use them for many important functions on our website. This is why we would like to explain those categories, as well as the purposes and functions to you.

Essential cookies: such cookies can be session or persistent cookies and they are necessary to provide our services to you. Such cookies and similar technologies are essential to enable our websites to display the settings you have made and navigate the website correctly. Furthermore, we use such cookies for security reasons as well as for the general performance of our services and to offer our products (e.g. Affiliate programme and Tell-a-Friend programme). They are usually set to adapt to how you use our website before and after the login, equivalent to a client request. These cookies make it possible to remember your privacy and language settings, if you are logged into your account together with other customisations. For example, you as the user of a website do not need to enter your login details on each visit to the website, because this is handled by the website and by the cookie stored in your browser. Regarding security matters, such technologies help us with the identification and examination of potentially defective or suspicious access to our websites, user accounts and our network (e.g. prevention of identity theft, bot attacks, fraud, etc.). With such technologies, we can also detect technical issues on our website (e.g. crash reports). Essential cookies will be provided by us or by a third party whose services are implemented by us on our website (e.g. reCHAPTCHA, Sentry, Sift Science). If you block these cookies via your browser, our services cannot be provided to you.

Performance cookies: these cookies and similar technologies (analytic tools) are used to collect information about the visitors of our website (number, frequency, preferences, etc.) and how visitors use our website, so that we can measure and improve the performance of our website, including our services. They also help us to know which pages and parts of our platform are the most popular or unpopular and how visitors move around the website. This helps us improve the way our site works as well as the general user experience. Also, web analytic tools might use cookies to enhance the performance of the website. Such cookies can be session or persistent cookies. All information collected by these cookies is aggregated and therefore kept anonymous for us (this does not necessarily apply to third parties, please see 11). These cookies will be provided by us or by a third party whose services are implemented on our sites. Blocking such cookies and tools via your browser or opting-out has no effect on the services provided to you. However, it makes it harder for us to further improve the user experience that our customers appreciate so much.

Advertisement cookies: mostly, such cookies are persistent cookies from third party tools which are implemented on our website. Among other uses, such cookies allow us to deliver advertisement more relevant to you and your interests (customised advertising). We can also track our marketing campaigns with such tools (e.g. conversion tracking). Furthermore, they can limit the number of times you see an ad and generally they make advertising more relevant to you. Such cookies might collect information about you and your browsing habits, like the pages you have visited and the links you have followed. Advertising networks very often set such cookies with the permission of the website operator, whereby they can be linked directly to the websites of such companies. Thus, such third parties may be able to track your browser across other websites and create a profile with your interests; especially if you are logged into your social media accounts while surfing. This can also affect the content you see on other websites you visit. Such advertising tools also allow us to deliver ads to people on other websites or in social media who have previously visited our website (also “retargeting”). All information collected by these tools is aggregated and therefore kept anonymous for us (this does not necessarily apply to third parties, please see 11). Blocking these cookies via your browser or the opt-out has no effect on the services offered to you. However, you will still see ads, but they won't be personalised for you and therefore less relevant for you.

Other tracking technologies: Files or code like, e.g. pixel, scripts, web beacons, gifs or page tags, might be implemented in emails (e.g. newsletter), applications or in ads, to record your interaction with us, so that we can better analyse and improve our services and campaigns. You can generally block such technologies by adjusting either your browser or device settings (please see 9). As long as you use the browser, these settings should apply to all technologies, whether they are on a website or in an email. However, in some cases, depending on your email or browser settings, the files might be automatically accepted. Blocking such cookies and similar technologies does not affect the service offered to you.

Mobile App Tracking: When you use our Mobile App, we might record information that is unique to you and associated with your device (such as operating system, IP-address, browser type, device type, unique device identification number), your activities within the app, and your network location. This information is used to measure and improve the performance and usability of the Mobile App.

Personal Data:

Do we process personal data via cookies?

In general, no personal data will be processed via cookies. However, in some cases the collected data might be considered as personal data and so, we might process personal data via cookies on our website. If we want to process your personal data, then only to the extent there is a legal basis and purpose for the processing and only in accordance with the applicable data protection laws (e.g. GDPR and DSG). For further information in this regard, we refer to our privacy policy.

Hyperlinks:

What about links to other websites and content of third parties?

Our website and this Cookie Policy contain links to other websites and by clicking on the links you will be redirected to a website of a third-party over which we have no control. Therefore, we do not assume any liability for the content of such websites. The respective provider of the linked website is solely responsible for the content and correctness of the information provided there, as well as for the tracking and setting of cookies by such websites.

Cookie preferences:

How to manage your cookie preferences and what other options do you have?

There are many different options to prevent tracking and setting of cookies in your internet browser and on your devices. Below are some of the most important possibilities and tools for your devices.

Appropriate settings in your browser:

You can prevent setting of cookies through our website at any time by selecting the appropriate setting (e.g. Do Not Track) in your internet browser used and may thus permanently object to the setting of cookies or getting informed if a new cookie was set. Cookies which have already been set can be deleted at any time via your internet browser or other software programs. This can be done in all commonly used internet browsers. If you use a DNT (“Do Not Track”) function, we won’t track you or store any first-party cookies on your devices. However, please note that this does not apply to Essential Cookies. Furthermore, tracking tools from third-parties might be still able to track you (for further information see Point 9.4 and 11). If the setting of cookies is fully disabled in your internet browser, not all functions of our website may be fully usable for you.

You can find a description of appropriate settings for each common browser with the following links:

GOOGLE CHROME AND CHROME ANDROID AND CHROME IOS
Safari and Safari iOS
Mozilla Firefox
Internet Explorer

Prevention of third-party cookies:

We have implemented different tools from third parties on our website, which can also store cookies on your devices. For further information regarding these tools and the processing of your personal data in this regard as well as the opt-out possibilities, please see the table with links for each provider in point 11.

Additional measures:

In addition to the setting and opt-out options described above, tracking by third-parties can be enabled and disabled generally for most providers via the following websites:

For the European Union	Link
For the USA	Link or Link
For Canada	Link

Cookie consent:

How do you give your consent to the use of cookies?

The first time you visit our website with one of your devices, a pop-up will appear (“cookie-banner”) with the information that our website uses cookies as well as a link to our Cookie Policy and Privacy Policy. With the cookie-banner we will ask you for your consent to the use of cookies.

Which cookies are covered by your consent?

We have divided the cookies we use into three categories: “Essential”, “Performance” and “Advertisement”. In our cookie-banner, you can tick the boxes and therefore decide if you consent to the categories regarding Performance and/or Advertisement cookies or not. Essential cookies are necessary for providing our services to you (e.g. helpdesk, language, login, etc.) as well as for the security of our website and our clients (e.g. reCAPTCHA, Sift Science) and therefore you cannot opt-out this category. If you block these essential cookies via your browser, our services cannot be provided to you.

By clicking on the "Accept All" button, you expressly consent to the use of the three categories of cookies or, depending on your selection, only the categories of cookies you have selected. In addition, you agree to the related data processing and our Cookie Policy.

How can you revoke your consent?

You can revoke your consent for advertising and performance cookies at any time by deleting the cookies from your device and adjusting your browser settings or the settings in the cookie-banner. However, such settings may compromise the functionality of the website and the ads you see. The revocation of your consent does not affect the lawfulness of processing based on consent before its withdrawal.

Please note, that if you unsubscribe from advertising cookies, the ads will not be removed from the websites you visit; instead, it means that the ads you see might not match your interests.

Which cookies can we use without your consent?

We do not give you an opt-out possibility regarding the use of essential cookies, but you still have the possibility to block such cookies via your browser settings. The usage of essential cookies might be necessary for the performance of the contract with you or in order to take steps at your request prior to entering into a contract (Art 6 para 1 lit b GDPR) or to maintain our legitimate interests (Art 6 para 1 lit b GDPR). Therefore, your explicit consent for using essential cookies is not necessary. Such cookies ensure the functionality and security of our website and services. We assume that such a use of cookies is also in your interest, this because they help us to prevent crashes or other technical issues on our website and protect the confidentiality of your data. If you block these cookies via your browser, our services cannot be provided to you.

In most cases Essential Cookies are session cookies and no personal data is processed with them. With such cookies we might process for example: date and time of your request, IP address, time zone, language, details of the request (specific page), information about your browser (version of the browser), the device and the operating system, network connection (e.g. Wi-Fi or cellular). For further information, please see also our privacy policy.

Through the use of the following tools we can provide you with, our services analyse the causes of technical malfunctions and avoid the authenticity of your data being impaired. Therefore, the use of these tools is covered by the mentioned legal bases:

reCAPTCHA: this tool is only active when you use the log-in or sign-up button. The software helps us to detect abusive traffic and spam. The software uses a risk analysis engine and adaptive challenges to keep automated software from engaging in abusive activities. The tool does not set cookies to your browser but analyses the use of the login page in the background (see also point 11).

Third-party tools:

Which tools from third parties do we use and how you can opt-out?

The following tools from third parties are implemented on our website and therefore they might store cookies on your devices or track your behavior when you visit our website. Because of how cookies and similar technologies work, we cannot access data collected by third-party cookies, nor can other companies or persons access the data generated by such tools. Furthermore, not all tracking functions of third-party tools can be controlled by us. Therefore, we do not assume any liability for any negative impact that you may incur through the use of your data by such third-party tools. All these providers are obliged to comply with the applicable data protection regulations and moreover, they are solely responsible, as defined under Art 4 no 7 GDPR, for any processing of personal data.

For more information regarding third-party tools, the cookie settings and the processing of personal data in this regard, please click on the respective links for each provider. In addition to the general opt-out possibilities in Point 9, we provide you in the following table with opt-out possibilities for such tools and you can therefore disable the setting of cookies and sharing your data.

Tool	Provider	Type of cookies	Policies	Opt-out Information

Google Analytics and GA Audiences	Google LLC 1600 Amphitheatre Pkway, Mountain View, CA 94043-1351, USA	Performance and Advertisement	Privacy Policy Cookie Policy	Opt-out add-on
Google AdWords and conversion tracking	Google LLC 1600 Amphitheatre Pkwy, Mountain View, CA 94043-1351, USA	Advertisement	Privacy Policy Cookie Policy	Opt-out
Facebook Pixels and Custom Audience	Facebook Ireland Ltd 4 Grand Canal Square, Grand Canal Harbor, Dublin 2, Ireland	Advertisement	Privacy Policy Cookie Policy About Pixel	Opt-out
Facebook Social Media Plugin	Facebook Ireland Ltd 4 Grand Canal Square, Grand Canal Harbor, Dublin 2, Ireland	Advertisement	Privacy Policy Cookie Policy	Opt-out
Facebook SDK	Facebook Ireland Ltd 4 Grand Canal Square, Grand Canal Harbor, Dublin 2, Ireland	Mobile App Tracking (Performance)	Privacy Policy Cookie Policy	Opt-out via App settings
Bing Ads	Microsoft Ireland Operations Limited 70 Sir John Rogerson’s Quay, Dublin 2, Ireland	Advertisement	Privacy Policy	Opt-out
Twitter Conversion Tracking	Twitter Inc 1355 Market St, Suite 900, San Francisco, CA 94103, USA	Advertisement	Privacy Policy Cookie Policy	Opt-out
Reddit Conversion Pixel	Reddit Inc 548 Market St #16093 San Francisco, CA 94104, USA	Advertisement	Privacy Policy	Opt-out User opt-out
reCAPTCHA	Google LLC 1600 Amphitheatre Pkway, Mountain View, CA 94043-1351, USA	Essential	Privacy Policy	Opt-out via your browser
For an always up to date list see your privacy settings

Updates of this Cookie Policy:

How do you find out about changes to this Cookie Policy?

We are committed to upholding the principles of privacy. For this reason, we regularly review and update our Cookie Policy. This is to ensure that it is correctly and clearly displayed on our website, contains appropriate information about your rights and our activities (technical changes or business developments) and is implemented in accordance with applicable law, thus complying with ePrivacy (Telekommunikationsgesetz) and other data protection requirements. We update this Cookie Policy from time to time when required, in order to take current circumstances into account. We will always provide you with the latest version of our Cookie Policy on our website. If it is required by applicable law, we will obtain your express consent to significant changes.

How to contact us?

Thank you for reading our Cookie Policy!

If you have any further questions about this Cookie Policy, please contact our privacy team: [email protected]

General Terms and Conditions

ARTICLE 1 – INTRODUCTION

1.1. This User Agreement ("AGREEMENT") and other rules contained on the website www.mercantilebx.com regulate the terms and conditions of the services offered by MBX Group. All policies and rules contained on this Site constitute an integral part of this agreement and form an appendix to this agreement. Whitelisted Users may have access to supplementing contracts for specific products or services on their accounts page on our website, in such cases, and where there are differences, the mentioned supplementing contracts preceed provisions contained herein in relation to the relevant product or service.

1.2. The parties of this agreement are You ("USER" or “MEMBER”) and Blockchain Metal Ticaret ve Lojistik Limited Şirketi ( “MBX”) which is registered at Dereboyu Caddesi, Bilim Sokak, No:5, Sun Plaza Floor: 23, 34398 Maslak – Sarıyer/İstanbul, its subsidiaries and holding companies. By using MBX services, you declare that you have the right, authority and legal capacity to sign a contract in accordance with the laws that you are bound by and that you are over 18 years old and you have read this agreement and that you accept the terms and conditions of the agreement.

1.3 You must agree to all of the terms of this Agreement. If you do not agree to or accept all of the terms of this Agreement, please immediately discontinue access to, and use of, all MBX services and products. This Agreement applies to all users and/or customers of MBX services and products, whether as a guest or a registered Customer.

1.4 If you are under the age of eighteen (18) or the legal age for entering legally binding contracts under applicable laws, you are not permitted to use any of MBX services and products. By continuing to access or use the Site, you indicate that you are 18 years of age or older or have the legal capacity to enter legally binding contracts under applicable laws. Misrepresentation of your age to gain access to any of MBX services and products is a breach of this Agreement.

1.5 Definitions:

“Account” means your whitelisted blockchain wallet's account with the applicable smart-contract (decentralised application or token) product or service.

“Exchange” means the crypto asset exchange owned and managed by the Company.

“Materials” means, collectively, the images and content on the Site, including, but not limited to, text, software, images, graphics, data, messages, market data or any other information, and any other website content owned, operated, licensed or controlled by the Company.

“Member” means a User who registers with the Company to use the Site, any Products, or any Services. Not all Users will become Members.

“Party” means each of the Company and you.

“UCP MBX” means the ultrafine copper powder-backed crypto-asset managed by the Company (and shall mean any other e-commodity product that is offered by the company and not explicitly mentioned herein).

“MBX” and the “Company” Blockchain Metal Ticaret ve Lojistik Limited Şirketi, an Istanbul registered limited liability company and any of its subsidiaries and holding companies.

“MBX Contractual Documentation” means each of the agreements and documents on https://mercantilebx.com which govern, in conjunction with this Agreement, the use of MBX products and services.

“Products” means the products, platforms and technology that the Company provides to Members/Users, including but not limited to the MBX Chain and E-Commodities.

“Services” means services and other actions that the Company provides to Members through the Company’s Products.

“Site” means any website managed by the Company.

“User” or “You” means someone who accesses the Site in any way.

First-person pronouns are used in this Agreement (us, we, our, ours, etc.) to refer to the Company. Second-person pronouns (you, yours) refer to the User.

1.6. You manifest your agreement to this Agreement and the MBX Contractual Documentation by taking any act demonstrating your assent thereto. Members are required to click a checkbox adjacent to and associated with the words “I agree” or some similar language to accept these Terms and Conditions. If you click any link, button or other device provided to you in any part of our Site’s interface, then you have legally agreed to all of these Terms and Conditions. Additionally, by using our Products or Services in any manner, you understand and agree that such use constitutes your affirmation of your complete and unconditional acceptance to all of the terms in this Agreement. Even if you fail to indicate your agreement to this Agreement, you understand and agree that you are still bound by the terms of this Agreement and the MBX Contractual Documentation, as applicable, by virtue of using any of our products or our services.

1.7. By your use of any of the Site, the Products, or the Services, you represent that such use is legal in your local jurisdiction, and you agree that you will not use the Site, Products, or the Services if such use is prohibited or otherwise violates the laws of the country, state, province, or other jurisdiction in which you reside or of which you are a citizen.

1.8. Revisions to This Agreement

1.8.1. From time to time, we may revise this Agreement and/or the MBX Contractual Documentation. We reserve the right to do so, in our sole and absolute discretion, and you agree that we have this unilateral right. Your continued use of the Site, the Products, or the Services shall be deemed acceptance of the then prevailing terms and conditions of this Agreement. You agree that all modifications or changes to this Agreement are in force and enforceable immediately upon posting. Any updated or edited version supersedes any prior versions immediately upon posting, and the prior version is of no continuing legal effect unless the revised version specifically refers to the prior version and explicitly states that the prior version (or portions thereof) will remain in effect. If you do not wish to be bound by the revised MBX Contractual Documentation, your sole remedy is to withdraw your funds and close your Account; if you avail yourself of this remedy, at your request, funds may be withdrawn and accounts may be closed pursuant to the version of the MBX Contractual Documentation in place at the time that you last used the Products or Services.

1.8.2. We agree that if we make any material changes to this Agreement or the MBX Contractual Documentation, as applicable, we will send you an email or written notification regarding the update and include an updated version of this Agreement on our web page. The updated version of the Agreement will include a new “last modified” date at the top of the Agreement in order to identify the then-currently applicable Agreement. Following receipt of such a notice and the posting of the updated version of the Agreement on our web page, please re-review the Agreement in order to ensure that you understand how your rights and responsibilities may have been affected by the revisions.

1.8.3. It is your responsibility to review this Site, the MBX Contractual Documentation, and Agreement on a regular basis. If you object to any such changes, your sole recourse will be to cease access to the Site, the Products, or the Services.

1.9. Although this Agreement represents the primary terms and conditions with respect to our Site, the Products, and the Services, certain additional guidelines and rules are hereby incorporated by reference. These documents, including the (i) Privacy Policy, (ii) Anti-Money Laundering/Know Your Customer Disclosure, (iii) the Market Manipulation Policy, and (iv) the rest of the MBX Contractual Documentation, as applicable, can be found on our Site and are specifically incorporated by reference and form an integral part of this Agreement.

1.10. All Users may access certain public areas of the Site; however, only Members may use the Products. You are responsible for access to the Internet, and any Internet access or other fees that you incur to access our Site, the Products, and the Services are your sole responsibility. We do not provide any hardware or software to you so that you will need to purchase or license the necessary hardware and software to access the Site, the Products, and the Services.

ARTICLE 2 – YOUR ACCOUNT

2.1. In order to purchase the products and services, you must create an Account. Your Account will be used to associate blockchain wallets with your person, verify your investor status and for anti-money-laundry purposes. You are responsible for any and all activities conducted through the blockchain wallet associated with your account. You will be asked to provide certain registration details and information that identifies each person who opens an account. For more information see the AML/KYC Policy. We refer to the information that we collect about your identity as “Registration Data or KYC Data.”

2.2. In addition, at any time before or after your Account has been opened, you may be requested to provide certain other information pursuant to our compliance program, policies and applicable law, including, if necessary, information that will enable us to report your tax information to the relevant authorities. If you fail to reply promptly to any request from us, or if your responses are unsatisfactory, we may close or suspend your Account and force you to liquidate our products in your ownership.

2.3. You agree to provide true, accurate, current and complete responses to our information requests, and you further agree to maintain and promptly update the information you have provided us, including the Registration Data, your contact information and any responses to requests from our Compliance Department, to keep it true, accurate, current and complete at all times while you are a Member. If you provide any information that is untrue, inaccurate, not current or incomplete, or if we or any of our authorized agents have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, we have the right to suspend or terminate your Account and refuse any and all current or future use of the Products, as applicable, and related Services by you, as well as subject you to civil liability or refer you to the appropriate law enforcement authorities for criminal prosecution. We shall not be liable to make any compensation, monetary or otherwise, following such suspension, termination or inability to use the Products, as applicable, or the related Services. You are responsible for any fees that the Company incurs with respect to your Account as a result of any of the foregoing.

2.4. You hereby authorize us, or a third-party service provider, to take any measures that we consider necessary to verify and authenticate your identity, confirm the information you submit about your bank (or other financial institution) account, and to take any action we deem necessary based on the results.

2.5. While we use reasonable efforts to protect your Registration Data from inadvertent release or misappropriation, we are not responsible for the intentional or criminal acts of third parties such as hackers or “phishers” that are out of our control.

2.6. By using the Products and the Services, you agree that the Security Procedures described in this Agreement are commercially reasonable for the size, amount and frequency of your transactions. You further agree that the Security Procedures described in this Agreement are used to verify the authenticity of your orders or other instructions, but not to detect errors in any order or other instruction you transmit.

2.7. In order to log into your Account, you will be required to provide your member name and password, and potentially an auto-generated verification code that is sent to your smartphone, which we refer to as “2FA”; provided that Members accessing the Account via an application programming interface or “API” connection will be validated solely by API key (collectively, “Security Procedures”). In some cases, in our sole discretion, we may require additional verbal, paper or electronic confirmation of a transaction prior to processing such transaction.

2.8. You are responsible for maintaining the security and confidentiality of your member name, password, 2FA device, as applicable. You agree to notify us immediately of any unauthorized use of your member name, password, 2FA device or API key as well as of any other breach of security. If you choose to install and use a 2FA application on a device on which the operating system has been tampered with in any way, you do so at your own risk. 2FA applications are provided by third parties, and we do not take any responsibility for such third-party applications.

2.9. While we may implement certain monitoring procedures designed to alert us to fraudulent activity, we are not responsible for any unauthorized use of your Account, and we will not be liable for any loss that you may incur as a result of someone accessing your Account, either with or without your knowledge. We disclaim any and all liability arising from fraudulent entry and use of the Products, and the Services (including, but not limited to, liabilities arising from unauthorized activity undertaken through your accounts associated blockchain wallet). If someone fraudulently obtains access to your account or associated blockchain wallet, we will take such action as we determine to be warranted, including without limitation, terminating your access and/or membership immediately, freezing our issued assets, and taking all necessary and appropriate actions under applicable international, federal, state, provincial and local laws.

2.10. You may not transfer, lease, assign or sell your Account (or any use thereof) to a third party without the consent of the Company. In addition, you may not grant any person access to your Account except as expressly permitted herein.

2.11. You may close your Account by providing written notice to us, and upon receipt of such notice. After notifying us of your desire to close your Account, we may terminate your ability to transact in your Account and only permit you to withdraw the remaining available funds associated with your Account. Closing your Account will not affect any rights and obligations incurred prior to the date of Account closure. All currencies appearing in the Product’s ledger and attributed to you must be withdrawn or otherwise sold or transferred before the closing of your Account will be finalized.

2.12. Suspension and termination of your membership and account

Without limiting other remedies that may be available to us, we reserve the right, in our sole and absolute discretion, to block access to or to suspend, close or terminate your Account, to freeze all crypto-assets in your Account that we have access to, and to refuse access to underlying physical assets, at any time, with or without advance notice, if:

2.12.1. you have been accused of (including any reasonably documented media reports or market rumors on): fraud, terrorist financing, money laundering, tax fraud, or any other breach or violation of relevant criminal, administrative or tax laws in any country of the world, being part of a Ponzi scheme of any kind, using matrix programmes/pyramid programmes/multi-level marketing or other high-risk business detrimental to customers of any kind (in particular if participating in a programme as set forth under item 13.v.); unlawful activity in any country of the world; forbidden gambling; intellectual property or proprietary rights infringement, counterfeit or unauthorised goods; using/distributing drugs and drug paraphernalia or substances designed to mimic illegal drugs; producing/distributing illegal pornography; using unfair, predatory or deceptive practice via customers or persons; etc.

2.12.2. MBX has been informed of official investigations (by any competent public authority, in particular but not limited to any public prosecutors in the field of criminal law or tax agents) against such Bitpanda Client with respect to fraud, terror financing, money laundering, tax fraud, or any breach or violation of relevant criminal, administrative or tax laws in any country of the world.

2.12.3. you breach obligations against us under this Agreement including all supplementing documents (e.g. any delayed payment or unauthentic verification documents) without curing said breach within 7 “Business Days”.

2.12.4. we have reasonable suspicion that you are directly or indirectly using our Site, the Products, the Services or the Materials in violation of applicable law or regulation, or this Agreement;

2.12.5. we are directed to do so by law enforcement, regulatory authority or court order;

2.12.6. we are required to do so by applicable law or regulation;

2.12.7. your Account is subject to pending litigation, investigation or governmental proceeding;

2.12.8. we believe that someone is attempting to gain unauthorized access to your Account;

2.12.9. we believe there is unusual activity in your Account; or

2.12.10. your Account has no funds and has not been accessed in the prior year.

2.13. For the avoidance of doubt, by agreeing to this Agreement, you will be bound to comply with the Marketplace Policy and Illegal Activity Policy and the terms therein.

2.14. We are not responsible for any loss of value in your Account, or of any crypto asset or fiat currency, resulting from the suspension or closing or your Account for any of the reasons listed above, including your violation of this Agreement or from any government seizure or forfeiture. You agree that neither the Company nor any third party acting on our behalf shall be liable to you for any termination of your access to any part of the Site, the Products or the Services in accordance with this Agreement.

2.15. You agree that if your access is terminated by us, you will not attempt to regain access to the Site, the Products, or the Services – using the same or different username or other attempted identification – without our prior written consent.

2.16. If we terminate your Account, we will return the assets in your Account to you, less the value of any damages to which we are entitled pursuant to this Agreement, subject to applicable law. You authorize us to return your funds (less damages to which we are entitled). You agree to provide bank account details to us within seven (7) calendar days of receiving notice of the closure so that we may remit your balance to you. If there is a balance of crypto assets remaining in your Account, you agree to provide us with an address within seven (7) calendar days of receiving notice of the closure so that we may remit the remaining crypto assets to you. In our sole discretion, and in any event if you fail to provide a crypto asset address as required by this section, you agree that we are permitted to sell any crypto assets on the open market at the prevailing market price and return the proceeds (less damages to which we are entitled) to any bank account linked to your Account. You agree that we will not be liable to you for any losses that you may incur as a result of such conversion of crypto assets to fiat currency in connection with the closure of your Account.

ARTICLE 3 - SERVICE INTERRUPTION

From time to time due to technological factors, scheduled software updates and the performance of other maintenance, as well as factors beyond or within our control, the Site, the Products, or other Services may be temporarily interrupted (“Downtime”). Information on scheduled maintenance windows can be found on our Site. Open orders and/or exchanges will be held during Downtime and processed normally following Downtime. Following any Downtime, market conditions and prices may differ significantly from conditions and prices prior to such Downtime.

ARTICLE 4 - AGREEMENT TO RECEIVE NOTIFICATIONS AND OTHER COMMUNICATIONS

We reserve the right to send electronic mail or other messages to you and to other Members for purposes of providing you information about your Account or the Services you receive. Please see our Privacy Policy regarding certain direct marketing.

ARTICLE 5 - RESTRICTIONS ON USE OF OUR SITE AND SERVICES

5.1. User Type

If you register with us as an individual User, you agree that you will use the Site, the Products, and the Services for your personal use only. If you register with us as an institutional user on behalf of an institution, you (a) represent that you are an authorized representative of such institution and that this Agreement is binding on such institution, and (b) agree that you will use the Site, the Products, and Services for commercial purposes only. In addition, you agree that any use of the Site, the Products, and the Services shall be for the purposes expressly permitted and contemplated by this Agreement. You may not use the Site, the Products, and the Services for any other purposes without our express prior written consent.

5.2. Restrictions on Use

Without our express prior written authorization, you may not:

5.2.1. Duplicate or reproduce any part of our Site, the Products, the Services or the Materials (except as expressly provided elsewhere in this Agreement);

5.2.2. Create any derivative works based on or using our Site, the Products, the Services, or the Materials, and you agree and stipulate that any and all derivative works are NOT “fair use;”

5.2.3. Use our Site, the Products, the Services or the Materials for any public display, public performance, sale or rental, and you hereby agree and stipulate that any and all such uses are NOT “fair use”;

5.2.4. Use our Market Data to develop, create, register, list, trade, clear, or settle any investment product or financial product of any kind;

5.2.5. Re-distribute our Site, the Products, the Services, or the Materials, and you hereby agree and stipulate that any and all such uses are NOT “fair use;”

5.2.6. Remove any copyright or other proprietary notices from our Site, the Products, the Services or the Materials; or, falsify or delete any author attributions, legal or other proper notices or labels of the origin or source material that is uploaded or otherwise provided by you;

5.2.7. Frame or utilize any framing techniques in connection with our Site, the Products, the Services or the Materials;

5.2.8. Translate, reverse-engineer, decompile or disassemble our Site, the Products, the Services or the Materials;

5.2.9. Use any meta-tags, pay-per-click advertising, or any other “hidden text” using our Site’s name or marks or those of the Products, and you hereby stipulate that any use of the Site’s name or marks, or any other marks owned by us is an infringement upon our trademark rights, and you stipulate to make payment of liquidated damages of five thousand United States dollars (US$5000) per such infringement as a genuine pre-estimate of the loss and damage that will be suffered by us as a result of such infringement, plus you agree to pay any and all fees incurred in the recovery of this amount, including attorney’s fees and all associated costs;

5.2.10. “Deep-link” to any page of the Site or the Products, or avoid accepting acknowledgement of this Agreement (for the avoidance of doubt, you may only link to the main entry page);

5.2.11. Circumvent any encryption or other security tools used anywhere on the Site or in conjunction with the Products or the Services (including the theft of usernames, passwords or API keys or using another person’s username, password or API key in order to gain access to a restricted area of the Site);

5.2.12. Use any data mining, bots, scrapers or similar data gathering and extraction tools on the Site or in conjunction with the Products, the Services or the Materials;

5.2.13. Sell, rent, lease, license, sublicense, transfer, distribute, re-transmit, time-share, use as a service bureau or otherwise assign to any third party the Materials (including our Market Data) or the Products or Services or any of your rights to access and use the Products, the Materials or Services as granted specifically by this Agreement;

5.2.14. Use our Products or Services to impersonate any other User or person;

5.2.15. Use any Materials (including the Market Data) or information on our Site or included in our Products or Services in any manner that infringes any copyright, trademark, patent, trade secret, publicity or other proprietary right of any party;

5.2.16. Use or duplicate the computer code underlying any MBXs’ Products, contrary to the license contained in each Product’s code repository;

5.2.17. Upload or attempt to upload files that contain viruses, Trojan horses, worms, time bombs, cancelbots, corrupted files, or any other similar software or programs that may damage the operation of ours or another’s property;

5.2.18. Upload, post, email or otherwise transmit to us any submission that you do not have a right to transmit under contractual, fiduciary or other relationships (such as inside information, trade secrets, proprietary and confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements);

5.2.19. Upload, post, email or otherwise transmit any unsolicited or unauthorized advertising, promotional materials, “junk mail,” “spam,” “chain letters,” “pyramid schemes,” or any other form of solicitation, except in those areas that we may designate for such purpose;

5.2.20. Restrict or inhibit any other User from using the Product or the Services;

5.2.21. Harvest or otherwise collect information about other users of the Site, the Product or the Services, including email addresses or other personally-identifiable information;

5.2.22. Violate any applicable laws, regulations or policies, or this Agreement;

5.2.23. Use the Products or the Services to pay for, support, receive proceeds from or otherwise engage in any illegal gambling activities;

5.2.24. Upload, post, email or otherwise transmit any material that is illegal, immoral, obscene or defamatory of any person;

5.2.25. Use any automatic device or manual process to monitor or reproduce the Site, the Services (including the Products) or the Materials, and will not use any device, software, computer code, or virus to interfere or attempt to disrupt or damage the Site, the Products, or Services; and

5.2.26. Do anything that may adversely affect proper operation of the Site, the Products, the Services and the reputation and goodwill of the Company.

ARTICLE 6 - DISCLAIMER OF WARRANTY

By using the Site, the Products, the Materials or the Services, you expressly acknowledge and agree that:

6.1. Such use of the Site, the Products, the Materials, and the Services is at your own and sole risk;

6.2. Any material and/or data downloaded or otherwise obtained through the use of the Site, the Products, the Services or any of the Materials is done at your own discretion and risk, and you are solely responsible for any damage to your computer system or loss of data that results from the download of such material and/or data;

6.3. The Site, the Products, the Services and the Materials and all materials contained therein, are provided “as is” without warranty of any kind, either express or implied, including, but not limited to, any implied warranties of merchantability, fitness for a particular purpose, title, or non-infringement;

6.4. MBX makes no representations or warranties that the Site, the Products, the Materials and Services, or any materials contained therein, will be uninterrupted, timely, secure, or error-free; nor does MBX make any representations or warranties as to the quality, suitability, truth, usefulness, accuracy, or completeness of the Site, the Products, the Materials, and the Services or any of the materials contained therein;

6.5. MBX cannot guarantee or warrant that files available for downloading from the Internet will be free of viruses, worms, Trojan horses, or other code that may manifest contaminating or destructive properties; and, MBX does not assume any responsibility or risk for your use of the Internet in connection with the Site, the Products, the Materials, the Services and any materials contained therein;

6.6. MBX makes no warranty, express or implied, regarding any transaction entered into through the Site, the Products, or the Services;

6.7. MBX is NOT responsible for any crypto-asset market, and MBX makes no representations or warranties concerning the value of any crypto-asset, including those issued by us;

6.8. MBX makes no warranty, express or implied, regarding the availability of the Site, the Products, or the Services, and shall have no liability for any loss or damage arising from Downtime; and

6.9. The value of crypto assets can be volatile and the Company is not in any way responsible or liable for any losses you may incur by holding or trading crypto assets (including those issued by us), even if the Site, the Products or the Services are delayed, suspended, or interrupted for any reason.

6.10. The warranties and representations expressly set forth in this Agreement are the only warranties and representations made by MBX with respect to this Agreement, the Site, the Products, the Materials and the Services, and are in lieu of any and all other warranties, written or oral, express or implied, that may arise either by agreement between the Parties or by operation of law or otherwise, including warranties of merchantability and fitness for a particular purpose, which are excluded to the fullest extent permitted by applicable laws. None of these warranties and representations will extend to any third person.

ARTICLE 7 – INDEMNIFICATION, RELEASE AND LIMITATION OF LIABILITY

7.1. Indemnification

To the maximum extent permitted by applicable law, you agree to defend, indemnify, and hold harmless the Company, its parent company, affiliates and subsidiaries and each of their respective officers, directors, shareholders, members, partners, attorneys, employees, independent contractors, telecommunication providers, and agents (collectively, the “Indemnified Parties”), from and against any and all claims (including third-party claims), actions, loss, liabilities, expenses, costs, or demands, including, without limitation, legal and accounting fees (collectively, “Losses”), directly or indirectly, resulting from or by reason of (i) your (or you under another person’s authority) use, misuse, or inability to use the Site, the Products, the Services, or the Materials; (ii) any regulatory inquiry, legal action, litigation, dispute or investigation related to your Account and to your use of your Account, the Products, or the Services; or (iii) your breach of this Agreement.

The Company shall notify you by electronic mail, mail, or other appropriate means, of any such claim or suit, and reasonably cooperate (at your expense) in the defense of such claim or suit. We reserve the right to participate in the defense of such claim or choose our own legal counsel but are not obligated to do so.

7.2. Release

To the maximum extent permitted by applicable law, you hereby discharge, acquit, and otherwise release the Indemnified Parties, from any and all allegations, counts, charges, debts, causes of action, claims and Losses, relating in any way to the use of the Site, the Products, the Service or the Materials, including, but not limited to, claims relating to the following: negligence, gross negligence, intentional interference with contract or advantageous business relationship, defamation, privacy, publicity, misrepresentation, any financial loss not due to the fault of the Site, the Materials or the Products, false identities, fraudulent acts by others, invasion of privacy, release or misuse of personal information, failed transactions, purchases or functionality of the Site, unavailability of the Site, its functions and/or the Services and any other technical failure that may result in inaccessibility to the Site, the Products, the Materials or the Services, or any claim based on vicarious liability for torts committed by Users encountered or transacted with or through the Site, the Products or the Services, including, but not limited to, fraud, computer hacking, theft or misuse of personal information, assault, battery, stalking, rape, cheating, perjury, manslaughter, or murder.

The above list is intended to be illustrative only, and not exhaustive of the types or categories of claims released by you. This release is intended by the Parties to be interpreted broadly in favor of MBX, and thus any ambiguity shall be interpreted in a manner providing release of the broadest claims. This release is intended to be a full release of claims, and the parties acknowledge the legally binding nature of this provision, and the nature of the rights given up in connection therewith.

If you are a California resident, you hereby waive California Civil Code Section 1542, which states:

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

If you are a resident of another jurisdiction with a comparable statute or doctrine, you hereby waive such statute or doctrine to the extent permissible under applicable law.

7.3. Limitation of Liability

Except to the extent prohibited by applicable laws, in no event shall MBX (or its licensors, agents, suppliers, resellers, service providers, or any other subscribers or suppliers) be liable to you, or any other third party, for any direct, special, indirect, incidental, consequential, exemplary, or punitive damages, including without limitation, damages for loss of profits, loss of information, business interruption, loss of revenue, or loss of goodwill, which may arise from any person’s use, misuse, or inability to use the Site, the Products, the Services, the Materials or any of the materials contained therein, including any loss caused in whole or in part by any inaccuracies, incompleteness or delays in Market Data, interruptions in the Services, including the Products, even if we have been advised of the probability of such damages and regardless of whether such liability is asserted on the basis of contract, tort or otherwise.

We will not be liable for any damage or interruptions caused by any computer viruses, spyware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. You are responsible for maintaining the security of your environment, including regular use of malware screening and prevention software. You should also be aware that email and other communication services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from MBX. Always log into your Account through our Site or contact us if you have any uncertainty regarding the authenticity of any communication or notice.

7.4. Force Majeure

Neither we (nor any bank where our deposit accounts are held) will be liable for our failure to perform any obligations under this Agreement due to events beyond our control, and the time provided for performing such obligations shall be extended by a period of time equal to the duration of such events. Events beyond our control include, but are not limited to, acts of God, war, riot, arson, embargoes, civil commotion, strikes, labor disputes, equipment failures, bank failures, crypto asset market collapse or fluctuations, fiat currency conversion rate fluctuations, fire, flood, earthquake, hurricanes, tropical storms or other natural disaster or casualty, shortages of labor or material, shortage of transportation, facilities, fuel, energy, pandemic, government regulation or restriction, acts of civil or military authority or terrorism, fiber cuts, weather conditions, breaches or failures to perform by third parties, technical problems, including hardware and software crashes and other malfunctions, failure of the telecommunications or information services infrastructure, hacking, SPAM or failure of any computer, server or software disruptions on account of or caused by vandalism, theft, phone service outages, power outage, Internet disruptions, viruses, and mechanical, power or communications failures.

If any law, regulation, rule, regulation or decision of any self-regulatory organization, or ordinance, whether international, federal, state, or local, becomes effective which substantially alters our ability to offer the Site, the Products or the Services hereunder, we shall have the right to cancel this Agreement, with notice, if reasonably possible, effective upon the earlier of (i) the date upon which we are unable to provide our Services hereunder; or (ii) thirty (30) days following notice.

7.5. Maximum Liability

In no event shall our maximum total aggregate liability hereunder for direct damages exceed the total fees actually paid by you for use of the Site, the Products or the Services for a period of more than three (3) months from the accrual of the applicable cause or causes of action. Because some jurisdictions prohibit the exclusion or limitation of liability for consequential or incidental damages, the above limitation may not apply to you (in whole or in part).

7.6. Right of Set Off

To the extent allowable by law (and possible on the blockchain), we reserve the right to set-off any damages or amounts owed to us by you for your breach of this Agreement, your indemnification obligations, or for your other obligations under this Agreement against funds in your Account (including, without limitation, transaction fees, funds transfer fees and dormancy fees).

ARTICLE 8 - CONFIDENTIALITY AND COMPLIANCE WITH LEGAL PROCESS

8.1. Permitted Disclosure

We may share information concerning you and your Account:

8.1.1. with our banks and other financial institutions that we use or may use to process funds in connection with the Products and the Services;

8.1.2. with law enforcement, regulatory authorities, tax authorities (including the US Internal Revenue Service pursuant to the Foreign Account Tax Compliance Act, to the extent this applies), self-regulatory organizations (such as those that operate crypto asset derivative exchanges) and officials, or other third parties when we are compelled to do so by a subpoena, court order, or similar legal procedure, or when we believe in good faith that the disclosure of your information is necessary to prevent physical harm or financial loss, to report suspected illegal activity or to investigate violations of this Agreement or any other applicable policies;

8.1.3. with third parties, such as vendors, agents, contractors and our advisors (e.g., legal, financial, business or other advisors), in order to administer our services, including to verify your identity and conduct screening and due diligence checks;

8.1.4. in connection with a merger, acquisition or otherwise as set forth in Section 18.1; or

8.1.5. as permitted or required by applicable law.

Please refer to our Privacy Policy for more information on the use of your personal information.

8.2. Legal Process

You agree and understand that we may comply with any writ of attachment, execution, garnishment, tax levy, restraining order, subpoena, warrant or other legal process, that we in good faith believe to be valid. We may, but are not required to, notify you of such process. We may charge you for associated costs, including attorneys’ fees. You agree that we may honor any legal process, regardless of the method or location of service.

ARTICLE 9 - LINKS AND LINKING

9.1. Third Party Links

Some websites that are linked to or from the Site are owned and operated by third parties. Because we have no control over such websites and resources, you understand, acknowledge and agree that we are not responsible or liable for the availability of such external websites or resources, and do not screen or endorse such websites or the content, products, advertising or other materials presented therein, and are not responsible or liable for any such content, advertising, services, products, or other materials on or available from such websites or resources.

Use of any website controlled, owned or operated by third parties is governed by the terms and conditions of use (including privacy policies) for those websites, and not by this Agreement or our Privacy Policy, which is incorporated into this Agreement by reference.

We reserve the right to terminate any link or linking program at any time.

9.2. No Liability; Indemnification

You further understand, acknowledge and agree that we shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by, or in connection with use of or reliance on, any such third-party content, goods or services available on or through any such website or resource. If you decide to access any such third-party website, you do so entirely at your own risk and subject to any terms and conditions and privacy policies posted therein.

You hereby agree to defend and hold harmless each of the Indemnified Parties from and against any and all Losses that may result from your use of links that may appear on the Site or via the Services.

ARTICLE 10 - INTELLECTUAL PROPERTY

10.1. Trademarks

None of the marks, logos, domains, and trademarks that you find on the Site, the Products, the Services or in the Materials may be used publicly except with express written permission from MBX and may not be used in any manner that is likely to cause confusion among consumers, or in any manner that disparages or discredits MBX.

10.2. Other Marks

Other manufacturers’ product and service names referenced on the Site, the Products, the Services and the Materials may be trademarks and service marks of their respective companies and are the exclusive property of such respective owners and may not be used publicly without the express written consent of the owners and/or holders of such trademarks and service marks. You acknowledge and agree that we either own or have been authorized by relevant third-party intellectual property owners to use the trademarks, copyright, patents, design and intellectual property of any nature and form found on the Site and the Services.

10.3. Copyright

The Materials (including the Market Data) accessible from the Site, the Products, and the Services, and any other website owned, operated, licensed, or controlled by us are our proprietary information and valuable intellectual property and we retain all right, title, and interest in such Materials. No rights, title or interest in any such Materials are transferred to you by reason of the access to the Site, the Products, or the Services.

All Materials, such as text, graphics, photographs, video and audio clips, music, soundtracks, button icons, streaming data, animation, images, downloadable materials, data compilations and software are the property of the Company or its content suppliers and are protected by United States and international copyright laws. The compilation of all Materials on the Site and in the Products and the Services is the exclusive property of the Company or its content suppliers and protected by United States and international copyright laws, as well as other laws and regulations.

The Exchange’s Market Data is valuable to us, and to the extent that you receive access to such data, you hereby understand, acknowledge and agree that the Market Data contains proprietary and confidential information that is protected by applicable intellectual property and other laws, and is the sole property of the Company. The restrictions on use contained in Section 8.2 of this Agreement shall apply with equal force and scope to the Market Data as to the Site, any of the other Services, the Exchange and the Materials. Any distribution, publication, or transmission of our Market Data without the Company’s consent is a material breach of this Agreement and a violation of our property rights for which we may seek appropriate legal recourse.

ARTICLE 11 - EXPORT CONTROL

You understand, acknowledge, and agree that some of the products and services may be subject to regulation by agencies of the European Union and the Turkish Republic, which prohibits export or diversion of products and services to certain countries and third parties. Diversion of such materials contrary to the laws, or any international, provincial, state or other applicable law is prohibited. You will not assist or participate in any such diversion or other violation of applicable laws and regulations. You agree that none of the Products, the Services, the Materials or virtual currencies are being or will be used, acquired for, shipped, transferred, or re-exported, directly or indirectly, to proscribed or embargoed countries or their nationals or be used for proscribed activities.

MBX reserves the right to exclude any sanctioned parties from using the products and services, the site and the platform.

ARTICLE 12 – CUSTOMER RESTRICTIONS

Due to financial regulations, we are restricted in who we can accept as customers and investors. Please refer to our Whitelist Policy for more information. MBX reserves the right to reject any party that it cannot accept due to applicable financial regulations such as securities and prospectus law. For example, persons having US citizenship or being located in the United States may not become a MBX Client according to regulatory reasons. Depending on the respective local regulatory framework MBX may exclude other jurisdictions from MBX's services as well.

ARTICLE 13 - NOTICE

13.1. Notice

Any notice we are required to give you under this Agreement may be provided by email, postal mail, or facsimile utilizing the contact information provided by you when you registered with the Site and/or the Products. Notices from you to us shall be given by email to: [email protected], unless otherwise specified in the Agreement.

13.2. Change of Address

Either party may change the address to which notice is to be sent by written notice to the other party pursuant to this provision of the Agreement.

13.3. When Notice is Effective

Notices shall be deemed effective upon delivery. Notices delivered by nationally recognized overnight carrier shall be deemed delivered on the business day following mailing. Notices mailed by United States Mail, postage prepaid, registered or certified with return receipt requested, shall be deemed delivered five (5) days after mailing. Notices by email and facsimile transmission, with confirmation from the transmitting machine that the transmission was completed, are acceptable under this Agreement provided that they are deemed delivered one (1) hour after transmission if sent during the recipient’s business hours, or otherwise at 9:00 a.m. (recipient’s time) the next business day. Notices delivered by posting on the Site shall be deemed delivered upon posting. Notices delivered by any other method shall be deemed given upon receipt. Either party may, by giving the other party appropriate written notice, change the designated address, fax number and/or recipient for any notice or courtesy copy, hereunder.

13.4. Refused, Unclaimed, or Undeliverable Notice

Any correctly addressed notice that is refused, unclaimed or undeliverable shall be deemed effective as of the first date that said notice was refused or deemed undeliverable by the postal authorities, messenger, facsimile machine, email server or service provider, or overnight delivery service.

13.5. Confidentiality of Communications

We do not provide any facility for sending or receiving private or confidential electronic communications. Visitors should not use this Site or Services (including the Products) to transmit any communication for which the sender intends only the sender and the intended recipient(s) to read. Notice is hereby given that all messages and other content entered into this Site or Services can and may be read by the agents and operators of the Site or Services, regardless of whether they are the intended recipients of such messages. User should not have an expectation of privacy regarding any communications sent through this Site or the Services.

ARTICLE 14 - ARBITRATION; STATUTE OF LIMITATIONS

14.1. Arbitration

If a dispute arises between the parties arising out of or otherwise relating to this Agreement, the parties shall meet and negotiate in good faith to attempt to resolve the dispute. If the parties are unable to resolve the dispute through direct negotiations, then, except as otherwise provided herein, either party must submit the issue to binding arbitration in accordance with the applicable Arbitration Ordinance. Claims subject to arbitration (“Arbitral Claims”) shall include, but are not limited to, contract and tort claims of all kinds, and all claims based on any federal, state or local law, statute, or regulation, excepting only claims by us under applicable worker’s compensation law, unemployment insurance claims, along with actions (regardless of the underlying cause of action) by us seeking injunctions, attachment, garnishment, and other equitable relief. You agree to arbitrate solely on an individual basis, and understand, acknowledge and agree that this Agreement does not permit class arbitration or any claims of any type brought as a plaintiff or class member in any class or representative arbitration proceeding.

Any dispute, controversy, or claim arising out of, or in relation to, this contract, including regarding the validity, invalidity, breach or termination thereof, shall be resolved by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss Arbitration Centre in force on the date on which the Notice of Arbitration is submitted in accordance with those Rules.

The number of arbitrators shall be three (3);

The seat of the arbitration shall be Zurich;

The arbitral proceedings shall be conducted in German.

The dispute shall be decided on the basis of documentary evidence only.

Notwithstanding the above, the parties may agree at any time to submit the dispute to mediation in accordance with the Swiss Rules of Mediation of the Swiss Arbitration Centre.

An arbitral decision may be enforced in any court, and a prevailing party in any action or proceeding to enforce this Agreement shall be entitled to costs and attorney’s fees.

The Arbitrator shall have no authority to award any punitive or exemplary damages, certify a class action (or join the claims of one party with any other party), add any parties, or vary or ignore the provisions of this Agreement. The arbitrator shall render a written opinion setting forth all material facts and the basis of his or her decision within thirty (30) days of the conclusion of the arbitration proceeding.

If for any reason this arbitration clause is not applicable or litigation proceeds in court, then you agree that:

(i) You may bring claims against the Company only in your individual capacity and not as a plaintiff or class member in any purported class or representative action; and

(ii) to the fullest extent permitted by applicable laws and regulations, you hereby irrevocably waive all right to trial by jury as to any issue in any action, proceeding, or counterclaim arising out of or relating to this agreement or any other matter involving us arising out of the site, or services and products.

14.2. No Waiver of Right to Arbitration

There shall be no waiver of the right to arbitration unless such waiver is provided affirmatively and in writing by the waiving party to the other party. There shall be no implied waiver of this right to arbitration. No acts, including the filing of litigation, shall be construed as a waiver or a repudiation of the right to arbitrate.

14.3. Waiver of Statute of Limitations

Notwithstanding the period of limitation prescribed by applicable laws for the bringing of any relevant action or claim [and except as otherwise provided in Section 3.5, the Parties hereby mutually agree that no action, regardless of form, arising out of or in conjunction with the subject matter of this Agreement, except for claims involving intellectual property, claims to recover outstanding amounts due to us and claims for indemnification, may be brought by any party more than one (1) year after the cause of action arose, following which either party shall have no further claim whatsoever against the other party.

ARTICLE 15 - RIGHT TO INJUNCTIVE RELIEF

You agree that due to the nature of our business, monetary damages for a breach of your obligations under this Agreement would be inadequate to compensate us. Accordingly, you agree and understand that any violation or threatened violation by you of your obligations under this Agreement will cause irreparable injury to us and that, in addition to any other remedies that may be available, in law, in equity or otherwise, we will be entitled to obtain injunctive relief against any threatened breach of this Agreement or the continuation of such breach without the necessity of proving actual damages.

ARTICLE 16 - MISCELLANEOUS PROVISIONS

16.1. Assignment

Neither this Agreement, nor any of your rights and obligations hereunder, may be transferred by you, but may be assigned by us without restriction. Any attempted transfer or assignment by you in violation hereof shall be null and void. This Agreement shall be binding and inure to the benefit of the parties hereto, our successors, and permitted assigns.

In the event that we are acquired by or merged with a third-party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control. See also our Privacy Policy for additional information.

16.2. Severability

If for any reason a court of competent jurisdiction or an arbitrator finds any provision of this Agreement, or any portion thereof, to be invalid, unenforceable or illegal, such invalidity, unenforceability or illegality shall not affect the remainder of this Agreement, which will continue to be in full force and effect, and any prior, effective provision of the Agreement that was superseded by such invalid, unenforceable or illegal provision shall be deemed valid and enforceable to the fullest extent.

16.3. No Waiver

No waiver or action made by us shall be deemed a waiver of any subsequent default of the same provision of this Agreement. No failure or delay in exercising or enforcing any privilege, right, remedy, or power hereunder shall be deemed a waiver of such provision by us. All waivers must be in writing.

16.4. Headings

All headings are solely for the convenience of reference and shall not affect the meaning, construction or effect of this Agreement.

16.5. Complete Agreement

This Agreement, together with the MBX Contractual Documentation constitutes the entire agreement between the parties with respect to your access and use of the Site, the Products, the Services, the Materials (including the Market Data) and the materials contained therein. This Agreement, together with our Privacy Policy, supersedes and replaces all prior understandings or agreements, written or oral, regarding such subject matter.

16.6. Other Jurisdictions

We make no representation that the Site, the Products, the Services, the Materials (including the Market Data) or any of the materials contained therein are appropriate or available for use in other locations, and access to them from territories where their content or function may be illegal or is otherwise prohibited. Those who choose to access the Site, the Products, the Services and the Materials from such locations do so on their own initiative and are solely responsible for determining compliance with all applicable local laws.

16.7. Survival

All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including without limitation, sections pertaining to suspension or termination, debts owed, general use of the Products, or the Services, disputes with us, and general provisions, shall survive the termination or expiration of this Agreement.

16.8. No Agency Relationship

Nothing in this Agreement shall be deemed to constitute, create, imply, give effect to, or otherwise recognize a partnership, employment, joint venture, or formal business entity of any kind; and the rights and obligations of the Parties shall be limited to those expressly set forth herein. We are not your agent or other representative , except to the extent that you use the Exchange, which allows Members to trade crypto assets, with the Exchange acting in an Agency capacity; or in connection with over-the-counter (“OTC”) trading services, where we act as an agent of each counterparty in negotiating OTC purchase and sale transactions, and where MBX may, from time to time and with explicit disclosure in specific circumstances.

ARTICLE 17 - COMPLAINTS

If you would like to contact us with a complaint, please contact Customer Support using one of the following methods:

Email [email protected] using the email address associated with your account.

Risks Disclaimer

This section highlights certain risks that we would like to bring to your attention before you use our products and services. The risks highlighted in this section are not meant to be exhaustive and are set out for your consideration only.

You acknowledge and agree that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of those risks for you in light of your circumstances and financial resources. MBX Group does not give advice or recommendations regarding crypto assets, including the suitability and appropriateness of, and investment strategies for, crypto assets. You should be aware that you may sustain a total loss of the assets in your Account over a short period of time, and that under certain market conditions, you may find it difficult or impossible to liquidate a position.

MBX Group is not giving tax advice, legal advice or other professional advice by allowing you to use the Site, the Products, or the Services. No Material on our Site, including FAQs or blogs, shall be considered tax advice, legal advice or investment advice.

Technical Risk. We generally do not own or control the underlying software protocols of crypto asset networks that govern the operation of crypto assets. In general, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them. We are not responsible for the operation of the underlying network protocols, and we make no guarantees regarding their security, functionality, or availability (does not apply to MBX Chain). Crypto asset blockchains may “fork” and we may not support the forked asset promptly or at all (does not apply to MBX Chain).

Market Risk.

Crypto

The price and liquidity of crypto assets has been subject to large fluctuations in the past and may be subject to large fluctuations in the future. The value of e-commodities and other digital tokens depends on the demand and supply (liquidity) in the markets. As the risk of loss can be substantial, you should exercise caution and carefully consider whether purchasing and/or holding e-commodities and digital tokens are suitable for you in light of your financial condition. The volatility and unpredictability of the price of crypto assets relative to fiat currency may result in significant loss over a short period of time.

Metals

Every investment comes with its own set of risks. Although precious metals may come with a certain degree of security (especially in relation to cryptocurrencies), there is always a risk that comes with investing in precious metals. Prices for metals can drop due to technical imbalances (more sellers than buyers).

Transaction Risk. Generally, transactions in digital tokens are irreversible and losses due to erroneous or fraudulent transactions may not be recoverable. Transactions in digital tokens on public blockchains are also generally anonymous, which may make it difficult to identify malicious actors. Completing transactions of digital tokens may also depend on the number of pending transactions on the Protocols on which they run. If the Ethereum blockchain (or most other blockchains) is congested, your transactions, including any Primary Purchases and/or Redemptions, may be delayed for an undetermined period of time. Such risk of delay may increase in the event more smart contracts are on the Ethereum blockchain.

Custody Risk. In the event your digital tokens are stored using third-party wallet providers, custody services and/or exchanges ("Third-Party Custody Services"), losses may occur in the form of theft, hacks, unauthorised disclosures and/or other compromises affecting the underlying infrastructure of such Third-Party Custody Services. You may also lose access to your digital tokens if you do not have security over your private key or if the operations of the Third-Party Custody Services are suspended or ceased. Events that occur in relation to such Third-Party Custody Services are not within our control and we are not under any obligation to assist, or may not be able to assist, in the event you suffer from losses due to compromises affecting the security of such Third-Party Custody Services. You should take utmost care in the custody of your private key. PLEASE NOTE THAT WE WILL NEVER ASK YOU, FOR ANY REASON, WHETHER BY EMAIL, REGULAR MAIL OR TELEPHONE, TO DISCLOSE YOUR PRIVATE KEY.

Regulatory Risk. Regulatory frameworks and regimes in relation to virtual currencies and digital tokens are in constant development and may differ based on jurisdiction. Markets and/or exchanges may not be regulated by any regulatory authority. Also, it is possible that your access and/or use of our Platform may be limited by and subject to, now or in the future, such laws, rules and regulations and the relevant amendments thereto, from time to time, and that the Company may not be regulated as a financial institution or equivalent in your jurisdiction.

By using our Platform, you acknowledge that you understand the costs, risks and/or losses which may occur pursuant to your use, and agree that you shall access and use the site, the products, and the services at your own risk. We are not responsible for any loss or damage incurred by you as a result of your use of the site, the products, or the services or for your failure to understand the nature of crypto assets, including our products.

Whitelist Policy (Who can invest in MBX E-Commodities?)

Attention! You might be restricted to participate in the Pre-Sale of MBX E-Commodities due to the laws and regulations of the jurisdiction you reside in. Please use this page or contact us to inform yourself if you are eligible for MBX E-Commodities.

1. Non-qualified Investors:

MBX can accept everyone purchasing an amount above 100.000 EUR (200.000 EUR for people residing in Germany), and 150 non-qualified Investors per EEA Country except for Germany (higher purchase amounts will be prioritized). Complete KYC and contact us to find out if there are still slots available for your country.

2. Qualified (professional) investors

Clients that automatically classify as professional investors are accepted.

... and those that can opt-in to be treated as such:

MBX may be allowed to treat any of those clients as professionals provided the relevant criteria and procedure mentioned below are fulfilled.

Any such waiver of the protection afforded by the standard conduct of business regime shall be considered to be valid only if an adequate assessment of the expertise, experience and knowledge of the client, undertaken by the investment firm, gives reasonable assurance, in light of the nature of the transactions or services envisaged, that the client is capable of making investment decisions and understanding the risks involved.

In the case of small entities, the person subject to that assessment shall be the person authorised to carry out transactions on behalf of the entity.

In the course of that assessment, as a minimum, two of the following criteria shall be satisfied:

- the client has carried out transactions, in significant size, in commodity markets at an average frequency of 10 per quarter over the past year,
- the size of the client’s financial instrument portfolio, defined as including cash deposits and financial instruments exceeds EUR 500 000,
- the client works or has worked in the financial sector, commodity trade sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.

Procedure:

Those clients may waive the benefit of the detailed rules of conduct only where the following procedure is followed:

1. You must state in writing to MBX Group that they wish to be treated as a professional client,
2. MBX Group must give you a clear written warning of the protections and investor compensation rights they may lose,
3. You must state in writing, in a separate document from the contract, that you are aware of the consequences of losing such protections.

Before deciding to accept any request for waiver, investment firms must be required to take all reasonable steps to ensure that the client requesting to be treated as a professional client meets the relevant requirements stated in Section II.1.

Professional clients are responsible for keeping MBX Group informed about any change, which could affect their current categorisation. Should MBX Group become aware that the client no longer fulfils the initial conditions, which made him eligible for professional treatment, we must take appropriate action.

To access MBX Products you must request to be treated as a professional client after KYC from your account page. MBX E-Commodities currently can only be accessed from Russia by qualified investors and professional clients. If you are not a professional client or do not already have qualified investor status in Russia, you may be recognized as a qualified investor if you satisfy any of the following criteria:

a. Hold securities and/or financial derivative contracts entered into for the account of the client, with a total value/total liabilities no less than RUB 6,000,000, that meet statutory requirements. Financial instruments put by the individual into a trust are also included in the calculation of total value/total liabilities.

b. Have work experience in a Russian and/or foreign organization that has transacted in securities and/or entered into financial derivative contracts:

no less than two (2) years if such organization(s) is (are) a qualified investor(s) under the Federal Law On the Securities Market;
no less than three (3) years in other cases.

The work experience review will take account of the work performed in the five (5) years preceding the date of filing an application to be recognized as a qualified investor and directly associated with financial instrument transactions, including trade decision-making, preparation of relevant recommendations, transaction control, financial market analysis, risk management.

c. Entered into securities transactions and/or financial derivative contracts at an average frequency of at least ten per quarter, but no less frequently than once a month, over the previous four quarters, the total value of such transactions and/or contracts being no less than RUB 6,000,000.

d. The value of assets owned by you is no less than RUB 6,000,000. Such assets will only include the following:

money in the accounts and/or on deposits opened at credit organizations in accordance with the Bank of Russia's regulations, and/or at foreign banks registered in the countries listed in subparagraphs 1 and 2 of paragraph 2 of article 51.1 of the Federal Law "On the Securities Market", and accrued interest;
claims to a credit organization to pay the cash equivalent of a precious metal at the book price of such precious metal;
securities that meet statutory requirements, including those put by the individual into a trust.

e. Have a higher education degree in economics as evidenced by an official Russian higher education qualification document issued by a higher professional education institution which, at the time of document issue, carried out the certification of individuals in the sphere of professional activity in the securities market; or hold any of the following qualifications or certificates: certified financial markets specialist, certified auditor, certified insurance actuary, Chartered Financial Analyst (CFA), Certified International Analyst (CIIA), Financial Risk Manager (FRM).

In Canada, MBX E-Commodities can be accessed by clients who classify as accredited investors without restrictions, and by others who do not classify as accredited investors under restrictions.

What are the restrictions for others?

All clients can purchase up to $10,000 within 12 Months. To remove the restriction please request accreditation from your account page.

Who classifies as an accredited investor?

Accredited investors are persons with:

- Net income before taxes of more than $200,000 in each of the two most recent calendar years and expected net income of more than $200,000 in the current calendar year.
- Net income before taxes combined with a spouse of more than $300,000 in each of the two most recent calendar years and expected combined net income of more than $300,000 in the current calendar year.
- Financial assets, alone or with a spouse, of at least $1 million before taxes but net of related liabilities. Financial assets include cash and bank deposits but not the value of a house.
- Net assets, alone or with a spouse of at least $5 million. Net assets generally include all of your assets after subtracting your debt.

Companies can purchase MBX E-commodities regardless of client category from a minimum of $150,000 and upward.

($ = Canadian Dollar)

To access MBX Products you must request to be treated as a sophisticated or professional client after KYC from your account page. MBX E-Commodities currently can only be accessed from Australia by sophisticated and professional clients.

A “sophisticated investor” is defined as a person who:

- has net assets of at least $2.5 million or has a gross income of at least $250,000 per annum for the last two financial years; or
- who pays a minimum of $500,000 for the offered securities.

An individual’s assets or income must be evidenced by a certificate given by a qualified accountant no earlier than 6 months before the offer is made.

“Professional clients” may also participate. While there are a number of categories of professional clients. Please complete KYC and contact us for more information.

($ = Australian Dollar)

To access MBX Products you must request to be treated as a sophisticated or professional client after KYC from your account page. Residents of Hong Kong currently can only access MBX E-Commodities if they classify as professional clients.

A “professional investor” is defined as:

1. Clients purchasing a minimum of HK$500,000 per transaction

2. Individuals, either alone or with any of his associates on joint account, having an investment portfolio of not less than HK$8,000,000.

3. Trust corporations having been entrusted under the trust or trusts of which it acts as a trustee with total assets of not less than HK$40,000,000.

4. Corporations or partnerships having a portfolio or not less than HK$8,000,000 or total assets of not less than HK$40,000,000.

5. Corporation whose sole business is to hold investments and which is wholly owned by an individual who, either alone or with any of his associates on a joint account, has an investment portfolio of not less than HK$8,000,000.

6. An exchange company, clearing house, exchange controller or investor compensation company recognised as such under the SFO, or a person authorised to provide automated trading services under Section 95(2) of the SFO.

7. An intermediary (i.e. a corporation licensed under the SFO to conduct any regulated activity), or a person carrying on the business of providing investment services which is regulated under the law of any place outside Hong Kong.

8. An authorised financial institution (i.e. a bank, restricted licence bank or deposit taking company authorised under the Banking Ordinance (Cap. 155 of Hong Kong)), or a bank which is not an authorised financial institution but is regulated under the law of any place outside Hong Kong.

9. An insurer authorised under the Insurance Companies Ordinance (Cap. 41) of Hong Kong, or a person carrying on insurance business and regulated under the law of any place outside Hong Kong.

10. (i) A collective investment scheme authorised under Section 104 of the SFO; or (ii) A scheme which is similarly constituted under the law of any place outside Hong Kong and, if it is regulated under the law of that place, is permitted to be operated under that law, or a person who operates such scheme.

11. A registered scheme as defined in Section 2(1) of the Mandatory Provident Fund Schemes Ordinance (Cap. 485) of Hong Kong, or its constituent fund as defined in Section 2 of the Mandatory Provident Fund Schemes (General) Regulation, or a person who, in relation to any such registered scheme, is an approved trustee or service provider as defined in Section 2(1) of that ordinance, or who is an investment manager of any such registered scheme or constituent fund.

12. (i) A registered scheme as defined in Section 2(1) of the Occupational Retirement Schemes Ordinance (Cap. 426) of Hong Kong; or (ii) An offshore scheme as defined in Section 2(1) of that ordinance which, if regulated under the law of the place where it is domiciled, is permitted to be operated under the law of such place, or an administrator as defined in that Ordinance of any such scheme.

13. A government (other than a municipal government authority), an institution which performs the functions of a central bank, or a multilateral agency.

Anti-Money Laundering/Know Your Customer (AML/KYC) Disclosure

By agreeing to the General Terms and Conditions, users also acknowledge that MBX has implemented the AML/KYC program as described in this disclosure. All terms not defined herein shall have the meaning ascribed to them in the General Terms and Conditions and MBX contracts as applicable.

MBX protects itself from involvement in money laundering or suspicious activity by the following:

A system of internal controls designed to assure ongoing AML compliance;
Independent testing of AML compliance through an annual, independent AML audit;
Designation of a Compliance Officer for managing AML Compliance; and
AML training for all employees.

INTERNAL CONTROLS

MBX has established a set of AML/KYC policies and procedures which are approved by the Company’s Board. The approved policies will be provided to all employees. All policies and procedures will be reviewed and updated or revised as needed, but no less often than annually.

The Company has developed and implemented internal controls for the purpose of ensuring that all of its operations comply with AML requirements and that all required reports are made on a timely basis.

INDEPENDENT TESTING

The MBX AML program will be subject to independent testing through an annual, independent AML audit once the board decides that the transaction volumes and size of our operations have made it necessary. The audit will be conducted by an independent third-party with working knowledge of AML requirements, none of whom work for or with the Compliance Officer. The Compliance Officer will develop corrective action plans for all issues that are raised in the audit, supervise the remediation performed, and report all updates to the corrective action plans to the Company’s senior management.

COMPLIANCE OFFICER

MBX has appointed a Compliance Officer to be responsible for the management, coordination and monitoring of compliance with this policy and all applicable AML laws and regulations. The Compliance Officer will have working knowledge of all AML laws and be qualified by knowledge, experience and training. The Compliance Officer will be responsible for filing (if applicable) and keeping a record of suspicious transaction reports (“STR”) and suspicious activity reports (“SAR”). The Compliance Officer will oversee all corrective action of any audit findings or other AML-related issues from the annual, independent AML audit. The Compliance Officer will be responsible for all record-keeping requirements and provide reports on the effectiveness of the AML program to the Company’s Board.

TRAINING

Relevant officers and employees of MBX Group are required to receive AML training. New employees will receive appropriate AML training within 90 days of their hire date. Training for all employees will include not only the legal elements of AML laws and regulations but will also cover job specific applications of these laws. Ongoing training will be provided and updated regularly to reflect current developments and changes to laws and regulations.

CUSTOMER IDENTIFICATION PROGRAM

MBX has developed and implemented a Customer Identification Program (“CIP” or Know-Your-Customer "KYC") that establishes procedures for verifying the identity of each customer that opens a new account on the Company’s platform. It is the MBX policy to ensure that it has reasonably identified each customer who uses the MBX platform.

ACCOUNT OPENING PROCEDURES

Additionally, MBX will, as part of its account opening process: (i) cross-check the names of contract partners against compliance databases and other governmental watch lists; (ii) require users to verify and validate their identity and identification documents presented at onboarding; and (iii) not permit any activity on the platform with incomplete account opening information.

IDENTITY VERIFICATION

Individual

Individual name
Date of birth
Residential address
Identification number (e.g., social security number)
Acceptable and valid government-issued identification document (passport or national identification card)
Source of funds if transaction volume is higher than 10.000 EUR per month

Institutions

Institution name
The address of the institution’s principal place of business and, if different, the institution’s mailing/registered address
Tax Identification Number of the institution
Name of institution’s representative/user for the account
For institutions, the Company will collect the identifying information with respect to each beneficial owner and will use risk-based procedures to verify the identity of such beneficial owners, including:
- Acceptable and valid government-issued identification document (e.g. passport, national identification card) for each beneficial owner; and
- Proof of residency (e.g., utility bills, government issued correspondence, documentation issued by recognized financial institutions).
Source of funds

SUSPICIOUS TRANSACTION AND ACTIVITY REPORTING

MBX maintains a transaction monitoring program reasonably designed for the purpose of monitoring transactions for potential AML violations and suspicious activity reporting. Transactions that are unusual will be carefully reviewed to determine if it appears to be involved with money laundering, tax evasion, terrorist financing, or other illegal or criminal activity.

Upon identification of potential suspicious transactions or activity, the Compliance Officer will then consult with the Company’s Board of Directors to determine whether to perform a filing for suspicious activity. The Compliance Officer will document any suspicious activity, the determinations made with regard to the activity, and the determination as to whether a report of suspicious activity is required pursuant to applicable law or regulation. A filing and any information that would reveal the existence of a filing, are confidential.

In the case of any illegal activity detected using our crypto-assets or any other MBX services:

We may freeze, temporarily or permanently, your use of, and access to your assets or the backing of your assets, with or without advance notice, if we are required to do so by law, including by court order or other legal processes.
Your assets and their backing may be subject to seizure or forfeiture by law enforcement, and we will comply with legal processes in respect thereof.
If we determine after an investigation that our assets or services have been used, or are being used, for illegal (or sanctioned) activity, we may not permit you to redeem your assets from MBX, and, if presented for redemption, the asset backing may be forfeited.
Any crypto-assets or underlying assets that are subject to freeze, seizure, forfeiture or similar limitation on its use imposed by law may become wholly and permanently unrecoverable and unusable, and in appropriate circumstances, may be destroyed.
This applies to all holders of our issued/sold assets, regardless of whether the holder is a Member/User of MBX.
By using our products and services, you agree that we may take the actions set forth above and that we will not be liable to you therefore.
MBX Compliance must comply with any legal directive to freeze, temporarily or permanently, user access to MBX issued asset-backed tokens. MBX will only freeze such assets (1) if required to do so by law, specifically when MBX receives a formal legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over MBX, or (2) pursuant to a formal notification by a MBX partner according to previously agreed contractual terms. Required legal directive formats include court-ordered subpoenas, national security letters, and formal written directives from a regulator with oversight over MBX.
If any party is aware of improper conduct involving a MBX supported asset backed token, the party should immediately contact MBX at [email protected], as well as law enforcement to work towards filing a law enforcement report. MBX will make reasonable effort to cooperate with law enforcement inquiries and assist with investigations pertaining to MBX supported asset backed tokens.
User tokens may subsequently also be subject to seizure or forfeiture if MBX is instructed to seize such funds by formal written legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over MBX. Seizure may not occur under any circumstances absent such a legal directive.
If tokens are seized, the MBX transaction generation will ensure that the seized funds are sent to a segregated wallet address held by MBX for the purposes of seizure/forfeiture, until such time as they may be disposed of or otherwise handled as required by law.

Marketplace Rules

By agreeing to the General Terms and Conditions users also agree to abide by the following marketplace rules for the Exchange (the “Marketplace Rules”). All capitalized terms not defined herein shall have the meaning ascribed to them in the General Terms and Conditions and MBX contracts as applicable.

General Fraudulent Acts. Members shall not engage in any fraudulent act or engage or attempt to engage in any scheme to defraud, deceive or trick users of the Exchange, employees of the Exchange or the underlying software of the Exchange.
Fictitious Transactions. Members shall not place any order with no intention to execute.
Market Manipulation. Members shall not engage in any disruptive trading or manipulation of the Exchange. This includes orders placed for the purpose of generating volatility or creating a condition in which prices do not or will not reflect bona fide supply and demand.
Violation of Applicable Laws and Regulations. Members shall not use the Exchange in a way that violates the laws and regulations applicable to the Company and the Exchange.
Misstatements. Users shall not make any misstatement of material fact to MBX.
Activities That Bring Disrepute upon MBX. Users shall not access the Site or use the Exchange or any Services in any way that could be expected to bring disrepute upon MBX.
Disclosing Orders. Members shall not disclose to any person, including, but not limited to, another market participant, any order placed by Member or any related party or any order placed by another person, including, but not limited to, another Member.
Pre-Arranged Trades. Members shall not place any order on the Exchange that has been pre-arranged (or discussed with another Member prior to being placed on the Exchange) for the purpose of creating an artificial price, fictitious trade, or other disruptive, fraudulent, noncompetitive, or unfair impacts on the Exchange.
Wash Trades. Members, through one or more accounts owned by Member or any related party, shall not place or accept buy and sell orders at the same price, where Member or any related party knows that the purpose of the orders is to artificially create the appearance of activity (transactions commonly known as wash trades).
Money Passes. Members shall not prearrange the execution of transactions on the Exchange for the purpose of passing money between accounts.
Accommodation Trading. Members shall not enter into transactions on the Exchange for the purpose of assisting another person to engage in transactions that are in violation of our Marketplace Rules or any applicable laws and regulations.
Front-Running. Members shall not take a position based upon non-public information regarding an impending transaction by another Member.
Disruptive Practices. Members shall not engage in any trading, practice or conduct on the Exchange that: (i) demonstrates intentional or reckless disregard for the orderly execution of transactions or (ii) involves spoofing (bidding or offering with the intent to cancel the bid or offer before execution).
Members shall not engage in any conduct that threatens, harasses, coerces, intimidates or otherwise attempts to improperly influence another Member or any other person.

MARKETPLACE RULES VIOLATIONS

If we suspect that you have violated our Marketplace Rules, we will give you written notice of such suspected violation, including the general nature of the activity observed. You will have the right to submit within ten (10) calendar days from the date of notification, a written explanation to the Company as to why no disciplinary action should be taken. You agree and understand that you are obligated to respond in writing to any queries from us within the time period for response set forth therein and to furnish documents and other information in connection with any investigation initiated under this Agreement. Following the conclusion of the investigation, we will make a determination, in our sole discretion, as to whether your conduct violated our Marketplace Rules. If we determine that you have violated our Marketplace Rules, in addition to terminating your Account, we may notify our regulators, self-regulatory organizations, including any organizations with which we share Market Data, and law enforcement of the activity, including your identity, and you agree to the same.

Give-Away / Raffle Terms & Conditions

Blockchain Metal Ticaret ve Lojistik Limited Sirketi (hereinafter referred to as MBX) occasionally offers online give away competitions and raffles. Participation in these competitions / raffles are based on the following conditions of participation:

1. Eligibility to participate

All persons that can be whitelisted are eligible to participate. For more information read our Whitelist Policy.

2. Conditions of participation

A person takes part in the competition by fulfilling the competition conditions as clearly set out in the competition / raffle promotion, in particular has to be whitelisted for MBX products and services. The participant is responsible for the correctness of the information required for the competition. The replies to the competition must be received within the deadline specified in the competition. Only one entry will be accepted per person, multiple entries from the same person will be disqualified. The electronically recorded receipt is used to check compliance with the deadline. In order to participate in the competition, it is essential that all personal information is truthful. Otherwise, an exclusion can take place. MBX’s decision in respect of all matters to do with the Giveaway will be final and shall not be subject to review or appeal by any entrant or by any third party.

3. Exclusion from the competition

If conditions of participation are violated, MBX reserves the right to exclude people from the competition. Persons who use unauthorized aids or otherwise gain advantages through manipulation are also excluded. If necessary, winnings can also be subsequently withdrawn and reclaimed in these cases. Anyone who provides false information can be excluded from the competition.

4. Implementation and processing

The winners will be notified in writing (by e-mail to registered address) by MBX and, with your prior consent, can be published by name on MBX or the website of the respective cooperation partner. The winner expressly agrees to this form of publication. MBX is entitled to transmit the winner's data to the cooperation partner in order to enable the prize to be delivered. If MBX only knows the winner's email address, the winner will be notified by email. If the winner does not contact us within two weeks of sending the notification, the entitlement to the prize expires and a new winner will be determined by lot. A cash payment of the prizes or a possible replacement prize is not possible under any circumstances. The claim to the profit or the replacement of the winnings cannot be assigned.

5. Changes and termination of the competition

MBX reserves the right to change the conditions of participation at any time. Furthermore, MBX reserves the right to end or interrupt the competition or raffle at any time for good cause without prior notice. This applies in particular to reasons that would disrupt or prevent the raffle or raffle from running according to plan. If such a termination is caused by the behavior of a participant, MBX is entitled to demand compensation from this person for the damage incurred. Termination can also be decided on if there are not enough participants to enable a game or raffle effectively (enough participants are given without question if participation exceeds 10 times the amount of giveaway slots i.e. for a giveaway where 22 people can win a prize, 220 participants will be sufficient for an effective game/raffle).

6. Data protection

All personal data of the participant will be saved and used exclusively for the purpose of carrying out and processing the competition or the raffle. Participants are free to withdraw their participation in the competition / raffle at any time. The privacy policy applies. For more information see the applicable privacy policy.

7. Liability

MBX is released from all obligations with the handover of the prize, unless an earlier point in time arises from these regulations. MBX is not liable for material and / or legal defects in the prizes donated by any cooperation partners. MBX is only liable for damage caused by MBX or one of its vicarious agents intentionally or through gross negligence or through the violation of cardinal obligations. This limitation of liability does not apply to damage caused by injury to life, limb and / or health.

8. Final clause

The law of the Federal Republic of Germany is exclusively applicable. Place of court is Istanbul, Turkey. Should any of these provisions be or become invalid, this shall not affect the validity of the remaining terms of use.

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