Terms of Service Agreement


CONSUMER FRAUD ALERT: PROTECT YOURSELF. BE CAREFUL WHEN A STRANGER ASKS YOU TO SEND CRYPTO CURRENCY OR MONEY, ESPECIALLY FROM UNSOLICITED EMAILS, FOR INTERNET AUCTIONS, NEWSPAPER OR TELEPHONE OFFERS.

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Last update: 19th day of January, 2022

Welcome to CEX.IO, a digital asset exchange operated by and proprietary to CEX.IO CORP. (“CEX.IO”). You agree and understand that by signing into CEX.IO an opening and account, you are agreeing to enter into this Terms of Service Agreement (“Agreement”), by and among you and CEX.IO, and are legally bound by the terms and conditions contained herein. Please read them carefully and note that there may be specific terms and conditions only applicable to certain jurisdictions. If any term or condition is unacceptable to you, please do not visit CEX.IO, as we will not be able to offer our services to you.

CEX.IO, a Delaware corporation, together with its applicable subsidiaries, affiliates, assignees, successors and its and their respective officers, directors, employees and agents are referred to as CEX.IO, we, us or our. Together, you and we may be collectively referred to as Parties.

Using CEX.IO

By accessing the site, signing in and opening a CEX.IO account, you agree and understand that you are at least 18 years old and have the legal capacity to enter into this Terms of Service Agreement and agree to be bound by the terms and conditions contained in their entirety herein.

You agree and understand that by logging into your account and/or authentication to our application programming interface (“API”) using your API key(s) and/or our Mobile Application and using any of CEX.IO’s services you are agreeing to enter in to this Terms of Service Agreement and be legally bound by the terms and conditions herein, including any future revisions. You understand that accessing your account and using CEX.IO after a revision to this Terms of Service Agreement may affect the transactions you perform, trading fee rebates or discounts you receive, among other things not specified herein. We recommend that you review the Terms of Service Agreement periodically, as using our services is an affirmative acceptance of continuing to agree to our Terms of Service Agreement. You can always find the most recent version of the Agreement here.

Please be advised, the value of digital assets may increase or decrease significantly. There may be substantial risk involved when buying, selling, trading, and/or holding digital assets. Please carefully consider whether engaging in this activity is suitable for you. If so, please use CEX.IO responsibly.

We are not obliged to process any particular transaction. When you submit a request for a transaction, you are requesting that we process the transaction on your behalf. We may, in our sole discretion, choose whether or not to accept the offer to process that transaction. However, if we decide not to process the transaction, we will notify you promptly of that decision, and, if applicable, refund the transaction if we are not prohibited by law from doing so.

We reserve the right to modify or discontinue the service or any part of the service without notice, at any time and from time to time. We may, in our absolute discretion, refuse any transaction or limit the amount to be transferred, either on a per transaction basis or on an aggregate basis, and either on individual accounts or on related accounts.

We may, in our sole discretion, refuse transactions from certain persons or to certain persons, including but not limited to entities and individuals on restricted or prohibited lists issued from time to time by the US Government. In addition, not all services are available to all customers at all times and we may, in our sole discretion, refuse transactions funded from certain persons or services.

We will attempt to process transactions promptly, but any transaction may be delayed or cancelled for a number of reasons including but not limited to: our efforts to verify your identity; to validate your transaction instructions; to contact you; or otherwise to comply with applicable law; or due to variations in business hours and asset availability.

Applicable Laws and Regulations

As a regulated financial institution, your conduct on CEX.IO is subject, but not limited to, the following laws and regulations:

  • The Bank Secrecy Act of 1970 (“BSA”)
  • The USA PATRIOT Act of 2001 (“PATRIOT Act”)
  • Money Services Business (“MSB”) regulations under the Financial Crimes Enforcement Network (“FinCEN”)
  • Applicable State money transmission laws (“MTL”)
  • The Commodities Exchange Act (“CEA”)
  • Applicable regulations and guidance set forth by FinCEN
  • Applicable regulations and guidance set forth by the Securities Exchange Commission (“SEC”)
  • Applicable regulations and guidance set forth by Commodities Futures Trading Commission (“CFTC”)
  • Applicable regulations and guidance set forth by Internal Revenue Service (“IRS”) or applicable State taxation authorities
  • Applicable regulations and guidance set forth by the Financial Industry Regulatory Authority (“FINRA”)
  • Applicable regulations and guidance set forth by the Federal Trade Commission (“FTC”)

You agree and understand that by accessing, signing up and using CEX.IO’s services in any capacity, you are legally bound by this Agreement, and that you are acting in accordance with all applicable laws and regulations.

Account Opening & Data Collection

In connection with your account opening, registration and use of the service, you will provide us with true, accurate, current and complete evidence of your identity, and promptly update your personal information if and when it changes.

As a licensed financial institution and Money Services Business in the United States, CEX.IO must comply with Section 326 of the USA PATRIOT ACT; which requires all financial institutions to obtain, verify, and record personal information that identifies each person who opens an account. This federal requirement applies to all customers. This personal information is used to assist the United States government in the fight against the funding of terrorism and money-laundering activities. Additionally, as a global exchange we may also collect personal information from individuals and entities in the European Economic Area (“EEA”) or the Channel Islands. We are required to safeguard the personal information of our customers in the EEA and Channel Islands in accordance with the General Data Protection Regulation (“GDPR”). You understand that by agreeing to this Agreement, you are consenting to CEX.IO’s collection, processing and use of your personal identifying information and personal data. To understand more about the information we collect and how we use it, please visit our Privacy Policy. Consistent with the obligations from our regulators, when you open an account or login to CEX.IO you are agreeing to have your personal information stored by CEX.IO in accordance with all applicable regulations. Only individuals who have successfully completed our BSA/AML Program are permitted to use CEX.IO’s services. If you would like to provide access to your CEX.IO account to another individual or institution, such user must also register and complete the CEX.IO BSA/AML Program requirements. You agree that you will not allow individuals or institutions access to your CEX.IO account unless they have registered as a user and completed the requirements of our BSA/AML Program. Unauthorized access to your CEX.IO account by unregistered users may result in the termination of all related CEX.IO accounts.

Subject to this Agreement and the CEX.IO BSA/AML Program, you may: (a) add your spouse or domestic partner as an authorized user of your account; (b) add an authorized user of the account who is the beneficiary of your account; (c) add an individual to your corporate account who is a designated representative of the institution. In adding individuals or institutions to your account in this manner, you represent that you are a beneficial owner, control person or authorized representative of the institution and agree to authorize CEX.IO, or a third-party provider to take measures to confirm your identity and permissions granted to you by said institution. Examples of the information which may be requested of you are detailed in the CEX.IO Privacy Policy.

Account Access

You agree and acknowledge that you are only permitted to access your CEX.IO account using your individual login credentials. CEX.IO requires multi-factor authentication to keep your account and funds secure. CEX.IO may require that you use two forms of authentication when accessing your account and performing certain functions on your account. Forms of multi-factor authentication which may supplement your login credentials include: email, short message service (“SMS”) or a supported two-factor authentication (“2FA”). If you choose to install and use a 2FA application on a device (e.g., mobile phone or tablet) on which the operating system has been tampered with in any way, you do so at your own risk. We reserve the right in our sole discretion to prohibit access from or by any device on which the operating system has been or is suspected of having been modified or tampered with. You agree that we may provide your 2FA data to a third-party service provider in order to help us authenticate you.

You agree and acknowledge that your login credentials and all other required forms of authentication were selected by you and you further agree to keep all forms of authentication, including by not limited to login credentials, API keys, passwords, 2FA devices, separate and confidential. You agree and acknowledge that you are solely responsible for managing and maintaining the security of your login credentials and all required forms of authentication for your CEX.IO account(s). You agree and understand that you specifically disclaim any liability or responsibility of CEX.IO for the management, maintenance and/or security of your login credentials, required forms of authentication and/or of unauthorized use of your CEX.IO account(s). Also, you agree that all actions conducted in your account are recognized as having been made on behalf of you and on your own discretion. If you become aware of any suspicious or unauthorized use of your account(s) or login credentials, please notify us immediately at support@cex.io.

Account Information

You agree and understand that it is your responsibility to notify CEX.IO if any of the user information associated with your account(s) has changed. CEX.IO may conduct periodic reviews of your account information as mandated by our regulators and documented in our BSA/AML Policy. To ensure compliance with the applicable regulations, CEX.IO must represent that the personal information and account information used to compile your customer profile is up to date and accurate. Additionally, CEX.IO may use the account information we have on file for you to contact you regarding any issues with your account.

To ensure that you receive all communications, we ask that you agree to notify us of any changes to your personal or account information as soon as possible. If communication using the information you have provided to us becomes incorrect or is returned as undeliverable, we reserve the right to temporarily freeze the account until accurate information is provided to us.

Transaction Information

A complete record including; trading activity, pending transactions, deposits and withdrawals, as well as your fiat and digital asset balance of your Transaction History is always available in your CEX.IO account(s). You acknowledge and agree that no representation in your Transaction History should be considered a valuation. CEX.IO uses all reasonable and commercially viable efforts to ensure that your transaction history is accurate. We further provide you with written notice of confirmations of said transactions. If you receive written notice of a transaction that is incorrect, you agree and acknowledge that you have two (2) calendar days to contact CEX.IO to correct the transaction record. If you do not notify CEX.IO of the incorrect transaction information within two (2) calendar days, your failure to do so shall be deemed as approval of the transaction. Any transaction listed in your Transaction History or other communication including, but not limited to, receipts sent to the email on record shall be deemed and treated as authorized and correct, approved, and confirmed by you, unless we receive written notice within two (2) calendar days from the date the transaction occurred.

Account Investigations

You agree and acknowledge that based on CEX.IO’s regulatory obligations, we have a duty to investigate any activity that may be unusual, suspicious and/or in furtherance of an attempted violation of applicable law or CEX.IO policy. You further agree and understand that CEX.IO may ask you to provide additional information to corroborate information in your account profile or related Transaction History. Examples of possible information we may request from you can be found in our Privacy Policy. During the course of our Account Investigation, CEX.IO may: (1)freeze your account and all accounts beneficially owned by you and any members of your household, or for which you are a representative or authorized signatory and, in the case of entities, any affiliate; (2) freeze any funds or assets in the account while the investigation is being conducted; (3) suspend your access to CEX.IO or any affiliated CEX.IO platforms, until a determination has been made, if we suspect, in our sole discretion, you and/or any related accounts under common control to be in violation of: (i) any provision in the Agreement; (ii) the CEX.IO BSA/AML Program; (iii) any applicable laws or regulations by any of CEX.IO’s regulators;(iv) any of CEX.IO’s policies as incorporated by reference herein.

You further agree and understand that until a final determination or conclusion of the Account Investigation, CEX.IO may freeze or suspend your account, including but not limited to, the following scenarios:

  • (I) The account, or authorized user is subject to any pending litigation, investigation, or governmental proceeding.
  • (II) The account, or authorized user is a named person being investigated by a regulatory authority, subject to a court order, facially valid subpoena, or binding order of a government authority.
  • (III) The account has a negative balance for any reason.
  • (IV) Your ACH transaction was returned by your bank.
  • (V) We believe an unauthorized person is attempting to access your account.
  • (VI) There is unusual or suspicious activity on the account.
  • (VII) Your account has been accessed from a sanctioned jurisdiction or a jurisdiction CEX.IO is not authorized to operate.
  • (VIII) Your account has not been accessed in two (2) years or more.

Account Closure

At any time, you may provide written notice requesting that your account be closed. Any user seeking account closure will receive written confirmation by CEX.IO affirming such a request; however, account closure will not end any open investigation into a user’s account. You agree and understand that closing an account will not affect any rights and obligations incurred prior to the date of the account closure. You may be required to either cancel or complete all open orders and, in accordance with the provisions of this Agreement, provide transfer instructions indicating where to transfer any fiat currency and/or digital assets remaining in your account. You are responsible for any fees, costs, expenses, charges, or obligations (including, but not limited to, attorney and court fees or transfer costs of fiat currency or digital assets) associated with the closing of your account. In the event that the costs of closing of your account exceed the value in your account, you will be responsible for reimbursing CEX.IO. You may not close any of your accounts to avoid paying any fees incurred or to avoid any examination related to our BSA/AML Program.

Fiat/Cryptocurrency recovery

CEX.IO reserves the right but not an obligation at your request to recover cryptocurrency deposits incorrectly sent by you to your CEX.IO account. The attempt to recover the incorrectly sent cryptocurrency deposit imposes a fee of 10% assessed on the cryptocurrency deposit amount, but not less than 100 USD in your deposit cryptocurrency equivalent. This fee will be calculated from the original amount of your deposit and charged in the deposit’s cryptocurrency. You agree that the CEX.IO team can start the cryptocurrency deposit recovery process only when you have the sufficient amount of funds on your CEX.IO account to cover the recovery fee. This recovery fee will be charged regardless of the recovery outcome as the CEX.IO team uses significant resources to investigate the case, develop, and implement technical solutions. You agree that the decision to recover cryptocurrency deposits incorrectly sent by you remains fully at the sole discretion of the CEX.IO team, as it will investigate every case and estimate whether or not it can attempt to recover these funds.

CEX.IO also reserves the right but not an obligation at your request to recover in certain situations fiat withdrawals incorrectly sent by you in instances where: a) you made a mistake in bank details or b) the beneficiary's bank is in a high-risk area. The attempt to recover the incorrectly sent fiat withdrawals imposes a non-refundable fee in the amount of 50 (fifty) USD. The CEX.IO team can start to recover an incorrectly sent User Fiat Withdrawal only in case when the User has the sufficient amount of funds in its Account to cover this fiat recovery fee. This fiat recovery fee will be charged regardless of the recovery outcome as the CEX.IO team uses significant resources to investigate the case. The decision to recover User Fiat Withdrawals incorrectly sent by the User remains fully at the sole discretion of the CEX.IO team, as it will investigate every case and estimate whether or not it can attempt to recover these funds.

Recourse for Breach of the Agreement

You agree and acknowledge, if your account, related account under common control, is determined in CEX.IO’s sole discretion to have breached the Agreement, we reserve the right to debit from all related accounts: (i) value of any trading fee discounts, fee rebates or incentives that were conferred over the period of time looking back to the initial breach of the Agreement;(ii) any damages suffered by CEX.IO as a result of your violation of the Agreement. You further agree and acknowledge that if CEX.IO determines in our sole discretion that you have coordinated, colluded, coordinated or conspired with any other user on the platform to commit market manipulation actions which specifically includes, without limitation: front-running, wash trading, spoofing, layering, churning, and quote stuffing, you and the associated users will be jointly and severally liable for the entire value of all of the: (i) value of any trading fee discounts, fee rebates or incentives that were conferred over the period of time looking back to the initial breach of the Agreement; (ii) any damages suffered by CEX.IO as a result of your violation of the Agreement. CEX.IO reserves the right to deduct such amounts related to these violations directly from all related accounts.

Unclaimed Account Balance

If your account remains closed or dormant for a period of two (2) years or more, we may be required to report any remaining funds in your account as unclaimed property in accordance with abandoned property and escheatment laws. We will make all reasonable efforts to provide written notice to you, using the customer information provided by you. CEX.IO reserves the right to deduct any administrative or storage fee resulting from the unclaimed funds as permitted by applicable state law.

Double Spending

In case where, due to the CEX.IO platform’s technical problem/error/glitch. the withdrawal amount you received exceeds the amount requested by you, you undertake to immediately notify CEX.IO and to return the exceeding amount to your CEX.IO account. In such an instance you agree that CEX.IO has a right to unilaterally withdraw this exceeding amount from your CEX.IO account without notification.

In instances where CEX.IO becomes aware of such Platform’s technical problem/error/glitch and the you receive an amount exceeding the amount requested, you acknowledge and agree that CEX.IO has a right to switch off withdrawals on your CEX.IO account. In such instances where CEX.IO becomes aware of such platform’s technical problem/error/glitch and requested you to return the exceeding amount to your CEX.IO account, but you do not return the requested funds within sixty (60) calendar days, CEX.IO reserves the right to unilaterally sell the cryptocurrency in your CEX.IO account in the necessary proportional amount at any moment by market order to set off the debt that you owe to CEX.IO.

If CEX.IO is not able to cover the financial loss in full, CEX.IO has a right to claim full recovery of the exceeding amount using all available legal remedies available.

Digital Assets Listed on CEX.IO

You understand that we do not own or control the underlying software protocols of digital asset networks which govern the operation of digital assets. In general, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them. You agree and understand that: (i) we are not responsible for the operation of the underlying protocols, and (ii)we make no guarantees regarding their security, functionality, or availability. You further acknowledge that CEX.IO performs extensive due diligence before supporting a digital asset on the platform. You acknowledge and understand that CEX.IO may choose to support or delist other digital assets in our sole discretion in the future. The digital asset networks that are supported for United States users on CEX.IO can be found here.

All digital assets that are unsupported by CEX.IO but operate on the underlying protocol of any of the supported digital assets will not be covered by CEX.IO. You agree and understand that any digital assets that are not expressly named in this Agreement will not be supported by CEX.IO and any deposits of unsupported digital assets into CEX.IO will not be honored.

CEX.IO Bundles (Instant Buy)

The CEX.IO Bundle (“Bundle”) is an offer to purchase multiple digital assets in a single-click transaction, subject to our current fees for purchasing Bundles. The digital assets included in any Bundle are made available by CEX.IO in its sole discretion. The amount of digital assets in any Bundle offer is proportional to each digital assets’ “market capitalization,” calculated by multiplying its current price by the total circulating supply of the digital assets. By purchasing a Bundle, you agree and acknowledge that you have the ability to sell and send each digital asset included in the Bundle at your discretion, just as if you had purchased each digital asset in segregated and individual transactions. CEX.IO may allow you to perform a single transaction to sell an amount proportionally across all the digital assets purchased as part of a Bundle, and CEX.IO may allow this only if you have not previously unbundled your purchased Bundle. A Bundle cannot be reconstituted once it is sold as individual digital assets.

All pricing or performance data related to the Bundle is for informational purposes only. A Bundle is not an offer to purchase any single security, investment, or financial instrument. A Bundle is not an investment contract. A Bundle offer is not a recommendation to buy, sell or hold any digital asset or any amount of a digital assets and does not constitute investment advice, financial advice, or trading advice.

Staking

CEX.IO allows the User to participate in the transaction validation process (“Staking”) on proof-of-stake (“PoS”) blockchains. Such blockchains allow the participating holders of a minimum-required balance of a specific cryptocurrency to validate transactions and earn Staking rewards.

Staking rewards are calculated and initiated by the dedicated PoS blockchain. The Platform is not responsible for the conditions and results of the Staking process of the relevant PoS blockchain. CEX.IO does not guarantee that you will receive rewards, any specific reward, or any Staking return over time. Please read carefully the staking conditions of the respective PoS blockchain. The yield earned by Users is determined by, and subject to the rules of the PoS blockchain, which may be changed or modified by such PoS blockchain in their sole discretion. CEX.IO has no control over, nor will CEX.IO be liable for, any change made by any PoS blockchain.

Unless otherwise specified, the rewards are usually calculated and updated every hour, and sent to your account once per month. Please refer to the CEX.IO Earn Service product page for specific annual yield and rewards information for each PoS blockchain. Staking services are entirely voluntary and optional, however Staking may not be available to Users in all jurisdictions.

The tax treatment of Staking rewards is uncertain, and it is the responsibility of the User to determine what taxes, if any, arise from Staking. Users are solely responsible for reporting and paying any applicable taxes arising from Staking. User acknowledges that CEX.IO does not provide investment, legal, or tax advice to User in connection with such election to participate in Staking. Users should conduct their own due diligence and consult their own advisors before making any decision to participate in Staking.

User understands and accepts the following risks that may arise and the related losses User may incur from using Staking, including without limitation:

User may have exposure to risks on the third party platforms which may result in losses;

High price fluctuations of cryptocurrencies can result in significant losses in a short period of time;

Technical anomalies may occur, which may delay or prevent you from using Staking or performing related transactions, resulting in losses; and

Market anomalies and unforeseen events may occur, which may result in losses.

User hereby warrants that User has the necessary experience and knowledge to use Staking and understands and acknowledges the potential risks of using Staking. Users should carefully consider and evaluate their financial condition along with the above-mentioned risks before making any decision to use Staking.

The Staking process description, information about eligible cryptocurrencies for Staking and terms for rewards is located at: https://staking.cex.io/

Forks of Supported Digital Assets

You agree and understand that the underlying protocols of supported digital assets are subject to changes in the protocol operating rules. Such an event may lead to a “Fork” whereby the network protocol may not all agree on the change in protocol. Resulting in only part of the network adopting the new protocol, therefore the network may split into two different blockchains. Although each potential Fork is different, it may result in more than one version of the blockchain or digital asset following the Fork. You further agree and understand that Forks may substantially affect the value, function and transaction speed of the digital assets you hold at CEX.IO. Generally, CEX.IO will support the Forked blockchain that maintains a higher computational difficulty required to mine all existing blocks in the blockchain. CEX.IO will use reasonable discretion to determine which Forked blockchain is supported by the greatest number of miners and users, to determine which Forked blockchain may be supported.

In the event of a Fork, you agree and understand that CEX.IO reserves the right to temporarily suspend the operations of the affected network protocols, while we determine, in our sole discretion, which, if any, Forked blockchain to support. As each Fork is different, you agree and understand that the determination made by CEX.IO in regard to the Forked blockchain is under no time constraints or deadlines and our determination to support, or not support, a Fork may be changed at our sole discretion. Under certain circumstances, if a Fork is not supported, the digital assets resulting from the unsupported blockchain may become property of CEX.IO. You agree and acknowledge that prior to any Fork, you have the right to withdraw your digital assets and retain the unsupported blockchain at your own discretion, bearing the sole responsibility for any risks incurred.

Fees

By using CEX.IO’s services, you agree and acknowledge to pay all applicable fees. A complete list of our fees can be found here. CEX.IO reserves the right to adjust its pricing and fees and any applicable waivers at any time. We will always notify you of the pricing and fees applicable to your transaction when you authorize the transaction and in each receipt we issue to you. You acknowledge that most exchange activity is internal on CEX.IO’s platform, or “off-chain”, and not broadcast on a given blockchain. We may charge network fees, sometimes called miner fees, to process a digital asset transaction on your behalf. We will calculate the network fee in our discretion. Bank fees charged to CEX.IO are netted out of transfers between CEX.IO and our banking partners. You may be responsible for additional fees charged to you based on your individual customer agreement with your financial services provider. You may be required to deposit additional USD to cover bank fees if you desire to complete a transfer where the fees exceed the balance in your account.

Rounding Policy

You agree and understand that for financial calculations involving a digital asset to fiat conversion, CEX.IO rounds the fiat currencies to the second digit after the separator in favor of CEX.IO. The Rounding Policy for a specific digital asset may vary dependent upon the properties of a particular digital asset. For the purpose of the process optimization, transactions on CEX.IO with regard to certain digital assets will not be reflected in the user’s account and will appear as soon as a unit is whole in accordance with the rounding standards.

Rehypothecation of Funds Policy

You agree and acknowledge that you expressly grant CEX.IO the right, to the fullest extent that it may effectively do so under applicable law to: (i) hold the digital asset in our own omnibus account and to pledge, repledge, hypothecate, rehypothecate, collateralize or otherwise transfer or use any of the digital assets, with all attendant rights of ownership, and (ii) to use or invest the digital assets for our own benefit or risk. You agree and acknowledge that, with respect to digital assets used by CEX.IO pursuant to this paragraph; (i) you may not be able to exercise certain rights of ownership and (ii) CEX.IO may receive compensation in connection with collateralizing or otherwise using digital assets in its business to which you will have no entitlement.

CEX.IO Site Maintenance

You agree and understand that as part of bringing the best service possible to our customers, CEX.IO may conduct periodic maintenance or downtime on the website, API or Mobile Application. You may always check the status of CEX.IO at any time here. You further agree and acknowledge that CEX.IO is not liable or responsible for any damages incurred by you as a result of maintenance or downtime.

Gambling Policy

You agree and acknowledge that CEX.IO prohibits the use, facilitation or movement of funds on our platform which contribute to illegal gambling. As such, you further agree and acknowledge that CEX.IO has the right to (i) conduct an investigation into the source or use of funds in your account, related to gambling; (ii) suspend or freeze your access to your account or funds in your account; or (iii) terminate your account; if we suspect, in our sole discretion any such activity to be in violation of our Gambling Policy. CEX.IO uses a variety of applications to monitor for violations of our Gambling Policy. If we suspect you may work or associate with any industry that is closely related, intertwined or in close proximity to gambling, we may, in our sole discretion, ask you to sign a Gambling Attestation, certifying that you will not use CEX.IO or any of our services to facilitate any illegal gambling activities.

Specific Representations and Illegal Transactions

You represent and warrant that both fiat currency and cryptocurrency deposited to your CEX.IO account belong to you and are derived from legal sources.

You represent and warrant that you will withdraw any cryptocurrency from your account only to your wallets, and CEX.IO will not incur any liability for the consequences of any withdrawal.

CEX.IO reserves the right to suspend or terminate your CEX.IO account at any time if we reasonably believe we are required to do so by the law or in order to comply with recommendations issued by a relevant government authority or recognized body for the prevention of financial crime.

It is strictly forbidden to use an account for any illegal purposes. CEX.IO will report any suspicious activity to relevant law enforcement.

You ensure that you do not and will not use the services for the transactions, including but not limited to and relating to:

  • money laundering, terrorist financing, proliferation of weapons of mass destruction;
  • human trafficking;
  • any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organisations glorifying war or violating human dignity;
  • any goods or services, promotion, offer or marketing of which would violate copyrights, industrial property rights or other rights of any person;
  • archaeological findings;
  • drugs, narcotics or hallucinogens;
  • weapons of any kind;
  • Ponzi, pyramid or any other “get rich quick” schemes;
  • dishonest and unethical investment practices;
  • goods that are subject to any trade embargo;
  • media that is harmful to minors and violates laws and, in particular, the provision in respect of the protection of minors;
  • body parts or human remains;
  • protected animals or protected plants;
  • weapons or explosive materials; or
  • any other illegal goods, services or transactions.

No Solicitation

None of the representations made by CEX.IO herein constitute an offer to buy or sell or a solicitation of an offer to buy or sell investments, loans, securities, partnership interests, commodities or any other financial instruments of any kind. CEX.IO makes no representation or warranty, express or implied, to the extent not prohibited by applicable law, regarding the advisability of investing in securities, funds, partnership interests or other investments of any kind.

Any of the content on any of the CEX.IO websites or Mobile Application do not necessarily reflect the views of CEX.IO as a whole, its directors, officers, employees, shareholders or any part or member thereof. No information contained on the CEX.IO website constitutes, or should be construed as, investment, tax, legal, financial or any other advice.

Force Majeure

CEX.IO shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, significant market volatility, any delay or failure due to any act of God, act of civil or military authorities, act of terrorism, civil disturbance, war, strike or other labor dispute, fire, natural disaster, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.

USA PATRIOT ACT Notification

As a licensed financial institution and Money Services Business in the United States, CEX.IO must comply with Section 326 of the USA PATRIOT ACT; which requires all financial institutions to obtain, verify, and record Personal Information that identifies each person who opens an account. This federal requirement applies to all customers. This Personal Information is used to assist the United States government in the fight against the funding of terrorism and money-laundering activities. For further information regarding our use and storage of your personal identifying information, please refer to our Privacy Policy.

Severability

If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law, or regulation of any local, state, or federal government agency, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of this Agreement shall not be affected.

Change of Control

In the event that CEX.IO is 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. For more information, please refer to CEX.IO’s Privacy Policy.

Non-Waiver of Rights

This agreement shall not be construed to waive rights that cannot be waived under applicable state money transmission laws in the state where you are located.

State License and Regulatory Disclosures

CEX.IO has received a Money Transmitter license (“MTL”) and is licensed to operate in the following States:

  1. Alabama.
  2. Alaska.
  3. Connecticut.
  4. Delaware.
  5. Florida.
  6. Georgia.
  7. Idaho.
  8. Illinois.
  9. Iowa.
  10. Kansas.
  11. Louisiana.
  12. Maine.
  13. Maryland.
  14. Minnesota.
  15. Nebraska.
  16. Nevada.
  17. New Hampshire.
  18. New Jersey.
  19. New Mexico.
  20. North Carolina.
  21. Ohio.
  22. Oklahoma.
  23. Oregon.
  24. Rhode Island.
  25. South Carolina.
  26. South Dakota.
  27. Tennessee.
  28. Vermont.
  29. Virginia
  30. Washington.
  31. West Virginia.

If you do not see your state on this list, we may still be able to provide services to you. Based on our analysis, the following states do not require a license for CEX.IO to provide our services to you: Arizona, Arkansas, California, Colorado, Indiana, Kentucky, Massachusetts, Michigan, Missouri, Mississippi, Montana, North Dakota, Pennsylvania, Utah, Wisconsin, Wyoming, District of Columbia.

RISK WARNING

The trading of commodities and cryptocurrencies involves a significant amount of risk. Prices can fluctuate, often significantly, on any given day. Because of such price fluctuations, you may gain or lose value of your assets at any given moment. Any cryptocurrency may be subject to large swings in value and may even become completely worthless. There is always an inherent risk that losses will occur as a result of buying, selling or trading anything on the market. Cryptocurrency trading has specific risks, which are not shared with other official currencies, goods or commodities in a market.

  • Cryptocurrency is not legal tender, is not backed by the government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections;
  • Legislative and regulatory changes or actions at the State, Federal, or international level may adversely affect the use, transfer, exchange, and value of Cryptocurrency;
  • Transactions in Cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable;
  • Some Cryptocurrency transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction;
  • The value of Cryptocurrency may be derived from the continued willingness of market participants to exchange Fiat Currency for Cryptocurrency, which may result in the potential for permanent and total loss of value of a particular Cryptocurrency should the market for that Cryptocurrency disappear;
  • There is no assurance that a person who accepts a Cryptocurrency as payment today will continue to do so in the future;
  • The volatility and unpredictability of the price of Cryptocurrency relative to Fiat Currency may result in significant loss over a short period of time;
  • The nature of Cryptocurrency may lead to an increased risk of fraud or cyber-attack;
  • The nature of Cryptocurrency means that any technological difficulties experienced by CEX.IO may prevent the access or use of a customer's Cryptocurrency; and
  • Any bond or trust account maintained by CEX.IO for the benefit of its customers may not be sufficient to cover all losses incurred by customers.

There may be additional risks, which have not been foreseen or identified in the current Terms of Use.

Every user has to carefully assess whether his/her financial situation and tolerance for risk is suitable for buying/selling/trading Cryptocurrency.

Limitation of Liability; Disclaimer of Warranties

IN NO EVENT, EXCEPT OTHERWISE REQUIRED BY LAW, SHALL CEX.IO, ITS AFFILIATES AND/OR SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE: (A) TO YOU OR ANYONE ELSE FOR ANY LOSS OR INJURY RESULTING DIRECTLY OR INDIRECTLY FROM YOUR USE OF CEX.IO, OR; (B) FOR ANY LOST PROFITS, DIMINUTION IN VALUE OR LOSS OF BUSINESS OPPORTUNITY, ANY LOSS, DAMAGE, CORRUPTION OR BREACH OF DATA OR ANY OTHER INTANGIBLE PROPERTY OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF CEX.IO OR ANY OF CEX.IO’S SERVICES.

THIS LIMITATION ON LIABILITY INCLUDES, BUT IS NOT LIMITED TO ANY DAMAGE OR INTERRUPTIONS CAUSED BY ANY COMPUTER VIRUSES, MALWARE, SPYWARE, SCAMWARE, WORMS, TROJAN HORSES, OR OTHER MALICIOUS SOFTWARE THAT MAY AFFECT YOUR COMPUTER OR OTHER EQUIPMENT, OR ANY PHISHING, SPOOFING, URL HIJACKING, DOMAIN TYPOSQUATTING, OR OTHER ATTACKS, FAILURE OF MECHANICAL OR ELECTRONIC EQUIPMENT OR COMMUNICATION LINES, TELEPHONE OR OTHER INTERNET CONNECTION PROBLEMS (WHICH MAY COLLECTIVELY LIMIT YOUR ACCESS TO CEX.IO), UNAUTHORIZED ACCESS, THEFT, OPERATOR ERRORS, OR ANY FORCE MAJEURE. NEITHER CEX.IO NOR ANY OF OUR SERVICE PROVIDERS GUARANTEE SECURE, CONTINUOUS, UNINTERRUPTED, ACCESS TO CEX.IO.

USE OF CEX.IO AND ACCESS TO OUR SERVICES ARE PROVIDED TO YOU ON AN "AS IS,""AS AVAILABLE," OR “WHEN/WHERE AVAILABLE” BASIS WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER STATUTORY, EXPRESS, OR IMPLIED.

TO THE EXTENT PERMITTED BY APPLICABLE LAW, CEX.IO CATEGORICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. CEX.IO DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE SITE, OR ACCESS TO ANY OF OUR SERVICES, OR ANY OF THE MATERIALS CONTAINED HEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR WITHOUT ERROR.

IF YOU ARE A NEW JERSEY RESIDENT, the provisions of this Section (Disclaimer of Liability)are intended to apply only to the extent permitted under New Jersey law.

IF THIS LIMITATION OF LIABILITY AND DISCLAIMER OF WARRANTIES SECTION CONFLICTS WITH ANY OTHER SECTION OF THIS TERMS OF SERVICE AGREEMENT, THIS LIMITATION OF LIABILITY AND DISCLAIMER OF WARRANTIES SECTION SUPERSEDES THE OTHER SECTION.

Modification and Amendments

You agree and acknowledge that CEX.IO reserves the right to amend or modify any portion of this Agreement at any time by publishing the revised version of the Agreement on the Site. The changes will become effective and shall be deemed accepted by you, the first time you access our Sites or use CEX.IO’s Services after the revised Agreement has been published. Revised Agreements shall apply on a going-forward basis with respect to any activity initiated after publishing.

In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate the use of the Services and close the Account. You agree that CEX.IO shall not be liable as a result of any losses suffered by any modification or amendment of this Agreement.

Entire Agreement

You unequivocally agree and understand that this Agreement, Privacy Policy among others as incorporated by reference herein, collectively memorialize the relationship and agreement by and among you and CEX.IO. This Agreement entered into by you and CEX.IO, supersedes all prior discussions, agreements, or correspondence of any kind.

TERMINATION

Either party may terminate this agreement on one day's written notice.

We may terminate this agreement immediately if you:

  • become, or are likely to become, insolvent or are declared bankrupt;
  • are in breach of any provision of this agreement;
  • your use of the service or the website is disruptive to our other customers, or you do anything which in our opinion is likely to bring us into disrepute;
  • breach or attempt to breach the security of the website (including but not limited to: modifying or attempting to modify any information; unauthorised log-ins, unauthorised data access or deletion; interfering with the service, system, host or network; reverse engineering of any kind; spamming; hacking; falsifying data; introducing viruses, Trojan horses, worms or other destructive or damaging programs or engines; or testing security in any way).

Feedback and Resources

Tell us how we can improve, or if you have any questions, comments, or concerns regarding our this Agreement, please contact us by live chat on the Site to speak directly with a Customer Support team member in real time.

Additional resources may be found through our Help Centre.

Customer Notice

Oregon Department of Insurance and Finance

CEX.IO maintains a money transmission license in the State of Oregon and is therefore subject to the requirements of the Oregon money transmission statutes. Any regulated services provided to users located in the State of Oregon shall be characterized as money transmission and not as trust services performed on behalf of our users in the State of Oregon. If you are a user located in the State of Oregon, we are not providing any trust services to you or to any other user in the State of Oregon in the course of you visiting, accessing, or using any of Our Sites hereunder. Any reference in the Terms of Service Agreement to fiduciary services provided by us on your behalf shall refer, in the case of users in the State of Oregon, to our fiduciary obligations as a licensed money transmitter in Oregon.

If you are located in the State of Oregon and have a complaint, please first contact CEX.IO Support. If you still have an unresolved complaint regarding our money transmission activity, you may also direct your complaint to the: Oregon Division of Financial Regulation, P.O. Box 14480, Salem, OR 97309-0405; +1 (866) 814-9710 (toll-free in the USA). Please visit http://dfr.oregon.gov/ for additional information.

Alaska Department of Commerce, Community, and Economic Development

For Alaska Residents Only:

If your issue is unresolved by CEX.IO Corp - 845-834-8017, please submit formal complaints with the State of Alaska, Division of Banking & Securities.

Please download the form here: https://www.commerce.alaska.gov/web/portals/3/pub/DBSGeneralComplaintFormupdated.pdf

Submit formal complaint form with supporting documents:

Division of Banking & Securities PO Box 110807 Juneau, AK 99811-0807

If you are an Alaska resident with questions regarding formal complaints, please email us at dbs.licensing@alaska.gov or call Nine Zero Seven Four Six Five Two Five Two One (907-465-2521)

Colorado Division of Banking

Colorado Money Transmitters Act CUSTOMER NOTICE Entities other than FDIC insured financial institutions that conduct money transmission activities in Colorado, including the sale of money orders, transfer of funds, and other instruments for the payment of money or credit, are required to be licensed by the Colorado Division of Banking pursuant to the Money Transmitters Act, Title 12, Article 52, Colorado Revised Statutes. If you have a Question about or Problem with YOUR TRANSACTION – THE MONEY YOU SENT: You must contact the Money Transmitter who processed your transaction for assistance. The Division of Banking does not have access to this information. If you are a Colorado Resident and have a Complaint about THE MONEY TRANSMITTER – THE COMPANY THAT SENT YOUR MONEY: ALL complaints must be submitted in writing. Please fill out the Complaint Form provided on the Colorado Division of Banking’s website and return it and any documentation supporting the complaint via mail or email to the Division of Banking at:

Colorado Division of Banking 1560 Broadway, Suite 975 Denver, CO 80202

email: DORA_BankingWebsite@state.co.us website: www.dora.colorado.gov/dob

Maryland

The Commissioner of Financial Regulation for the State of Maryland will accept all questions or complaints from Maryland residents regarding CEX.IO CORP (License No. 1804170 and NMLS ID: 1804170) by contacting the Commissioner's office at: 500 North Calvert Street, Suite 402, Baltimore, Maryland 21202, or (888) 784-0136.

Florida

NOTICE: By the Florida Office of Financial Regulation

BY GRANTING CEX.IO CORP A LICENSE, THE FLORIDA OFFICE OF FINANCIAL REGULATION IS NOT ENDORSING THE USE OF DIGITAL OR VIRTUAL CURRENCIES.

  • U.S. currency is legal tender backed by the U.S. government.
  • Digital and virtual currencies are not issued or backed by the U.S. government, or related in any way to U.S. currency, and have fewer regulatory protections.
  • The value of digital and virtual currencies is derived from supply and demand in the global marketplace which can rise or fall independently of any fiat (government)currency.
  • Holding digital and virtual currencies carries exchange rate and other types of risk.

POTENTIAL USERS OF DIGITAL OR VIRTUAL CURRENCIES, INCLUDING BUT NOT LIMITED TO BITCOIN, SHOULD BE FOREWARNED OF A POSSIBLE FINANCIAL LOSS AT THE TIME THAT SUCH CURRENCIES ARE EXCHANGED FOR FIAT CURRENCY DUE TO AN UNFAVORABLE EXCHANGE RATE. A FAVORABLE EXCHANGE RATE AT THE TIME OF EXCHANGE CAN RESULT IN A TAX LIABILITY. PLEASE CONSULT YOUR TAX ADVISOR REGARDING ANY TAX CONSEQUENCES ASSOCIATED WITH YOUR HOLDING OR USE OF DIGITAL OR VIRTUAL CURRENCIES.

If you have a question or complaint, please contact the consumer assistance division of CEX.IO by live chat on the Site.

Hawaii

CEX.IO is providing services to you as a participant in a special Hawaii project which ends on December 31, 2022. At the end of the project term, CEX.IO may be required to close all accounts for Hawaii customers and cease operations. CEX.IO will notify Hawaii customers in advance if accounts must be closed. Hawaii customers who choose to open accounts with CEX.IO are advised that the virtual currency or digital currency purchased, whether as an investment, for making payments, or other purposes, may lose value, including the loss of some or all of your original purchase amount.

Louisiana

Please note the license issued to CEX.IO CORP. by the Louisiana Office of Financial Institutions does not cover the exchange or transmission of virtual currency.

CEX.IO CORP. is licensed by the Louisiana Office of Financial Institutions as a money transmitter. The Louisiana Office of Financial Institutions does not license or regulate services related to virtual currency including but not limited to transmission or exchange which may be conducted by CEX.IO CORP.

Illinois

If you are located in the State of Illinois and have a complaint, please first contact us by live chat on the Site. If you still have an unresolved complaint or suspected violations of the Illinois Transmitters of Money Act, please contact the Illinois Department of Financial Institutions at 1-888-473-4858, or submit an online complaint at https://www.idfpr.com/admin/DFI/DFIcomplaint.asp.

Minnesota

CEX.IO Corp is committed to combating fraud. If you are located in the State of Minnesota and believe that your account has been accessed without your authorization, you did not initiate a transaction, are not the intended recipient of a transmission, or should you have any other questions or concerns regarding CEX.IO Corp, please contact CEX.IO Corp by live chat on the Site.

You may also submit a complaint to the Minnesota Department of Commerce by phone at 651- 539-1500 or by mail at Main Office, Golden Rule Building, 85 7th Place East Suite 280 Saint Paul, Minnesota 55101. You may also contact the Consumer Financial Protection Bureau for questions or complaints about CEX.IO Corp at https://www.consumerfinance.gov/ or by phone at 855-411-2372.

Nevada

CEX.IO Corp is licensed by the Nevada Department of Business and Industry as a money transmitter. At this time, the Nevada Department of Business and Industry does not license or regulate services related to virtual currency, including but not limited to virtual currency transmission or exchange which may be conducted by CEX.IO Corp.

Tennessee

Please note that this license and the required surety bond does not cover the virtual currency. CEX.IO Corp is licensed by the Tennessee Department of Financial Institutions as a money transmitter. The Tennessee Department of Financial Institution does not regulate virtual currency.

Texas If you have any complaint, first contact the customer service of CEX.IO Corp by live chat on the Site. If you still have an unresolved complaint regarding the company’s currency exchange activity, please direct your complaint to: Texas Department of Banking 2601 North Lamar Boulevard, Austin, Texas 78705, 1-877-276-5554 (toll free), www.dob.texa.gov

Virginia

CEX.IO Corp is licensed by the Virginia State Corporate Commission as a money transmitter. Such a license does not cover the transmission of virtual currency; but not limited to Bitcoin.

Washington

If you have a complaint, first contact the consumer assistance division of CEX.IO Corp by live chat on the Site and if you still have unresolved complaint regarding the company’s money transmission activity, please contact the Washington State Department of Financial Institutions, Division of Consumer Services using one of the following methods:

File a complaint online, mail or fax: https://dfi.wa.gov/consumers/loan-complaints Call us 1-877-RING DFI (1-877-746-4334) Email us: CSEnforceComplaints@dfi.wa.gov