CryptoSmartlife Terms of Use

 

Hi! Welcome to CryptoSmartlife.

 

These Terms of Use ("Terms") and any terms expressly incorporated herein apply to your access to and use of the Platforms and the Services (each defined below).

 

By accessing or using the Platform or our Services, you are agreeing to these Terms, which form a legally binding agreement between you and Smartliving Digital Technologies Pvt Ltd, India. So, please read them carefully. If you do not agree to these Terms, please do not visit, access, or use the Platform or our Services. It is clarified that you enter into these Terms with Smartliving Digital Technologies Pvt Ltd, India

 

We do not offer our Platform and Services in Singapore. If you are a Singapore resident, you must not access or use the Platform or our Services whether directly, or indirectly.

1            Key Definitions

 

Capitalized terms not otherwise defined in these Terms will have the following meaning:

1.1            “Basket” means a basket of various Digital Assets created on the basis of different themes.

1.2            “CryptoSmartlife India” or “CryptoSmartlife” or “we” or “us” or “our” refers to Smartliving Digital Technologies Private Limited, a private limited company having registration credentials as U72200TG2021PTC155008.

1.3            “CryptoSmartlife Account” means a user account accessible through the Services, which allows a user to manage their Funds and transact using them.

1.4            “Digital Asset” means any digital asset (including a virtual currency or virtual commodity) which is a digital representation of value based on (or built on top of) a cryptographic protocol of a computer network, that may be purchased or used using our Services.

1.5            “Digital Asset Account” means any Digital Asset address or account beneficially owned, controlled or operated by you that is maintained outside of the Services, and is not owned, controlled or operated by CryptoSmartlife.

1.6            “External Account” or “Verified External Account” means any Financial Account or Digital Asset Account of which you are the beneficial owner: (i) from which you may load Funds into your CryptoSmartlife Account, and (ii) to which you may transfer Funds from your CryptoSmartlife Account, if allowed.

1.7            “Financial Account” means any financial account of which you are the beneficial owner that is maintained by a third party outside of the Services, including, but not limited to third-party payment service accounts or accounts maintained by third party financial institutions such as banks.

1.8            “Force Majeure Event” means any event beyond CryptoSmartlife's reasonable control, including but not limited to flood, extraordinary weather conditions, pandemics, epidemics, earthquake, fire, war, insurrection, riot, labor dispute, accident, action of government, communications or power failure, equipment or software malfunction or other act of God.

1.9        “Funds” means Digital Asset and/or Legal Tender.

1.10        “KYC” means know your customer requirements as determined by us to ensure compliance with applicable law; 

1.11        “Legal Tender” means any national currency, such as INR or USD, that may be used through the Services and does not include any Digital Asset.

1.12        “Platforms” means the website https://www.cryptosmartlife.com/ (including related domains), CryptoSmartlife mobile applications and other platforms operated by CryptoSmartlife.

1.13        “Services” means the services offered by CryptoSmartlife including access to the Platforms, trading, direct sale, Baskets, and other services.

1.14        “you” or “your” refers to you, a user of our Services.

2            Eligibility

2.1            CryptoSmartlife may not make the Services available in all markets and jurisdictions, and may restrict or prohibit use of the Services from certain jurisdictions (“Restricted Locations”).

2.2            If you are registering to use the Services on behalf of a legal entity, you represent and warrant that:

2.2.1            such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and

2.2.2            you are duly authorized by such legal entity to act on its behalf.

2.3            You further represent and warrant that you:

2.3.1            are of legal age to form a binding contract (at least 18 years old or the age of attaining adulthood in your jurisdiction);

2.3.2            have not previously been suspended or removed from using our Services;

2.3.3            have full power and authority to enter into these Terms and in doing so will not violate any other agreement to which you are a party;

2.3.4            are not in breach of, and will not breach any applicable laws, including without limitation the AML Regulations, the Indian Foreign Exchange Management Act, 1999 and the Indian Income Tax Act, 1961;

2.3.5            are not located in, under the control of, or a national or resident of (i) any Restricted Locations, or (ii) any country to which India has embargoed goods or services;

2.3.6            will provide CryptoSmartlife true, accurate, complete, and updated information, wherever information is sought by it;

2.3.7            are not identified as a “Specially Designated National” by the U.S. Treasury’s Office of Foreign Assets Control (OFAC);

2.3.8            are not on any trade or economic sanctions lists, including but not limited to lists circulated by United Nations Security Council, US Department of the Treasury’s Office of Foreign Assets Control, the US Department of State, the European Union, Her Majesty’s Treasury, the Hong Kong Monetary Authority, or the Monetary Authority of Singapore;

2.3.9            are aware of the financial and other risks involved with trading in Digital Assets. You have carefully assessed your financial standing and risk tolerance and procured legal advice. You are willing and financially able to assume all risks related to trading of Digital Assets; and

2.3.10         will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.

2.4            CryptoSmartlife may condition your access or continued access to certain Services (or features of those Services), such as by imposing eligibility requirements. CryptoSmartlife will keep you informed of these through the Platform. CryptoSmartlife may require, on an ongoing basis, that you demonstrate to us that you continue to meet these requirements. CryptoSmartlife’s decisions with respect to eligibility are final.

3            CryptoSmartlife Account limitations per person

3.1            Number of CryptoSmartlife Accounts. CryptoSmartlife may, in its sole discretion, limit the number of CryptoSmartlife Accounts that you may hold, maintain or acquire.

3.2            CryptoSmartlife Account information and security. In order to use certain Services, you must create a CryptoSmartlife Account and provide any requested information. When you create a CryptoSmartlife Account, you agree to: (a) create a strong password that you do not use for any other website or online service; (b) provide accurate, current and truthful information; (c) maintain and promptly update your CryptoSmartlife Account information; (d) maintain the security of your CryptoSmartlife Account by protecting your password and restricting access to your CryptoSmartlife Account; (e) promptly notify us if you discover or otherwise suspect any security breaches related to your CryptoSmartlife Account; and (f) take responsibility for all activities that occur under your CryptoSmartlife Account and accept all risks of any authorized or unauthorized access to your CryptoSmartlife Account, to the maximum extent permitted by law.

3.3            KYC Requirements. You agree to provide us with any information we request as part of our KYC requirements. We may request such information during CryptoSmartlife Account set-up, or any other time deemed necessary by us. You understand that such information is necessary for us to comply with applicable law and to prevent illegal activities. If you fail to adhere to the KYC requirements, we may either reject creation of, or terminate, the said Account. You must inform us of any changes to information you’ve submitted as part of our KYC requirements (such as your address, place of residence etc.) as soon as practicable. You must also provide us a documentary proof of such changes within 3 (three) months from the date of such changes.

3.4            Verification. You authorise us to make inquiries, either directly or through qualified third parties, that are deemed necessary to verify your identity or to protect you and/or us against financial crimes such as fraud, etc. We may take such action as we deem necessary based on the results of such inquiries.

3.5            We reserve the sole discretion to open a CryptoSmartlife Account and may refuse to do so at our sole discretion.

4            Privacy Policy

 

Please refer to our Privacy Policy for information about how we collect, use and share your information.

5            General Obligations

 

These general obligations apply to: (i) all transactions made or proposed to be made using the Services, (ii) your purchase and/or utilisation of Digital Assets directly from CryptoSmartlife through the Services, and (iii) any transaction in which you load Funds into your CryptoSmartlife Account from your External Account.

5.1            Conditions and Restrictions. We may, at any time and in our sole discretion, refuse any transaction submitted through the Services, introduce limits on the transaction amounts or impose any other conditions or restrictions upon your use of the Services.

5.2            Accuracy of Information. You must provide any information required when prompted by any screen displayed within the Services.

5.3            Cancellations. You may only cancel a transaction initiated through the Services if such cancellation occurs before execution of the transaction. Once your transaction has been executed, you may not change, withdraw or cancel your authorization for CryptoSmartlife to complete such a transaction. If a transaction has been partially completed, you may cancel the unfulfilled remainder of the transaction, if permitted by CryptoSmartlife. Ordinarily, all transactions are irreversible once initiated and you do not have a right to seek cancellation of any transaction. We reserve the right to refuse any cancellation request associated with a transaction. 

5.4            Errors. You acknowledge and agree that we may correct, reverse, or cancel, at our sole discretion, any transaction if we discover that there was an error or abnormality, whether such error or abnormality was caused by you, us or a third party or due to technical issues, system issues, software failure or otherwise. We provide no warranty that any such attempt will be successful and will have no responsibility or liability for such error(s) or any correction attempt(s).

5.5            Gains and Losses. All gains, earnings, losses, costs, and liabilities made or incurred by you while using the Services or otherwise in connection with these Terms will be credited or debited to your CryptoSmartlife Account, as applicable.

5.6            Instructions. You authorise us to act upon any digital instructions transmitted by you. In this connection, we will have the permission to carry out your instructions or orders while using the Services. This includes making debits to the funds associated with your CryptoSmartlife Account to carry out your instructions.

5.7            Insufficient Funds. If you have insufficient Funds in your CryptoSmartlife Account to complete a transaction through the Services, we may cancel the entire transaction or may fulfill the transaction partly using the Funds currently available in your CryptoSmartlife Account (less any fees owed to CryptoSmartlife in connection with our execution of the transaction).

5.8            Trade confirmation. Once you execute your transaction through the Services, a confirmation will be electronically made available to you detailing the particulars of the transaction. You acknowledge and agree that any failure to provide such confirmation shall not prejudice or invalidate the terms of such transaction.

5.9            Trade options. Please refer to the transaction guidelines provided on our Platforms and/or in these Terms, for information about the terminology used in connection with the transaction options made available through the Services. If you do not understand the meaning of any transaction or Digital Asset jargon, we strongly encourage you not to utilize any of those transaction options and refrain from using our Services.

5.10        Market volatility. Particularly during periods of high volume, illiquidity, fast movement or volatility in the market for any Digital Assets or Legal Tender, the actual market rate at which a market order or trade is executed may be different from the prevailing rate indicated through the Services at the time of your order or transaction. You understand that we are not liable for any such price fluctuations. In the event of a market disruption or Force Majeure Event, CryptoSmartlife may do one or more of the following: (a) suspend access to the Services; or (b) prevent you from completing any actions through the Service. Following any such event, when transaction resumes, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.

5.11        Transaction Settlement. Subject to these Terms, we will use commercially reasonable efforts to settle transactions on a spot basis. However, owing to challenges of blockchain technology and distributed ledger technology network congestion, we may be unable to do so despite our reasonable efforts.

5.12        Taxes. It is your sole responsibility to determine what, if any, taxes apply to the transactions you complete through the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. Except as provided in these Terms, you agree that CryptoSmartlife is not responsible for determining whether taxes apply to your transactions or for collecting, reporting, withholding or remitting any taxes arising from any transactions. Where applicable, you authorize us to withhold tax and deposit it on your behalf in accordance with this Section 5.12 (General Obligations). Unless otherwise specified in these Terms, we will withhold tax at the rate of 1% (or at such rate(s) as specified under law) of the total transaction value or consideration (excluding Goods and Services Tax and our fee) paid for a Digital Asset. For this Section, you will be presumed to be an Indian resident if you provide us an Indian address while creating your CryptoSmartlife Account, unless you update such information later. Where we withhold tax, we will provide you with evidence of such withholding as per applicable law. However, you (and not us) remain solely responsible for ascertaining the total volume of relevant transactions carried out by you in a financial year and claim refund(s) from the tax authorities, if any.

6            CryptoSmartlife Account Funds

6.1            Funding your CryptoSmartlife Account. In order to complete a transaction through the Services, you must first load Funds to your CryptoSmartlife Account using one of the approved External Accounts identified through the Services. You may be required to verify that you control the External Account that you use to load Funds to your CryptoSmartlife Account. As further described herein, you may be charged fees by the External Account you use to fund your CryptoSmartlife Account. CryptoSmartlife is not responsible for any External Account fees or for the management and security of any External Account. You are solely responsible for your use of any External Account, and you agree to comply with all terms and conditions applicable to any External Account. The timing associated with a load transaction will depend in part upon the performance of third parties responsible for maintaining the applicable External Account, and CryptoSmartlife makes no guarantee regarding the amount of time it may take to load Funds into your CryptoSmartlife Account. When you make a transaction to fund your CryptoSmartlife Account using an External Account, it will be debited with the relevant amount.

6.2            Verification. We may require you to verify that you control the External Account and may seek documentation to verify this in accordance with our KYC requirements. We may conduct such verification periodically.  

6.3            About Funds held in your CryptoSmartlife Account. The Funds held in your CryptoSmartlife Account are exclusively for availing of the Services and executing Digital Asset transactions. These funds may be utilised for the purposes of availing our premium Services. You are not entitled to any interest on the Funds held in your CryptoSmartlife Account.

6.4            Legal Tender held in your CryptoSmartlife Account. Notwithstanding anything contained in Section 6.2 above, any Legal Tender transferred to your CryptoSmartlife Account or received from the sale of your Digital Assets is held by us in trust, on your behalf. You agree that you are not entitled to any interest on such amounts. 

6.5            Collection of Legal Tender. You understand that we may in the course of providing Services to you collect payments in Legal Tender on your behalf. You hereby appoint us as your authorized payment collection agent. Any payments due to you will be collected by us in our capacity as your authorised payment collection agent. You understand and acknowledge that we are not providing access to a regulated payment system or acting as a payment aggregator while doing so.

6.6            Transferring Funds to an External Account. You may transfer the Funds in your CryptoSmartlife Account to an External Account. Such transactions will be subject to: (a) Funds being available for withdrawal and being in excess of the amount needed to satisfy any open transactions; (b) restrictions set forth in these Terms; (c) our satisfaction that the External Account belongs to you and not to any other person; and (d) restrictions under applicable law. You understand that we may levy a fee for such withdrawal of Funds. Such fee will be deducted from your CryptoSmartlife Account.

6.7            Load/Transfer Authorization. When you request that we load Funds into your CryptoSmartlife Account from your External Account or request that we transfer Funds to your External Account from your CryptoSmartlife Account, you authorize CryptoSmartlife to execute such transactions through its Services.

6.8            Rejected Transactions. In some cases, the External Account may reject your Funds or may otherwise be unavailable to receive your Funds. You agree that we do not control such transactions and you will not hold CryptoSmartlife liable whatsoever for any losses or damages resulting from such rejected transactions.

6.9            CryptoSmartlife does not accept funds from any prohibited sources such as hacks, frauds, terrorist activity etc

7            Third Party Transactions

 

This Section 7 (Third Party Transactions) applies only when you use the Services to transact in Digital Assets for Legal Tender, or to trade Digital Assets for another form of Digital Assets with third parties using our Services. Section 9 (Transactions with Us) governs the Digital Asset transactions you enter into with us.

7.1            Authorization. When you submit a new transaction through the Services, you authorize CryptoSmartlife to execute a transaction for offering you premium features of the Platform.

7.2            Independent relationship. When you buy or sell Digital Assets pursuant to this Section 7 (Third Party Transactions), you acknowledge and agree that: (a) CryptoSmartlife is not acting as your broker, intermediary, agent, or advisor or in any fiduciary capacity, and (b) no communication or information provided to you by CryptoSmartlife shall be considered or construed as legal advice. You are transacting as per your own will.

7.3            Parties. When you buy or sell Digital Assets pursuant to this Section 7 (Third Party Transactions) using our Services, you are not buying Digital Assets from us or selling Digital Assets to us. We facilitate that purchase or sale between you and third parties. In such cases, the Platform is merely a technology platform allowing you to carry out transactions in accordance with your choice. And you acknowledge that the contract for sale of any of the Digital Assets is strictly a bipartite contract between you and the third-party seller or the buyer.

7.4            Multiple Trades.  In seeking to fulfil the completion of a single trade by you, at times we may have to execute multiple inter-related trades with various third parties. You authorise us to execute all such trades on your behalf as are necessary for completion of the transactions you execute.

7.5            Digital Asset transaction rates. If you select a transaction to buy or avail Digital Assets, CryptoSmartlife will attempt, on a commercially reasonable basis, to execute the transaction on or close to the prevailing market exchange rate. However, you understand that the exchange rates offered through our Services are close-ended and may differ from the exchange rates outside our Services. You understand that the exchange rate offered may be a function of multiple factors including our cost mark-up and our use of third-party services.

8            Risk Disclosure

8.1            Transaction risks. You acknowledge and agree that you shall access and use the Services at your own risk. The risk of loss in transacting Digital Asset can be substantial. You should, therefore, carefully consider whether such transacting is suitable for you in light of your circumstances and financial resources. You should be aware of the following points when trading in Digital Assets:

8.1.1            You may sustain a total loss of the Funds in your CryptoSmartlife Account, and, in some cases, you may incur losses beyond such Funds.

8.1.2            Once listed, placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.

8.1.3            All Digital Asset positions involve risk, including a risk of your inability to utilise certain Digital Assets for their intended purpose using our Services.

8.1.4            The use of leverage can work against you as well as for you and can lead to large losses as well as gains.  

8.1.5            Digital Assets are subject to frequent fluctuations in value and exchange rates, and the value of your Digital Assets may increase or decrease at any time. Resultantly, there can be a substantial risk that you lose money buying, selling, holding, or investing in Digital Assets. You should consult your financial advisor, legal or tax professional regarding your specific situation and financial condition and carefully consider whether trading or holding Digital Assets is suitable for you. Trading in Digital Assets may not be appropriate for all investors.

8.1.6            Instances of security breaches or adverse regulatory changes may detrimentally affect the value of, and your ability to possess, or trade, Digital Assets. Actual or potential regulatory actions or enhanced regulatory scrutiny of Digital Asset businesses may adversely affect our business, including our ability to offer all or part of the Services. As a result, such regulatory action or scrutiny may also adversely affect your ability to access, use, transfer, withdraw, or exchange your Funds.

8.2            Apart from the risks we’ve identified here, there may be additional risks involved in Digital Asset transactions and we cannot foresee and disclose all such risks.

8.3            Internet transmission risks. You acknowledge that there are risks associated with utilizing an internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that CryptoSmartlife shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when trading through the Services, however caused.

9            Transactions with Us

 

Notwithstanding anything to the contrary in these Terms, this Section 9 (Transactions with Us) applies to your use of the Services to purchase Digital Assets directly from CryptoSmartlife. This service may be available in limited jurisdictions.

9.1            Prices; Availability. All Digital Asset prices reflect the rates applicable to the purchase of Digital Assets, whether in Digital Assets or Legal Tender. All Digital Asset sales and purchases by CryptoSmartlife are subject to availability, and we reserve the right to discontinue the sale and purchase of Digital Assets without notice.

9.2            Quotes. Prior to completing your purchase of Digital Assets from CryptoSmartlife, we will provide notice of the amount of Digital Assets you intend to purchase and the amount of Funds you will be required to pay to CryptoSmartlife to receive such Digital Assets. You agree to comply with any terms and conditions provided within such notice to complete your purchase transaction.

9.3            Errors. In the event of an error, whether through our Services, in a transaction confirmation, transaction processing, or otherwise, we reserve the right to correct such error and revise your transaction accordingly (including charging the correct price) or to cancel the transaction  and refund any Funds received. Your sole remedy in the event of an error is to obtain a refund of any Funds paid, if applicable.

9.4            Payment Method. Only valid payment methods specified by us may be used to purchase Digital Assets from us. By placing an order to purchase Digital Assets from CryptoSmartlife, you represent and warrant that (a) you are authorized to use the designated payment method and (b) you authorize us, or our payment processor, to charge your designated payment method. If the payment method you designate cannot be verified, is invalid or is otherwise not acceptable, your purchase order may be suspended or cancelled automatically. You agree to resolve any problems we encounter in order to proceed with your purchase order.

9.5            No Returns or Refunds. All sales and purchases of Digital Assets by CryptoSmartlife through the Services are final. We do not accept any returns or provide refunds for your purchase of Digital Assets from CryptoSmartlife, except as otherwise provided in these Terms.

10         Baskets

10.1        CryptoSmartlife may facilitate investment based on certain Baskets made available on its Services. These Baskets may be curated by CryptoSmartlife or third parties.

10.2        Every purchase or sale of Digital Assets in accordance with a Basket may be subject to a minimum value mentioned against such Basket. You are not allowed to purchase or sell Digital Assets in fractional units of a Basket. Please note that the minimum value of a Basket may be revised from time to time.

10.3        We do not charge a fee for suggesting Baskets to you. However, transactions in Digital Assets may still be subject to Fees.

10.4        We are not a registered broker, investment advisor, research analyst or an exchange. Further, the Baskets are not approved by or registered with any securities regulators such as the Securities and Exchange Board of India. The Baskets are for informative and suggestive purposes for the public at large. We do not offer any bespoke advice or recommendations to any users through our Services.

10.5        Past performance does not guarantee future returns and the performance of Baskets are subject to market risks. Apart from the risks we’ve identified and disclosed in these Terms, you should also do your due diligence to ascertain the risks relating to purchasing, trading, and holding Digital Assets forming part of Baskets.

10.6        The Baskets we create are based on publicly available information. The content and data available on our Services relating to Baskets, including but not limited to current value and historical returns are for information and illustration purposes only. Data used for the calculation of historical returns and other information is sourced from publicly available information and has neither been audited nor validated by us.

10.7        Cryptosmartlife is not responsible, incase any liquidity partner delist any cryptocurrency or token

11         Fees

11.1        Amount of Fees. You agree to pay CryptoSmartlife the transaction fees for transactions undertaken through our Services, as notified through our Platforms ("Fees"). You understand that the Fee may change from time to time. Changes to Fee are effective as of the effective date indicated on our Platforms and will apply prospectively to any trades that take place following the effective date of such revised Fee.

11.2        Third-Party Fees. In addition to the Fees, your External Account may impose fees in connection with your use of your designated External Account through the Services. Any fees imposed by your External Account provider will not be reflected on the transaction screens containing information regarding applicable Fees. You are solely responsible for paying any fees imposed by an External Account provider.

11.3        Network Fee. Some Digital Asset transactions may also incur a network fee. We will calculate the applicable network fee and notify you before the time you authorize a transaction.

11.4        Indirect Taxes. In addition to the Fee, you will be liable to pay the applicable indirect taxes on the transactions executed using the Services. The total price communicated to you before confirming the execution of a transaction would be inclusive of our Fee, network fees, if any, and applicable indirect taxes.

11.5        Payment of Fees. You authorize us, or our designated payment processor, to charge or deduct your CryptoSmartlife Account Funds for any applicable sums owed in connection with transactions you undertake through the Services.

11.6        Collection-Related Costs. If you fail to pay Fees or any other amounts owed to CryptoSmartlife under these Terms, CryptoSmartlife may refer your account(s) to a third party for collection. In such an event, you must pay collection charges at 18% per annum (or other maximum percentage permitted by applicable law) on the outstanding amount, to cover CryptoSmartlife's collection-related costs.

11.7        Reporting. You understand that we may report information with respect to your transactions, payments, transfers, or distributions made by or to you with respect to your activities using the Services to a tax or governmental authority to the extent such reporting is required by applicable law.

12         Electronic Notices

12.1        Consent to Electronic Delivery. You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, "Communications") that CryptoSmartlife provides in connection with your CryptoSmartlife Account and/or use of the Services. You agree that CryptoSmartlife may provide these Communications to you by posting them through the Services, by emailing them to you at the email address you provide, and/or by sending an SMS or text message to a mobile phone number that you provide. Your carrier's normal messaging, data and other rates and fees may apply to any mobile Communications. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy. You may also contact us through email support to request additional electronic copies of Communications.

12.2        Withdrawal of Consent. You may withdraw your consent to receive non-essential electronic Communications by sending a withdrawal notice to support. If you decline or withdraw consent to receive non-essential electronic Communications, CryptoSmartlife may still send you certain essential Communications relating to your use of the Services. If you opt out of receiving all Communications from us, we may need to terminate your use of the Services. Unsubscribe requests submitted to us may take up to 10 business days to process.

12.3        Requesting Paper Copies. If, after you consent to receive Communications electronically, you would like a paper copy of a Communication we previously sent you, you may request a copy within 30 days after the date we provided the Communication to you by contacting support. In order for us to send paper copies to you, you must have a current street address on file with CryptoSmartlife. Please note that CryptoSmartlife operates exclusively online and it is very burdensome for us to produce paper copies of Communications. Therefore, if you request paper copies, you understand and agree that CryptoSmartlife may charge you a processing fee, as a fee for each page of Communication requested.

12.4        Updating Contact Information. It is your responsibility to keep your email address and/or mobile phone number on file with CryptoSmartlife up to date so that CryptoSmartlife can communicate with you electronically. You understand and agree that if CryptoSmartlife sends you an electronic Communication but you do not receive it because your email address or mobile phone number on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, CryptoSmartlife will be deemed to have provided the Communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add CryptoSmartlife to your email address book so that you will be able to receive the Communications we send to you. You can update your email address or mobile phone number at any time by logging into your CryptoSmartlife Account or by sending such information to support. If your email address or mobile phone number becomes invalid such that electronic Communications sent to you by CryptoSmartlife are returned, CryptoSmartlife may deem your CryptoSmartlife Account to be inactive, and you may not be able to complete any transaction through our Services until we receive a valid, working email address or mobile phone number from you.

13         Unclaimed Property

 

If for any reason CryptoSmartlife is holding Funds in your CryptoSmartlife Account on your behalf, and CryptoSmartlife is unable to return your Funds to your designated External Account after a period of inactivity, then CryptoSmartlife may report and remit such Funds in accordance with applicable unclaimed property laws.

14         Acceptable Use

14.1        When accessing or using the Services, you agree that you will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Services. Without limiting the generality of the foregoing, you agree that you will not:

14.1.1         use our Services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;

14.1.2         engage in any activity or post any content that is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, paedophilic, libellous, invasive of another’s privacy, hateful, or racially, ethnically objectionable, disparaging, relating to or, or otherwise unlawful in any manner whatever as prohibited by the laws in force;

14.1.3         engage in any activity or post any content that harms minors in any way, infringes any intellectual property rights of a third person, deceives or misleads any person, is grossly offensive or menacing in nature, impersonates another person, exploits the Services for any unauthorized commercial purpose, or is false, incorrect, inaccurate, or fraudulent;

14.1.4         engage in any activity that threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offense or is insulting to other nations;

14.1.5         engage in malicious trading, market abuse, market manipulation, insider trading or similar offences;

14.1.6         use our Services to pay for, support or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or other illegal activities;

14.1.7         use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access our Services or to extract data;

14.1.8         modify, adapt, translate, or reverse engineer any portion of the Services;

14.1.9         probe, scan, or test the vulnerability of any system, security or authentication measures implemented by us, or otherwise tamper or attempt to tamper with the Platform’s technological design and architecture;

14.1.10      Use or attempt to use another user's account without authorization;

14.1.11      Use or attempt to use the proceeds of an unlawful activity;

14.1.12      Distribute or publish any unsolicited marketing/advertisements;

14.1.13      Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;

14.1.14      Develop any third-party applications that interact with our Services without our prior written consent;

14.1.15      Provide false, inaccurate, or misleading information; and

14.1.16      Encourage or induce any third party to engage in any of the activities prohibited under this Section 14 (Acceptable Use).

14.2        You must promptly notify us of any actual or potential violation of these Terms that come to your knowledge.

14.3        We reserve the right to disclose any information (including the identity of the persons uploading or hosting such information) as necessary to satisfy any law, regulation, valid governmental request or as necessary in our opinion for the resolution of an offence.

14.4        We reserve the right to unilaterally determine whether you have violated these Terms and take action against such violation, without any prior notice. Such actions may include, but are not limited to:

14.4.1         blocking and closing order requests;

14.4.2         freezing your Funds or suspending your CryptoSmartlife Account;

14.4.3         suspending your access to all or a part of our Services;

14.4.4         reporting the incident to authorities;

14.4.5         publishing the alleged violations and actions that have been taken; and

14.4.6         removing any violative content from the Services.

15         Feedback

15.1        We will own exclusive rights, including all intellectual property rights, to any feedback, suggestions, ideas or other information or materials regarding CryptoSmartlife or our Services that you provide, whether by email, posting through our Services or otherwise ("Feedback"). Any Feedback you submit is non-confidential and shall become the sole property of CryptoSmartlife. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to the Feedback (including any copyrights or moral rights). Do not send us Feedback if you expect to be paid or want to continue to own or claim rights in them; your idea might be great, but we may have already had the same or a similar idea and we do not want disputes.

15.2        We also have the right to disclose your identity to any third party who is claiming that any content posted by you constitutes a violation of their intellectual property rights, or of their right to privacy. We have the right to remove any posting you make on our website if, in our opinion, your post does not comply with our content standards.

16         Copyrights and Other Intellectual Property Rights

16.1        Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on the Platforms or provided in connection with the Services, including, without limitation, the CryptoSmartlife logo and all designs, text, graphics, pictures, information, data, software, sound files, other files and the selection and arrangement thereof (collectively, "CryptoSmartlife Materials") are the proprietary property of CryptoSmartlife or our licensors or suppliers and are protected by applicable copyright laws and other intellectual property rights laws.

16.2        We hereby grant you a limited, non-exclusive and non-sublicensable license to access and use the CryptoSmartlife Materials for your personal or internal business use. Such license is subject to these Terms and does not permit (a) any resale of the CryptoSmartlife Materials; (b) the distribution, public performance or public display of any CryptoSmartlife Materials; (c) modifying or otherwise making any derivative uses of the CryptoSmartlife Materials, or any portion thereof; or (d) any use of the CryptoSmartlife Materials other than for their intended purposes. The license granted under this Section will automatically terminate if we terminate your access to the Services.

17         Trademarks

 

""CryptoSmartlife", the CryptoSmartlife logo and any other CryptoSmartlife product or service names, logos or slogans that may appear on our Services including without limitation any metatags or other "hidden text" utilizing any trademark, product or service names (collectively, "Marks") are trade names and/or trademarks of us or our licensors and may not be copied, imitated or used, in whole or in part, without our prior written permission. In addition, the look and feel of our Services, including all page headers, custom graphics, button icons and scripts, is the service mark, trademark and/or trade dress of CryptoSmartlife or its licensors and may not be copied, imitated or used, in whole or in part, without our prior written permission. All other trademarks, registered trademarks, product names and company names or logos mentioned through our Services are the property of their respective owners. Reference to any products, services, processes or other information, by name, trademark, manufacturer, supplier or otherwise does not constitute or imply endorsement, sponsorship or recommendation by us.

18         Third-Party Content

18.1        In using our Services, you may view content provided by third parties, including links to web pages of such parties, including but not limited to Facebook and Twitter links (“Third-Party Content”). We do not control, endorse or adopt any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable.

18.2        Your dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of third party services, and your interactions with third parties, is at your own risk. Any use of third party services is governed solely by the terms and conditions of such third party services and any contract entered into, or any transaction completed through any third party services, is between you and the relevant third party, and not with us. You must comply in all respects with all applicable terms of the third party services that you access or subscribe to in connection with such services. If at any time any third party services cease to make their products available to us on reasonable terms, we may cease to provide such features to you, without entitling you to refund, credit, or other compensation.

18.3        You authorize CryptoSmartlife to share your personal information such as identity and banking information with the third parties you interact with using our Services. Such personal information will be dealt with in accordance with our Privacy Policy and such third party’s privacy policy.

19         Suspension; Termination

19.1        In the event of any Force Majeure Event, breach of these Terms, or any other event that would make provision of the Services commercially unreasonable for CryptoSmartlife, we may, in our discretion and without liability to you, with or without prior notice, suspend or terminate your access to all or a portion of our Services and/or delete or deactivate your CryptoSmartlife Account.

19.2        We may decline to process any deposits or withdrawal without prior notice and may limit or suspend your use of one or more Services at any time, at our sole discretion. For example, we may, at our sole discretion, not process, withhold, suspend, pause, or hold the deposits or withdrawals if we believe the transaction is suspicious, may involve fraud or misconduct, violates applicable laws, or violates these Terms. If you have a balance remaining in a CryptoSmartlife Account which has been suspended, we may freeze such balance for so long as the CryptoSmartlife Account is suspended.

19.3        You may terminate your CryptoSmartlife Account at any time by writing to us at [Bhavik.Vala@cryptosmartlife.com]. You must pay any outstanding amounts owed to us before your CryptoSmartlife Account is terminated. Any pending transactions at the time of termination of CryptoSmartlife Account will be cancelled.

19.4        Effect of Termination:

 

19.4.1         In the event of termination, CryptoSmartlife will attempt to return any Funds stored in your CryptoSmartlife Account not otherwise owed to CryptoSmartlife. However, Funds may not be returned if: (i) such return is prohibited under applicable law, including applicable sanctions programs; (ii) required by a valid court order; or (c) withholding Funds is necessary for compliance with applicable law in our discretion.

19.4.2         Notwithstanding anything contained in this Section 19 (Suspension; Termination), we reserve the right to retain and use the transaction data or other information related to a CryptoSmartlife Account after termination, in the manner specified in these Terms and our Privacy Policy.

20        Discontinuance of Services

 

We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services.

21         Disclaimers

21.1        Except as expressly provided to the contrary in a writing by us, our Services are provided on an “as is” and “as available” basis. We expressly disclaim and you waive, all warranties of any kind, whether express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement as to our Services, including the information, content and materials contained therein.

21.2        You acknowledge that information you store or transfer through our Services may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including software failures, protocol changes by third party providers, internet outages, force majeure event or other disasters including third party DDOS attacks, scheduled or unscheduled maintenance, or other causes either within or outside our control. You are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through our Services.

21.3        We do not make any representations or warranties that access to the Services, any part of the Services, or any of the materials contained therein, will be continuous, uninterrupted, timely, or error-free. We do not guarantee that any order will be executed, accepted, recorded or remain open. Except for the express statements set forth in these Terms, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to your use and access of the Services. Without limiting the foregoing, you hereby understand and agree that we will not be liable for any losses or damages arising out of or relating to: (i) any inaccuracy, defect or omission of Digital Asset price data, or any error, delay or interruption in the transmission of such data; (ii) viruses or other malicious software obtained by accessing our websites, software, systems operated by us or on our behalf or any of the Services or any website or service linked to our Services; (iii) glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems operated by us or on our behalf or any of the Services; or (iv) a suspension or other action taken with respect to your CryptoSmartlife Account.

21.4        You expressly acknowledge and agree that use of the Services is at your sole risk. We cannot control the quality, security, or legality of the Digital Assets in any transaction, truthfulness of the transaction information, or capacity of the parties to any transaction to perform their obligations. You must carefully consider the associated investment risks, legal status and validity of the transaction information and investment decisions prior to your use of the Services.

21.5        You acknowledge and agree that we are not a financial institution, bank, credit union, trust, hedge fund, broker or investment or financial advisor, and are not subject to the same laws, regulations, directives, or requirements applicable to such persons. You acknowledge and agree that no oral or written information or advice provided by us, our officers, directors, employees, or agents, nor any information obtained through the Services, will constitute investment or financial advice. You are solely and exclusively responsible for all trading decisions made by you while using the Services. We do not give advice or recommendations regarding the trading of Digital Assets, including their suitability and appropriateness, or provide investment strategies for any Digital Assets. We will not be held responsible for the decisions you make to buy, sell, or hold Digital Assets based on the information provided by us.

21.6        We do not own or control the underlying software protocols which govern the operation of Digital Assets. The underlying protocols may be open source and may be subject to risks typically associated with open source software. We assume no responsibility for the operation of the underlying protocols and do not guarantee the functionality or security of network operations. You agree and understand that the underlying protocols of different Digital Assets and their networks are subject to changes in operating rules (each a “Fork”) which may result in more than one version of such network (each a “Forked Network”). You further agree and understand that Forks may materially affect the value, function, and/or name of the Digital Assets held by you with us. In the event of any such operational change, we reserve the right to take such steps as may be necessary to protect the security and safety of Digital Assets held with us, including without limitation, temporarily suspending operations for the involved Digital Asset(s). Our response to any operating change is subject to our sole discretion and may include deciding not to support any new Fork, or other actions. You acknowledge and accept the risks of operating changes to Digital Asset protocols and agree that we are not responsible for such operating changes and not liable for any loss of value you may experience because of such changes in operating rules.

21.7        Some jurisdictions do not allow the disclaimer of implied terms in contracts with consumers, so some or all of the disclaimers in this section may not apply to you.

22        Limitation of Liability

22.1        To the extent permitted by applicable law, in no event shall we, our affiliates and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors (“CryptoSmartlife Parties”) be liable for any special, indirect or consequential damages, or any other damages of any kind, including but not limited to loss of use, loss of profits or loss of data, whether in an action in contract, tort (including but not limited to negligence) or otherwise, arising out of or in any way connected with the use of or inability to use our Services. This includes any damages caused by or resulting from reliance on any information obtained from us or our Services, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a Force Majeure Event, communications failure, theft, destruction or unauthorized access to records, programs or services.

22.2        Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the limitations of this section may not apply to you.

22.3        To the maximum extent permitted by applicable law, in no event shall the aggregate liability of CryptoSmartlife Parties whether in contract, warranty, tort (including negligence, whether active, passive or imputed), product liability, strict liability or other theory, arising out of or relating to the use of, or inability to use our Services or to these Terms exceed the Fees paid by you to CryptoSmartlife during the 6 months immediately preceding the date of any claim giving rise to such liability.

22.4        You acknowledge and agree that your sole remedy for any suspension, cancellation, or termination of the CryptoSmartlife Account or for cessation of any or all Services will be refund/recovery of your Funds, subject to deductions of amounts owed to us and other legal, regulatory, or statutory dues, and to the permissibility of such refund or recovery under applicable law.

23        Indemnity

 

You agree to defend, indemnify and hold harmless CryptoSmartlife Parties from and against any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to (a) your use of, or conduct in connection with, our Services; (b) any Feedback you provide; (c) your violation of these Terms or applicable law; or (d) your violation of any rights of any other person or entity. If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it.

24        Applicable Law; Arbitration

24.1        The laws of India excluding its conflict of law provisions, will govern these Terms and any dispute that arises between you and us.

24.2        Subject to Section 24.3 below, the parties submit to the non-exclusive jurisdiction of the courts as determined by CryptoSmartlife in case of any disputes that may arise in respect of or relating to these Terms.

24.3        You and CryptoSmartlife agree to arbitrate any dispute arising from these Terms or your use of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. The arbitration will be conducted in accordance with the fast-track provisions of the Indian Arbitration & Conciliation Act, 1996 by a sole arbitrator appointed with the mutual consent of the parties. The seat/place of such arbitration will be determined by CryptoSmartlife. The language to be used in such proceedings is English. You and we agree that all materials and documents exchanged during the arbitration proceedings must be kept confidential and must not be shared with anyone except the parties’ attorneys, accountants, or business advisors, subject to the condition that they agree to keep all materials and documents exchanged during the arbitration proceedings confidential.  

24.4        Whether the dispute is heard in arbitration or in court, you and CryptoSmartlife will not commence a class action, class arbitration or representative action or proceeding.

25        Miscellaneous

25.1        Entire Agreement; Order of Precedence. These Terms (including all annexures, addendums, schedules and policies incorporated herein) contain the entire agreement and supersede all prior and contemporaneous understandings between the parties regarding the Services. These Terms do not alter the terms or conditions of any other electronic or written agreement you may have with CryptoSmartlife for the Services or for any other CryptoSmartlife product or service or otherwise. In the event of any conflict between these Terms and any other agreement you may have with CryptoSmartlife, the terms of that other agreement will control only if these Terms are specifically identified and declared to be overridden by such other agreement.

25.2        Amendment. We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion, by posting the amended Terms through the Platforms or by communicating these changes through any written or other contact method we have established with you. The amended Terms will be effective immediately and your use of the Services following the date on which such amended Terms are published will constitute consent to such amendments.

25.3        Waiver. Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.

25.4        Severability. The invalidity or unenforceability of any part of these Terms shall not affect the validity or enforceability of any remaining Terms, all of which shall remain in full force and effect.

25.5        Force Majeure Events. CryptoSmartlife shall not be liable for any inaccuracy, error, delay in performance or interruption of the Services, or any losses, damages or expenses which result directly or indirectly from a Force Majeure Event.

25.6        Assignment. You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from CryptoSmartlife, including by operation of law or in connection with any change of control. CryptoSmartlife may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.

25.7        Headings. Headings of sections are for convenience only and shall not be used to limit or construe such sections.

25.8        Survival. Any Sections intended by their nature to survive termination and Sections 11 (Fees), 12 (Electronic Notices), 13 (Unclaimed Property), 15 (Feedback), 16 (Copyrights and other intellectual property rights), 17 (Trademarks), 19.4 (Suspension; Termination), 22 (Limitation of Liability), 23 (Indemnity), 24 (Applicable Law; Arbitration) and this Section 25 (Miscellaneous) shall survive any termination or expiration of these Terms.

26        Jurisdiction-specific Legal Disclosures

 

CryptoSmartlife maintains licenses and registrations in certain jurisdictions to provide you our Services. These licenses or registrations may impact our provision and your use of our Services depending on where you live or are domiciled. Information regarding CryptoSmartlife’s licenses and registrations, or lack thereof, and corresponding disclosures (“Disclosures”) can be found on the Platforms. These Disclosures are incorporated into these Terms by reference. By creating a CryptoSmartlife Account, you acknowledge that you have read, understand and agree to the applicable Disclosures.

27        Disclosure Statement

27.1        We are furnishing this statement to you to provide some basic facts about purchasing Digital Assets and to alert you to the risks involved with trading Digital Assets. Before trading Digital Assets, you should carefully review this disclosure statement. Please contact us through support regarding any questions or concerns you may have with your margin accounts.

27.2        When you purchase new Digital Assets for existing Digital Asset or vice versa, you may pay in full with your own Funds or by posting the Digital Assets in your CryptoSmartlife Account as collateral, with funds (stakes) provided by CryptoSmartlife to you. If the collateral supporting your transaction declines in value by an amount specified by CryptoSmartlife, you authorize CryptoSmartlife to issue a margin call and/or sell the assets in your CryptoSmartlife Account, in order to maintain the minimum margin requirement.

27.3        It is important that you fully understand the unique risks involved in transacting in Digital Assets before determining whether such trading is appropriate for you. These risks include the following:

27.3.1         Using digital asset to support spot transactions poses a high degree of financial risk and is not suitable for everyone. The use of leverage can work against you as well as for you and can lead to large losses as well as gains. You should examine your financial objectives, financial resources and risk tolerance to determine whether receiving Digital Assets against the assets in your CryptoSmartlife Account is appropriate for you.

27.3.2         You can rapidly lose all of the Funds you deposit for trading and may lose more Funds than you deposit in your CryptoSmartlife Account. The prices of Digital Assets are highly volatile and a decline in the value of assets that are purchased or sold may require you to provide additional funds to us, on short notice or with no notice, to avoid the automatic liquidation of assets in your account(s).

27.3.3         You authorize us to sell assets in your CryptoSmartlife Account without further notice to you. If the equity in your CryptoSmartlife Account  falls below our margin requirements to offer you Digital Assets, you authorize CryptoSmartlife to sell assets in your CryptoSmartlife Account  to cover the deficiency. You will be responsible for any shortfall in the CryptoSmartlife Account  after such a sale. As Digital Asset markets are open 24 hours a day, 7 days a week, calls and liquidations may occur at any time, including outside of normal business hours.

27.3.4         You authorize us to sell your assets without contacting you. We will attempt to notify you of transaction calls, but we are not required to do so specifically other than what is shown to you on screen during the transaction of the Digital Asset. Moreover, even if we have contacted you and provided a specific date by which you must meet a transaction balance, we may still immediately sell assets in your CryptoSmartlife Account without notice to you and without waiting for the specific date to meet a requirement.

27.3.5         We can increase maintenance requirements with advance notice. The maintenance requirements may result in the issuance of a maintenance call. Your failure to satisfy the call may cause us to liquidate or sell assets in your CryptoSmartlife Account. We are not responsible for delays in the release of Funds intended to satisfy the call, including but not limited to internal holds on Funds exceeding verification limits, delays in the transfer of Funds from Financial Accounts, and failure of proper routing of funds through financial networks. The Funds will not count towards meeting the maintenance requirements until the Funds are released.

28        Grievance Officer

 

If you have any complaints, feedback, or questions, please write to our grievance officer [Bhavik Vala] at    [Bhavik.Vala@cryptosmartlife.com].

 

 

Addendum: Third Party Exchange Accounts

 

1.     We may, in our sole discretion facilitate purchase or sale of Digital Assets in proportion to the ratio listed in Baskets using the services of a third-party Digital Assets exchange (“Exchange”) and/or wallets integrated on the CryptoSmartlife platform.

 

2.     To execute such transactions on the Exchange, you must link your CryptoSmartlife Account to your account with the Exchange (“Exchange Account”) and/or wallets. We will authenticate your Exchange Account through applicable processes. By linking your Exchange Account:

 

a.        You understand that we will (i) have access; (ii) process; (iii) and store information provided by you and contained in your Exchange Account, including your email address as linked to your Exchange Account.

 

b.       You authorize us to send transaction instructions, received from you for the purchase or sale of Digital Assets, to your Exchange Account on your behalf. However, you understand your Exchange executes such instructions and not us. Accordingly, any debits or credits to your Exchange Account will also be carried out by your Exchange, as per your instructions.  

 

c.        If your Exchange Account becomes unavailable or our access to the same is terminated by the Exchange or you, you will not be able to use this service.

 

d.       CryptoSmartlife is not responsible incase your connected exchange and/or wallet is hacked by outside sources.

 

e.        Your use of the Exchange and the Exchange Account will continue to be governed by the Exchange’s applicable policies (including the relevant terms of use, privacy policy and such other policy as may be implemented from time to time).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Addendum: Anti-Money Laundering Addendum

 

CryptoSmartlife wants to ensure that no unethical or illegal practices take place using its Services. Accordingly, we have instituted some processes to verify your identity and to prevent any illegal activities through our Services. This Anti-Money Laundering Addendum ("AML Addendum") documents these processes.

 

This AML Addendum is a part of and incorporated within and is to be read along with our Terms. Words used in this AML Addendum, but not defined here, will have the meaning assigned to them in the Terms of Use. 

1.     Applicability

 

All users of our Services must abide by this AML Addendum. You must read this AML Addendum before accessing or using our Services. By accessing, browsing, or using the Services, you agree to this AML Addendum. If you do not agree to it, you must not access, browse or use the Services.

2.     Objective

 

The purpose of this AML Addendum is to document the processes we have in place to ensure ethical use of our Services. Some of these processes include:

a.        having a system in place for preventing money laundering, terror financing and any other illegal activities through our Services;

 

b.       conducting KYC verification of all our users;

 

c.        identifying, monitoring and reporting relevant transactions to appropriate authorities;  

 

d.       maintaining relevant records as per applicable law; and

 

e.        training our staff on the meaning of AML and counter-terrorism financing and their responsibilities pursuant to the applicable law.

 

3.     KYC Process

 

KYC is the guiding principle for AML measures. KYC of a user helps us understand the risk profile of our users and their financial dealings better. In turn, this information helps us comply with our AML obligations effectively. Our KYC process includes:

a.        verifying your identity using reliable sources;

 

b.       conducting on-going due diligence and scrutiny of your CryptoSmartlife Account to ensure that the transactions conducted are consistent with your risk profile; and

 

c.        obtaining sufficient information about you to identify who is the actual Beneficial Owner of your CryptoSmartlife Account or on whose behalf transactions in your CryptoSmartlife Account are conducted.

 

4.     Beneficial Owner

 

If you are a body corporate, we must identify the persons who have a material say in your decision making. Hence, we require you to share information which can help us identify your Beneficial Owners, if any. 

 

The term “Beneficial Owner” means:

 

• in case of companies, the natural person who has ownership of over 25% (twenty five per cent) of the shares, is entitled to over 25% (twenty five percent) of the profits, or has the power, directly or indirectly, to appoint or elect more than half of the board of directors of such company, as the case may be; and

 

• in case of partnership firms/Limited Liability Partnerships, the natural person who has ownership of over 15% (fifteen per cent) of the capital or is entitled to over 15% (fifteen per cent) of the profits of such firm, as the case may be.

5.     Compliance Officer

 

Our compliance/principal officer oversees the effective operation of this AML Addendum and compliance with the applicable law. We have appointed [Bhavik Vala] as our compliance/principal officer. You may reach him at [Bhavik.Vala@cryptosmartlife.com]. We have also appointed a designated director in compliance with the AML Regulations.

6.     Your Responsibilities

 

You must ensure:

a.        compliance with the terms described in this AML Addendum and refrain from using or attempting to use the Services in any manner which results in the commission of an offence;

 

b.       that the bank account/s you use to register with us are held only with a scheduled commercial bank and are compliant with all KYC procedures mandated under applicable law;

 

c.        that any personal information and/or identification documents submitted by you belong to you (and not to any other person); and

 

d.       that you file a fresh proof of address within 3 (three) months of making any changes to the address mentioned in the ‘proof of address’ submitted by you at the time of registration of the CryptoSmartlife Account.

 

7.     Risk Classification

 

a.        To ensure the safety of our Services, we may carry out a risk-assessment of our users, based on these factors among others:

·         identification information submitted by the user;

·         type of user;

·         nature and value of transactions undertaken; 

·         other usage of our Services; and/or

·         requirements under applicable law including any guidance issued by various governmental and inter-governmental organizations.

 

b.       You are not entitled to seek disclosure of your risk assessment. Based on the risk assessment, we may monitor and review your transactions more closely, enhance the KYC requirements, and/or report your transactions to relevant law enforcement authorities, as we deem appropriate.

 

8.     Transaction Monitoring and Maintenance of records

 

a.        Monitoring transactions and maintaining their records are essential to ensure AML safeguards. We maintain a record of all transactions executed and attempted to be executed on our Services. This record contains information including, without limitation:

·         the parties to a transaction;

·         the relevant IP addresses along with timestamps and timezones;

·         transaction ID;

·         public keys (or equivalent identifiers);

·         addresses or accounts involved (or equivalent identifiers);

·         the nature and date of a transaction; and

·         the amount involved in a transaction.

 

b.       We regularly monitor transactions to promptly identify and highlight certain kinds of transactions including:

·         Suspicious Transactions (as defined below);

·         transactions of value more than ten lakh rupees (INR 10,00,000) or its equivalent in Digital Assets/foreign exchange;

·         all series of transactions integrally connected to each other which have been individually valued below ten lakh rupees (INR 10,00,000) or its equivalent in Digital Assets/foreign currency, where such series of transactions have taken place within a month, and the monthly aggregate exceeds an amount of INR 10,00,000 or its equivalent in a Digital Asset/foreign currency.

 

9.     Retention of Records

We maintain and preserve the following information and/or data subject to applicable law:

a.        Records of all transactions executed on our Services, for a period of at least 5 (five) years from the date of each transaction.

b.       Records of transactions specifically identified above for a period of at least 5 (five) years, including but not limited to the information about the nature, value and parties to such transactions, and their date of remittance.

c.        Identification records of all our users including, KYC information submitted to us during the subsistence of and for a period of at least 5 (five) years from the date of termination of such user’s CryptoSmartlife Account.

 

10. Suspicious Transactions

 

a.        Under this AML Addendum, “Suspicious Transactions” mean the following:

 

·         Terrorist Financing: transactions which, in good faith appear to be used, in full or in part, by any terrorist or related organization, or in order to carry out any of the activities relating to terrorism, or terrorist acts; and/or

·         Unusually Complex: transactions which to a person acting in good faith appear to have been structured in a manner of unusual or unjustified complexity; and/or

·         Malafide Purpose: transactions which could not have been made in good faith or have no economic rationale; and/or

·         Fraud: any act or omission, including a misrepresentation that knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial or other benefit or to avoid an obligation; and/or

·         Corruption: transactions or arrangement that, to a person acting in good faith, appear to be offering, giving, receiving, or soliciting, directly or indirectly, anything of value to improperly influence the action of any government authority or public servant; and/or

·         Collusion: transactions or arrangement that, to a person acting in good faith, appear to be designed to achieve an improper purpose, including influencing improperly the actions of another party; and/or

·         Money Laundering: transactions which, to a person acting in good faith, appear to involve proceeds of any offence listed in the Schedule to the Prevention of Money Laundering Act, 2002.

 

b.       If it is brought to our knowledge or we become suspicious that you are engaging in any Suspicious Transactions, we reserve the right to terminate your CryptoSmartlife Account and report all Suspicious Transactions to appropriate authorities.

 

11. Sharing of Information

We may share the information you share with us or about your transactions on our Services with our affiliates, service providers or partners in accordance with our Privacy Policy. We may also share such information with appropriate enforcement authorities. To improve the integrity and transparency of transactions on our Services, you are encouraged to report any information you have regarding any Suspicious Transactions or transactions you have reason to believe are dubious in nature, to our compliance officer [Bhavik Vala] at [Bhavik.Vala@cryptosmartlife.com].