Understanding your Documents

In order to ensure that your company remains compliant with the applicable laws and in good standing with its licenses, you will receive various documents, each serving a different purpose. The following sections will help you understand the content and purpose of each document, and highlight any important details you should be aware of.

1. It can be displayed on a dedicated webpage on your website.
2. During the registration process, customers can be redirected to the statement, requiring explicit agreement via a checkbox or an “I AGREE” button before completing their registration.
3. A pop-up or banner notification on your website, positioned where the terms of services are displayed, that requires acknowledgment.
4. An email or in-app notification sent to users upon registration. Please incorporate one of these methods to ensure that the customers are aware of the risk disclosure statement to avoid any liability from your end. | | Privacy Policy | This policy explains the type of personal data gathered through the platform, how and why it is collected, and with whom it may be shared.  This policy is important for users to understand their rights as a data subject in relation to their personal data. | Remark 1: You should be aware of how this policy applies to the law of British Virgin Islands Data Protection Act 2021 (“DPA”) users/customers.  This means that DPA provides specific rights to the users regarding their personal data including but not limited to the right to access, rectify, erase and object the processing of their data. The policy also addresses how DPA-covered users can exercise these rights by contacting you via your official communication channels, and how you may deal with such requests.  Remark 2: In accordance with Article 61 of the Markets in Crypto-Assets Regulation and relevant ESMA guidance, please note that personal data of EU/EEA individuals under the General Data Protection Regulation will not be processed by you. If potential users are EU/EEA residents, you will be unable to offer your services to such individuals unless they have independently sought you out without any prior engagement, marketing, or solicitation from you.

Remark 3: You may adjust the retention periods according to real-life practice. However, these data retention periods should still be in line with the principle of data retention under BVI’s law, which means that they should not be too long or excessive (e.g. 10 years) and should serve the purpose for which the data under each category is collected. | | Terms of Service | This document ensures that users are aware of their rights and responsibilities when using your platform. This helps protect you from liability in case users misuse the platform, engage in unauthorized activities, or break any laws or rules while using your services. | Please take note of the following key sections when implementing the Terms of Services:

1. Section 1 - Eligibility: Please ensure that the user meets all necessary criteria to qualify for using your platform and that eligibility is verified in accordance with the specified requirements.
2. Section 2 - User Account:
   1. Kindly ensure that each user only operates one account. In the event that the user has duplicate accounts with the same information, your cybersecurity team will conduct the necessary by sending an account suspension notice and suspending the account.
   2. In respect of suspension of user account:
      1. Be aware of the circumstances under which a user account may be suspended.
      2. In the event of a suspension, ensure that the proper procedure is followed, including providing clear reasons for the suspension, restriction or termination, as well as instructions for rectification.
      3. Ensure that you understand when it may not be necessary to provide reasons for the suspension or termination of a user account.
3. Section 4 - 8: Please review the details of this section carefully to ensure that it accurately reflects your actual functionality and operations.
4. Section 9 - Breach of Terms:
   1. Please familiarize yourself with practices that are strictly forbidden in relation to the platform and are considered violation of the terms of use herein.
   2. Similarly, please make sure you are familiar with the types of prohibited businesses that users are not allowed to engage with.
   3. In the event that such prohibited activities are conducted by the users, you reserve the right to deny services and to terminate your relationship with them.
5. Section 10 - Liability:
   1. This section limits your liability as a service provider. This means that if users experience any loss, damage or dispute while using your platform, they generally cannot hold you responsible.
   2. This section also provides that you are not liable for errors, technical failures, security breaches or external events beyond your control.
   3. Any claim against you must be made within three (3) months and your maximum responsibility is limited to the fees the user has paid in the last three months.
   4. These terms help protect your business by minimising the risk of costly legal claims and ensuring that users understand their responsibilities, as well as the limits of your liability while using your service.
6. Section 11 - Indemnification:
   1. This section requires users to take full responsibility for any legal claims, damages, or costs that arise due to their actions while using your platform.
   2. If a user engages in misconduct under the Terms of Use, they are responsible for compensating you for any resulting legal or financial consequences.
   3. This protects your business by ensuring that users, not you, are liable for their own misconduct.
   4. This reduces your risk of lawsuits or financial losses caused by their actions.
7. Section 13 - Intellectual Property:
   1. This section ensures that all intellectual property related to your platform such as trademarks, copyright, patents and designs remains solely owned by you.
   2. Users do not gain any IP rights by using your platform and cannot copy, modify, or use it without your explicit written permission.
   3. This protects your business by preventing authorised use or claim over your brand and content.
   4. This ensures that your intellectual property remains fully under your control.
8. Section 14 - Dispute Resolution: Please note that arbitration under the British Virgin Islands International Arbitration Centre has been chosen pursuant to DPA. |