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TERMS & CONDITIONS

This document was last updated September 2024
By accessing or using our services, you agree to comply with these terms and Conditions (“Terms”). If you do not agree to these Terms, you may not use the platform.

DEFINITIONS

The following Terms shall have the meanings ascribed to them below:

  • Account – means an account registered by the User on the platform (including registration via mobile application).
  • Data – means all data and other information generated by or accessible through the platform and/or otherwise provided to the User hereunder, including, without limitation, information regarding orders, pricing, trading volume, trades, liquidity, etc.
  • Services – Buying, selling, exchanging, storing, and other operations involving Virtual Assets offered by the platform.
  • Virtual Asset Service Provider (VASP) – The platform is registered as a VASP under Bulgarian law, in compliance with the Anti-Money Laundering Act (AMLA).
  • Virtual Assets (VA) – Digital representations of value that can be digitally traded or transferred, including cryptocurrencies and tokens.
  • User – Any person or legal entity who accesses or uses the services offered by the platform.
  1. USE OF OUR SERVICES

The use of the services, website and the platform are governed by international compliance requirements and of economic sanctions. By sending, receiving, buying, selling, trading or storing Digital Assets through the platform, the User agrees to comply with these requirements. The User is not allowed to perform transactions on the platform or use any services if:

1.1. The User is in or under control, or is a citizen or resident of FATF blacklisted countries and/or countries subject to the United Nations Security Council Sanctions List, the European Union or HM Treasury’s financial sanctions regimes, the United States embargo (a “Sanctioned Country”), or if the User is a Person on EU or HM Treasury’s financial sanctions regime or the U.S. Treasury Department’s Specially Designated Nationals List or the U.S. Commerce Department’s Denied Persons List (a “Sanctioned Person”); or he/she is a citizen and/or a resident of the United States of America or a legal entity whose Authorised capital is owned by U.S. citizen and/or resident; or

1.2. They are a person, who does not meet any User due diligence/compliance standards, requests or requirements of Universe Technologies regarding compliance of the User and who otherwise belongs to a high-risk group, including, but not limited to, the factors listed above, including a politically exposed person (PEP) (a natural person who is or who has been entrusted with prominent public functions as well as family members or close associates of such persons).

  1. REGISTRATION AND USER ELIGIBILITY

2.1. Eligibility – You must be at least 18 years old and not prohibited under applicable laws from using our Services.

Users must provide valid identification and complete Know Your Customer (KYC) procedures as required under Bulgarian law and

2.2. Account Creation – Users must register an account and provide accurate, complete, and up-to-date information, including identity verification documents.

2.3. Prohibited Use – The platform prohibits use by individuals or entities on any sanctions lists, including EU and OFAC lists, or from jurisdictions deemed high-risk by FATF.

  1. SERVICES

3.1. Virtual Asset Transactions – Users may buy, sell, exchange, or store Virtual Assets using the Platform.

The Platform does not guarantee the prices of Virtual Assets, which are subject to market volatility.

3.2. Fees – All fees are transparently displayed before completing a transaction. Users agree to pay all applicable fees.

3.3. Transaction Limits – The platform may impose limits on transactions based on regulatory requirements or risk assessments.

  1. AML AND KYC REQUIREMENTS

4.1. Identity Verification – The Platform complies with Bulgarian AML/CFT legislation and will verify user identity before providing services.

4.2. Transaction Monitoring – All transactions are subject to monitoring and reporting to Bulgarian Financial Intelligence Directorate (FID) in cases of suspicious activity.

4.3. Account Freezing – The Platform reserves the right to freeze accounts or transactions if required by law or for AML purposes.

  1. USER OBLIGATIONS

5.1. Accuracy of Information – Users must ensure that all information provided to the platform is accurate and up-to-date.

5.2. Lawful Use – Users must not use the platform for any unlawful activity, including money laundering, terrorist financing, or fraud.

5.3. Account Security – Users are responsible for maintaining the confidentiality of their account credentials and must notify the platform immediately of any unauthorised access.

  1. DATA PROTECTION

6.1. GDPR Compliance – The platform processes personal data in compliance with the General Data Protection Regulation (GDPR) and Bulgarian data protection laws.

6.2. Data Usage – User data is collected solely for KYC, AML, and service provision purposes. It will not be shared with third parties except as required by law.

6.3. Data Retention – Personal data is retained as per Bulgarian regulatory requirements, including a five-year minimum retention period for AML purposes.

  1. RISK DISCLOSURE

7.1. Volatility Risk – The value of Virtual Assets can fluctuate significantly, and past performance does not guarantee future results. Users should assess their risk tolerance before engaging in transactions.

7.2. Regulatory Risk – Virtual Assets are subject to changing laws and regulations, which may impact their legality or value.

7.3. Loss of Funds – The platform is not responsible for losses arising from user errors, such as incorrect wallet addresses or unauthorised access.

  1. LIMITATION OF LIABILITY

8.1. No Guarantees – The platform provides services “as is” without guarantees of uninterrupted or error-free operation.

8.2. Liability Cap – The platform’s liability is limited to the total fees paid by the User in the preceding 12 months.

8.3. Force Majeure – The platform is not liable for delays or failures caused by events beyond its control, including cyberattacks, natural disasters, or regulatory changes.

  1. TERMINATION

9.1. User Termination – Users may terminate their account at any time by submitting a request to the platform.
9.2. Platform Termination – The platform reserves the right to terminate or suspend accounts for breach of these Terms or for regulatory reasons.

  1. APPLICABLE LAW AND DISPUTE RESOLUTION

10.1. Governing Law – These Terms are governed by Bulgarian law, including the AMLA and GDPR regulations.

10.2. Jurisdiction – All disputes arising under these Terms shall be resolved by the competent courts of Sofia, Bulgaria.

10.3. Dispute Resolution – Users agree to resolve disputes amicably through mediation before pursuing legal action

  1. AMENDMENTS TO TERMS

11.1. Changes – The platform may update these Terms at any time. Users will be notified of significant changes through email or platform notifications.

11.2. User Agreement – Continued use of the platform after changes are published constitutes acceptance of the updated Terms.