These Terms and Conditions constitute a legally binding agreement made between you, whether personally (“you”) and Valerina Make Money LLC (PT Valerina Make Money) (“we”, “us”, “our”, “X2B”). We are registered in Indonesia under registered company number 1290000323805, and we are located in Jl. Raya Uma Buluh No.23, Desa/Kelurahan Canggu, Kec. Kuta Utara, Kab. Badung, Provinsi Bali, 80361.
Who we are?
We are licensed to operate in Indonesia and equipped with cutting-edge technology and top-notch expertise, ensuring that you make the most of your cryptocurrency trading experience.
We honor and protect the legitimate rights and interests of our customers and users. So, we expect appropriate behavior from our users: to observe these Terms and Conditions and requirements of the laws, to ensure implementation of the rights and lawful interests of us and other parties.
What is X2B?
X2B provides secure and seamless over-the-counter (OTC) cryptocurrency trading services to businesses and private clients around the globe, making trading fast and easy.
X2B offers comprehensive cryptocurrency trading services tailored to businesses. Our services allow for seamless exchange, purchase, and management of cryptocurrencies. Here is a detailed description of the services we provide:
⦁ Cryptocurrency Exchange: We enable businesses to easily exchange one cryptocurrency for another, facilitating seamless transactions between various digital assets.
⦁ Fiat-to-Crypto Exchange: Clients can convert fiat currencies, such as USD or EUR, to cryptocurrencies. This allows businesses to diversify their holdings or explore investment opportunities in the crypto market.
⦁ Client Cryptocurrency Purchases: We provide a convenient and secure avenue for businesses to purchase cryptocurrencies directly, facilitating efficient acquisition of digital assets.
⦁ Sending Cryptocurrency to Third Parties: Through separate agreements, our clients can send cryptocurrencies to third parties. This feature is particularly useful for payments, settlements with partners or investors, and other specific scenarios.
⦁ Cryptocurrency Asset Management: We offer comprehensive asset management services, including secure storage, portfolio tracking, and detailed reporting. Our platform helps businesses effectively manage their crypto assets.
⦁ Financial Management: X2B assists businesses in financial management related to cryptocurrencies. We help track profits, assess risks, and make informed investment decisions in the dynamic crypto market.
⦁ Consulting: Our team of experienced cryptocurrency professionals provides consulting services to support businesses in navigating the complexities of the crypto industry. We offer guidance on regulatory compliance, risk assessment, and strategic planning.
⦁ Software Solutions: X2B provides cutting-edge software solutions catered to the cryptocurrency industry. Our software streamlines operations, enhances security, and improves efficiency in various aspects of crypto trading and management.
We are dedicated to being a trustworthy partner for businesses in search of reliable and comprehensive cryptocurrency trading services. We possess all the necessary licenses to conduct these activities.
These Terms and Conditions
This legal document is public and available at https://x2b.io/legal/terms (the “Terms and Conditions” and/or “Agreement”)
These Terms and Conditions define your rights and obligations as our Customer when you use our services and specified X2B software.
We reserve the right, in our sole discretion, to make changes or modifications to these Terms at any time and for any reason. We will alert you about any changes by X2B and updating the “Last Revised” date of these General Terms.
Disclosure of Risk Services
Crypto Asset Trading is a high-risk activity.
This is because the value of Crypto Assets can change, either increasing or decreasing, significantly from time to time. We don’t provide any guarantee and are not responsible for the exchange rates of Crypto Assets. For the avoidance of doubt, risks resulting from buying, selling, holding, investing in any Crypto Asset are not the responsibility of us but are your responsibility for using Products.
In connection with the above disclosure, we strongly recommend that you first learn about Crypto Asset trading so that you truly understand the risks of Crypto Asset trading activities.
You are expected to always be careful and measure your financial condition as proper as possible before trading Crypto Assets.
You are responsible for determining whether use of our Products and Services are legal or lawful in your jurisdiction and you may not use the Services if such use of the Services is illegal or legally prohibited in your jurisdiction. If you are unsure, please seek independent legal advice. We may be forced to suspend or discontinue or modify aspects of our Services in your jurisdiction elsewhere if requested by a government agency in your jurisdiction without prior notice and for any reason. In such cases, the Crypto Assets may be frozen for an unspecified period of time until the issue is resolved.
Crypto Assets may experience expropriation, theft and/or fraud; hackers or other malicious groups or organizations may try to disrupt our systems or networks in various ways, including malware attacks, denial of service attacks, consensus-based attacks, sybil attacks, smurfing and spoofing which can result in the loss of your digital data, Crypto Assets, or your loss of ability to access or control your Crypto Assets. In such an event and to the extent permitted by law, we are not responsible for any recovery, and you are not guaranteed any recovery, refund or compensation.
By trading Crypto Assets, you declare that you are ready to face any risks arising from trading Crypto Assets. Any decision you make in relation to trading Crypto Assets is an independent decision made consciously by you and without coercion from us or any other party.
By using Services and Products, you are deemed to have read, understood and accepted all risks for this, including all risks that has been mentioned above and all other risks that are reasonable to be deemed as risks that must be borne by you.
THE FOLLOWING TERMS AND CONDITIONS GOVERN YOUR USE OF X2B PRODUCTS AND SERVICES.
BY USING ANY OF X2B PRODUCTS AND SERVICES, YOU AGREE TO THE FOLLOWING PROVISIONS.
IT IS IMPORTANT THAT YOU FAMILIARIZE YOURSELF WITH THE PROVISIONS HEREIN BEFORE USING ANY OF X2B PRODUCTS AND SERVICES.
YOU EXPRESSLY REPRESENT AND WARRANT THAT YOU WILL NOT OPEN, USE OR REUSE AN ACCOUNT AT X2B PRODUCT, NOR PARTICIPATE AT ANY X2B PRODUCT IN ANY MANNER, NOR ACCEPT ANY EARNING FROM ANY X2B PRODUCT IF YOU DO NOT UNDERSTAND, AGREE TO BECOME A PARTY TO, AND ABIDE BY ALL OF THE TERMS AND CONDITONS SPECIFIED BELOW.
IF YOU DO NOT AGREE TO BE BOUND BY (OR CANNOT COMPLY WITH) ANY OF THE TERMS AND CONDITIONS BELOW, DO NOT CHECK THE “I AGREE” BOX, DO NOT COMPLETE THE REGISTRATION PROCESS, AND DO NOT ATTEMPT TO USE ANY X2B PRODUCTS IN ANY MANNER, AND DO NOT SIGN SCHEDULE TO THIS TERMS FOR X2B SERVICES.
* * *
If you do not agree with these Terms and Conditions or a part of it,
then please don't use X2B Services and Products!
* * *
§1 Definitions
The following terms shall be understood as follows:
(a) Agreement means these Terms and Conditions, which outline the procedures for entering into Product contracts with the User, whether in person or remotely, as well as the procedures for fulfilling these contracts, the rights and responsibilities of both Service Provider and the User, and the procedures for filing complaints;
(b) Service Provider means Valerina Make Money LLC (PT Valerina Make Money) is a company incorporated in accordance with the laws of Indonesia under registered company number 1290000323805, and located in Jl. Raya Uma Buluh No.23, Desa/Kelurahan Canggu, Kec. Kuta Utara, Kab. Badung, Provinsi Bali, 80361;
(c) Cryptocurrency means a transferable property right which is neither legal tender, electronic money nor a financial instrument. The list of Cryptocurrencies whose turnover, deposits and withdrawals are allowed on the Website is published on the Website. The change of the list mentioned above shall not constitute a change of the Service Contract;
(d) User means an entity which uses X2B Services and Products;
(e) Product means providing Users with X2B software as an electronic online platform for the exchange of information and concluding Transactions, as well as other actions of Service Provider, enabling the operation and use of Services;
(f) Services mean services provided by a Service Provider to User as a customer without the use of the Product, personally, based on this Agreement, through a separate Service Contract, within individually and additionally defined terms, and for separate compensation. Such Services may include Cryptocurrency Exchange, Fiat-to-Crypto Exchange, Client Cryptocurrency Purchases, Sending Cryptocurrency to Third Parties, Cryptocurrency Asset Management, Financial Management, and Consulting, as well as other services;
(g) Service Contract means the contract concluded between Service Provider and the User, by acceptance of the Agreement by the User, which defines the principles of using the Services provided by Service Provider by the User;
(h) Website means Service Provider’s webpage operating under the domain x2b.io with all its subpages and tabs;
(i) Transaction means the contract of sale of the Cryptocurrency in exchange for another Cryptocurrency or in exchange for the Fiat Funds, concluded by Users through the Website, as well as deposits and withdrawals made by the User;
(j) Account means the User’s account created on its order on the basis of its personal data provided by the User and constituting a collection of data stored in Service Provider’s Website and the Product concerning a given User, Services providing for him, as well as the ordered, executed Transactions and concluded contracts;
(k) Fiat Funds means traditional currencies, i.e. those commonly recognised by governments as legal tender. The list of Fiat Funds whose turnover, deposits and withdrawals are allowed by Services and Products are published on the Website’s pages or available by Services Provider’s contact. The change of the list mentioned above shall not constitute a change of the Service Contract;
(l) AML / CTF risk assessment means evaluation as to whether transactions, behaviours, or a user create risks of laundering funds originating from illegal activities or financing of terrorism; performed by Service Provider, also with support from external service providers; as fulfillment of the obligation set forth guidelines published by international organizations and binding provisions of law.
(m) Delisting means removal of possibility to trade, deposit or withdraw of Fiat Funds or Cryptocurrencies by Service Provider. Delisting shall not constitute a change of the Service Contract.
§ 2 Declarations and Basic Information
(a) The Services and Products are provided by Service Provider who is a legal entity of Indonesia and has all necessary authorizations to conduct financial asset management activities.
(b) The User’s ability to use the Services offered by Service Provider may depend on the User’s country of citizenship, residence or stay. The list of countries with excluded access to the Services is published and updated on the Website. The change of the list mentioned above shall not constitute a change of the Service Contract.
(c) The User is obliged to establish legal regulations specifying his tax obligations and methods of payment to the right tax office authority. Service Provider is not responsible if and how the transaction is taxed.
(d) Safekeeping, safety and using User’s cash funds which are deposited on the Account are described in Service Contract or the Website.
(e) The User acknowledges that Transactions are executed on the Product with other Users of the Product (or with Service Provider acting as an user) except where the description of the service offered on the Website explicitly states otherwise (for example as with OTC transactions).
(f) The User acknowledges that Transactions are executed only with Service Provider under Services by a Service Contract.
(g) The User understands and acknowledges that nothing contained on Website or Service Provider’s social media pages constitutes a solicitation, recommendation, endorsement, or offer by Service Provider or any third parties to buy or sell any Fiat Funds, Cryptocurrencies nor other financial instruments by the user or any persons neither Service Provider nor its affiliates provide any investment recommendations in connection with Website’s operation, nor do they give any advice or offer any opinion with respect to the suitability, profitability or appropriateness regarding any investment, Fiat Funds or Cryptocurrencies except it is directly written by Service Provider. User is responsible for determining whether an investment strategy is suitable for him. All Transactions will be done only on Users order.
(h) The User should consult with an attorney, financial advisor, or other investment professional to determine what may be best for his or her individual needs. Service Provider does not make any guarantee or other promises as to any results that may be obtained from using its content.
(i) Buying and selling Cryptocurrencies involves inherent financial risk and no one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence.
(j) To the maximum extent permitted by law, Service Provider disclaims any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. The User’s use of the information on the Website or materials linked from the Website is at his or her own risk.
§ 3 Scope of the Services
(a) The Services shall be provided to Users through the use of both Service Provider's proprietary software and third-party software provided by entities such as exchanges, cryptocurrency wallets, banks, and other third-party providers, which enable the storage of cryptocurrencies, exchange, and execution of Transactions.
(b) Service Provider's Services by the Product may consist of providing Users with an electronic platform for exchanging information and executing Transactions related to the exchange of cryptocurrencies.
(c) For proper use of the Website and the Product, it is necessary User to have a device with Internet access supported by a web browser (e.g. Chrome, Mozilla) and access to Java Script and Cookies files in the browser.
(d) Service Provider is entitled to introduce changes in technical and technological requirements necessary to use the Product and Services by providing information about such a change to the User’s e-mail address. A change in technical or technological requirements does not constitute a change of the Agreement.
(e) Services are provided exclusively for the benefit of:
⦁ natural persons with full legal capacity, i.e. those over 18 years of age and who have not been entirely or partially incapacitated;
⦁ other legal entities with legal capacity on the basis of separate provisions.
(f) Services are provided for a fee. Current principles and the number of fees charged will be published on the Website or described by the Service Contract. The User will be informed about this every time before taking any action on which the commission is charged. Fees and commissions binding the User shall apply to a given activity on the day of its performance. Changes in the amounts and principles of charging fees and commissions will be made while taking into account the User’s right to terminate the Account and free of charge funds withdrawal.
(g) Charging fees and commissions for the Services provided takes place automatically at the moment of ordering the Transaction from funds dedicated by the User to execute the Transaction except conditions by the Service Contract between Service Provider and the User.
(h) Please note, we use payment providers for transfers of Fiat Funds for rendering exchange Services and operating with the Fiat Funds.
§ 4 Terms and Conditions of the Services
(a) Conditions to use the Services and Product by the User:
⦁ give an e-mail address to which it has an exclusive access;
⦁ read and accept the Agreement, Privacy Policy, table of fees and pricing or other documents, if their acceptance is required by Service Provider;
⦁ read and sign the Service Contract if its acceptance is required by Service Provider and Services;
⦁ complete other technical activities and give additional data required by Service Provider according to AML / CTF Policy.
(b) In the case of Accounts created or the Services should be for entities other than natural persons, the User must be entitled to represent them. In that case User provide its own data, the personal data of the management board of that entity and its actual beneficiaries.
(c) Specific technical requirements to set up an Account as well as required information and documentation may be subject to changes and be different for other Users depending on AML / CMF risk assessment.
(d) The User is obliged to provide real, current and complete data required by Service Provider. The User is responsible for the consequences of providing incorrect, outdated or incomplete data.
(e) The User acknowledges and consents to the fact that Cryptocurrencies and Fiat Funds its deposits are placed in electronic money institution or payment institutions.
(f) Service Provider shall refuse registering an Account for the User when:
⦁ User is a citizen, resident or from a country where, according to the information published on Website, due to actual legal regulations or AML / CMF risk assessment, Services are not provided by Service Provider;
⦁ registration is attempted or made using software preventing determination of a country from which it is made;
⦁ data given by the user has been used before for creating another Account;
⦁ it is recommended by AML / CTF risk assessment.
(g) The Service Contract may be concluded without the Account registration process by the Product.
(h) The Service Contract is concluded for an indefinite period of time.
(i) The User accesses its individual Account by logging into the Product using Login Details.
(j) The User is obliged to take appropriate measures to prevent third parties from accessing the Account and Login Details. Making the Account or Login Details available to third parties is prohibited and occurs at the sole risk of the User. In such case Service Provider will terminate the Service Contract.
(k) Service Provider may demand to submit additional documentation, information or explanation, as well as refuse to verify the User due to the insufficient credibility, incompleteness of the data or documents provided by the User or due to the results AML / CTF risk assessment.
(l) The duration of the procedure for verification of the identity and authenticity of the data provided as well as the duration of the AML / CTF risk assessment depends on the current capabilities of Service Provider and of third parties, therefore Service Provider does not guarantee and is not responsible for the duration of such activities or positive result thereof.
(m) After a failed verification attempt, Service Provider may refuse to re-verify the same entity.
(n) Ownership of the Account, meaning the identity of the User, may be changed (resulting in the transfer of all rights and obligations connected with the account), at the consent of Service Provider only:
⦁ in the case of a legal transformation of a non-individual customer (e.g. transforming a company into another company, fusion, merger).
⦁ if a User who is a natural person applies for the conversion of an account from a private account into company account if the company is his self-employment, or is owned and governed solely by the User.
In both cases the User is obliged to submit credible, appropriate documentation, confirming those circumstances.
(o) If the User hasn’t executed any Transactions on his Account for subsequent 12 months Service Provider may terminate the Contract with the User by sending to the User’s e-mail address a notice of termination of the Service Contract with 30 days’ notice period.
(p) The User acknowledges that Service Provider does not guarantee the User any profit in connection with the use of the Product or the Services performing.
(q) The User agrees not to perform any actions through the Product that violate: the provisions of these Agreement, guidelines published by Service Provider, legal provisions or good morals.
(r) The User agrees to use the Product solely for its own personal use, in its own name and on its own behalf.
(s) The User agrees to use the Product and the Services in a good faith, in particular, to immediately notify Service Provider of any errors observed in the Product software and to refrain from using any errors observed in the Product software to the detriment of Service Provider or other Users. Transactions executed in breach of this section shall be cancelled or revoked and the User shall not be entitled to any claims.
(t) Service Provider indicates that it can, at any time, at its sole discretion, perform AML / CTF risk assessment of the user, its behaviours or transactions.
(u) The User agrees to provide all information, materials and documents that Service Provider will require from it in connection with the AML / CTF risk assessment. In case of a breach of this obligation, Service Provider shall be entitled to refuse to execute or to suspend the execution of the Transaction as well as to stop deposits and withdrawals of Fiat Funds and Cryptocurrencies.
(v) Service Provider has the right to refuse to process the User’s transaction as well as to freeze User’s deposits and withdrawals, in response to a request of state authorities.
(w) Service Provider reserves the right to monitor, review, retain or disclose to authorised entities any information necessary to comply with applicable legal provisions, including in particular the prevention of money laundering and terrorist financing. Service Provider has the right to perform periodical User’s data verification, in particular by requesting him to submit documentation, explanation, information. If User will not satisfy Service Provider’s request, Service Provider shall be entitled to refuse execute of freeze the transaction as well as to stop deposits and withdrawals of Fiat Funds and Cryptocurrencies.
(x) Service Provider reserves the right to refuse to make or withdraw any purchase, sale or exchange of the Cryptocurrency at its own discretion, even after the funds have been withdrawn from the User in the following situations:
⦁ when Service Provider suspects that the Transaction may (or may be likely to) involve money laundering, terrorist financing, fraud or any other criminal offence;
⦁ in response to a subpoena or other order from State institutions or bodies;
⦁ if Service Provider reasonably suspects that the transaction is the result of an error;
⦁ if Service Provider suspects that the Transaction is made in breach of the Agreement, the Service Contract, or other terms and conditions regulating the use of the Services;
⦁ when the Transaction is made by a resident of a country from a current list of restricted countries with exclusive access to the Services determined by OFAC or other authorities.
In such cases, Service Provider shall not be obliged to reinstate the Transaction at the same price or under the same terms and conditions as the cancelled Transaction.
§ 5 Transactions
(a) Transaction execution is possible for a User who:
⦁ has registered and verified the Account on the Website, and Transaction is within the limits of completed verification;
⦁ accepted the Agreement;
⦁ has the Service Contract;
⦁ made a deposit of Cryptocurrencies or Fiat Funds in accordance with the instructions sent by Service Provider;
⦁ submitted an instruction to execute a Transaction with no doubt;
⦁ performed assessment of the risk of AML / CTF does not indicate any contraindications to the implementation of the Transaction.
(b) The instruction to execute a Transaction shall be submitted through specifying all required parameters of the Transaction, such as, in particular, the price and quantity of the Cryptocurrency to be acquired or sold.
(c) Submitting an instruction to execute a Transaction blocks the User’s funds in an appropriate amount.
(d) Service Provider may limit the possibility of executing a Transaction by introduction or modifying the minimum or maximum amounts of Transactions for particular Fiat Funds or Cryptocurrency.
(e) Under no circumstances shall a Transaction (including the fee) be executed in excess of the value of funds held.
(f) Execution of a Transaction is final. User cannot demand returning or exchanging of Cryptocurrency or Fiat Funds, which were bought or purchased using the Product or by Service Provider under the User requirement to make Transaction.
(g) Unless otherwise stated by Service Provider by the Service Contract, any taxes arising from the trading of Cryptocurrency Funds through the Product and Services will be the sole responsibility of the User.
§ 6 Deposits and Withdrawals Of Cash Funds And Cryptocurrencies
(a) The User has the option to order the withdrawal of Fiat Funds or Cryptocurrencies that are available on their Account or have been transferred to Service Provider.
(b) It should be noted that if the value of Fiat Funds or Cryptocurrencies has changed, the payment will be made in Fiat Funds based on the value of Cryptocurrencies at the time of the withdrawal and payment to the User. This means that the User will receive the equivalent value of Fiat Funds based on the current value of Cryptocurrencies at the time of the withdrawal. If the withdrawal is made using the Product, it will be processed through the User's Account.
(c) If the withdrawal is made within the framework of a Service Contract, the responsible party, which is Service Provider, will be responsible for processing the withdrawal and payment. Service Provider will aim to process the withdrawal and payment within one (1) business day.
(d) The minimum and maximum value of deposits, payments and withdrawals of Fiat Funds and Cryptocurrencies is specified in the Service Contract or published on the Website.
(e) Service Provider can amend the minimum and maximum value of deposits, payments and withdrawals due to the change of User’s verification standards or AML / CTF risk assessment. Such changes can be made individually. User is obliged to withdraw deposits exceeding the limit within the period of time indicated by Service Provider under the pain of keeping such funds on the deposit account described the Agreement below.
(f) Withdrawals of the Fiat Funds and Cryptocurrencies will be implemented only after the User has provided the necessary data required by Service Provider if the nature, purpose and the AML / CTF risk assessment of the ordered Transaction does not raise any doubt.
(g) Deposits and withdrawals are credited only on working days due to the law regulations of Indonesia.
(h) Service Provider shall implement the withdrawal of the Fiat Funds or Cryptocurrencies to the accounts belonging to and indicated by the User. Information about the owner of the bank account used for withdrawals of Fiat Funds has to be identical with those provided to Service Provider as personal data of User.
(i) If a User does not order the withdrawal of Fiat Funds or Cryptocurrencies, despite such obligation in accordance with this Agreement or the Service Contract, within the timeframe indicated there, such funds may be stored by Service Provider on a negatively interest-bearing deposit account, where the monthly interest rate is established by the Service Contract, until User orders the withdrawal.
(j) If due to technical, economical or business conditions of Service Provider Fiat Funds cannot be withdrawn (for example if Service Provider has no bank accounts allowing it to keep such Fiat Funds), the equivalent of User’s Fiat Funds shall be paid in USDT to the address indicated by the User. The equivalent value of Fiat Fund shall be calculated based on prices published on www.blockchain.com on the day User indicates the address referred to in the previous sentence.
(k) Due to unforeseen circumstances or the decision of Service Provider any Cryptocurrency or Fiat Fund which turnover, deposits and withdrawals are allowed by Service Provider may be Delisted. Such change shall not constitute a change of the Service Contract or the Agreement.
(l) Delisting of a Fiat Fund shall take place only if technical, economical or business conditions deem it impossible or not cost-effective to sustain such Fiat Fund.
(m) Delisting of any Cryptocurrency shall take place at the sole discretion of Service Provider. In particular, Service Provider shall not be obliged to state its reasons for Delisting of a Cryptocurrency.
(n) Service Provider shall announce the plan to Delist a Cryptocurrency or Fiat Fund at least three (3) business days in advance.
(o) Users are obliged to order the withdrawal of delisted Cryptocurrency or Fiat Fund, within three (3) business days since the announcement of Delisting.
(p) The deadlines described in point above may be shortened due to extraordinary circumstances beyond Service Provider’s control, for which it is not responsible for, such as blockchain damage or risk of termination of bank relationship providing possibility to deposit Fiat Funds.
(q) Delisted Cryptocurrency that cannot be withdrawn by the User due to objective technical impossibilities (like the liquidation of the Cryptocurrency’s blockchain) shall be deleted. In such case the right of the User to claim the equivalent of Delisted Cryptocurrency is excluded.
(r) Service Provider may decide, upon its discretion, to delist a particular trading pair without Delisting a Cryptocurrency or Fiat Fund. Such delisting of a trading pair shall be announced three (3) business days in advance.
(s) Service Provider shall not be liable for damages or any loss incurred by the User in connection with the Delisting of Cryptocurrency or Fiat Fund or delisting of trading pairs.
§ 7 Service Provider’s Rights
(a) Service Provider is entitled to additional rights in case it suspects that the Transaction ordered by the User or any other activity of the User may be related to committing a crime, money laundering, terrorist financing, violation of the provisions of the Agreement, legal provisions or good morals:
⦁ the right to terminate the User Account;
⦁ the right to terminate the Service Contract;
⦁ the right to refuse or stop execution of the Transaction;
⦁ the right to withdraw the Transaction executed;
⦁ the right to perform additional verification of the User by requesting the presentation of relevant documents or information.
(b) Service Provider is entitled to block the right to execute Transactions and deposit or withdraw of User’s Cryptocurrencies and Fiat Funds if:
⦁ legal regulations obliged Service Provider to do so;
⦁ it is justified with AML / CTF risk assessment;
⦁ User has not respected his duty to present additional, unambiguous documentation or information on the demand of Service Provider due to the Agreement;
⦁ User’s country of stay, country of citizenship or country of residence, is on the list of countries excluded from providing Services.
(c) Due to the necessity of ensuring safety and the highest quality of the Services provided, Service Provider is entitled to the following rights:
⦁ the right to suspend the activity of the Product for the time of updating the software or for the time needed to repair the technical failure – if this is possible in a given case, Service Provider will notify the Users on the Website about the planned technical interruption, sufficiently in advance;
⦁ the right to discontinue the provision of the Services within a specified geographical area or within all geographical areas;
⦁ the right to exclude certain types of Transactions from;
⦁ the right to withhold the possibility of registering new Users.
§ 8 Service Payments to Third Party
(a) Service Provider, as defined in this Agreement, may, upon the User's request, conduct payments in either Fiat Funds or Cryptocurrencies to third parties, subject to the provisions set forth in a separate Service Contract that requires ratification by the respective third party. In such cases, the User shall provide all necessary legal documents related to the underlying Transaction for which the payment is being made.
(b) It is imperative that the designated third party recipient (hereinafter referred to as the "Recipient") adhere to Service Provider's Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) policies, as well as any relevant legislation. It is also crucial that the Recipient is not subjected to any sanctions imposed by any governmental or international bodies or countries.
(c) To ensure compliance with the aforementioned AML/CTF policies and regulations, the User shall supply Service Provider with all necessary identification and verification documents and information pertaining to the intended Recipient. This may include, but not limited to, the Recipient's legal name, address, contact details, and any other relevant details as required by Service Provider. Service Provider reserves the right to request additional documentation or conduct further verification procedures to ascertain the Recipient's adherence to AML/CTF policies and legal compliance.
(d) The User acknowledges and agrees that under no circumstances shall Service Provider facilitate any payment to a Recipient who is subject to sanctions imposed by any governmental or international bodies or countries. The User shall undertake reasonable due diligence to confirm that the intended Recipient is not listed on any sanctions or watch lists, and promptly notify Service Provider of any changes or updates in this regard. Failure to comply with this provision may result in immediate termination of this Agreement and additional legal consequences as determined by applicable law.
(e) Service Provider shall have the right to refuse to make any payment in Fiat Funds or Cryptocurrencies to a third party if Service Provider determines, in its sole discretion, that such payment would violate any applicable laws or regulations, or if the third party recipient is subject to sanctions imposed by any government or regulatory body.
(f) The User further acknowledges and agrees that Service Provider may terminate this section of the contract at any time if Service Provider determines, in its sole discretion, that the User has breached any of the terms and conditions set forth herein.
(g) Service Provider shall not be liable for any losses or damages incurred by the User as a result of any errors or omissions in the information or documentation provided by the User. The User shall indemnify and hold harmless Service Provider from any claims, losses, damages, penalties, or liabilities arising out of or in connection with the User's failure to comply with the provisions stated in this Section, including but not limited to any violation of AML/CTF policies, sanctions laws, or breach of confidentiality obligations.
§ 9 Intellectual Property
(a) The Product, Website, trademark X2B, and any other intellectual property published by Service Provider (collectively, the "Intellectual Property") shall be and remain the exclusive property of Service Provider. The User acknowledges that the Intellectual Property is protected by applicable intellectual property laws, including but not limited to copyright, trademark, trade secret, and patent laws. The User shall not use, reproduce, distribute, or create derivative works of the Intellectual Property without the prior written consent of Service Provider.
(b) Intellectual property refers to creations of the mind, such as inventions, literary and artistic works, designs, symbols, and names used in commerce. Intellectual property rights are legal rights that protect these creations from unauthorized use by others. These rights include copyright, trademark, trade secret, and patent laws.
(c) All graphics, animations, texts and other content, including functionality, distribution and location of specific elements used on Website are law protected copyright works.
(d) The User is entitled to use the works within the scope of permitted private use provided by legal provisions.
(e) Use beyond the permitted private use requires the prior consent of Service Provider.
§ 10 Termination
(a) This Agreement and the Service Contract shall be terminated:
⦁ upon the User’s request;
⦁ by Service Provider – by notice in cases specified in the Agreement.
(b) The User is entitled to terminate the Service Contract with 30 days’ notice period by submitting a notice of termination of the Service Contract to Service Provider. The period of notice shall be calculated from the date of withdrawal of all funds by the User located on his Account or stored by Service Provider. If it is impossible to withdraw or return all funds, the notice period shall be calculated from the last day of the month when the termination notice was provided by the User.
(c) Service Provider may terminate the Contract with the User by sending to the User’s e-mail address a notice of termination of the Service Contract with 30 days’ notice period.
(d) In the event of termination of the Service Contract by either party, the User is obliged to withdraw all Fiat Funds or Cryptocurrencies available on the User’s Account or stored by Service Provider. In case of failure to do so within 10 days, Service Provider has the right to return funds in accordance with Agreement.
(e) Upon the User’s request, in the time specified in point 3 above, Service Provider shall also delete all personal data concerning the User, excluding the data which Service Provider is obliged to store in accordance with the applicable provisions. The User’s request to delete personal data is tantamount to termination of the Service Contract by the User.
(f) After termination notice provided by any party, User can no longer make any deposits.
(g) In case of termination of the Service Contract due to the change of the Agreement, within 14 days from the day the change was published, but no later than 7 days from the day it entered into force, previous Agreement shall apply until the end of the notice period.
§ 11 Exclusion of Service Provider’s Liability
(a) In particular, Service Provider shall not be liable for:
⦁ losses incurred by the User resulting from effectively implemented Transactions;
⦁ consequences related to the loss or making available of the Login Details by the User to third parties;
⦁ incorrect entering of data by the User into deposit or withdrawal of the Fiat Funds or Cryptocurrencies;
⦁ effects of events beyond Service Provider’s control, i.e. software errors, interruptions in the Internet access, power cuts, hacking attacks (despite maintaining adequate measures described on the Website), etc.;
⦁ deletion of data entered by the Users into Service Provider’s IT system from IT systems beyond Service Provider’s control.
(b) In the event of a dispute between the User and another User, the User shall indemnify Service Provider and Service Provider’s service providers against all claims and claims for damage (actual or lost benefits) of any kind resulting from or in any way related to such disputes.
(c) The User undertakes to indemnify Service Provider and Service Provider’s service providers from all claims and to repair any damage (including the costs of legal assistance, any fines, fees or penalties imposed by any state authorities) resulting from or related to the User’s violation of these Agreement or infringement of legal provisions or rights of third parties.
(d) Neither Service Provider nor its service providers shall be liable towards the User for amounts exceeding the amounts operated at the time of their deposit in the Account by the User or execution of the Transaction by the User.
(e) The liability of Service Provider and its service providers towards the User is limited to the value of a given Transaction expressed in a given currency or Cryptocurrency.
(f) Liability for lost profits is excluded, and liability for any other damage (actual, direct, indirect, intangible, etc.), regardless of whether it results from the contract, tort, negligence, etc., resulting from or related to the authorised or unauthorised use of the Product or Services is limited to the value of funds provided by the User for the execution of a given Transaction subject to the preceding section.
(g) Service Provider makes no declarations or assurances that access to Services in any part of it or any materials contained therein will be uninterrupted, timely or error-free. To the maximum extent permitted by applicable law, Service Provider, in particular, excludes all implied guarantees regarding the availability of the Service, its fitness for a particular purpose and its integrity.
(h) Service Provider does not provide any assurances or guarantees as to the accuracy or completeness of historical data concerning the price of Cryptocurrencies available on the Website, by the Product, and by consultings.
(i) Service Provider will endeavour to process the requests for a Transaction with bank accounts or credit cards without undue delay, but Service Provider does not provide any assurances or guarantees regarding the time needed to complete the processing of such Transactions, which is dependent on many factors beyond Service Provider’s control.
(g) Service Provider shall not be liable for any actions or consequences of force majeure, i.e. for events beyond Service Provider’s reasonable control which occurred without fault of Service Provider, including, in particular: embargoes, governmental restrictions, riots, insurrection, wars or other acts of war, acts of terror, social unrest, rebellion, hacking attacks (including DDoS attacks, data theft or destruction), fires, floods, vandalism or sabotage.
§ 12 Personal Data and Privacy Policy
The principles of personal data processing by Service Provider and regulations concerning the Privacy Policy and Cookies are contained in the Privacy Policy published on the Website at https://x2b.io/legal/privacy.
§ 13 Changes Of The Agreement
(a) The Agreement and other provisions binding the Users, including tables of fees and pricing, may be subject to change. The change of provisions set forth in the preceding sentence shall come into force seven (7) business days after the date of making available on the Website changed provisions or informing the Users in the form of an e-mail about the change, unless Service Provider indicates longer period.
(b) The User is entitled to submit a declaration of refusal to accept the new provisions within seven (7) business days from the date of publishing changes. Submitting the aforementioned declaration is tantamount to the User’s termination of the Service Contract.
(c) Failure to submit a declaration of refusal to accept the new provisions shall be construed as consent to be bound by the changed provisions.
(d) Transactions ordered prior to the effective date of the changes shall be implemented in accordance with the wording binding on the day of the order for the Transaction.
§ 14 Final Provisions
(a) Services provided in accordance with the Agreement shall be provided in Indonesia and shall be subject to the law applicable therein.
(b) In case of any disputes between Service Provider and a User, the court having jurisdiction over the registered office of Service Provider shall be competent to settle such disputes.
(c) Recognition of any provision of these Agreement as being unlawful shall not affect the effectiveness and validity of the remaining provisions of the Agreement.
(d) Translations of the Agreement were commissioned by Service Provider for the Users, with the reservation that in case of any discrepancies in language versions, the English written version remains valid.