Coins.my User Agreement - Coins.my: Bitcoin Wallet in Malaysia. Buy and Sell Bitcoin in Malaysia, Easy and Fast.

User Agreement

Effective Date: December 1st, 2013. Last updated: March 1st, 2019.

 

This User Agreement (“Agreement”) is a contract between you and Arbor Digital Sdn Bhd (“Arbor Digital”), hereinafter known as Coins.my, and applies to your use of Arbor Digital services. You must read, agree with and accept all of the terms and conditions contained in this Agreement.

This is an important document which you must consider carefully when choosing whether to use Arbor Digital services.

 

General

By signing up to use the Arbor Digital account through the Coins.my website, the Arbor Digital API, and/or any associated websites or mobile applications (collectively the “Coins.my site”), you agree to comply with and be legally bound by this Agreement, as revised from time to time. If you do not agree to any of the terms set forth in this Agreement, or any subsequent modification to the Agreement, you may not access or use any of the Arbor Digital services.

We may amend or modify this Agreement by posting on the Coins.my site or emailing to you the revised Agreement, and the revised Agreement shall be effective at such time. We may (a) modify or discontinue any portion of the Arbor Digital services, and (b) suspend or terminate your access to the Arbor Digital services, at any time, and from time to time, without notice to you in certain, limited circumstances described herein. You agree that we shall not be liable to you or any third party for any modification or termination of the Arbor Digital services, or suspension or termination of your access to the Arbor Digital services, except to the extent otherwise expressly set forth herein.

Arbor Digital is duly registered with the Suruhanjaya Syarikat Malaysia (SSM) and as a reporting institution with Bank Negara Malaysia (BNM) under the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) – Digital Currencies (Sector 6) regulatory guideline, and all such activity is subject to the rules and regulations of the The Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATF) and all other regulations applicable as set by Bank Negara Malaysia.

Please note the following risks of using Arbor Digital services:

  • Digital currency purchased using a bank account or credit card may be reversed at a later time, for example, if such a payment is subject to a chargeback, reversal, claim or is otherwise invalidated.
  • A digital currency transaction may be unconfirmed for a period of time (usually less than one hour, but up to one day) and never complete if it is in a pending state.
  • You agree that disputes between you and Arbor Digital will be resolved by binding, individual arbitration and you waive your right to participate in a class action lawsuit or class-wide arbitration.
  • Holding digital currency is high risk. The price or value of digital currency can change rapidly, decrease, and potentially even fall to zero, and could cause large losses. Please consider carefully before purchasing or holding digital currency, taking into consideration your financial circumstances.
  • Any loss resulting from trading or investment through the Arbor Digital platform is not covered by the Capital Market Compensation Fund.

 

1. Our Relationship with You.

1.1 Arbor Digital helps you make payments to and accept payments from third parties. Arbor Digital also provides a digital currency wallet service where you can store your digital currency. Arbor Digital also allows users to buy and sell digital currency. Arbor Digital is an independent contractor for all purposes. Arbor Digital does not have control of, or liability for, the products or services that are paid for with Arbor Digital services. We do not guarantee the identity of any user or other party or ensure that a buyer will complete a transaction. Arbor Digital is not a money transmitter. Arbor Digital assists its users in digital currency transactions.

1.2 Your Privacy. Protecting your privacy is very important to Arbor Digital. Please review our Privacy Policy in order to better understand our commitment to maintaining your privacy, as well as our use and disclosure of your information.

1.3 Privacy of Others; Marketing. If you receive information about another user through Arbor Digital services, you must keep the information confidential and only use it in connection with Arbor Digital services. You may not disclose or distribute a user’s information to a third party or use the information for marketing purposes unless you receive the user’s express consent to do so. You may not send unsolicited email to a user through Coins.my.

1.4 Password Security and Keeping Your Email and Address Current. You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access Coins.my services. You are responsible for keeping your email address up to date in your Account Profile.

1.5 Notices to You. You agree that Arbor Digital, via Coins.my App and/or Web Portal may provide you communications about your Account and Coins.my services electronically.

1.6 Notices to Arbor Digital. We prefer receiving notices to Arbor Digital electronically through our support system at [email protected] Paper notifications can also be sent to Arbor Digital. See our contact page for our mailing address.

1.7 All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

1.8 While we will do everything we can to provide continuous operations, Arbor Digital does not provide any warranty in relation to the availability of the Coins.my service. Without limiting the generality of the foregoing, we do not guarantee continuous access to the Site or your Account and make no representation that any products or services offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions or any loss of transmitted information.

 

2. Accounts.

2.1 Eligibility. To be eligible to use Arbor Digital services, you must be at least 18 years old. For minors, you shall provide a consent form duly completed by your parent/legal guardian along with your and their identification documents.

2.2 Identity Authentication. If you wish to buy or sell digital currency through the exchange provided by Arbor Digital, available via Coins.my App/Web Portal, you authorize Arbor Digital, directly or through third parties, to make any inquiries we consider necessary to validate your identity in accordance with the regulations set by Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC).

2.3 Multiple Accounts. Arbor Digital Accounts are personal and non-transferable. By using Arbor Digital services, you agree that you will not create more than one Account, and that we may, without notice, close or suspend any or all of the Accounts of a Member who has, or whom we reasonably suspect has, opened multiple Accounts.

2.4 Third Party Applications. If you grant express permission to a third party to connect to your Coins.my account, either through the third party’s product or through Coins.my, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold Arbor Digital responsible for, and will indemnify Arbor Digital from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant. You may change or remove these permissions at any time from the Account Settings (API) page.

2.5 Taxes. It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. Arbor Digital is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.

2.6 Your account with us is not a bank account. Our services are not financial instruments. No interest will be paid on any funds or currency you use to purchase or trade for any other currency, and such currency is not insured by the company or any government agency.

2.7 Limitations. Arbor Digital may delay an order if customer has not provided personal identifying information, if it reasonably suspects that customer is in violation of the User Agreement, or if further personal identifying information is necessary to establish the identity of the customer (“KYC”). Until completion of such verification procedures, customers may experience delayed processing of digital currency Transactions or Conversion Service transactions. Arbor Digital will designate any such delayed transaction as “pending,” and funds will not be available until the pending transaction is completed. Arbor Digital reserves the right to refuse to process, cancel, or to reverse any customer transaction (i) as required by law, (ii) in response to a facially valid subpoena, court order, or other government order, or (iii) if Arbor Digital reasonably suspects that the transaction is erroneous, or is in violation of the Arbor Digital User Agreement.

2.8 Unsolicited Deposits. Unsolicited deposits into our bank account are subject to a processing fee of up to MYR300.00 per incidence. Arbor Digital reserves the right at its own discretion to either process or reject such deposits and associated orders. Any reversal of funds will require adequate (as determined by Arbor Digital) proof of payment, identification of payer, and proof of ownership of the originating account (where applicable).

Examples of unsolicited deposits include but are not limited to: making a deposit without a corresponding order; check, wire, or other non-cash deposits; depositing an amount that substantially exceeds the order amount; placing an order after a deposit has been made; any type of deposit resulting in circumvention of account limits.

2.9 Wrong or Partial Beneficiary Details. A processing fee of up to MYR15.00 per failed attempt may be assessed at Arbor Digital’s discretion for orders which we are unable to complete due to wrong or partial beneficiary information.

2.10 Arbor Digital reserves the right to refuse to process, or to cancel or reverse, any transactions, including purchases or sales of digital currency in its sole discretion, even after funds have been debited from your account(s), if Arbor Digital suspects the transaction involves (or has a high risk of involvement in) money laundering, terrorist financing, fraud, or any other type of financial crime; in response to a subpoena, court order, or other government order; if Arbor Digital reasonably suspects that the transaction is erroneous; or if Arbor Digital suspects the transaction relates to a Prohibited Business and/or Prohibited Use, as set forth below. In such instances, Arbor Digital will reverse the transaction. In the cases of digital currency transaction, we are under no obligation to allow you to reinstate a purchase or sale order at the same price or on the same terms as the cancelled transaction.

2.11 Arbor Digital will make reasonable efforts to ensure that requests for cash in to and/or cash outs from your Arbor Digital account are processed in a timely manner within our advertised processing times. But Arbor Digital makes no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control. Arbor Digital reserves the right to delay your cash in and/or cash out at any time. We will always notify you before you confirm your transaction, or within reasonable time after we introduce such delayed processing times.

 

3. Digital Currency.

3.1 Arbor Digital may cancel or reverse potentially high-risk buys or sells of digital currency, including those made using reversible payment methods.

3.2 Arbor Digital does not cancel or reverse digital currency-to-digital currency transactions, as long as they are accepted and confirmed on the blockchain network.

3.3 Arbor Digital keeps 100% of customer funds in storage. Arbor Digital does not engage in fractional reserve lending.

3.4 In the event Arbor Digital needs to retrieve funds from offline storage, there can be a delay in sending coins of up to 72 hours.

3.5 Arbor Digital does not guarantee the value of digital currency. You acknowledge that the price or value of digital currency can change rapidly, decrease, and potentially even fall to zero. You acknowledge that holding digital currency is high risk. You agree to deliver the agreed upon payment for digital currency upon confirmation of an order, regardless of changes in digital currency value.

3.6 Arbor Digital reserves the right to change the buy/sell limits and/or suspend trading activity on your account as we deem necessary.

3.7 The Arbor Digital services are available only in connection with those digital currencies that Arbor Digital, in its sole discretion, decides to support. The digital currencies that Arbor Digital supports may change from time to time. If you have any questions about which digital currencies Arbor Digital currently supports, please visit our support center. Under no circumstances should you attempt to use the Arbor Digital services to store, send, request, or receive digital currencies in any form that are not supported by Arbor Digital. Arbor Digital assumes no responsibility or liability in connection with any attempt to use Arbor Digital services for digital currencies that Arbor Digital does not support.

3.8 Operation of Digital Currency Protocols. Arbor Digital does not own or control the underlying software protocols which govern the operation of digital currencies available for buy/sell and/or supported through our platform. In general, the underlying protocols are open source and anyone can use, copy, modify, and distribute them. By using Arbor Digital, you acknowledge and agree (i) that Arbor Digital is not responsible for operation of the underlying protocols and that Arbor Digital makes no guarantee of their functionality, security, or availability; and (ii) that the underlying protocols are subject to sudden changes in operating rules (a.k.a “forks”), and that such forks may materially affect the value, function, and/or even the name of the digital currency you buy/sell at the exchange operated Arbor Digital. In the event of a fork, you agree that Arbor Digital may temporarily suspend the Arbor Digital services and operations (with or without advance notice to you) and that Arbor Digital may subsequently, in its sole discretion, (a) configure or reconfigure its systems or (b) decide not to support (or cease supporting) the forked protocol entirely, provided, however, that you will have an opportunity to withdraw funds from the platform. You acknowledge and agree that Arbor Digital assumes absolutely no responsibility whatsoever in respect of an unsupported branch of a forked protocol.

Arbor Digital will support only one fork of each digital currencies protocol which we determine, at our sole discretion, best reflects the consensus approach.

3.9 Digital Currency Transactions. Arbor Digital processes purchases and/or sales of supported digital currencies according to the instructions received from its customers and we do not guarantee the identity of any user, receiver or other party. You should verify all transaction information prior to submitting instructions to Arbor Digital. Once submitted to a digital currency network, a digital currency transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the digital currency network. A transaction is not complete while it is in a pending state. Funds associated with transactions that are in a pending state will be designated accordingly, and will not be included in your Arbor Digital Account balance or be available for transactions. Arbor Digital may charge network fees (miner fees) to process a digital currency transaction on your behalf. Arbor Digital will calculate the network fee in its discretion, although Arbor Digital will always notify you of the network fee at or before the time you authorize the transaction.

3.10 Arbor Digital securely stores all digital currency private keys in our control in a combination of online and offline storage. As a result, it may be necessary for Arbor Digital to retrieve certain information from offline storage in order to facilitate a digital currency transaction in accordance with your instructions, which may delay the initiation or crediting of such digital currency transaction for 72 hours or more. You acknowledge and agree that a digital currency transaction facilitated by Arbor Digital may be delayed.

3.11 Under no circumstances does any information contained on the Coins.my Site, or provided to you through your Account or by any employee, agent or affiliate of Arbor Digital, constitute financial, investment or other professional advice.

You are solely responsible for any decision to store, buy or sell cryptocurrency, and such decision should take into account your risk tolerance and financial circumstances. You should consult your legal or tax professional in relation to your specific situation. You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through your Coins.my Account, and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.

 

4. Unauthorized Uses.

Users are prohibited from using any Arbor Digital services, services provided to or in relation to other users, and related third party services, for or in relation to certain activities (“Unauthorized Uses”) which contravene the Agreement. This prohibition is designed to protect Coins Customers from wrongdoing and ensure compliance with local laws and international norms.

These categories are not exhaustive and are designed primarily for illustrative purposes. Any use of the services for the purpose of facilitating, participating in, or acting in relation any Unauthorized Uses can lead to service disruptions, changes in services, account deactivation or reporting to law enforcement. If you believe you are using Coins services for one of the purposes below, are seeking to use Coins services for that reason, or are unsure whether your use or intended use may be a Prohibited Use, you may contact Coins Support for clarity.

Prohibited Uses include transaction or activities related to:

  • (a) Investment Schemes: Support of pyramid schemes, ponzi schemes, network marketing, unlicensed investment vehicles, deceptive charity schemes, referral marketing programs or multi-level marketing programs;
  • (b) Fraud: Provision of any false, deceptive, inaccurate or misleading information to Coins, Coins users, or other third parties for pecuniary gain or other ends;
  • (c) Gambling: Online gambling, lotteries, casinos and informal gambling, gaming operations, sports betting, and other games of chance and forms of speculation;
  • (d) Unauthorized Financial Institutions and MSBs: Unlicensed money transmission, unlicensed financial services, and other unregulated financial operations. This also includes securities brokers, unlicensed investment vehicles, check cashing services, collections agencies, and bail bonds;
  • (e) Drugs: Illegal narcotics, drug paraphernalia, commercial drugs and other controlled substances, and other mind or body altering substances presenting a public health risk;
  • (f) Stolen Items: Stolen goods including digital and virtual goods, all goods for which seller does not have clear title;
  • (g) Intellectual Property Infringement: Items that infringe or violate any intellectual property rights, including trademark, copyright, privacy or any other proprietary rights. This includes the selling or facilitating of sales of counterfeit or unauthorized goods or activities related thereto;
  • (h) Shell Companies: Entities that appear to have no genuine business purpose or are otherwise designed to operate for a purpose other than that which they purport to operate under are prohibited;
  • (i) Bearer Shares Entities: Customers transacting with, on behalf of, or in relation to entities for which the identity of beneficial owners are not known and in which ownership stakes are freely alienable are prohibited;
  • (j) Adult Services and Media: Services involving prostitution, sale of illegal pornographic materials, and forms of human trafficking;
  • (k) High Risk Entities: Any individual, group, or entity deemed to pose an inordinately high risk to Coins, its customers, or other third parties may be considered unacceptably high risk and an unauthorized user;
  • (l) Violence: Violent acts towards self or others, or activities or items that encourage, promote, facilitate or instruct others regarding the same;
  • (m) Coercion: Extortion, blackmail, or efforts to induce unearned payment;
  • (n) Weapon Sales: Unlicensed sale of firearms and certain weapons.

 

5. Disputes with Arbor Digital.

5.1 Indemnification. You agree to indemnify and hold Arbor Digital, its parent, the officers, directors, agents, joint venturers, and employees harmless from any claim or demand (including attorneys’ fees) arising out of your breach of this Agreement or your use of Arbor Digital services.

5.2 Release of Arbor Digital. If you have a dispute with one or more users, you release Arbor Digital (and our parent, officers, directors, agents, joint ventures, employees and suppliers) from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. In addition, this release extends to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if not known by him must have materially affected his settlement with the debtor.

5.3 Disputes with Arbor Digital. If you think we have made an error, write to us at [email protected] In your correspondence, you must give us information sufficient to identify you, your account, and the transaction on which you believe an error occurred. You must contact us within 30 days after the transaction occurred. Within 90 days of receiving your request, we must either correct the error or explain to you why we believe the transaction was correct.

 

6. Restriction, Suspension and Termination.

Arbor Digital reserves the right to restrict, suspend or terminate your Account where:

  • We reasonably suspect your Account to be the subject of an operational or other error, in which case we may be required to suspend access to your account until such time as the error is rectified;
  • We reasonably suspect your Account has been or is being used in relation to any unlawful, fraudulent or activity among Prohibited Uses (please refer above), or in breach of these Terms;
  • We reasonably suspect you or your Account is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime;
  • We reasonably suspect you of taking any action that Arbor Digital considers to be a circumvention of the Company’s controls;
  • We reasonably suspect that you operating multiple Coins.my Accounts;
  • We reasonably suspect your involvement in any attempt to gain unauthorized access to another customer’s Account;
  • Your Coins.my Account is or appears to be the subject of any legal, regulatory or government process;
  • We are compelled to do so by a prima facie valid subpoena, court order, or other binding order of a government or regulatory authority; or
  • Your name appears on a government or international body sanctions list.

Arbor Digital will make all reasonable efforts to provide you with notice of any decision to restrict, suspend or terminate your Coins.my Account, unless we are prevented from doing so by any legal or regulatory process or requirement. You accept and agree that Arbor Digital is under no obligation to disclose to you the fact of or reason for any decision to restrict, suspend or terminate your Coins.my Account, and shall have no liability to you in connection with the restriction, suspension or termination of your Coins.my Account.

Account termination. Where Arbor Digital elects to terminate your Coins.my Account in accordance with the above, we shall (except where legally obligated not to) return your available cryptocurrency and/or Fiat balances to you pursuant to the procedure set out below:

  • Cryptocurrency. If you have an available balance, we will liquidate the cryptocurrency and deposit the value realized from the liquidation into your Fiat Currency wallet. Cryptocurrency conversion price will be calculated on the day on which the liquidation is performed. We will not send your any cryptocurrency to an alternative cryptocurrency wallet address. Any risk of a negative exchange rate fluctuation shall rest with you and you shall have no claim against Arbor Digital for any losses you may suffer as a result of the liquidation of your available balance of cryptocurrency.
  • Fiat Currency. We shall return to you your available balance. Payment shall only be made to you following submission to us of valid bank account details in your name, valid request for withdrawal of funds and valid ID. We shall not transfer fiat currency to any bank account in the name of a third party.

 

7. General Provisions.

7.1 Limitations of Liability. IN NO EVENT SHALL WE, OUR PARENT, THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF Arbor Digital OR OUR PARENT BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH OUR WEBSITE, Arbor Digital SERVICES, OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE). Some states do not allow the exclusion or limitation of incidental or consequential damages so the above limitation or exclusion may not apply to you. OUR LIABILITY, AND THE LIABILITY OF OUR PARENT, OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES.

7.2 No Warranty. Arbor Digital SERVICES ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OF WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. Arbor Digital, OUR PARENT, THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF Arbor Digital OR OUR PARENT SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. Arbor Digital does not have any control over the products or services that are paid for with Arbor Digital services and Arbor Digital cannot ensure that a buyer or a seller you are dealing with will actually complete the transaction or is authorized to do so. Arbor Digital does not guarantee continuous, uninterrupted or secure access to any part of Arbor Digital services, and operation of our site may be interfered with by numerous factors outside of our control. Arbor Digital will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards, and check issuances are processed in a timely manner but Arbor Digital makes no representations or warranties regarding the amount of time needed to complete processing because Arbor Digital services are dependent upon many factors outside of our control, such as delays in the banking system or mail service. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you. This paragraph gives you specific legal rights and you may also have other legal rights that vary from state to state.

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

7.4 Arbitration. Except for claims for injunctive or equitable relief or claims regarding intellectual property rights (which may be brought in any competent court without the posting of a bond), any dispute arising under this Agreement shall be finally settled by arbitration in accordance with the Arbitration Rules of the Singapore International Arbitration Center (“SIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. The Tribunal shall consist of one or more arbitrators (if one arbitrator cannot be designated by mutual agreement of the Parties) appointed in accordance with said rules. The venue for arbitration shall be Singapore, and the language of arbitration shall be English. The arbitral award shall be final and binding on the Parties and shall be enforceable in any court having jurisdiction. The prevailing party in any action or proceeding to enforce this Agreement shall be entitled to costs and attorneys’ fees.

7.5 Time Limitation on Claims. You agree that any claim you may have arising out of or related to your relationship with Arbor Digital must be filed within one year after such claim arose; otherwise, your claim is permanently barred.

7.6. Export Controls & Sanctions. The supply of digital currency and the Arbor Digital services through the Coins.my site is subject to Malaysia and international export controls and economic sanctions requirements. By acquiring any such items through the Arbor Digital site, you represent and warrant that your acquisition comports with and your use of the item will comport with those requirements. Without limiting the foregoing, you may not acquire digital currency or any of the Arbor Digital services through the Arbor Digital site if: (1) you are in, under the control of, or a national or resident of Cuba, Iran, North Korea, Sudan or Syria or any other country subject to United States embargo, UN sanctions, HM Treasury’s financial sanctions regime, or if you are on the U.S. Treasury Department’s Specially Designated Nationals List or the U.S. Commerce Department’s Denied Persons List, Unverified List, Entity List HM Treasury’s financial sanctions regime; or (2) you intend to supply the acquired digital currency or Arbor Digital Services to Cuba, Iran, North Korea, Sudan or Syria or any other country subject to United States embargo or UN sanctions (or a national or resident of one of these countries), or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List, Entity List, or HM Treasury’s financial sanctions regime.

 

Policy on Customers from the State of New York

In light of the recent New York “BitLicense” regulations we have regretfully decided to no longer service customers who are either residents of, or are located in the state of New York.

By signing up for an account with us or by using any of our products and services, you confirm that you are not a New York State resident or New York State legal entity, and that you will not be using our services from the State of New York.

 

Appendix 1: Prohibited Businesses and Prohibited Use

The following categories of businesses, business practices, and sale items are barred from Arbor Digital services (“Prohibited Businesses”). By opening a Arbor Digital account, you confirm that you will not use Arbor Digital services in connection with the following businesses, activities, practices, or items:

  1. Operating as an unlicensed money transmitter, money service, payment service provider, e-money, or any other financial services business which requires licensure, including but not limited to exchanges of virtual currencies, sales of money orders or traveler’s checks, and escrow services
  2. Counterfeit products or any product or service that infringes upon the copyright, trademark, or trade secrets of any third party
  3. Stolen goods
  4. Narcotics, controlled substances, prescription and pharmaceutical services, drug paraphernalia, or any substances designed to mimic illegal drugs
  5. Gambling, except where permitted by Arbor Digital
  6. Sports forecasting or odds making
  7. Prostitution or illegal escort services
  8. Violent acts towards self or others, or activities or items that encourage, promote, facilitate or instruct others regarding the same
  9. Funding any of the items included on this Prohibited Businesses list
  10. Extortion, blackmail, or efforts to induce unearned payments
  11. Unlicensed sale of firearms and certain weapons
  12. Engaging in deceptive marketing practices
  13. Any business that violates any law, statute, ordinance or regulation

You may not use your Coins.my Account to engage in the following categories of activity (“Prohibited Use”). By opening a Coins.my Account operated by Arbor Digital, you confirm that you will not use your Account to do any of the following:

  1. Violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to be a member (for example, those laws, rules, or regulations governing financial services, controlled substances, or consumer protections);
  2. Partake in a transaction which involves the proceeds of any unlawful activity;
  3. Partake in any transaction involving online gambling except where permitted by Arbor Digital;
  4. Defraud or attempt to defraud Arbor Digital or other Arbor Digital users;
  5. Infringe upon Arbor Digital’s or any third party’s copyright, patent, trademark, or intellectual property rights;
  6. Provide false, inaccurate or misleading information;
  7. Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
  8. Interfere with another individual’s or entity’s access to or use of any of the Arbor Digital services;
  9. Defame, abuse, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others;
  10. Publish, distribute or disseminate any unlawful material or information;
  11. Transmit or upload any material to the Arbor Digital site that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs;
  12. Harvest or otherwise collect information from the Arbor Digital site about others, including without limitation email addresses, without proper consent;
  13. Act as a payment intermediary or aggregator or otherwise resell any of the Arbor Digital services, unless expressly authorized by Arbor Digital in writing;
  14. Transfer any rights granted to you under this Agreement;
  15. Use the Arbor Digital account information of another party to access or use the Arbor Digital site, except in the case of specific Merchants and/or applications which are specifically authorized by a user to access such user’s Arbor Digital Account and information;
  16. Otherwise attempt to gain unauthorized access to the Coins.my Site, other Coins.my Accounts, computer systems or networks connected to the Arbor Digital site, through password mining or any other means;
  17. Engage in transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law;
  18. Take any action that Arbor Digital deems as circumventing Arbor Digital controls, including, but not limited to, opening multiple Arbor Digital Accounts or abusing promotions which Arbor Digital may offer from time to time;
  19. US Residents are prohibited from using Coins.my for money transmission or to conduct any other financial activity requiring licensure or covered by regulations governing financial services.