2. DEFINITIONS“Airdrop Program” means the provision of virtual currency by Blockchain Access UK LTD at no cost and on the terms set forth in Section 8.“API” means application programming interface, is not a Service and is governed by a separate agreement.“Blockchain Site” means the webpages and information available via blockchain.com and any Blockchain mobile application.“Compliance Program” means the requirements set by Blockchain for collecting, verifying, recording and reporting information about you, upon first accessing certain Services and on an ongoing basis, whether for our business risk-management purposes or to comply with legal requirements applicable to us.“Fork” means a change to the underlying protocol of a Virtual Currency network that results in more than one version of a Virtual Currency, the result of which may be one or more versions that are not supported by Blockchain.“Lockbox” means the electronic hardware key management device supported by the Wallet but provided by a third party as set forth in Section 7..The “PIT” means the electronic trade execution system provided by Blockchain Access UK LTD that is used for trading Virtual Currency on the terms set forth in Section 9.“Services” means one or more of the following services offered or provided by Blockchain via website or local application (mobile, desktop, or otherwise), including the Wallet, Lockbox, Swap, any Third Party Conversion Service, the Airdrop Program, Blockchain Site, and the PIT.“Swap” means the noncustodial conversion service provided by Blockchain Access UK LTD that allows you to exchange one virtual currency for another virtual currency or for fiat currency on the terms set forth in Section 6.“Third Party Conversion Service” means a noncustodial conversion service provided by a third party that allows you to exchange one virtual currency for another or for fiat currency on the terms set forth in Section 6.5.“User Account” means an account kept by Blockchain Access UK LTD for the PIT, the Airdrop Program, Swap and any Third Party Conversion Service. For the avoidance of doubt, no User Account is associated with a Wallet unless the Wallet is linked to one of the foregoing Services.“Virtual Currency” means a cryptocurrency, digital currency, digital asset, cryptoasset or other such similar term describing, for example, Bitcoin or Ether but does not include a derivative of a virtual currency, or a security, as defined under applicable law.“Wallet” means the wallet software published by Blockchain Luxembourg S.A., consisting of software that permits you to self-custody virtual currency, organize network addresses, view transaction history and transact in virtual currencies as set forth in Section 5.
3. COMPLIANCE WITH APPLICABLE LAWYour relationship with Blockchain and use of any of the Services may be subject to the laws, regulations, and rules of governmental or regulatory authorities in your or our jurisdiction (“Applicable Law”). By entering into this User Agreement, you agree to act in compliance with and be legally bound to any and all Applicable Law.
4. ACCESSING THE SERVICES4.1. Limited License. We grant you a limited, nonexclusive, nontransferable license to access and use the Services and the Blockchain Site solely in accordance with the terms of this Agreement.4.2 Credentials. You must keep secret all credentials associated with the Services. You are solely responsible for managing and maintaining the security of any information relating to such credentials and agree that Blockchain shall not be held responsible (and you shall not hold us responsible) for any unauthorized access to the Services or any resulting harm you may suffer.4.3 Compliance. Your access to one or more Services may be contingent upon satisfaction of our onboarding processes as well as our Compliance Program, which may include verification of your identity and source of funds, and additional information we may request from time-to-time. The information we request may include, without limitation, personally identifiable information such as network address, name, email, address, telephone number, date of birth, taxpayer identification or social security number, official government-issued photo identification, and bank account information or other information we may reasonably deem helpful in satisfying our risk management or legal obligations. In providing this information to us you represent that it is accurate and agree to update your User Account information promptly, but in no event later than 14 days following any change in your information. Failure to provide information or update it promptly may result in Services or funds being unavailable to you.4.4 Communications. Any and all communications from Blockchain may be provided to you via electronic mail at the address you provided when accessing the Services. Blockchain shall not be responsible for any harm you may suffer as a result of your failure to receive any notice provided to you in connection with this User Agreement or your use of Services so long as such notice is provided to such email address. Blockchain may also communicate with you through other methods, including via telephone call, instant messaging or chat applications either operated by Blockchain or a third party.4.5 Termination. We may close, terminate, enable or disable any or all of the Services, your User Account or your access to the Services at any time and for any reason. You may close your User Account at any time and for any reason. Depending on the Services available to you in your User Account, we may require you to take certain actions in order to complete a pending transaction or provide additional information prior to closing such User Account. You are solely responsible for any fees already incurred or associated with the closing of your User Account, whether incurred directly by you from Blockchain, or incurred by Blockchain on your behalf with a third party in order to complete any such action. Closing your User Account may not result in the deletion of information we hold about you or your activity.
5. THE WALLET5.1 Description.5.1.1 The Wallet is provided to you exclusively by Blockchain Luxembourg S.A. At no point will Blockchain ever take custody of Virtual Currency stored in a Wallet. The Wallet is only capable of supporting certain Virtual Currencies. Under no circumstances should you attempt to store Virtual Currencies in your Wallet that the Wallet does not support.5.1.2 When you create a Wallet, the Wallet software generates a cryptographic private and public key pair that you may use to send and receive any supported Virtual Currency via the relevant Virtual Currency network. YOU MUST STORE, OUTSIDE OF THE SERVICES, A BACKUP OF ALL WALLET CREDENTIALS, INCLUDING YOUR PASSPHRASES, IDENTIFIERS, BACKUP PHRASES, PRIVATE KEYS AND NETWORK ADDRESSES. If you do not maintain a backup of your Wallet data outside of the Services, you will not be able to access Virtual Currency previously accessed using your Wallet in the event that we discontinue or no longer offer some or all of the Services or may otherwise lose access to Virtual Currency. We are not responsible for maintaining this data on your behalf.5.2 Risk Disclosures Relating to the Wallet.5.2.1 In order to be completed, any Virtual Currency transaction created with the Wallet must be confirmed and recorded in the Virtual Currency ledger associated with the relevant Virtual Currency network. Such networks are decentralized, peer-to-peer networks supported by independent third parties, which are not owned, controlled or operated by Blockchain.5.2.2 Blockchain has no control over any Virtual Currency network and therefore cannot and does not ensure that any transaction details you submit via our Services will be confirmed on the relevant Virtual Currency network. The transaction details you submit via our Services may not be completed, or may be substantially delayed, by the Virtual Currency network used to process the transaction. We do not guarantee that the Wallet can transfer title or right in any Virtual Currency or make any warranties whatsoever with regard to title.5.2.3 Once transaction details have been submitted to a Virtual Currency network, we cannot assist you to cancel or otherwise modify your transaction or transaction details. Blockchain has no control over any Virtual Currency network and does not have the ability to facilitate any cancellation or modification requests.5.3 Forks. In the event of a Fork or other network disruption, Blockchain may not be able to support activity related to your Virtual Currency. In the event of a Fork, the transactions may not be completed, completed partially, incorrectly completed, or substantially delayed. Blockchain is not responsible for any loss incurred by you caused in whole or in part, directly or indirectly, by a Fork or other network disruption.5.4 No Password Retrieval.5.4.1 With respect to the Wallet, Blockchain does not receive or store your Wallet password, nor any keys, network addresses or transaction history. We cannot assist you with Wallet password retrieval. You are solely responsible for remembering, storing and keeping secret your Wallet password. Any Virtual Currency you have associated with such Wallet may become inaccessible if you do not know or keep secret your Wallet password. Any third party with knowledge of one or more of your credentials (including, without limitation, a backup phrase, wallet identifier or password) can dispose of Virtual Currency in your Wallet.5.4.2 When you create a Wallet, you must: (a) create a strong password that you do not use for any other website or online service; (b) provide accurate and truthful information; (c) protect and keep secret all credentials for the Wallet; (d) protect access to your device and your Wallet; (e) promptly notify us if you discover or otherwise suspect any security breaches related to your Wallet; and (f) use the backup functionality provided through the Wallet and safeguard your backup files. You agree to take responsibility for all activities that occur with your Wallet and accept all risks of any authorized or unauthorized access to your Wallet, to the maximum extent permitted by law.5.5 Fees. Blockchain does not currently charge a fee for the Wallet receiving, sending or controlling Virtual Currency. However, we reserve the right to do so in the future, and in such case shall display to you any applicable fees prior to you incurring the fee. Network fees (including, without limitation “miner’s fees”) required to use a Virtual Currency network may apply to a transaction. We may attempt to calculate such a fee for you. Our calculation may not be sufficient, or it may be excessive. You may select a greater or lesser fee. You are solely responsible for selecting and paying any such fee and Blockchain shall neither advance nor fund such a fee on your behalf, nor be responsible for any excess or insufficient fee calculation.
6. SWAP6.1 Description. We may provide Swap to you using the Wallet interface. Swap is provided to you exclusively by Blockchain Access UK LTD or a Third Party Conversion Service. Through Swap, Blockchain shall display to you a conversion rate that may include a fee, which you agree to pay. Swap works in connection with the Wallet, by which we shall deliver to you the requested Virtual Currency, less any applicable fees, by executing a transaction from a Virtual Currency address we control to one associated with your Wallet.6.2 Due Diligence. We may, at our sole discretion and from time-to-time, require you to satisfy our Compliance Program before participating in Swap or receiving funds. In order to use Swap, you agree to cooperate with any such request and pay any associated fees, which may be modified or supplemented at any time.6.3 No Cancellation. You may not cancel, reverse or change any Swap transaction. We may suspend, delay, redirect, reverse or cancel any Swap transaction at any time and for any reason. For example, and without limitation, we may do so if we suspect any risk of fraud, crime, breach of this User Agreement, or illicit activity.6.4 Transaction Limitation. We may implement Swap transaction limits. These may vary based on a variety of factors, including, without limitation, the time of your transaction, your location, the Virtual Currency purchased, and the Virtual Currency sold. We implement, raise and lower Swap transaction limits in our sole discretion.6.5 Third Party Conversion Service. On occasion, a third party service provider, selected by Blockchain in our sole discretion, may operate Swap. YOUR USE OF A THIRD PARTY CONVERSION SERVICE FOR SWAP SHALL BE ON AN ‘AS-IS’ BASIS. Blockchain is not your counterparty in any transaction completed via any Third Party Conversion Service and cannot be held liable for any loss caused in whole or in part, directly or indirectly, by your use of the Third Party Conversion Service.
7. LOCKBOX7.1 Description. We may advertise to you a Blockchain Lockbox hardware device to be used in connection with the Wallet or other Services. A Lockbox is manufactured, offered, sold and supported (if applicable) by third parties, not Blockchain. You have no relationship, contractual or otherwise, with Blockchain in connection with your purchase of a Lockbox from such third party. We do not act as a reseller. We may, from time-to-time, include features permitting you to use a Lockbox in connection with the Wallet. We do not guarantee support for, or access to, any Lockbox as part of the Services. We shall not be responsible for any damages caused in whole or in part, directly or indirectly, by a Lockbox or any use of a Lockbox, whether or not it was used in connection with the Services.7.2 No Password Retrieval.7.2.1 Blockchain does not receive or store passwords, keys, network addresses, transaction history, personal identification numbers (“PINs”) or other credentials associated with a Lockbox. We cannot assist you with Lockbox credential retrieval. You are solely responsible for remembering, storing and keeping secret any Lockbox credentials. Any Virtual Currency you have associated with a Lockbox may become inaccessible if you do not know or keep secret your credentials. Any third party with knowledge of one or more of your credentials (including, without limitation, a backup phrase or PIN) can dispose of Virtual Currency in your Lockbox.7.2.2 When you set up a Lockbox, you must: (a) create strong credentials (like PINs) that you do not use for any other service; (b) protect and keep secret all credentials; (c) protect access to your Lockbox; (d) promptly notify us if you discover or otherwise suspect any security breaches related to your Lockbox; and (e) use the backup functionality provided with the Lockbox, keeping all backup information secure and confidential. You agree to take responsibility for all activities that occur in connection with your Lockbox and accept all risks of any authorized or unauthorized access to your Lockbox, to the maximum extent permitted by law.7.3 Risk Disclosures Relating to the Lockbox.7.3.1 At no point will Blockchain ever take custody or control over any Virtual Currency stored using a Lockbox, nor will we have access to any credentials associated with your Lockbox or the ability to recover any Virtual Currency used in connection with a Lockbox.7.3.2 Information relating to Virtual Currency, like balances, availability or value, may not reflect the actual balance in real-time. You must independently verify all information before relying on it, and any decisions or actions taken based upon such information are your sole responsibility.7.4 Disclaimer of Warranties.7.4.1 Any Services offered in connection with the Lockbox are provided on an "AS IS" basis without any representation or warranty, whether express, implied or statutory. To the maximum extent permitted by applicable law, we specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement.7.4.2 We make no warranty that any Lockbox will be free from viruses, malware, or other related harmful material and make no representation that your ability to access any Lockbox will be uninterrupted. Any defects or malfunction in the product should be directed to the third party offering the Lockbox and not Blockchain. We shall not be responsible or liable to you for any loss of any kind, from action taken, or taken in reliance on material, or information, contained on or through the Lockbox.
8. AIRDROP PROGRAM8.1 Description. We may offer you the opportunity to receive Virtual Currency at no cost (“Airdrop”), subject to the terms described in this section. The Airdrop Program is provided to you exclusively by Blockchain Access UK LTD. The Virtual Currency is delivered by us to you, but is manufactured, offered and supported by the network creator or developer, if any, and not by Blockchain.8.2 Terms of Airdrop Program.8.2.1 No Purchase Necessary. There is no purchase necessary to receive Virtual Currency in an Airdrop. However, you must have a Wallet and a User Account. Although Blockchain does not charge a fee for participation in the Airdrop Program, we reserve the right to do so in the future and shall provide prior notice to you in such case.8.2.2 Timing. Each Airdrop shall be subject to any terms displayed in the Services and marked with an asterisk (*) or other similar notation.8.2.3 Limited Supply. An offer to receive Virtual Currency in an Airdrop is only available to you while supplies last. Once the amount of Virtual Currency offered by Blockchain in an Airdrop is exhausted, any party who has either been placed on a waitlist, or has completed certain additional steps, but not yet received notice of award of Virtual Currency in such Airdrop, shall no longer be eligible to receive Virtual Currency in that Airdrop. Blockchain reserves the right, in our sole discretion, to modify or suspend any Airdrop requirements at any time without notice, including the amount previously advertised as available.8.2.4 Eligibility. You may not be eligible to receive Virtual Currency from an Airdrop in your jurisdiction. In the event that you have multiple Wallets with Blockchain, you are only eligible to receive Virtual Currency from an Airdrop in one Wallet and for one User Account.8.2.5 Notice of Award. In the event you are selected to receive Virtual Currency in an Airdrop, we shall provide you with written notice of the pending delivery of such Virtual Currency. Eligibility may be limited as to time. We are not liable to you for failure to receive any notice associated with the Airdrop Program due to change in your contact information that was not updated by you prior to such time as the notice was delivered by us to you.8.3 Risk Disclosures Relating to Airdrop Program.8.3.1 You are solely responsible for researching and understanding the Virtual Currency network subject to the Airdrop. You may not rely on any of our statements concerning the foregoing.
9. THE PIT9.1 Description. We may offer you the ability to purchase and sell Virtual Currency for other Virtual Currency or fiat currency via the PIT subject to the terms of this Agreement. The PIT is provided to you exclusively by Blockchain Access UK LTD. Use of the PIT requires a User Account, which may require you to complete certain actions pursuant to our Compliance Program. Your use of the PIT is subject to the terms of the Trading Principles as amended from time to time. In the event of any inconsistency between this Agreement and the Trading Principles, this Agreement shall apply with respect to matters relating to this Section.9.2 Availability of Service. The PIT may not be available in all markets and jurisdictions. We may restrict or prohibit use of the PIT in certain jurisdictions (“Restricted Locations”), and change such restrictions or prohibitions at any time.9.3 General Obligations.9.3.1 Number of User Accounts. We may, in our sole discretion, limit the number of User Accounts that you may create or maintain. We may terminate or suspend any User Account that exceeds such limit, and liquidate, freeze or refund positions and funds associated with such User Account.9.3.2 Hardware and Software Requirements. We may limit use of the PIT to certain hardware devices and/or supported software. We do not guarantee that the PIT will be accessible through all manufacturers of electronic devices or software developers. Access to the PIT may also require certain hardware, software and security protocols, which could result in your inability to access the PIT.9.3.3 User Account Access. In the normal course of business, we will require login credentials to access your User Account. We may impose additional security measures to be used when you access the PIT, including but not limited to two-factor authentication (“2FA”). This 2FA may include security passcodes sent via mobile text message or electronic mail or an application designed to provide 2FA by other means. If prompted to install any such 2FA application, you are solely responsible for ensuring the security of any password or login credentials. We may provide data through such 2FA application in order to authenticate your use of the PIT. We cannot be held responsible for any damage caused by a 2FA device, software or method.9.3.4 PIT Communications. Blockchain may offer a “chat” or “messaging” feature in connection with the PIT , use of which will allow you to communicate with other PIT Participants (as such term is defined in the Trading Principles). Use of any such feature is subject to both the terms of this Agreement and the Trading Principles. Blockchain may suspend or terminate your use of any such messaging feature, in our sole discretion, for any reason, with or without notice. All communications made on any such feature are subject to surveillance and retention by Blockchain and may be produced by us in response to a request for information from law enforcement, a governmental agency or regulatory authority. Any such feature is not a method of execution, and any communications relating to transactions are for discussion purposes only. All orders must be executed via the PIT’s order process.9.3.5 User Account Information. You will be able to view certain details of your account history as determined by Blockchain, up to a specific period of time as determined by Blockchain in our sole discretion. This account history may include information such as: (a) your fiat balance; (b) your Virtual Currency balance; (c) executed transaction details; (d) unexecuted transaction details; and (e) deposit and withdrawal information.9.4 Deposits and Withdrawals to Your User Account.9.4.1 Funding Your User Account. In order to complete a Virtual Currency transaction, you will need sufficient funds in your User Account, either in the form of Virtual Currency or fiat currency, depending upon the order type you select. Blockchain may not support all funding methods at all times. You are solely responsible for your use of any external account, provider, or service used to transfer funds to your User Account. The timing associated with any deposit will vary and may depend in part upon the performance of third parties unrelated to Blockchain. We shall not be responsible for damages resulting from failed or delayed funding.126.96.36.199 Treatment of Fiat Funds. We shall hold fiat currency deposited by you in a bank account. Each such account is separate from our operating bank account(s). Your use of the PIT does not create or represent any relationship between you and any of our banks and such account may not be in your name or for your benefit.188.8.131.52 Treatment of Virtual Currency. We may store Virtual Currency you deposit for use on the PIT in a “hot wallet”, “cold wallet” or other storage method in our sole discretion. We shall record your ownership of your Virtual Currency in our records. We shall not loan, hypothecate, pledge, or otherwise encumber any Virtual Currency deposited by you for use on the PIT.9.4.2 Withdrawing Funds from Your User Account. In the event that the balance of available funds in your User Account is greater than any minimum balance requirement needed to satisfy all open orders, you may request a withdrawal of Virtual Currency or fiat currency, as applicable. You are solely responsible for losses resulting in whole or in part from any external account, provider, or service. We cannot guarantee the timing of any withdrawal request. Requests may be delayed or canceled as part of our Compliance Program.9.4.3. Payment Service Providers. We may, at our discretion, use a third party payment service provider to process deposit and withdrawal requests in fiat currencies. Upon making a deposit or withdrawal request for fiat currency, you may be directed away from the PIT or Blockchain Site to a third party website. In such case, you are solely responsible for any actions taken on such website and we shall not be liable for any loss resulting in whole or in part from such website or provider.9.4.4 Deposit and Withdrawal Limits. We may, in our sole discretion, impose daily, weekly, monthly, or other periodic limits on deposits and withdrawals, which we may implement, eliminate, increase or decrease without advance notice.9.5 PIT Activity.9.5.1 Order Types. We shall, from time-to-time, offer you different types of orders that may be placed on the PIT. The Trading Principles contain more additional information on order types. We do not guarantee any order you place on the PIT will be executed or executed at any particular time.9.5.2 Cancellation Policy. The PIT is an active and live marketplace. By entering any order, you are bound to its terms and may not be able to cancel such order. You must review all of the details prior to entering an order on the PIT, including the quantity and price of the Virtual Currency to be bought or sold, as well as the amount of funds, either Virtual Currency or fiat currency, that will be required in connection with your trade request. Please see the Trading Principles for additional information on Blockchain’s cancellation practices.9.6 Fees. You must pay any fees associated with your use of the PIT. Generally, Blockchain will debit fees for orders from the total cost of your order. Blockchain may charge other fees, or process fees in an alternative manner, but only with prior written notice to you. On the Blockchain Site, we shall post a fee schedule that we may amend at any time in our sole discretion, with prior written notice to you. In the event you are found to owe us any amount of fiat currency or Virtual Currency, we may offset such amount against any funds we hold for you, whether in Virtual Currency or fiat currency.
10. GENERAL RISK FACTORSYour use of the Services requires you to bear risks for which we cannot be held responsible. We list some, but not all of these risks below:Hardware, software or connections required to interact with a Virtual Currency network might fail, succumb to malware, unauthorized access or malicious attacks. Third parties may obtain unauthorized access to the Services, including, but not limited to your public and private keys. Blockchain shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Services, however caused.Forks, unknown vulnerabilities in or unanticipated changes to the network protocol may cause losses to you or others. Blockchain has no control over any cryptocurrency network and shall not be responsible for any harm occurring as a result of the inability to reverse a transaction, and any losses in connection therewith due to erroneous or fraudulent actions.The risk of loss of value in using Services involving Virtual Currencies may be substantial and losses may occur over a short period of time. In addition, price and liquidity are subject to significant fluctuations that may be unpredictable.Virtual Currencies are not legal tender and are not backed by any sovereign government. In addition, the legislative and regulatory landscape around Virtual Currencies is constantly changing and may affect your ability to use, transfer, or exchange Virtual Currencies.Under certain market conditions you may find it difficult to liquidate a position. In such circumstances, the PIT may not have sufficient demand to meet your request to execute such a transaction. Placing contingent orders, such as a “stop” or “limit” order does not guarantee your potential loss will be limited to an intended amount, as market conditions may make it difficult to execute such orders. You may suffer losses due to orders executing at lower or higher values than anticipated or requested.Virtual Currency transactions may not be reversible. Once you send Virtual Currency to an address, you may lose access to your Virtual Currency temporarily or indefinitely. For example, an address may have been entered incorrectly, or an address may belong to an entity that will not return your Virtual Currency. Virtual Currency mistakenly sent to an address we control may not be recoverable.
11. GENERAL PROVISIONS11.1 Intellectual Property.11.1.1 Unless otherwise indicated by us, all intellectual property rights and any content provided in connection with the Blockchain Site or the Services, are the property of Blockchain or our licensors or suppliers and are protected by applicable intellectual property laws. We do not give any implied license for the use of the contents of the Blockchain Site or the Services.11.1.2 You accept and acknowledge that the material and content contained in or delivered by the Blockchain Site or the Services is made available for your personal, lawful, non-commercial use only and that you may only use such material and content for the purpose of using the Blockchain Site or the Services as set forth in this Agreement.11.1.3 You further acknowledge that any other use of content from the Blockchain Site or the Services is strictly prohibited and you agree not to infringe or enable others to infringe our intellectual property rights. You agree to retain all copyrighted and other proprietary notices contained in the material provided via the Blockchain Site or the Services on any copy you make of the material but failing to do so shall not prejudice Blockchain’s intellectual property rights therein.11.1.4 You may not sell or modify materials derived or created from the Blockchain Site or the Services or reproduce, display, publicly perform, distribute or otherwise use the materials in any way for any public or commercial purpose. Your use of such materials on any other website or on a file-sharing or similar service for any purpose is strictly prohibited. You may not copy any material or content derived or created from the Blockchain Site or the Services without our express, written permission.11.1.5 Any rights not expressly granted herein to use the materials contained on or through the Blockchain Site or the Services are reserved by Blockchain in full.11.2 Accuracy of Information.11.2.1 We endeavour to verify the accuracy of any information displayed, supplied, passing through or originating from the Services, but such information may not always be accurate or current. Accordingly, you should independently verify all information before relying on it, and any decisions or actions taken based upon such information are your sole responsibility.11.2.2 We make no representation or warranty of any kind, express or implied, statutory or otherwise, regarding the contents of the Services, information and functions made accessible through the Services, any hyperlinks to third party websites, or the security associated with the transmission of information through the Services, or any website linked to the Services.11.3 Third Party Services and Content.11.3.1 In using the Services, you may view content or services provided by third parties, including links to web pages and services of such parties (“Third Party Content”). We do not control, endorse or adopt any Third Party Content and have no responsibility for Third Party Content, including, without limitation, material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable in your jurisdiction. In addition, your dealings or correspondence with such third parties are solely between you and the third party.11.3.2 We are not responsible or liable for any loss or damage of any sort incurred as a result of any such dealings and your use of Third Party Content is at your own risk.11.4 Cooperation with Law Enforcement. Blockchain may, from time-to-time, respond to requests from third parties, courts, law enforcement, regulators and policymakers by producing certain information about or relating to your use of the Services.11.5 Recordkeeping. Depending on the Services used by you, Blockchain reserves the right, in our sole discretion, to create and maintain certain records of your activity and communications relating to your User Account.
12. FEEDBACK AND COMPLAINTS12.1 Feedback.12.1.1 Blockchain strives to improve its Services to address feedback. If you have ideas or suggestions regarding improvements or additions to the Services, we would like to hear them; however, any submission shall be subject to this User Agreement.12.1.2 Under no circumstances shall disclosure of any idea or feedback, or any related material to Blockchain be subject to any obligation of confidentiality or expectation of compensation.12.1.3 By submitting an idea or feedback or any related material that would be subject to intellectual property rights (the “Work”) to Blockchain, you grant to Blockchain, with respect to the Work submitted, a non-exclusive, perpetual, global, royalty-free license to use all of the content of such ideas and feedback, for any purpose whatsoever.12.1.4 By submitting Work, you are waiving any moral rights to the fullest extent permitted under law that you may have in the Work and are representing and warranting to Blockchain that the Work originated with you, no one else has any rights in the Work, and that Blockchain is free of any royalty to implement the Work and to use the related material if so desired, as provided or modified by Blockchain, without obtaining permission or license from any third party.12.1.5 Blockchain may sub-license in any way all Work and material you have submitted to Blockchain.12.2 Technical Support. We shall use commercially-reasonable efforts to supply email-based technical support services, but cannot guarantee immediate responses, especially during times of high volume.
13. REPRESENTATIONS, WARRANTIES, INDEMNIFICATION AND LIMITATIONS OF LIABILITY13.1 No Violation of Law. You represent and warrant to us that you: (a) are not located in, under the control of, or a resident of any Restricted Location or any country to which the United States has embargoed goods and services; (b) are not identified as a “Specially Designated National” by the United States Treasury Department; and (c) shall not use the Services if you are prohibited by any applicable law, regulation, or rule from doing so.13.2 Acceptable Use of Blockchain Services. When accessing or using the Services, you agree that you are solely responsible for your conduct while accessing and using our Services. Without limiting the generality of the foregoing, you agree that you shall not:
- use the Services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying the Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;
- use the Services to pay for, support or otherwise engage in any illegal activities, including, but not limited to illegal gambling, fraud, money laundering, or terrorist activities;
- use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access our Services or to extract data;
- use or attempt to use another person’s User Account, or credentials without authorization;
- attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
- introduce to the Services any virus, Trojan, worms, logic bombs or other harmful material;
- develop any third-party applications that interact with our Services without our prior written consent;
- provide false, inaccurate, or misleading information; or
- encourage or induce any other person to engage in any of the activities prohibited under this Section.
14. MISCELLANEOUS14.1 Force Majeure. If by reason in whole or in part of any Force Majeure Event, either you or Blockchain is delayed or prevented from complying with this User Agreement, then such delay or non-compliance shall not be deemed to be a breach of this User Agreement and no loss or damage shall be claimed by you or Blockchain by reason thereof. “Force Majeure Event” means any event beyond the party’s reasonable control, including, but not limited to, flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, failure in bank performance, or equipment or software malfunction including network splits or “forks” or unexpected changes in a computer network upon which the Services rely.14.2 Taxes. It is your responsibility to determine what, if any, taxes apply due to your use of Blockchain Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. Blockchain is not responsible for determining whether taxes apply to your Virtual Currency transactions or for collecting, reporting, withholding or remitting any taxes arising from any virtual currency transactions.14.3 Severability, Reformation. In the event that any provision of this User Agreement is unenforceable under applicable law, the validity or enforceability of the remaining provisions will not be affected. To the extent any provision of this User Agreement is judicially determined to be unenforceable, a court of competent jurisdiction may reform any such provision to make it enforceable. The provisions of this User Agreement will, where possible, be interpreted so as to sustain its legality and enforceability.14.4 Assignment. This User Agreement shall be binding on your successors, heirs, personal representatives, and assigns. You may not assign or transfer any of your rights or obligations under this User Agreement without prior written consent of Blockchain, which may be withheld in Blockchain’s sole discretion. We may assign rights or delegate duties under this User Agreement in our sole discretion.14.5 Relationship of the Parties. Nothing in this User Agreement is intended to, nor shall create any partnership, joint venture, agency, consultancy or trusteeship. You and Blockchain are independent contractors for purposes of this User Agreement.14.6 Entire Agreement. This User Agreement constitutes the entire agreement among the Parties with respect to the subject matter described herein and shall supersede all prior agreements and understandings, written or oral, among the Parties. Subsequent discussions or negotiations between you and Blockchain or Blockchain personnel shall only amend or become part of this User Agreement by way of a written amendment specifically referencing the last updated date and name of this User Agreement.14.7 Contact Information. For any purpose other than technical support requests, you may contact us by registered post or courier: Blockchain Luxembourg S.A.; 4eme etage a L-2340; Luxembourg 1, rue Philippe II. For technical support requests only, you may submit a request via our Support tool at: https://support.blockchain.com .
15. DISPUTE RESOLUTION FOR UNITED STATES USERS15.1 Disputes. If you live in the United States (or, if you are a business, have your principal place of business in the United States), any dispute arising between you and us under this User Agreement or our relationship (whether arising out of contract, tort, statute or any other manner) shall be settled in binding arbitration, in accordance with the Federal Arbitration Act under the American Arbitration Association’s rules; provided, however, nothing in this Agreement will waive, preclude or otherwise limit your right to (i) bring an individual action in a U.S. small claims court or (ii) file a representative action solely to obtain a public injunction.15.2 Arbitration. The arbitration will be conducted by a single, neutral arbitrator and shall take place in the county or parish of your billing address, or another mutually agreeable location, in the English language. The arbitrator shall apply the law of the state of New York, without regard to its conflict of laws principles. The arbitrator may award any relief that a court of competent jurisdiction could award, including attorneys' fees when authorized by law, and the arbitration decision may be enforced in any court. You agree that the arbitrator shall have the authority to order relief, and you agree to abide by all decisions and awards rendered in such a proceeding, which shall be final and conclusive. At your request, hearings may be conducted in person or by telephone and the arbitrator may provide for submitting and determining motions on briefs, without oral hearings. The prevailing party in any action or proceeding to enforce this agreement shall be entitled to reasonable costs and attorneys' fees.15.3 If the arbitrator(s) or administrator imposes filing fees or other administrative costs on you, we will reimburse you, upon request, to the extent such fees or costs would exceed those that you would otherwise have to pay if you were proceeding instead in a court. If a court decides that any provision of this section concerning Arbitration is invalid or unenforceable, that provision shall be severed and resolved in accordance with English law exclusively and the other parts of this section concerning Arbitration shall still apply. In no case shall the remainder of this User Agreement be affected. If the invalidity or unenforceability of a provision causes a dispute to proceed in a court instead of arbitration, the Parties agree that such court must be located in London, England, applying English law.15.4 No Trial by Jury. By entering into this User Agreement, you expressly waive your right to a trial by jury and right to participate in a class action lawsuit.
16. DISPUTE RESOLUTION FOR NON-U.S. USERS16.1 If you live outside of the United States (or, if you are a business, have your principal place of business outside of the United States), any dispute arising between you and us under this User Agreement or our relationship (whether arising out of contract, tort, statute or any other manner), the courts located in London, England shall have exclusive jurisdiction of such dispute, and will hear the dispute under English law.
legalBlockchain Luxembourg S.A.Trading PrinciplesLast Updated: July 30, 2019
Blockchain’s PIT allows Participants to execute Virtual Currency purchase and sale transactions in real-time with both other Virtual Currencies and fiat currencies. The PIT will be available to both retail and institutional customers, and will offer real-time price discovery and trade execution in virtual currencies, across various pairs of both virtual-to-virtual and fiat-to-virtual legs.In order to provide a fair and orderly marketplace and prevent against potential market misconduct, Blockchain has developed the following principles and standards which must be followed by all Participants (“Principles”). All Participants who are approved to use the PIT agree and understand to abide by these Principles, which have been designed to prevent deceptive or manipulative conduct.Blockchain may amend these Principles at any time and any such changes will take effect when posted on the Blockchain website, or when a Participant logs on to the PIT.
SECTION 1. ACCESS TO THE PLATFORM1.1 Eligibility. An individual or entity is eligible to become a Participant only if such individual or entity agrees to the Blockchain Terms of Service (and any other applicable agreement).1.2 Trading Privileges. Upon completion of onboarding requirements, Participants will receive Trading Privileges, which are non-assignable, non-transferable and may not be sold or leased.1.3 Blockchain may deny a Participant’s Trading Privileges or revoke, suspend or otherwise condition a Participant’s Trading Privileges at any time and for any reason as set forth in the Blockchain User Agreement. Some important reasons are:
- if Blockchain believes such Participant has not or may not adhere to these Principles, Applicable Law or the Blockchain User Agreement;
- if servicing such Participant could bring the Blockchain into material disrepute; or
- if servicing such Participant could interfere with Blockchian’s provision of high quality services to other participants.
SECTION 2. OBLIGATIONS OF USERS2.1 Maker/Taker Pricing. Blockchain charges fees based on a Maker/Taker pricing model. A maker order adds liquidity to the market. A taker order removes liquidity from the market. Maker orders, when executed, carry a lower transaction fee intended to reward those who bring liquidity to the PIT.2.2 Market Maker Programs. Blockchain may, from time to time, establish programs that offer professional market makers financial incentives for meeting trading volume, liquidity or other thresholds, as established by Blockchain.
- 2.3 Each Participant, to the extent applicable, shall:
- use the PIT in a responsible manner and not for any improper purpose;
- use the PIT only to exercise Trading Privileges in a manner consistent with these Principles;
- observe high standards of integrity, market conduct, fair dealing, and similar equitable principles of trade in conducting any activity on or through the PIT and in all aspects of its business connected with or concerning the PIT; and
- keep all credentials related to the PIT confidential and secure.
SECTION 3. ORDER ENTRY TYPES AND ORDER HANDLING
- 3.1 Orders. All orders are accepted and executed in Blockchain’s discretion.
- Blockchain will limit a Participant’s ability to place Orders consistent with the Participant’s deposits on the PIT.
- Blockchain will reduce a Participant’s ability to place orders according to the value of the Participant’s open Orders plus estimated fees.
- A Participant may place an Order as either a Limit Order, a Market Order, or a Stop Order.
- A Participant may request to cancel a Stop Order or an unexecuted Limit Order at any time before it is executed, which may or may not be honored by Blockchain. No fees are charged for canceled Orders.
- Blockchain may cancel an Order on the request of a Participant for reasons including the Participant’s inability to cancel such Order due to technological difficulties.
- 3.2 Limit Orders. Limit Orders may be placed with one or more of the following instructions.
- Good Til Cancelled: If posted, unfilled Orders remain on the order book for 95 days or until canceled by the Participant.
- Immediate or Cancel: This Order attribute instructs the PIT to cancel any remaining size after the Order matches against the order book. A minimum quantity instruction can be added to an Immediate or Cancel Order if a Participant desires to only allow an execution if a minimum size is met.
- Fill or Kill: specifies that the Order should be filled immediately and entirely. If the full Order can not be filled, it should be cancelled.
- Good Till Date: Allows a Participant to select an expiration date for the Order which can be any date within the next 95 days of Order entry.
- Add Liquidity Only: If the Order will match with anything on entry, then it will be cancelled. This attribute can be used if a Participant wishes to add liquidity to the order book.
- 3.3 Market Orders
- A Market Order is a buy or sell order to be executed immediately at the current market price. Market Orders do not carry a limit price and will trade with anything on the order book. Market Orders default to Immediate or Cancel but they can also be sent as Fill or Kill.
- Market Orders will not rest on the order book. If a Market Order can only be partially filled given the existing depth of the market, then the remaining quantity will be automatically cancelled.
- During periods of high volume, fast market conditions, illiquidity, or volatility in the marketplace, the actual price that a Market Order is executed at may be different from the best price indicated at the time of your Order, in some cases significantly so.
- A valid Market Order will be immediately posted to the PIT. Participants may not cancel a Market Order.
- Market Orders may be placed with the following instructions: Immediate or Cancel or Fill or Kill.
- 3.4. Stop Orders
- A Stop Order is an Order that will rest off of the order book and wait for the market to move into its stop price. This must be an Order outside of the current market price. For a sell Order, the stop price must be below the current last sale.
- A Stop Order is not posted to the PIT and is not visible to other Participants, but any resulting Order is posted and visible.
- A Stop Order can be placed as either a Stop Market Order, which posts a Market Order when the stop price is triggered, or a Stop Limit Order, which posts a Limit Order when the stop price is triggered. Buy Stop and Buy Stop Limit Orders are not accepted at this time.
- Stop Limit Orders may be placed with one of the following instructions: Good Til Cancelled, or Good Till Date.
3.5 Order Sizes. All Orders are subject to minimum and maximum sizes according to the corresponding Virtual Currency. Participants may find a list of such minimum and maximum Order sizes on the Blockchain website.
- 3.6 Order Handling
- Order handling rules have been carefully constructed in order to offer a fair and equitable marketplace. Generally speaking, orders that are routed to the order book are prioritized first by price and then by time. Buy Orders at the highest price are prioritized first over the the oldest Order placed in the order book. Similarly, sell Orders at the lowest price are prioritized first over the oldest Order placed in the order book. Market Orders take priority over Limit Orders, which will not be ranked on the order book until they are triggered.
- Binding Obligation. Any Order placed by a Participant and accepted by Blockchain is a firm Order and represents a binding obligation by the Participant to buy or sell the specified quantity of Virtual Currency.
- 3.7. No Cancellation or Modification of Transactions. All Transactions are final and will not be reversed except in Blockchain’s sole discretion. Blockchain may reverse a Transaction, for example, in the following circumstances:
- Blockchain is compelled to do so by any Applicable Law; or
- Due to a serious technical error, Transactions do not occur as specified in these Principles, - in which case Blockchain would make reasonable efforts to restore Participants to the position they would have been in had the technical error not occurred.
3.7.1 Cancellation of Orders by Participants. The Participant understands that when they place a request to cancel an Order, such cancellation request may not be executed. The Order will be canceled only if the request to cancel is received by Blockchain before it is executed. Mere submission of a cancellation request prior to confirmation of a Transaction does not ensure that an Order will not be executed.
- 3.7.2 Cancellation of Orders by Blockchain. Orders that are not yet Transactions may be cancelled by Blockchain in the following circumstances:
- Orders placed by Participants who, in Blockchain’s sole discretion, have engaged in abusive use of the PIT;
- Orders which under the circumstances and in Blockchain’s sole discretion involve an obvious error with respect to price, quantity, or other parameters, as described in Section 4.10 of these Principles;
- If required by Applicable Law, including but not limited to circumstances where Blockchain is required to suspend or terminate a Participant’s Trading Privileges; or
- If required for technical reasons, in Blockchain’s sole discretion.
SECTION 4. MARKET CONDUCT PRACTICES4.1 Market Manipulation. No Participant shall engage in any conduct, either with the intent to manipulate, or that which results in the manipulation of the Virtual Currency markets.4.2 Fraud. No Participant shall engage in fraud or deception in connection with the use of the PIT.4.3 Illicit Transactions. No Participant shall use the PIT in connection with illicit activity, including money laundering, financial crimes, the financing of terror or any other illegal activity.4.4 No Misuse of Information. No Participant shall use information gained from the PIT for purposes or services which PIT were not designed to provide Participants. No Participant shall resell information provided by the PIT or use any robots, spiders, scraping or other technology to access, query, or use the PIT to obtain any such information.4.5 Front Running. No Participant shall enter or solicit a bid, offer, or Order through the PIT when in possession of material nonpublic information about another Bid.4.6 Wash Trading. No Participant shall engage in any conduct that results in a transaction with no economic or legitimate purpose. This includes the practice of engaging in wash trading, or otherwise entering Orders for different accounts with common beneficial ownership with the intent to evade or negate market risk or price competition.4.7 Coordination. No Participant shall coordinate actions with other Participants that are designed to disrupt or otherwise create the false appearance of legitimate market activity. Coordination includes directing another market participant, to enter into, or alter, a transaction with specific details, either in a threatening, intimidating, collusive or otherwise improper manner. Coordination also refers to the practice of pre-arranged trading, where two (2) or more Participants use the PIT after previous discussions with an intent to profit from or merely disrupt the competitive nature of the PIT.4.8 Spoofing / General Misconduct. No Participant shall engage in activity that is designed to disrupt or otherwise manipulate the Virtual Currency or other financial markets, which includes engaging in the practice of Spoofing.4.9 Self-Trading. No Participant shall take, directly or indirectly, the opposite side of the Order for its own account, an account in which it has a direct or indirect financial interest, or an account over which it has discretionary trading authority.
SECTION 5. SYSTEM AVAILABILITY5.1 Availability. With limited exceptions, Blockchain’s goal is to make markets available to Participants for monitoring and transacting 24 hours a day.5.2 No Guarantee of Uninterrupted Access. Blockchain does not guarantee uninterrupted PIT access, that any Order will be posted, that any Order cancellation will take place or that any Order will be filled. Blockchain may suspend access without prior notice during scheduled or unscheduled system repairs or upgrades and to modify the PIT at any time without prior notice.5.3 Regular Scheduled Maintenance. The PIT undergoes regular maintenance. During such times, some or all of the PIT’s functionality may be unavailable to Participants. In order to minimize disruption to the PIT, its Participants and the Virtual Currency marketplace as a whole, Blockchain will often publish regular maintenance. Upon resumption of operations, Blockchain will work to ensure the PIT undergoes an orderly auction restart process.5.4 Unscheduled System Maintenance or System Disruptions. Blockchain may temporarily halt operations in the event that the PIT requires unanticipated maintenance. In the event of any such required maintenance, some or all PIT functionality may be unavailable to Participants. The PIT may experience disruptions in service, including but not limited to unexpected computer or virtual currency network functionality or speed, partner or vendor outages, or cybersecurity incidents. In any such case, some or all PIT functionality may become unavailable or unreliable, requiring Blockchain to halt operation of the PIT. Notice of such a disruption may be posted on Blockchain’s website. During the course of any such unexpected disruption, Blockchain will take work to timely restore PIT functionality.
SECTION 6. MISCELLANEOUS6.1 Transaction Confirmation. For each Transaction , Blockchain will provide a Participant that is a party to the Transaction an electronic record of the material terms of such Transaction at the time of execution, which will serve as a confirmation of the Transaction (“the Confirmation“). Access to this Confirmation will be provided by tools that allow Participants to review their transaction history.6.2 OTC Trading Desk. Blockchain operates an over-the-counter trading desk that facilitates purchase and sale transactions in Virtual Currency on a proprietary basis and for institutional and high net-worth individuals. For more information about Blockchain’s OTC trading desk and other product offerings, Participants may visit the Blockchain website.
SECTION 7. DEFINITIONSWhen used in these Principles, the below terms shall have the following meaning:7.1 “Applicable Law” means any rule, regulation, legislation, statute or other directive from a governmental or self-regulatory authority applicable to Participant or Blockchain.7.2 “Limit Order” means an Order to purchase or sell a Virtual Currency at a specified price or better.7.3 “Market Order” is an Order to buy or sell a specified quantity of Virtual Currency at the best available price of existing Orders.7.4 “Order” means either a bid or an offer for a Virtual Currency accepted by Blockchain and made by a Participant with Trading Privileges and the intent that such Order result in a valid Transaction.7.5 “Participant” means an individual or entity that is granted Trading Privileges to access and use the PIT.7.6 “PIT” means Blockchain’s electronic trade execution system that is used for trading Virtual Currency on the terms set forth in these Trading Principles.7.7 “Spoofing” means the practice of entering bids, offers or Orders with an intent to cancel prior to any such Order being filled.7.8 “Stop Order” means an instruction to post an Order to buy or sell a specified quantity of Virtual Currency but only if and when the last trade price equals or surpasses the stop price.7.9 “Trading Privileges” means any right granted to a Participant to transmit Orders and execute Transactions on or through the PIT.7.10 “Transaction” means the successful execution of two valid Orders on the PIT.7.11 “Virtual Currency” means a cryptocurrency, digital currency, digital asset, cryptoasset or other such similar term describing, for example, Bitcoin or Ether, but does not include a derivative of a virtual currency or a security.
1. Information About BlockchainOur Services are offered through one or more subsidiaries of Blockchain Luxembourg S.A. By using the Services, you understand that your Personal Data may be used by one of the following entities (each, a “Controller”):
- Blockchain Access UK Ltd.; and
- Blockchain Luxembourg, S.A.
2. Collecting of Personal DataWhen you access or use the Services, we collect the following information:Information You May Provide to Us: You may give us information about you by filling in forms on our website or through our app or by corresponding with us by phone, email or otherwise. This includes information you provide when you register to use the Services and when you report a problem with the website or with our app.
- Information We Automatically Collect About You: With regard to each of your visits to our website or our app we automatically collect the following information:
- Login Information: We log technical information about your use of the Services, including the type of browser and version you use, the wallet identifier, the last access time of your wallet, the Internet Protocol (IP) address used to create the wallet and the most recent IP address used to access the wallet.
- Device Information: We collect information about the device you use to access your account, including the hardware model, operating system and version, and unique device identifiers, but this information is anonymized and not tied to any particular person.
- Wallet Information: If you create a Blockchain Wallet through our Services, you will generate a public and private key pair. When you log-out of the Wallet, we collect an encrypted file, that, if unencrypted, would contain these keys, along with your transaction history. When you enable notifications through your Account Settings, we will collect the unencrypted public key in order to provide such notifications. Under no circumstances do we collect an unencrypted private key from you, nor can we decrypt any Wallet file data.
- Transaction Information: In connection with our Conversion Service, as such term is defined in our User Agreement, we may collect and maintain information relating to transactions you effect in your Wallet that convert one virtual currency to another (e.g. Bitcoin for Ether).
- Information We Collect Required By Law, Rule, or Regulation: Depending on the Service, we may collect information from you in order to meet regulatory obligations around know-your-customer (“KYC”) and anti-money laundering (“AML”) requirements. Information that we collect from you includes the following:
- Full name
- Residential address
- Contact details (telephone number, email address)
- Date and place of birth, gender, place of citizenship
- Bank account information and/or credit card details
- Your status as a politically exposed person
- Source of funds & proof of address
- Passport and/or national driver’s license or government-issued identification card to verify your identity
- Transaction history and account balances in connection with your use of certain Services.
- Information We Collect from Other Sources: We also receive information from other sources and combine that with the information we collect through our Services. For instance:We use third-party services that may be co-branded as Blockchain but will do so with clear notice. Any third-party services may collect information as determined by their own privacy policies.We also use "cookies" from time to time to help personalize your
online experience with us. A cookie is a small text file that is
stored on your computer to help us make your visit to our site
more “user-friendly.” Please see our Cookies Policy for more
details about the cookies we use. Cookies provide us with
information about your use of the site that can help us improve
the site and your experience with it. We will process Personal
Data collected through cookies in accordance with this Privacy
Policy. If you have set your browser to alert you before accepting
cookies, you should receive an alert message with each cookie. You
you should be aware that our site, like most other popular sites,
may not work well with cookies disabled.Banks or payment processors that you use to transfer fiat currency may provide us with basic Personal Data, such as your name and address, as well as, your bank account information.Advertising or analytics providers may provide us with anonymized information about you, including but not limited to, how you found our website.
3. Use of Personal DataWe will use your information to:
- Understand and strive to meet your needs and preferences in using our Services;
- Develop new and enhance existing service and product offerings;
- Manage and develop our business and operations;
- Carry out any actions for which we have received your consent;
- Prevent and investigate fraudulent or other criminal activity;
- To address service requests and resolve user questions; and
- Meet legal and regulatory requirements.
- Companies within the Blockchain corporate family located in the United States and the United Kingdom, in order to provide the Services to you.
- Cloud service providers to store certain personal data and for disaster recovery services, as well as, for the performance of any contract we enter into with you.
5. Security of Your Personal DataWe protect Personal Data with appropriate physical, technological and organizational safeguards and security measures. Your Personal Data comes to us via the internet which chooses its own routes and means, whereby information is conveyed from location to location. We audit our procedures and security measures regularly to ensure they are being properly administered and remain effective and appropriate. Every member of Blockchain is committed to our privacy policies and procedures to safeguard Personal Data. Our site has security measures in place to protect against the loss, misuse and unauthorized alteration of the information under our control. More specifically, our server uses TLS (Transport Layer Security) security protection by encrypting your Personal Data to prevent individuals from accessing such Personal Data as it travels over the internet.
6. Retention of Your Personal DataThe length of time we retain Personal Data outside our back-up system varies depending on the purpose for which it was collected and used, as follows:
- Data you provide to us when subscribing for our Services: while user remains active, stored in the UK.Country location data: while user remains active, stored in the UK.Data on your preferences: while user remains active, stored in the UK.IP address login: until subsequent login from a new IP, stored in the UK.
- A copy of the records we used in order to comply with our client due diligence obligations;
- Supporting evidence and records of transactions with you and your relationship with us.
7. Storage of Personal DataBlockchain stores your Personal Data at secure locations in the EU. Blockchain ensures that appropriate security standards are in place regarding the safeguarding, confidentiality, and security of Data.The information that we collect from you will be transferred to, and stored in, destinations outside of your country and the European Economic Area ("EEA") as described below:We may transfer your Personal Data outside the EEA and the UK to other company subsidiaries, service providers and business partners (i.e., Data Processors) who are engaged on our behalf. To the extent that we transfer your Personal Data outside of the EEA and UK, we will ensure that the transfer is lawful and that Data Processors in third countries are obliged to comply with the GDPR and the UK Data Protection Act 2018. If transfers of Personal Data are processed in the US, we may in some cases rely on applicable standard contractual clauses.
8. Your RightsThe rights that are available to you in relation to the Personal Data we hold about you are outlined below.Information AccessIf you ask us, we will confirm whether we are processing your Personal Data and, if so, what information we process and, if requested, provide you with a copy of that information within 30 days from the date of your request.RectificationIt is important to us that your Personal Data is up-to-date. We will take all reasonable steps to make sure that your Personal Data remains accurate, complete and up-to-date. If the Personal Data we hold about you is inaccurate or incomplete, you are entitled to have it rectified. If we have disclosed your Personal Data to others, we will let them know about the rectification where possible. If you ask us, if possible and lawful to do so, we will also inform you with whom we have shared your Personal Data so that you can contact them directly.You may inform us at any time that your personal details have changed by emailing us at [email protected] and we will change your Personal Data in accordance with your instructions. To proceed with such requests, in some cases we may need supporting documents from you as proof that we are required to keep for regulatory or other legal purposes.ErasureYou can ask us to delete or remove your Personal Data in certain circumstances such as if we no longer need it, provided that we have no legal or regulatory obligation to retain that data. Such requests will be subject to any agreements that you have entered into with us, and to any retention limits, we are required to comply with in accordance with applicable laws and regulations. If we have disclosed your Personal Data to others, we will let them know about the erasure request where possible. If you ask us, if possible and lawful to do so, we will also inform you with whom we have shared your Personal Data so that you can contact them directly.Processing restrictionsYou can ask us to block or suppress the processing of your Personal Data in certain circumstances, such as, if you contest the accuracy of that Personal Data or object to us processing it. It will not stop us from storing your Personal Data. We will inform you before we decide not to agree with any requested restriction. If we have disclosed your Personal Data to others, we will let them know about the restriction of processing where possible. If you ask us, if possible and lawful to do so, we will also inform you with whom we have shared your Personal Data so that you can contact them directly.Data portabilityIn certain circumstances, you might have the right to obtain Personal Data you have provided us with (in a structured, commonly used and machine-readable format) and to re-use it elsewhere or ask us to transfer this to a third party of your choice.Objection
- You can ask us to stop processing your Personal Data, and we will do so if we are:
- Relying on our own or someone else’s legitimate interests to process your Personal Data, except if we can demonstrate compelling legal grounds for the processing;
- Processing your Personal Data for direct marketing; or
- Processing your Personal Data for research, unless we reasonably believe such processing is necessary or prudent for the performance of a task carried out in the public interest (such as by a regulatory or enforcement agency).
legalBlockchain Luxembourg S.A.Law EnforcementLast Updated: July 30, 2019
Since its inception, Blockchain has worked closely with law enforcement to support investigation, interdiction and prevention of financial crime. This guide explains how Blockchain products and services work, its legal entities, as well as how to most effectively make requests for information.Users of Blockchain’s self-custodied wallet face Blockchain Luxembourg S.A., a Luxembourg company whose primary business is the publication of open source downloadable wallet software. Users of Blockchain’s The PIT. Exchange, institutional custody, and over-the-counter trading services face Blockchain Access UK LTD, a UK company whose primary business is the custody and exchange of virtual currencies. Users of Swap face both entities.
Blockchain Luxembourg S.A. and the Self-custodied WalletUsers of the self-custodied software wallet do not make transaction requests to Blockchain Luxembourg. Instead, they transact themselves, directly with the appropriate virtual currency network.Unlike virtual currency exchanges, Blockchain Luxembourg does not act as a financial intermediary or a custodian. Blockchain Luxembourg is not a custodial entity and never accepts, holds or transmits its users’ virtual currency. Blockchain Luxembourg users can store and spend the same virtual currencies, in as many other industry-standard software wallets as they like at the same time as they are stored using a Blockchain wallet. Thus, it is helpful to think of the self-custodied wallet software not as a vault or bank account, but as user interface software for interacting directly with virtual currency networks.Blockchain Luxembourg cannot: spend virtual currency on a user’s behalf (or against the user’s wishes); freeze or forfeit virtual currency on law enforcement’s behalf; or know the contents of wallets.
- Generally speaking, Blockchain Luxembourg does not know its self-custodied wallet users’:
- Wallet balances
- Transaction history
- Explorer pages visited
- Legal names
- Mailing addresses
- Social security or national ID numbers
Blockchain Access UK and Financial ServicesCustomers of Blockchain Access make transaction requests to Blockchain Access for services like Swap and over-the-counter trading. For these products, Users purchase from and sell to Blockchain Access virtual currency on a principal basis. Like the self-custodied wallet provided by Blockchain Luxembourg, these services are noncustodial: Via these services, Blockchain Access never takes custody of virtual currency or government currency owned by its customers. Blockchain does, however, act as a financial counterparty inasmuch as it buys and sells from its customers.Blockchain Access also operates The PIT Exchange, a custodial exchange featuring a matching engine. This is a custodial product. Users of The PIT Exchange send virtual currency and government currency to addresses and bank accounts controlled by Blockchain Access, which holds that currency until it is withdrawn.Blockchain Access is a registered Money Services Business in the United States. As such, it collects and records customer information consistent with the risk-based approach required by, e.g., the United States Bank Secrecy Act.
Frequently Asked QuestionsDoes Blockchain respond to law enforcement information requests?Yes. Blockchain will respond to valid law enforcement agency information requests. See below for instructions. Note that the most helpful piece of information you can provide is a wallet identifier (e.g. 2td3t671-c54d-ds32-456t-65ftya3b24dd) or PIT Exchange account details. Other data points, like a bitcoin address (e.g. 14eK8q8GXubF2Y9yegRyfpkVm63AsFcefb) or a transaction number (e.g. c1a3cec06316fb13bd0198afc8b15e6edc5123fc5d15383446cc9f3b43ca0734) are significantly less likely to return helpful information.I can see, using Blockchain’s Block Explorer, that a transaction took place on the Bitcoin (or some other) blockchain. Does this mean that Blockchain’s products or services were responsible for the transaction?No. Our Block Explorer displays information from public network ledgers. Blockchain publishes all its transactions on these public ledgers, but it is only one of thousands of other software products and services doing so.I have a bitcoin address or transaction hash. Can Blockchain correlate this information with any personally-identifying user information?If the user simply downloaded and used Blockchain’s self-custodied wallet, no. However, if the address or hash was used in a Swap or The PIT Exchange transaction, then Blockchain Access can correlate it to the user’s profile. Swap transactions are noncustodial. Thus a customer’s executing a Swap transaction does not link the customer in Blockchain’s records to other transactions made in the self-custodied wallet.I have the name, address, telephone number, or other personally-identifying information of an individual. Can Blockchain correlate this information with other personally identifying information?As in the answer above: If the individual is only a self-custodied wallet user, Blockchain Luxembourg is unlikely to have such information. If the individual is a customer of Swap or The PIT Exchange, Blockchain Access can correlate the information with a user profile.I have the private key or backup phrase associated with a bitcoin address. What information can Blockchain correlate to these data points?None. Blockchain does not know private keys or backup phrases associated with any user wallets.I have a wallet identifier. Can blockchain freeze or deliver virtual currency from that wallet?No, Blockchain cannot access user’s wallets. Blockchain can, however, deliver certain industry-standard log information associated with the wallet including creation date, login time, device ID, operating system, associated email address or telephone numbers (if used for 2-factor ID), together with any encrypted wallet file backed up using Blockchain’s servers.
If you seek information from Blockchain Luxembourg:United Kingdom: Send either a valid order of an English court or fully-executed Data Protection Act request to [email protected], together with a copy of your agency-issued identification. Blockchain will confirm the authenticity of your request and respond via electronic mail.Rest of World: Blockchain will respond to the valid order of a Luxembourg court. A Mutual Legal Assistance Treaty request or letters rogatory may be required.
If you seek information from Blockchain Access:United States: Send to [email protected](i) a valid subpoena issued in connection with an official criminal investigation for the disclosure of basic subscriber records (defined in 18 U.S.C. § 2703(c)(2)); (ii) a valid court order; or (iii) a search warrant issued under the procedures described in the Federal Rules of Criminal Procedure or equivalent state warrant procedures upon a showing of probable cause for the disclosure, if any.United Kingdom: Send either a valid order of an English court or fully-executed Data Protection Act request to [email protected], together with a copy of your agency-issued identification. Blockchain will confirm the authenticity of your request and respond via electronic mail.Rest of World: Blockchain will respond to the valid order of a Luxembourg court. A Mutual Legal Assistance Treaty request or letters rogatory may be required.
If your request involves imminent risk of death or serious bodily harm:If you are a law enforcement agent requesting information from Blockchain that is likely to prevent death or serious bodily harm, you may contact us on an expedited basis. Together with the appropriate documents listed above, send an email to [email protected] with "IMMINENT RISK" in the title. In the body of the email, include a brief attestation describing the imminent risk, and Blockchain will endeavor to respond on an expedited basis.
legalBlockchain Luxembourg S.A.CookiesLast Updated: July 30, 2019
1. What is a cookie?Cookies are text files containing small amounts of information which are downloaded to your computer or mobile device when you visit a certain webpage. Cookies are then sent back to the originating webpage on each subsequent visit, or to another webpage that recognises that cookie. Cookies are widely used in order to make the Websites work, or to work more efficiently, as well as to provide information to the owners of the Website.Cookies do lots of different jobs, like letting you navigate between pages efficiently, remembering your preferences, and generally improving the user experience. Cookies may tell us, for example, whether you have visited the Websites before or whether you are a new visitor. They can also help to ensure that adverts you see online are more relevant to you and your interests.There are two broad categories of cookies:
- First party cookies, served directly by us to your computer or mobile device.
- Third party cookies, which are served by a third party on our behalf. We use third party cookies for [functionality, performance / analytics, advertising and social media purposes].
- track traffic flow and patterns of travel in connection with the Websites;
- understand the total number of visitors to our Website on an ongoing basis and the types of internet browsers (e.g. Firefox, Chrome or Internet Explorer) and operating systems (e.g. Windows or Mac OS) used by our visitors;
- monitor the performance of the Websites and to continually improve them;
- customise and enhance your online experience; and
- enable Blockchain and third-party to advertise both on and off the Websites.
3. What types of cookies do we use?The types of cookies used by us and our partners in connection with the Websites can be classified into one of five categories, namely 'essential Websites cookies', 'functionality cookies', 'analytics and performance cookies', 'advertising cookies', and ' social media cookies'. We've set out some further information about each category, and the purposes of the cookies we and third parties set in the following table.
|Type of cookie||What it does||How to block|
|Cookies necessary for essential Websites purposes||These cookies are essential to provide you with the Websites and any services available through the Websites and to use some of their features, such as access to secure areas. Without these cookies, services you have asked for, like transactional pages and secure login accounts, would not be possible.||Please see the instructions set out in 'How to control or delete cookies' below.|
|Functionality Cookies||Functionality cookies record information about choices you've
made and allow us to tailor the Websites to you. These cookies
mean that when you continue to use or come back to the Websites,
we can provide you with our services as you have asked for them
to be provided. For example, these cookies allow us to:||Please see the instructions set out in 'How to control or delete cookies' below.|
|Performance / Analytics Cookies||We use performance/analytics cookies to analyze how the Websites are accessed, used, or is performing in order to provide you with a better user experience and to maintain, operate and continually improve the Websites. For example, these cookies allow us to:||Please also see the instructions set out in 'How to control or delete cookies' below.|
|Advertising and Tracking Cookies||As you use our Websites, you will notice that they feature advertising. We allow third party companies, including advertising companies, to place cookies on our Websites. These cookies enable such companies to track your activity across various sites where they display ads and record your activities so they can show ads that they consider relevant to you as you browse the Internet. These cookies are anonymous -- they store information about the content you are browsing, but not about who you are.Cookies also allow us and third parties to know whether you've seen an ad or a type of ad, and how long it has been since you've last seen it. This information is used for frequency capping purposes, to help tailor the ads you see, and to measure the effectiveness of ads.||All the ad companies or networks that we work with have their own privacy policies and offer a mechanism for users to opt out tracking and behavioral targeting available through the ad itself or through the opt out mechanisms listed in the 'How to control or delete cookies' section below.|
|Social Media Cookies||On some pages of our Websites, third parties that provide applications through our Websites may set their own anonymous cookies in order to track the success of their applications or customize applications for you. For example, when you share an article using a social media sharing button on our Websites (e.g., Facebook, Twitter, or Google Plus), the social network that has created the button will record that you have done this. Because of how cookies work, we cannot access these cookies, nor can the third parties access the data in cookies used by us. Some pages of our Websites may also contain embedded content, such as video content from YouTube, and these sites may set their own cookies.||Please see the instructions set out in 'How to control or delete cookies' below.|
- Cookie settings in Internet Explorer
- Cookie settings in Firefox
- Cookie settings in Chrome
- Cookie settings in Safari web and iOS.
- Your Online Choices (http://www.youronlinechoices.com/uk/)
- Network Advertising Initiative (http://www.networkadvertising.org/)
- Digital Advertising Alliance (http://www.aboutads.info/consumers)
6. Need More Information?If you would like to find out more about cookies and their use on the Internet, you may find the following links useful:
7. Cookies that have been set in the pastIf you have disabled one or more Cookies, we may still use information collected from cookies prior to your disabled preference being set, however, we will stop using the disabled cookie to collect any further information.
8. Contact usIf you have any questions or comments about this cookies policy, or privacy matters generally, please contact us via email at [email protected] or the address provided below:Blockchain Luxembourg S.A.,
1, rue Philippe II
1, rue Philippe II