Please note that as of December 2 2019 00:00 GMT, these terms and conditions for use for websites and services revoke and replace all previous versions of these terms and conditions of use for websites and services.
'Account' means the account of a User with BitShares which is created or used when the User registers with CryptoBridge through https://wallet.crypto-bridge.org/ or the local client application.
'BitShares' means the blockchain-based decentralized crypto asset exchange BitShares.
'BCO' means BridgeCoin.
'CB App' means the CryptoBridge software app.
'Company' means Liquidblocks ApS, a company incorporated under the laws of Denmark, with a registered office at Gl. Kongevej 60, 1850 Frederiksberg, Denmark.
'Crypto Assets' means tokens and coins of all flavors, including payment tokens, utility tokens and security tokens.
'CB Wallet' means the wallet installed by the Company during the Deposit process, which is not subject to fees.
'CB Wallet Address' means the Gateway generated 42-digit address linked to the CB Wallet.
'Essential Secondary Obligations' means an obligation, the breach of which endangers the achievement of the contract's purpose, or the fulfilment of which is essential for the proper execution of the contract, and on the observance of which Users could reasonably rely.
'Fiat' means legal tender.
'Force Majeure' means but not limited to events of flood, earthquake, typhoon, epidemic or other natural calamity, war or armed conflict or the serious threat of the same (including but not limited to hostile attack, blockade, embargo, riot or insurrection), governmental order or regulation (including but not limited to prohibition or restriction of importation or exportation or the regulation or allocation of energy resources), labor disputes (including but not limited to strike, slowdown, lockout or sabotage), severe economic dislocation or the bankruptcy or insolvency of manufacturers or suppliers of the Gateway seriously affecting the activities of the Company directly or indirectly, or any other causes beyond the reasonable control of the Company.
'Forum' means the Discord Community for Gateway Users offered by the Company.
'Gateway' means the Company-operated gateway to BitShares.
'IOU' means "I Owe You" and is a token provided by the Company that is redeemable for a Crypto Asset.
'Services' means the Deposit, Withdrawal of Crypto Assets via the Gateway, use of the Discord Community and the Benefits Programs offered through the Websites and the App.
'User', 'You', 'Your' means users of the Websites and Services.
'Use Agreement' means the agreement for the use of the Websites that is concluded between you and the Company at first use of the Websites.
'User Identity Verification Process' means the documentation and verification process required by the Company in accordance with relevant European Union law, notably Directives 2018/843/EU and 2015/849/EU and as well as Directives 2009/138/EC and 2013/36/EU, and relevant Danish anti-money laundering and counter terrorist financing legislation.
'User Wallet Address' means a crypto wallet address owned by you exclusively that is under your sole and full control.
2.1 Thank you for choosing CryptoBridge and being a loyal User. Further information on our company Liquidblocks ApS is available in the Imprint (https://crypto-bridge.org/imprint).
2.3 As of December 2 2019 00:00 GMT, the Gateway and all Services offered by the Gateway will be phased-out. The Gateway and all Services offered by the Gateway will be discontinued after December 15 2019 23:59 GMT.
2.3.1 Users will not be able to register an account after December 1 2019 23:59 GMT.
2.3.4 Please be aware that the Websites will be taken down after December 15 2019 23:59 GMT.
2.3.5. After the Services of the Company have been suspended, all funds will be converted into Bitcoin (BTC) over a reasonable period. The Company may also choose to fulfill claims in DKK or EUR if conversion into BTC provides significant difficulties to the Company.
2.4 Every person is eligible to access the Websites. However, using any of the Services, functions, or features of the Websites is limited to persons of age 18 or above who have full legal capacity. Legal entities have to be represented by a natural person fulfilling these requirements.
3. No Financial Advice
The Company does not provide any investment advice or advice on trading techniques, models, algorithms, or any other schemes.
5. Website Use Agreement, User Sign-in
5.1 Please be aware that the Websites will be taken down after December 15 2019 23:59 GMT. Until then, the following conditions apply.
5.2 Visiting the Websites does not require user registration. On our Websites you may inform yourself about all the details of the CryptoBridge Gateway (the 'Gateway'), our mission and the Services offered. With the use of the Websites, an agreement for the use of the Websites is concluded between you and the Company ("the Use Agreement"). There is no entitlement to the conclusion of such Use Agreement.
5.3 Services are only open for registered Users. Users need to create an account with BitShares (the 'Account'). The Account may still be created via BitShares directly. However, account creation via our wallet apps (the 'CB App') will cease after December 1 2019, 23:59 GMT. The Gateway and the Services may be accessed with such Account until December 15 2019 23:59 GMT. The Gateway does not require an additional account. The Company only receives Users' BitShares username and IP address. The Company does not have access to data provided during registration at BitShares.
5.4 Both the use and the registration is free of charge for all Users. Any (internet) connection fees are not taken into account.
5.6 Signing-in is only permitted for natural persons or legal entities represented by a natural person. Minors may not sign in to use the Services. Sign-in of a legal entity may only be carried out by a natural person authorized to represent the company.
5.9 Users are liable for all activities in connection with their Account, unless it is proven out of their responsibility. If you become aware that an activity not initiated by you was carried out via your Account, you are obliged to inform the Company immediately via our support help desk. The Company suspends the affected Account from using the Services until the facts of the case are clarified. The Company is only liable for damages from the misuse of your Account that are proven to be due to a failure attributed to the Company.
5.10 The Use Agreement is concluded for an indefinite period. Termination is not necessary. The Use Agreement can however be terminated by you at any time via the support help-desk tool without notice and without giving reasons. Services already rendered by the Company, in particular deposits or withdrawals remain unaffected by a termination of the Use Agreement.
5.11 If you use the Websites, sign-in or register and/or take over a financial situation or provide support services, and this is neither your commercial nor your self-employed professional activity, the following provisions apply to you as a consumer:
No Consumer Revocation Right
5.11.1 Right of Revocation. By accepting the Services, you acknowledge that the Services are "Digital Service" ("Digitalt indhold" in Danish) and the requesting of the Services is conditioned upon you accepting that you forfeit your right of revocation. However, note that you can always terminate your agreement with the Company, cf. Section 5.9 above.
If we fail to expressly get your consent in regard to forfeiting your right of revocation, cf. section 5.1 just above, the following applies:
You can cancel the Use Agreement within 14 days without notice in writing (e.g. letter, fax, e-mail). Revocation period begins after receipt of this instruction in text form, but not before the conclusion of the Use Agreement. The timely dispatch of the revocation declaration satisfies the revocation period. The revocation is to be addressed to the Company's postal or e-mail address as listed in the Imprint (https://crypto-bridge.org/imprint).
5.11.2 Consequences of Revocation: Effective revocation obliges the Parties to return the services received and any benefits derived (e.g. interest) shall be surrendered. If you are unable to return or surrender the received services or benefits (e.g. benefits of use) to us, or if you are unable to return or surrender them in full or in part, or only in a defective state, you are obliged to pay us compensation for the value of such services or benefits. You may be required to fulfil the contractual payment obligations for the period up to the revocation nevertheless. Obligations to reimburse payments must be fulfilled within 30 days. That period begins for you with the dispatch of the declaration of revocation, for us with its receipt.
5.11.3 Additional Notes: Your right of revocation expires prematurely if, at your express request, the agreement is fulfilled completely by both Parties before you have exercised your right of revocation. In any case you all rights of revocation expire 1 year after entering into this agreement.
6. Deposit and Withdrawal Services
6.1 The Company operates a gateway (the 'Gateway') called CryptoBridge that functions as a technical service provider in the exchange of Crypto Assets built according to various technical standards on the blockchain-based decentralized crypto asset exchange BitShares ('BitShares') via IOUs.
6.2 The Gateway is not part of BitShares in any organizational or functional way. The Gateway does not allow for exclusive access to BitShares. Users may access BitShares via other gateways or if they already possess BitShares compatible Crypto Assets by downloading the BitShares wallet.
6.3 The Gateway does not accept Fiat currencies. None of the Services offered through the Websites includes payments in Fiat currencies, by neither the Company nor Users.
6.4 The validity of all Crypto Asset transfers is contingent upon the confirmation process on the blockchain. As such, withdrawals are pending during the confirmation process and only complete once confirmation on the blockchain is completed.
6.5 Personal wallet address for execution. To use withdrawal services you guarantee to use and provide the Gateway with the crypto wallet address owned by you exclusively and is under your sole and full control (the 'User Wallet Address').
6.6 The Company reserves the right to at any time and in their sole discretion discontinue the Services for certain listed Crypto Assets (i) in case the Company suspects a security risk, or (ii) Crypto Assets become inactive. The Company will announce the discontinuation of Services on their Twitter account and on the Forum. Following such announcement, depositing such Crypto Assets will seize immediately, but Users will have two weeks to withdraw such Crypto Assets. Requests for withdrawal will not be processed after such two-week period has lapsed. Losses due to disregard of such two-week period will not be reimbursed.
6.8.1 Users need to create an Account with CryptoBridge (https://wallet.crypto-bridge.org/) or BitShares to use the Company's Services. Users are liable for safe-keeping of their passwords. The loss of passwords results in the irretrievable loss of any token or coin (together 'Crypto Assets') in the Account.
6.8.2 Once a use request is submitted to the Gateway, the Company installs a wallet for the new User, which is not subject to fees (the 'CB Wallet'). The Gateway then generates an address (the 'CB Wallet Address') that is transmitted to the User as the address of the wallet into which to deposit their Crypto Assets. Liability for the validity of the CB Wallet Address lies with the Company.
6.8.3 Users should only initiate deposits of Crypto Assets to the CB Wallet Address when such CB Wallet Address active and compatible with the respective Crypto Asset and/or take into account any other notices in the CB Wallet relevant to the deposit. The Company is not liable for the loss of Crypto Assets due to the violation of such obligations or loss of Crypto Assets before arrival in the CB Wallet.
6.8.5 Except for maintenance work, Force Majeur or other disturbances, the wallet addresses are checked regularly. Once Crypto Assets are received with enough confirmations, the Users will be provided with the respective amount of IOUs, which are transferred into their BitShares Accounts.
6.8.6 The ratio between IOU and Crypto Asset is 1:1. The ratio remains stable and is not subject to exchange rate fluctuations.
6.8.8 Users will not be able to create an account after December 1 2019 23:59 GMT. All deposits will be closed after December 3 23:59 GMT. Losses to disregard of the closing of deposits will not be reimbursed.
Users who wish to initiate trades by using IOUs or BitShares-compatible crypto assets are to acknowledge that neither the Company (or any person or legal entity affiliated with the Company) nor its Gateway are involved in the trading process, have any control over it and may not influence it in any way. BitShares is solely responsible for the exchange process. The Company is not liable for any losses that Users may suffer due to exchange activity on for example BitShares or any other exchange of Crypto Assets.
6.10.1 Any User holding BRIDGE-IOUs, either the depositor or the counterparty of the IOU trade on BitShares, may ask to withdraw Crypto Assets in return for the respective number of BRIDGE-IOUs.
6.10.2 The Gateway first requests the User to provide their personal wallet address to which the Crypto Assets shall be transferred (the 'User Wallet Address').
6.10.3 The User sends the respective BRIDGE-IOUs to a wallet address provided by the Gateway as proof of claim to the Crypto Assets. The Company is not liable for loss of BRIDGE-IOUs before arrival in such wallet. The Gateway burns these BRIDGE-IOUs.
6.10.4 The Gateway transfers the Crypto Assets to the User Wallet Address. Users acknowledge that any delivery of Crypto Assets may not be instantaneous. The Company is not liable for loss of Crypto Assets due to the submission of an invalid User Wallet Address and forked blockchains. There will be no compensation for lost Crypto Assets.
6.10.5 Each BRIDGE-IOU represents a claim to transfer a certain kind of Crypto Asset in the form of an indeterminate obligation.
6.10.6 The ratio between IOU and Crypto Asset is 1:1. The ratio remains stable and is not subject to exchange rate fluctuations.
7.1 There are no additional fees for Users. Withdrawals at the Gateway do not incur any fees. The Company is not responsible for possible fees that incur on the BitShares exchange.
7.2 The Company reserves the right to charge fees for mining fees that incur from illegal use of the CB Wallet for mining activities.
7.3 Information about the respective fees are also publicly available in the CB Wallet.
8. Refund and Cancellation Policy for Deposits and Withdrawals
8.2 Users are entitled to refunds. Refunds may not be granted where the User is solely responsible for the cancellation or Crypto Assets are linked to criminal activity. The Company may deduct all fees and charges due from any refund.
8.3 In case the Company transfers to you any excess Crypto Assets that you are not entitled to, you agree to inform us and transfer back that excess amount without undue delay.
9. User Identity Verification Process
9.1 The Company seeks to protect itself from illicit money laundering and terrorist financing activities via the Gateway and the Services offered and supports prevention measures against money laundering and terrorist financing. As such, the Company adheres to the relevant European Union law, notably Directives 2018/843/EU and 2015/849/EU and as well as Directives 2009/138/EC and 2013/36/EU, and relevant Danish anti-money laundering and counter terrorist financing legislation.
9.2 All Users agree not to disguise or hide in any way their IP location and to disclose their precise and true location to the Company. All Users agree to voluntarily disclose changes in such location.
9.3 All Users are subject to a user identity verification process (the 'User Identity Verification Process').
9.4 Users agree to share personal information requested by the Company in the User Identity Verification Process. Information is used specifically to detect money laundering, terrorist financing, fraud and financial crime conducted through the Gateway and Services offered. Users agree to us keeping their information on record for the duration of their Account with the Company plus an additional five years.
9.5 Identity verification may include, but is not limited to name, place and date of birth, nationality, e-mail address, postal address and place of residency, type and number of government-issued identification document. In case the user is a legal entity, the User Identity Verification Process may include, but is not limited to company registration documentation and information on the ultimate beneficial owner, i.e. the natural person ultimately benefiting from the legal entity’s business activity.
9.6 In providing such information, you also confirm the correctness of such information. In case of reasonable doubt regarding the correctness of such information, the Company will request further information or proof. Should you fail to provide the latter, the Company retains the right to discontinue its Services to you.
9.7 Users acknowledge that they are under the obligation to timely update all information provided should there be changes.
10. Benefit Programs for BCO-Holders
With the discontinuation of the Gateway, the benefit programs for BCO-Holders, notably the staking program and the market maker program, will cease after December 1 2019 23:59 GMT.
11. Account Suspension, Prohibition of Use
11.1 If the Company finds, in their sole discretion, that your user activity is suspicious or does fulfill any of the below-prohibited uses or fulfills other reasons for suspension, the Company may suspend temporarily or indefinitely your access to the Gateway and all Services and Programs offered by the Company without prior notice. This includes blocking withdrawals on the Gateway. The same applies when such action is ordered by a competent court or other Danish authority.
11.2 Prohibited Uses: You may not:
11.2.1 Use the Company's Websites and Services to disguise the origin or nature of illicit proceeds of, to further any breach of applicable laws, or to transact or deal in any illicit Crypto Assets, funds, proceeds, Fiat currencies, property or other assets;
11.2.2 Use the Company's Websites and Services if your interaction with the Company exposes the Company to liability under, inter alia, anti-money laundering, terrorist financing, anti-corruption, economic sanctions laws as well as Danish criminal law and international criminal law;
11.2.3 Use the Company's Websites and Services to evade taxes under the laws of Denmark or any other jurisdictions applicable to our Websites and Services;
11.2.4 Use the Services with Crypto Assets that do not belong to you and/or which you have not obtained legally;
11.2.5 Take advantage of a technical glitch, malfunction, failure, delay, default, security breach;
11.2.6 Falsify an account, Crypto Assets, wallet addresses, notably to take over another identity;
11.2.7 Perform mining activities under your wallet address that continuously negatively affect the functioning of the Gateway.
11.3 Other reasons for suspension:
11.3.2 User provided false information;
11.3.3 User succeeded or attempted to use the Company's Services for such purpose or in such way as would cause damage to the Company, third parties or other Users or the Company determines such based on credible information, notably by law enforcement agencies;
11.3.4 User interferes with the Gateway operations in any way;
11.3.5 Company is requested to suspend access by public entity, notably, law enforcement authorities;
11.3.6 User dies, becomes incompetent, or goes bankrupt;
11.3.7 Company determines that continued business relationship with the User would be unsustainable.
11.4 The Company reserves the right to hold you liable for losses incurred at the Company or a third party due to non-compliance with the above-prohibited uses.
11.5 The Company reserves the right to inform relevant agencies of any criminal activity or payment fraud (including credit reference agencies in your jurisdiction).
11.6 The Company is not liable for any damages incurred at the User because of any action taken by the Company in accordance with this Section.
11.7 If, at the time of indefinite suspension, the User still has an open position with the Gateway, the User has three months to claim back Crypto Assets. All Crypto Assets not claimed back are non-refundable.
12. Discord Community
With the discontinuation of the Gateway, the Discord Community for the Gateway will cease to operate after December 1 2019 23:59 GMT.
13. Liability and Liability Limitations
13.1 The Company accepts liability for intent and gross negligence. The liability of the Company is limited to contract-typical damages foreseeable at conclusion of the contract in case of mildly negligent breach of a main obligation or a secondary obligation, the breach of which endangers the achievement of the contract's purpose, or the fulfilment of which is essential for the proper execution of the contract, and on the observance of which Users could reasonably rely ("Essential Secondary Obligation").
13.2 Towards other corporations, the Company is only liable for intent or gross negligence on our part, by our lawful representatives, executive employees or other vicarious agents, except in the case of breaches of material contractual obligations. In the event of a breach of material contractual obligations, the Company shall be liable for any culpable act of its lawful representatives, officers or other employees.
13.3 The Company is not liable for the mildly negligent violation of secondary obligations that are not Essential Secondary Obligations.
13.4 With the exception of tort claims, Users' claims for damages with limited liability shall become statute-barred one year after the beginning of the statutory limitation period. As far as the liability of the Company is excluded or limited, the statute of limitations also applies to the personal liability of its employees, other staff and vicarious agents.
13.5 The Company is not responsible for the contents of any linked site or any link contained in a linked site from its site to a third party website. The responsibility for contents on such third party sites on the Internet is exclusively subject to their respective operators. The contents and/or operators may also change after link setting, without the Company's knowledge or influence. The Company does not assume any obligation to check the contents of third party websites for their legal accuracy. By linking these sites, the Company merely provides access to these websites. The Company does not assume any responsibility for third-party websites' contents. The Company also does not adopt the contents of third-party websites as their own. Please let us know if you become aware of a possible infringement through a link set by us or through content published by Company members. Please use one of the contact possibilities given in the imprint (g href="https://crypto-bridge.org/imprint" target="_blank">https://crypto-bridge.org/imprint). As we are not in a position to gain knowledge of possible violations of the law committed by users of the Websites on third-party websites, we reject any liability and compensation of legal prosecution costs.
13.6 The Company takes all necessary and prudent precautions to safeguard Crypto Assets from hacking.
13.8 Force Majeure: The Company is not liable for any damages due to Force Majeure.
13.9 The Company takes all necessary and prudent efforts to provide Users with high-level Services, including applying the necessary diligence in retaining third-party services. The Company accepts no liability for interferences with the normal service level that are not under the control of the Company. It will inform Users on the Website or the Forum if the service level is interrupted for more than 24 hours.
14. Representations and Warranties of Users
The User warrants the following:
14.1 Not to use, store, reproduce, display, modify, sell, publish, transmit and distribute, or commercially exploit the Services without prior written permission of the Company.
14.2 To adhere to all rights to proprietary information (including, but not limited to, all intellectual property rights such as; patents, trade marks, service marks, copyrights, database rights, topography rights, industrial design, know-how, trade secrets, trade names, logos, designs, symbols, emblems, insignia, slogans, drawings, plans and other identifying materials, in all forms whether or not registered or capable of registration and any other rights relating to intellectual property in accordance with the applicable laws,) of the Company and subsisting in or relating to the Services.
14.3 Not to use the Services for any unlawful or unauthorized purpose.
14.4 That the User has the required skill and judgment to make use of the Services, and all time will exercise its best judgement in the use of the Services
14.5 That the User alone is to be made responsible for all statements made and acts or omissions that occur while the Users registration, identification name and/or passwords are being used.
14.6 The User accepts that it is the sole responsibility of the User to protect and secure your user name and password from unauthorized use and disclosure.
15. Law Enforcement Requests Policy
The Company receives information requests about its customers from law enforcement agencies worldwide. Law enforcement is generally interested in data regarding (i) Users' identities and (ii) information on Users' activities regarding the Company's Services. The Company requires that information requests follow the appropriate legal process, including production orders, search warrants, and subpoenas, but also requests for voluntary disclosure of data. The Company will review each order and request for voluntary disclosure to determine its legal validity and disclosure will only relate to data law enforcement is entitled to. The Company also reserves the right to make disclosures to authorities in order to protect itself, any associates, and Users. Please contact the Company at [email protected] for requests and inquiries.
16. Intellectual Property
16.1 The contents offered by the Company are protected by copyright. Their use is subject to applicable law. The Company Websites and contents may not be changed, copied, republished, transferred, processed or stored without the consent of the Company. The contents may only be used for private, non-commercial purposes under strict consideration of copyrights and ancillary copyrights.
16.2 The company owns the brand names relating to the Websites and any other trademarks used by the Company.
16.3 By using the Website and/or the Services you do not obtain any rights in the trademarks or Website content.
17. General Risks
17.1 Hacking: There is always a risk of hacking that even a high level of diligence cannot completely exclude. Hacking may affect the functioning of the Gateway, the stock of Crypto Assets and the timeliness of Services provided by the Gateway.
17.2 Technical Infrastructure: The Company retains external telecommunication and other infrastructure providers that are selected with great diligence based on state of the art technical capabilities. Malfunctions, failures and breakdowns of such external systems may affect the Services of the Gateway.
The Company has not audited the tax treatment of any of the services offered on their Websites for Users. Using any of the Company services may have tax consequences, in particular information obligations and taxation. It is the sole responsibility of the User to obtain the necessary qualified tax advice, to report, pay and remit the correct taxes, if applicable, to the appropriate tax authorities in the relevant jurisdictions.
19. Modification of Websites, Unavailability of Services, System Integrity
19.1 The Company may at any time change, suspend or delete any aspect of the Websites, including all current and future site features, databases and content, for any legal, business or technical reason. The Company may also restrict the use of certain features, services or access to the Websites or portions thereof without notice or liability of any kind.
19.2 Access to the Websites may be interrupted temporarily and/or unexpectedly due to technical problems on the part of the Company, the Company's service provider, other third parties or the Internet as a whole. The Company will take reasonable measures to remedy the interruption, if this is within the Company's control. However, the Company expressly makes you aware that no uninterrupted access to the site or its functions can be guaranteed. The Company cannot be held liable based on such Website interruptions, whether caused by the Company, the Company's service provider, other third parties or the Internet as a whole or force majeure. You understand that such events may cause delays in executing or processing listings, deposits or withdrawals and are aware that you have to take precautions accordingly.
19.3 You are obliged to set up your system and programs in connection with the use of Services on the Websites in such a way that neither the security, nor the integrity, nor the availability of the Company's systems are impaired. You may not block, overwrite or modify any foreign content or interfere in any other way with the Company's Services. The Company is entitled to set up necessary measures (e.g. access blocks) which are necessary to ensure the system integrity of the Company's or third party systems.
20.2 The Company reserves the right to change or extend services, especially content and structure of the Websites as well as the corresponding user interfaces.
20.4 The Company is entitled to transfer rights and obligations from this contractual relationship in whole or in part to third parties.
20.5 For all disputes arising from the contractual relationship between you and the Company, you agree that the laws of the Kingdom of Denmark shall apply exclusively to the exclusion of the United Nations Convention on Contracts for the International Sale of Goods.
20.6 Forum selection clause. Any suit, claim, or other action to enforce the terms of this agreement shall be brought exclusively in Copenhagen, Denmark.