Terms and Conditions Governing AML(Anti Money Laundering) and KYC(Know Your Client)

WWW.CBX.ONE (“CBX PLATFORM”) IS AN ONLINE INTERMEDIARY PLATFORM, THAT PROVIDES ONLINE DIGITAL ASSET TRADING FOR PRODUCTS COMMONLY KNOWN AS CRYPTOGRAPHIC TOKENS, DIGITAL TOKENS OR CRYPTOGRAPHIC CURRENCY (“DIGITAL ASSETS”).

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE CREATING AND ACCOUNT OR TRADING ON THE CBX PLATFORM.

WHEN YOU CREATE AN ACCOUNT OR EXCHANGE DIGITAL ASSETS ON THE CBX PLATFORM YOU WILL BE SUBJECT TO THE TERMS DETAILED IN THESE TERMS AND CONDITIONS.

IF YOU DO NOT WISH TO BE BOUND BY THESE TERMS AND CONDITIONS, PLEASE DO NOT CREATE AN ACCOUNT OR EXCHANGE ANY DIGITAL ASSETS ON THE CBX PLATFORM.

WE HIGHLY RECOMMEND THAT YOU PRINT A COPY OF THIS FOR FUTURE REFERENCE. HOWEVER, KINDLY NOTE THAT WE MAY UPDATE OR CHANGE THESE TERMS AND CONDITIONS AT OUR DISCRETION SO WE REQUEST YOU TO READ THIS PAGE BEFORE CREATING AN ACCOUNT OR EXCHANGING DIGITAL ASSETS ON THE CBX PLATFORM.

1. INTRODUCTION

1.1 For the purposes of these terms and conditions, any registered or non-registered user on the CBX Platform shall be referred to as “you”. Therefore, the terms in this document shall apply to you even if you are a registered or non-registered user on the CBX Platform.

1.2 CBX (hereinafter referred to as "we" or "us"), comply with and place great importance on following domestic and international laws relating to anti-money laundering (hereinafter referred to as “AML”). We have a zero tolerance policy for money laundering activities and these terms and conditions will contain information relating to measures taken by us to prevent such activities.

1.3 In order to ensure that we comply with all AML requirements, we ensure that high standards and processes are followed in our “Know Your Client” process in which we gather information about you (hereinafter referred to as “KYC”). We strive to provide you with the best service possible through the CBX Platform and in order for us to do so it is important for us that you read and understand your responsibilities in respect of AML and KYC as detailed in these terms and conditions. If you have any questions or need any clarification please feel free to write to us.

1.4 To exchange any Digital Assets on the CBX Platform (hereinafter referred to as a “Trade”), all payments need to be made through our “over the counter” third party service provider (hereinafter referred to as the “OTC Facilitator”). We have clearly detailed below our responsibilities and your responsibilities towards us and the OTC Facilitator. Please take the time to read these terms and conditions and understand them carefully before proceeding to make any money transfer through the OTC Facilitator.

1.5 The objectives pursued by these terms and conditions are as follows:

(a) To prevent criminal elements from using the CBX Platform for money laundering activities;

(b) Promote a “Know Your Client” policy as a cornerstone principle for the CBX Platform business practice; and

(c) Conduct self-assessments of compliance with AML policy and procedures.

1.6 The terms detailed in these terms and conditions are mandatory for all users of the CBX Platform.

2. YOUR OBLIGATIONS RELATED TO ANTI MONEY LAUNDERING (AML)

2.1 You should do everything in your power to ensure that you are not involved in money laundering and that you comply with all regional, national and international laws, rules, regulations, and standards including those imposed by any governmental or regulatory authority and all applicable industry standards and standards determined by any self-regulatory body which apply from time to time and are applicable to anti-money laundering and terrorism (“Applicable Law”).

2.2 You acknowledge that we may require further information from you from time to time to ensure that you are in compliance with all AML laws. You undertake to provide us with all additional information and assistance that may be reasonably required by us to comply with all Applicable Law.

2.3 You warrant that you are not aware and have no reason to suspect that:

(a) The money used to pay for any Digital Asset on the CBX Platform through the OTC Facilitator have been or will be derived from or related to any money laundering, terrorist financing or other illegal activities whether prohibited by domestic law, international law or convention or by agreement;

(b) The proceeds of your sale of any Digital Asset on the CBX Platform will be used to finance any illegal activities.

2.4 If for any reason we reasonably believe or suspect that you are involved in any money laundering activities or other illegal activities we shall be obligated to report you to the relevant law enforcement agency. You hereby consent that we are permitted to share all information given by you to us to the relevant law enforcement agency.

2.5 You may be subject to further terms and conditions relating to compliance with AML laws when dealing with the OTC Facilitator. You confirm that you will comply and co-operate with the OTC Facilitator at all times and provide accurate and valid information to the OTC Facilitator.

2.6 If for any reason we suspect that you are in breach of this section, we reserve the right without notice to immediately block your account and suspend your use of the CBX Platform until such time as we carry out an investigation. You confirm that you will not be entitled to claim, demand, lawsuit, action, proceeding, investigation, liability, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees (“Losses”) against us for such suspension.

2.7 You authorize us to monitor and inspect your account on the CBX Platform to ensure that you are in compliance with these terms and conditions.

2.8 We further wish to notify you that the OTC Facilitator is a third party service provider and it shall be responsible for all its actions or omissions. We hereby expressly exclude all liability and responsibility for the actions and omissions committed by the OTC Facilitator. Your only recourse shall be against the OTC Facilitator for its actions or omissions.

3. YOUR OBLIGATIONS RELATED TO OUR KNOW YOUR CLIENT (KYC) PROCESS

3.1 For us to comply with AML laws, we have adopted high standards in our KYC processes and it is critical that you comply with these processes and provide us with clear, valid and accurate documentation or information.

3.2 We will only use the information provided by you as required to fulfill our services to you and to complete our KYC procedures. However, we reserve the right to disclose your personal and sensitive information in the event we are required to by law or as required to under these terms and conditions.

3.3 We require the following documentation from you when registering an account on the CBX Platform and when completing a Trade on the CBX Platform through an OTC Facilitator. All documentation should be sent by email and the email “subject line” should be as follows: KYC + [Name] + [Date], for example:

KYC Peter Thompson 2019-08-10

3.4 We require the following documentation from you, please attach copies to the email:

(a) valid photo identification with visual evidence (hold the ID card next to your face and take a picture and send us this image);

(b) mobile phone number;
(c) original identity card copy (copy of both the front and rear);

(d) proof of address(copy of bank statement, temporary residence permit, utility bill, showing address);

(e) bank account number and bank address (image of the bank card or statement);

(f) copies of bank statements detailing transaction details for previous 3 months from the date of the email; and

(g) A video recording of you holding the front of your ID card. In the video you must state the following:

“My name is [say your name]. I [say your name] trade with digital assets such as [state the cryptocurrency you are trading with] and other cryptocurrencies on the CBX Platform. I promise that the source of funds used for all trades made on the CBX Platform comply with the AML and KYC Policy and all other terms and conditions imposed by CBX. I further warrant that the cryptocurrency or fiat purchased/sold by me has not and is not being used for any illegal purposes. I take full responsibility for my own actions and will not hold CBX liable for any losses or claims incurred as a result of the actions. I further wish to state that I fully understand the consequences of this statement being made by me”.

3.5 We reserve the right to request for additional documentation that may not be specified above as we deem appropriate from time to time.

3.6 You hereby further warrant that: (a) you are 18 years old or older;

(b) all documentation and information provided by you to us or the OTC Facilitator is complete and true;

(c) you have the mental capacity and authority to complete a Trade and will do so in good faith and at free will;

(d) you have understood these terms and conditions in particular the importance of complying with the AML laws and KYC processes prior to completing a Trade;

(e) you will co-operate with us and the OTC Facilitator at all times;

(f) you will not misuse your account on the CBX Platform; and

(g) you will comply with all obligations detailed in these terms and conditions.

3.7 If you do not comply with the above requirements we reserve the right to reject the registration of your account on the CBX Platform and reverse or reject a Trade.

4. LIABILITY AND INDEMNITY

4.1 We hereby exclude all liability to any third party, you and the OTC Facilitator in respect of any Losses that arise in connection with:

(a) any negligent act or omission of the OTC Facilitator;
(b) any promises and undertaking given by the OTC Facilitator to you; (c) any negligent act or omission committed by you;
(d) any incorrect information provided by you;
(e) any illegal act committed by you using the CBX Platform; and

(f) any breach of these terms and conditions by you or the OTC Facilitator.

4.2 You shall be liable for all Losses arising from any breach of these terms and conditions by you, breach of Applicable Laws, any negligence or wilful default or any misrepresentation by you to us or the OTC Facilitator;

4.3 You agree to indemnify us and keep us indemnified against all Losses arising from any breach of these terms and conditions by you, negligence or wilful default or any misrepresentation by you to us or the OTC Facilitator.

5. SEVERABILITY

Every provision of these terms and conditions is severable. If any provision of these terms and conditions is not enforceable, the remaining provisions remain valid and enforceable. If a court or an arbitration panel decides that any provision is illegal or invalid, the illegality or invalidity of that provision will not affect the validity of any other provisions.

6. GOVERNING LAW

These terms and conditions will be governed by and construed in accordance with the laws of England and Wales. The courts of England and Wales shall have exclusive jurisdiction to settle any dispute arising out of or in connection with these terms and conditions.

7. CONTACT US

If you have any questions related to these terms and conditions, please feel free to write to us at: info@cbx.one.