Terms and Conditions for Users

Effective Date: 12.12.2024

By accessing or using the services provided through the platform of a BlockDev Partner (hereinafter referred to as the “Partner Platform”), you ("User," "You," or "Client") agree to be bound by these Terms and Conditions (“T&Cs”). These T&Cs constitute a legal agreement between you and BlockDev PLC ("BlockDev," "We," "Us"), governing your use of the services facilitated by BlockDev, which include but are not limited to, fiat-to-crypto, crypto-to-fiat, crypto-to-crypto transactions, and payment gateway services through open banking systems. By using the Partner Platform to access these services, you acknowledge and agree to comply with all of the provisions outlined in these T&Cs.

Please read these T&Cs carefully, as they contain important information regarding your rights and obligations, as well as limitations and exclusions of liability that apply to you when using the services. If you do not agree with these T&Cs, you must immediately cease to use or access any services provided by BlockDev through the Partner Platform.

1. General Information

1.1 BlockDev's Role
BlockDev is a technology and service provider that offers solutions such as cryptocurrency transaction processing, fiat-to-crypto, crypto-to-fiat, crypto-to-crypto exchanges, and payment gateway services to Partner Platforms. BlockDev’s role is limited to facilitating the secure processing of transactions and ensuring compliance with applicable regulations, including Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and data protection laws (including GDPR). However, BlockDev does not engage in the direct provision of services to the User. All interactions with BlockDev’s services are mediated through the Partner Platform, which is responsible for the overall user experience and service delivery.

1.2 Services Provided
The services offered by BlockDev through the Partner Platform may include, but are not limited to:

Fiat-to-Crypto Transactions: Enabling Users to purchase cryptocurrencies using fiat currencies.
Crypto-to-Fiat Transactions: Allowing Users to sell cryptocurrencies and receive fiat currency in exchange.
Crypto-to-Crypto Transactions: Facilitating the exchange of one cryptocurrency for another.
Payment Gateway Services: Securely transmitting payment instructions between Users and Partner Platforms through an open banking framework, allowing for seamless, real-time payments without BlockDev directly holding or managing the funds.

2. User Eligibility and Account Access

2.1 Eligibility Criteria

2.1 Eligibility Requirements
To access and use the services provided through the Partner Platform, you must meet the following eligibility requirements:

You must be a legal adult, at least 18 years of age, or the legal age of majority in your jurisdiction.
You must be a resident of a jurisdiction where the use of cryptocurrency transactions and related services is permitted by applicable laws.
You must not be a resident or national of any Restricted Jurisdictions, as described below.

2.2 Restricted Jurisdictions
Access to the services is prohibited for individuals or entities located in, or otherwise connected with, countries or regions subject to sanctions or embargoes imposed by relevant regulatory bodies such as the Office of Foreign Assets Control (OFAC), the European Union, or the Financial Action Task Force (FATF). These jurisdictions include, but are not limited to, countries that are subject to comprehensive sanctions or restrictions on cryptocurrency and financial transactions.

BlockDev reserves the right to refuse service to Users from these jurisdictions. By using the services, you explicitly confirm that you are not located in, nor associated with, any such Restricted Jurisdictions. If BlockDev determines that you are a resident of, or otherwise connected with, a Restricted Jurisdiction, your access to the services may be immediately revoked, and your account may be suspended or terminated without prior notice.

2.3 Reverse Solicitation for Non-EU Users

If you are not a citizen or resident of the European Union (EU), you acknowledge and agree that your use of the services provided by BlockDev is based on the principle of reverse solicitation. This means that you are choosing to access and use these services entirely on your own initiative, without any solicitation, advertisement, or marketing from BlockDev or its Partners directed at you. By using the services, you affirm that you are fully aware of the legal and regulatory implications of accessing cryptocurrency and financial services and that you are doing so voluntarily and at your own risk.

2.4 Account Creation

In order to use BlockDev’s services via the Partner Platform, you may be required to create an account with the Partner Platform. The account creation process may involve submitting personal information, including identity verification, as part of the Know-Your-Customer (KYC) requirements. By creating an account, you agree to provide accurate, complete, and truthful information. You are also responsible for maintaining the accuracy of the information on your account and promptly updating it whenever necessary.

You are solely responsible for safeguarding your login credentials and ensuring the security of your account. This includes keeping your username, password, and any other authentication information confidential. You are fully responsible for any activity that occurs under your account, including transactions initiated by third parties, whether or not authorized, resulting from the failure to protect your login credentials.

2.4 Account Responsibility
BlockDev is not responsible for any unauthorized access to your account, any transactions initiated due to the mishandling or negligence in protecting your login credentials, or any actions stemming from wrongful or fraudulent activity initiated from your account. You agree to immediately notify the Partner Platform if you become aware of any unauthorized access or suspicious activity in relation to your account.

2.5 Acknowledgment of Cryptocurrency Risks

By intending to use services that involve cryptocurrencies, you hereby declare that you are aware of and fully understand the inherent risks associated with cryptocurrency transactions. This includes, but is not limited to, the volatility of cryptocurrency values, potential loss of funds, the risk of cyberattacks, and the regulatory uncertainties surrounding cryptocurrencies. You acknowledge that BlockDev is not responsible for any financial losses, errors, or issues arising from these risks, and you agree to assume full responsibility for any consequences resulting from your use of cryptocurrency services.

3. Transaction Execution and Risks

3.1 Transaction Process

BlockDev facilitates the secure transfer of funds, executes the necessary conversions, and ensures the movement of assets between financial institutions, Partners, and other service providers if any involved in the transaction.

While BlockDev manages and executes the transactions, all transactions are subject to the terms and conditions set forth by the Partner Platform. You acknowledge that the Partner Platform is responsible for facilitating your access to BlockDev’s services, including handling user account management and supporting the user interface.

3.2 Transaction Fees
Transaction fees may apply to each service facilitated by BlockDev, including but not limited to the processing of crypto-to-fiat, fiat-to-crypto, and crypto-to-crypto transactions. These fees will be disclosed by the Partner Platform prior to the completion of any transaction. You agree to pay all applicable fees associated with your transactions.

3.3 Transaction Confirmation
BlockDev is not responsible for delays or errors in transaction processing due to factors outside its control, including network congestion, system failures, or delays in blockchain confirmations. BlockDev will make reasonable efforts to process transactions promptly but does not guarantee that any transaction will be completed within a specific time frame.

3.4 Risks
By using BlockDev’s services through the Partner Platform, you acknowledge that cryptocurrency transactions carry inherent risks, including price volatility and the risk of loss due to market fluctuations. BlockDev is not liable for any financial losses arising from these risks, nor is it responsible for the performance of any assets exchanged through the services.

3.5 Suspicious Activity and Compliance with Regulatory Obligations
BlockDev reserves the right to refuse, suspend, or delay any transaction if it detects suspicious activity or if there is any reason to believe that the transaction may involve money laundering (ML), terrorist financing (TF), or any other unlawful activities. This includes transactions originating from blockchain addresses that have been flagged as potentially involved in illicit activities or if the transaction appears to violate applicable laws or regulatory requirements.

If BlockDev identifies a "dirty" or suspicious blockchain address, it may take action to block, halt, or reverse the transaction. You acknowledge that BlockDev’s decision to refuse or delay a transaction under such circumstances is made at its sole discretion, and such actions are taken to comply with anti-money laundering (AML), counter-terrorist financing (CTF), and other relevant regulatory frameworks.

3.6 No Guarantee of Completion
BlockDev does not guarantee the successful or timely completion of any transaction, particularly when delays or errors arise due to circumstances outside of BlockDev’s control, such as technical issues with the blockchain, network congestion, or other third-party failures. BlockDev also reserves the right to refuse to provide services or execute any transactions if there are concerns related to compliance, security, or suspicious activity.

3.7 User Responsibility
You are solely responsible for ensuring that the information provided during the transaction process, including wallet addresses and transaction details, is accurate and in compliance with applicable laws. Any loss, delay, or error caused by incorrect or non-compliant information provided by you will not be the responsibility of BlockDev.

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4. Data Protection and Privacy

4.1 Collection and Use of Personal Data
By using the Partner Platform and BlockDev’s services, you consent to the collection, storage, and processing of your personal data by the Partner Platform and BlockDev, in accordance with the General Data Protection Regulation (GDPR). The Partner Platform and BlockDev will process your data to facilitate transactions, comply with legal obligations, and improve the services provided. You have the right to access, correct, or delete your personal data in accordance with the GDPR.

4.2 Data Security
BlockDev implements appropriate technical and organizational measures to secure your personal data and protect it from unauthorized access, disclosure, or loss. However, you acknowledge that no method of data transmission over the internet is completely secure, and BlockDev cannot guarantee the security of data transmitted through the Partner Platform. The Partner Platform is responsible for the integrity and security of its systems.

4.3 Data Breach Notification
In the event of a data breach, BlockDev will notify the Partner Platform, which will then notify you in accordance with the applicable data protection laws. BlockDev will take appropriate measures to mitigate any damage caused by the breach.

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5. Limitation of Liability

5.1 BlockDev’s Liability
BlockDev will not be held liable for any direct, indirect, incidental, consequential, or punitive damages arising from your use of the Partner Platform or BlockDev’s services, including but not limited to financial losses, lost data, or unauthorized transactions. BlockDev is not responsible for the actions or omissions of the Partner Platform, including delays, errors, or fraudulent activity conducted on the Platform.

5.2 No Warranty

BlockDev provides the Services on an "as is" and "as available" basis without any warranties of any kind, whether express, implied, or statutory, including but not limited to warranties of merchantability, fitness for a particular purpose, title, non-infringement, or security. BlockDev does not guarantee that the Services will be uninterrupted, error-free, or free from harmful components.

5.3 Indemnification
You acknowledge and agree that your use of BlockDev’s services , including any transactions initiated through our platform, is subject to the following terms:

Indemnification: To the fullest extent permitted by law, you agree to indemnify, defend, and hold harmless BlockDev, its affiliates, directors, officers, employees, agents, and representatives (collectively, the “Indemnified Parties”) from and against any and all claims, damages, losses, liabilities, penalties, fines, costs, and expenses (including reasonable attorneys’ fees and court costs) arising out of or related to:
a. Your use or misuse of the Services, including but not limited to initiating payments to a Partner or failing to complete such payments.
b. Any inaccuracies, errors, or omissions in the information or instructions you provide to BlockDev or its Partners.
c. Your violation of these Terms and Conditions or any applicable law, regulation, or rule (including, but not limited to, those related to anti-money laundering, fraud, or financial regulations).
d. Any claims brought by third parties, including Partners, resulting from your actions or omissions, whether intentional or unintentional, while using the Services.
e. Any loss or damage caused by unauthorized access to your account, negligence in securing your account credentials, or failure to notify BlockDev of any suspected unauthorized activity.
Assumption of Risk: You understand and acknowledge that transactions involving cryptocurrency are subject to significant risks, including but not limited to:
a. Market Volatility: Cryptocurrency prices are highly volatile and can fluctuate dramatically within short periods. You assume all risks associated with such price fluctuations and acknowledge that BlockDev has no responsibility or liability for changes in the value of any cryptocurrency before, during, or after your transaction.
b. Regulatory Risks: The regulatory landscape for cryptocurrencies is constantly evolving. You are solely responsible for understanding and complying with the laws applicable to your use of the Services in your jurisdiction.
c. Transaction Risks: Transactions facilitated through the Services are irreversible once confirmed. BlockDev is not liable for any losses arising from incorrect wallet addresses, payment details, or other errors in your transaction instructions.
d. Technology Risks: Transactions involving cryptocurrencies rely on blockchain technology, which may be subject to delays, errors, or security vulnerabilities. You acknowledge and accept the inherent risks associated with blockchain technology, including potential network congestion, smart contract bugs, or other technical issues.
Limitation of Liability:
a. To the maximum extent permitted by law, BlockDev and the Indemnified Parties shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenue, data, or goodwill, arising out of or in connection with your use of the Services, whether based in contract, tort (including negligence), strict liability, or otherwise, even if BlockDev has been advised of the possibility of such damages.
b. BlockDev’s total liability to you for any claims arising out of or related to the Services shall not exceed the total amount of fees paid by you to BlockDev in connection with the specific transaction(s) giving rise to such liability, or $100, whichever is lower.

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6. Suspension, Termination, and Account Deletion

6.1 Suspension and Termination of Access
BlockDev reserves the right to suspend or terminate your access to its services, via the Partner Platform, in the event of any violation of these T&Cs or any unlawful activity, including but not limited to fraud, non-compliance with applicable regulations, or misuse of the services. BlockDev also reserves the right to terminate access in the case of suspected money laundering, terrorist financing, or other illegal activities.

6.2 Termination by User
You may discontinue the use of the services at any time by ceasing all transactions and terminating your account with the Partner Platform. However, you will remain responsible for any outstanding obligations or fees incurred prior to such termination.

6.3 Effect of Termination
Upon termination of your access to BlockDev’s services, you must cease using all services and delete any confidential information related to BlockDev and the Partner Platform, as per the Partner Platform’s instructions.

7. Changes to These Terms and Conditions

7.1 Amendments

BlockDev reserves the right to amend or update these Terms and Conditions (T&Cs) at its sole discretion. Any changes will be communicated to the Partner via email, and the Partner Platform is responsible for informing you, as their client, of such changes. Unless otherwise specified, all amendments will take effect no earlier than thirty (30) days after such notification has been provided.

7.2 Right to Object

You have the right to object to any proposed amendments to these T&Cs within the thirty (30) day notice period. Such objections must be submitted to the Partner Platform without incurring any charges. If you do not object within this period and continue to use the services after the amendments take effect, you will be deemed to have accepted the revised T&Cs.

8. Governing Law and Dispute Resolution

8.1 Applicable Law

These Terms and Conditions (T&Cs) are governed by the laws of Bulgaria. Any disputes arising out of or in connection with these T&Cs shall be resolved in accordance with Bulgarian law. For the avoidance of doubt, as you are a client of the Partner Platform, any legal relationship between you and BlockDev is indirect and contingent on the services provided by the Partner Platform. Nonetheless, the courts of Bulgaria shall have exclusive jurisdiction over any disputes relating to these T&Cs or BlockDev’s services.

8.2 Dispute Resolution

In the event of a dispute, all parties shall endeavor to resolve the matter amicably. If such resolution proves unsuccessful, disputes relating to BlockDev’s services shall be resolved through the courts of Bulgaria. It is your responsibility to raise any disputes first with the Partner Platform, which acts as your direct point of contact.

9. Miscellaneous

9.1 Severability

If any provision of these T&Cs is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be deemed modified to the minimum extent necessary to make it valid and enforceable. If such modification is not possible, the provision shall be severed, and the remaining provisions of these T&Cs shall remain in full force and effect.

By using the Services, you expressly agree to these terms and acknowledge that BlockDev’s role is limited to facilitating payment transactions to its Partners as per your instructions. BlockDev is not a fiat custodian, broker, or financial advisor and does not assume any fiduciary obligations to you or any third parties. By using the services provided through the Partner Platform, you confirm that you have read, understood, and agree to these Terms and Conditions.