Terms & Conditions
Luso Digital Assets Terms of Service
As of NOVEMBER 2023
PLEASE READ THESE TERMS OF SERVICE CAREFULLY.
BY CLICKING THE "CREATE ACCOUNT" BUTTON OR BY ACCESSING OR USING THE LUSO DIGITAL ASSETS’ SERVICES, YOU AGREE TO AND ARE LEGALLY BOUND BY THESE TERMS AND CONDITIONS AND ALL TERMS INCORPORATED BY REFERENCE.
These Terms and Conditions and any terms expressly incorporated herein (hereinafter the "Terms") apply to your access to and use of this Website provided by Luso Digital Assets, and the trading, direct sale, staking and other services provided by Luso Digital Assets as described in these Terms (collectively, our "Services").
These Terms and Conditions entered into between you (hereinafter referred to as the “customer”, “you” or “your”) and Luso Digital Assets (also referred to as “Luso”, “we” or “us”).
By accessing, downloading, using or clicking on “I agree” to accept any Luso Digital Assets’ Services, you agree that you have read, understood and accepted all of the terms and conditions stipulated in these Terms, as well as our Privacy Policy. In addition, when using some features of the Services, you may be subject to specific additional terms and conditions applicable to those features.
Eligibility
To be eligible to use any of the Services, you must be at least 18 (eighteen) years old and reside in a country in which the relevant Luso Digital Assets’ Services are accessible and available. Please note that not all Services are available in every country, namely countries or jurisdictions determined to sanctions, embargoes, other restrictive measures or countermeasures defined, namely, by the United Nations and the European Union – for further information please refer to the “General” Section below. Also, to be eligible to use some of the Services, you may be subject to an onboarding process and to an enhanced due diligence, which can result in a denial of the supply of our Services.
Services
Luso Digital Assets is a registered broker, by the Portuguese Central Bank, that trades digital assets (cryptocurrency) to the public throughout the internet. We aim to make the user experience as simple, clear and fast as possible, so that new, curious purchasers without great technical knowledge can enter this market.
We also aim to help and educate our clients in this area, so that they feel safe working with us, and take responsibility for their funds.
We want to be the bridge from movable assets to digital assets.
Digital Currency Services The following services (the "Digital Currency Services") may be provided to you by Luso Digital Assets:
(A) one or more hosted digital currency wallets (the "Digital Currency Wallets") enabling you to store, track and transfer digital currencies (collectively "Digital Currency" or “Digital Currencies”); and
(B) a Digital Currency exchange service enabling you to obtain prices for your purchases and sales of Digital Currencies, and (subject to certain restrictions) carry out any such purchases or sales on the Website (the “Digital Currency Exchange Service”).
IMPORTANT NOTE: Luso Digital Assets operates under the supervision of the Portuguese Central Bank, therefore we are obliged to monitor transactions carried out through us (including the source of funds), to ensure our compliance with AML/FT regulations.
Account Setup – Luso Digital Assets' Account
Luso Digital Assets may, in its sole discretion, limit the number of Accounts that you may hold, maintain or acquire.
In order to engage in any trades via the Services, you must create a Luso Digital Assets Account and provide any requested information.
When you create a Luso Digital Assets Account, you agree to:
(A) create a strong password that you do not use for any other website or online service;
(B) provide accurate and truthful information;
(C) maintain and promptly update your Luso Digital Assets Account information about you;
(D) maintain the security of your Luso Digital Assets Account by protecting your password and restricting access to your Luso Digital Assets Account;
(E) promptly notify us if you discover or otherwise suspect any security breaches related to your Luso Digital Assets Account; and
(F) take responsibility for all activities that occur under your Luso Digital Assets Account and accept all risks of any authorized or unauthorized access to your Luso Digital Assets Account, to the maximum extent permitted by law.
Identity Verification
By using the Services, you agree to provide Luso Digital Assets with the information it may request (which may be requested at any time deemed necessary) for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and allow Luso Digital Assets to keep a record of such information. You will need to complete certain verification procedures before you are permitted to start using the Luso Digital Assets' Services and to access your Account and the limits that apply to your use of the Luso Digital Assets Services may be altered as a result of information collected on an ongoing basis. The information Luso Digital Assets requests may include (but is not limited to) personal information such as your name, residential address, telephone number, email address, date of birth, taxpayer identification number, government identification number, copy of your ID card, information regarding your bank account (such as the name of the bank, the account type, routing number, and account number) network status, customer type, customer role, billing type, mobile device identifiers (e.g. international mobile subscriber identity and international mobile equipment identity) and other subscriber status details, and any such information that Luso Digital Assets is required to collect from time to time under applicable law.
Enhanced Due Diligence
You may also be required to undergo “Enhanced Due Diligence”, where Luso Digital Assets may request you to submit additional documents and/or information about yourself or your business, provide relevant records, and also arrange for meetings with Luso Digital Assets’ staff so that Luso Digital Assets may, among other things, establish the source of your wealth and/or funds for any transactions carried out in the course of your use of Luso Digital Assets’ Services. In providing Luso Digital Assets with this or any other information that may be required, you confirm that the information is true, accurate and complete, and you have not withheld any information that may influence Luso Digital Assets’ evaluation of you for the purposes of your registration for a Luso Digital Assets’ Account or the provision of Luso Digital Assets’ Services to you. By using the services, you undertake to promptly notify, in writing, and provide Luso Digital Assets with information regarding any changes in circumstances that may cause any information provided to become false, inaccurate or incomplete and also undertake to provide any other additional documents, records and information as may be required by Luso Digital Assets and/or applicable law. You allow Luso Digital Assets to keep records of such information. We will treat this information in accordance with our Privacy Policy. You authorize Luso Digital Assets to make enquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or Luso Digital Assets against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such enquiries. When we carry out these enquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our enquiries in full. This procedure is an identity check procedure only and should have no adverse effect on your credit rating. Additionally, Luso Digital Assets may require you to wait some amount of time after completion of a transaction before permitting you to use further Luso Digital Assets’ Services and/or before permitting you to engage in transactions beyond certain volume limits.
Suspension, Termination and Cancellation
Luso Digital Assets may: (a) refuse to complete, or place on hold, block, cancel or reverse a transaction you have authorized (even after funds have been debited from your Luso Digital Assets Account); (b) suspend, restrict, or terminate your access to any or all of the Luso Digital Assets’ Services; and/or (c) deactivate or cancel your Luso Digital Assets Account with immediate effect for any reason, including but not limited to where:
(A) we reasonably believe that we need to do so in order to protect our reputation;
(B) we are, in our reasonable opinion, required to do so by applicable law, regulation or any court or other authority to which we are subject in any jurisdiction;
(C) we reasonably suspect you of acting in breach of this Terms;
(D) we have concerns that a transaction is erroneous or about the security of your Luso Digital Assets’ Account or we suspect that the Luso Digital Assets’ Services are being used in a fraudulent or unauthorized manner;
(E) we suspect of money laundering, terrorist financing, fraud, or any other financial crime;
(F) use of your Luso Digital Assets’ Account is subject to any pending litigation, investigation, or government proceeding and / or we perceive a heightened risk of legal or regulatory non-compliance associated with your Luso Digital Assets’ Account activity; and / or
(G) you take any action that may circumvent our controls such as opening multiple Luso Digital Assets’ Accounts or abusing promotions which we may offer from time to time.
Luso Digital Assets may also refuse to complete or block, cancel or reverse a transaction you have authorized where there is Digital Currency in your Digital Currency Wallet to cover the transaction and (where applicable) associated fees at the time that we receive notification of the transaction or if your credit or debit card or any other valid payment method linked to your Luso Digital Assets Account or Digital Currency Wallet is declined.
If we refuse to complete a transaction and/or suspend, restrict or close your Luso Digital Assets Account, and/or terminate your use of Luso Digital Assets’ Services, we will (unless it would be unlawful for us to do so) provide you with notice of our actions and the reasons for refusal, suspension or closure, and where appropriate, with the procedure for correcting any factual errors that led to the refusal, suspension or closure of your Luso Digital Assets’ Account. In the event that we refuse to complete a transaction and/or suspend your Luso Digital Assets’ Account, we will lift the suspension or complete the transaction as soon as reasonably practicable once the reasons for refusal and/or suspension no longer exist. However, Luso Digital Assets is under no obligation to allow you to reinstate a transaction at the same price or on the same terms as the suspended, reversed or cancelled transaction.
We may suspend, restrict, or terminate your access to any or all of the Luso Digital Assets’ Services and/or deactivate or cancel your Luso Digital Assets’ Account, without reason by giving you two months’ notice. You acknowledge that our decision to take certain actions, including limiting access to, suspending, or closing your Luso Digital Assets Account, may be based on confidential criteria that are essential for the purposes of our risk management and security protocols. You agree that Luso Digital Assets is under no obligation to disclose the details of its risk management and security procedures to you.
Refund Requests
In case of receiving a Refund Request due to a claim (please refer to the Customer Feedback, Queries, Complaints and Dispute Resolution tab), Luso Digital Assets has 10 (ten) days to analyze, and, if accepted, another 20 (twenty) days to process the refund.
The refund will be processed by sending the acquired amount of digital assets from the buyer to the seller, and the received amount of currency received by Luso Digital Assets to the buyer.
Note that the client will take responsibility for any charges the trading platform might have enacted. However, the refund request is only valid if Luso Digital Assets accepts the justification of the buyer and will not be accepted if, for instance, that justification is the fluctuation of the correspondent digital currency.
Liability
Liability insurance from the trading platform - Luso Digital Assets uses its own platform, but also trading platforms to advertise its business. However, and in the case of advertisement in trading platforms, it has no connection whatsoever to the managing entity of said platforms. Therefore, in case the trading platform presents any error, flaw, delay or any other type of anomaly in the trading process or wallet management, the company does not answer for those problems. If any of these situations occur, they should be reported, exclusively, to the trading platform’s client support team.
Indemnification - You agree to indemnify us, our affiliates and service providers, and each of our, or their, respective officers, directors, agents, employees and representatives, in respect of any costs (including attorneys' fees and any fines, fees or penalties imposed by any regulatory authority) that have been reasonably incurred in connection with any claims, demands or damages arising out of or related to your breach and/or our enforcement of this Terms, or your violation of any law, rule or regulation, or the rights of any third party.
Limitations of Liability - Luso Digital Assets’ total aggregate liability to you for any individual claim or series of connected claims for losses, costs, liabilities or expenses which you may suffer arising out of, or in connection with, any breach by Luso Digital Assets of this Terms shall be limited to a maximum aggregate value of the value of the Digital Currency on deposit in your Wallet and your Digital Currency Wallet at the time of the relevant breach. Where we are considering a specific claim relating to a specific transaction this sum shall be further limited to the purchase/sale amount (as relevant) of the transaction in dispute.
Limitation of loss - In addition to the liability cap above, in no event shall we, our affiliates or service providers, or any of our or their respective officers, directors, agents, employees or representatives, be liable for any of the following types of loss or damage arising under or in connection with this Terms or otherwise:
(A) any loss of profits or loss of expected revenue or gains, including any loss of anticipated trading profits and/or any actual or hypothetical trading losses, whether direct or indirect, even if we are advised of or knew or should have known of the possibility of the same;
(B) any loss of, or damage to, reputation or goodwill; any loss of business or opportunity, customers or contracts; any loss or waste of overheads, management or other staff time; or any other loss of revenue or actual or anticipated savings, whether direct or indirect, even if we are advised of or knew or should have known of the possibility of the same;
(C) any loss of use of hardware, software or data and / or any corruption of data; including but not limited to any losses or damages arising out of or relating to any inaccuracy, defect or omission of digital currency price data; any error or delay in the transmission of such data; and/or any interruption in any such data; and
(D) any loss or damage whatsoever which does not arise directly as a result of our breach of this Terms (whether or not you are able to prove such loss or damage).
Applicable law - The limitation of liability is subject to any obligations that we have under applicable law and regulation, including our obligation to exercise reasonable care and skill in our provision of the Luso Digital Assets’ Services. Nothing in these Terms shall limit our liability resulting from our fraud or fraudulent misrepresentation, gross negligence, deliberate misconduct, for death or personal injury resulting from either our or our subcontractors’ negligence.
No Warranties - The Luso Digital Assets’ Services, the Luso Digital Assets’ Platform and the Website are provided on an "as is" and "as available" basis, with no further capacities assured by us regarding the availability of the Luso Digital Assets’ Services. Specifically, we do not give any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement. We do not make any promises that access to the Website, any of the Luso Digital Assets’ Services, or any of the materials contained therein, will be continuous, uninterrupted, timely, or error-free. We make no representations about the accuracy, order, timeliness or completeness of historical Digital Currency price data available on the Website. Any materials, information, view, opinion, projection or estimate presented via the Website is made available by Luso Digital Assets for informational purposes only, and is subject to change without notice. You must make your own assessment of the relevance, timeliness, accuracy, adequacy, commercial value, completeness and reliability of the materials, information, view opinion, projection or estimate provided on the Services, Platform and/or the Website. Accordingly, no warranty whatsoever is given by Luso Digital Assets and no liability whatsoever is accepted by Luso Digital Assets for any loss arising whether directly or indirectly as a result of you acting on any materials, information, view, opinion, projection or estimate provided in or made available through the Services, Platform and/or the Website. The Luso Digital Assets’ Services, Luso Digital Assets’ Platform and Website are not intended to provide specific investment, tax or legal advice or to make any recommendations about the suitability of any investments or products for any particular person. You should seek your own independent financial, legal, regulatory, tax or other advice before making a cryptocurrency purchase. In the event that you choose not to seek advice from a relevant adviser, you should consider whether the products available are suitable for you. We will make reasonable efforts to ensure that Digital Currency Transactions, requests for debits and credits involving Digital Currency Wallets, bank accounts, credit and debit cards are processed in a timely manner. However, Luso Digital Assets makes no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control. We undertake to make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards, and cheque issuances are processed in a timely manner. Nevertheless, Luso Digital Assets makes no representations or warranties regarding the amount of time needed to complete a processing which is dependent upon many factors outside of our control. Except for the express statements set forth in this Terms, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or spoken, with respect to your use and access of the Luso Digital Assets Services and Website.
No Liability for Breach - We are not liable for any breach of the Terms, including delays, failure in performance or interruption of the Services, when they arise directly or indirectly from abnormal and unforeseeable circumstances beyond our control, the consequences of which would have been unavoidable despite all effects to the contrary, nor are we liable where the breach is due to the application of mandatory legal rules.
Customer Feedback, Queries, Complaints and Dispute Resolution
Contact Luso Digital Assets - If you have any feedback, questions, or complaints, contact us via our ‘Customer Support’ e-mail, at support@lusodigitalassets.com. When you contact us, please provide us with your name, e-mail address, and any other information that we may need to identify you, your Luso Digital Assets Account, and the transaction on which you have feedback, questions, or complaints.
Complaints - If you have a dispute with Luso Digital Assets, you agree to contact our support team in the first instance to attempt to resolve such issue. If we cannot resolve the dispute through our support team, both parties agree to use the complaints process set out in this Section. You agree to use this process before commencing any legal action against Luso Digital Assets. If you do not follow these procedures before pursuing legal action, we shall have the right to ask the relevant court/authority to dismiss such legal action/application unless and until you complete the following steps. In the event of a complaint which has not been resolved through your contact with Luso Digital Assets’ Support, please set out the cause of your complaint, how you would like us to resolve the complaint and any other information you believe to be relevant. We will acknowledge receipt of your complaint request after you submit it by e-mail. A customer complaints officer (an “Officer”) will consider your complaint. The Officer will consider your complaint based on the information you have provided, and any information provided by Luso Digital Assets. Within 15 (fifteen) business days of our receipt of your complaint the Officer will address all points raised in your complaint by sending you an email (“Resolution Notice”) in which the Officer will: (i) offer to resolve your complaint in the way you requested; (ii) make a determination rejecting your complaint and set out the reasons for the rejection; or (iii) offer to resolve your complaint with an alternative solution. In certain circumstances, if the Officer is unable to respond to your complaint within 15 (fifteen) business days, the Officer will (unless prohibited by applicable law) send you a holding reply indicating the reasons for a delay in answering your complaint and specifying the deadline by which the Officer will respond to your complaint (which will be no later than 35 business days from our receipt of your complaint). Any offer of resolution made to you will only become binding on us if accepted by you. An offer of resolution will not constitute any admission by us of any wrongdoing or liability regarding the subject matter of the complaint.
If we have not been able to resolve your complaint via the complaint’s process set out above, you may escalate your complaint via the dispute processes below as applicable to you.
Both parties agree that we shall not commence any of the dispute processes below in relation to the whole or part of your complaint until the complaint process set out above has been completed, although nothing shall be construed as preventing either party from seeking conservatory or similar interim relief in any court of competent jurisdiction:
(A) For complaints or disputes arising out of or in connection with this Terms or the provision of Luso Digital Assets Services, the Luso Digital Assets Platform or the Website, that cannot be resolved via the complaint process set out above, you submit to the non-exclusive jurisdiction of the courts of Portugal without prejudice to any mandatory rights available to consumers (being individuals not engaged in conduct related to their trade, business or profession, “Consumers”) to commence proceedings against Luso Digital Assets before the courts of the jurisdiction in which they are domiciled.
Data Protection
Personal Data - You acknowledge that we may process personal data in relation to you (if you are an individual), and personal data that you have provided (or will provide in the future) to us in relation to your employees and other associates, or other individuals, in connection with this Terms, or the Luso Digital Assets’ Services. We will process these personal data in accordance with our Privacy Policy, which shall form part of this Terms.
Accordingly, you represent and warrant that:
(A) your disclosure to us of any personal data relating to individuals other than yourself was or will be made in accordance with all applicable data protection and data privacy laws, and those data are accurate, up to date and relevant when disclosed;
(B) before providing any such personal data to us, you acknowledge that you have read and understood our Privacy Policy, and, in the case of personal data relating to an individual other than yourself, have (or will at the time of disclosure have) provided the individual with a copy of, or directed the individual towards a webpage containing that Privacy Policy (as amended from time to time); and
(C) if from time to time we provide you with a replacement version of the Privacy Policy, you will promptly read that notice and provide updated copies of the Privacy Policy to, or re-direct towards a webpage containing the updated Privacy Policy, any individual whose personal data you have provided to us.
For further information regarding our Data Protection measures, please refer to our Privacy Policy, available on Luso Digital Assets’ Website.
Security
We assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of Luso Digital Assets and/or failure to follow the requirements of the Terms and Conditions for Website Users, or follow or act on any notices or alerts that we may send to you.
Security Breach - If you suspect that your Luso Digital Assets’ Account or any of your security details have been compromised or if you become aware of any fraud or attempted fraud or any other security incident (including a cyber-security attack) affecting you and/or Luso Digital Assets (together a “Security Breach”), you must:
(A) notify Luso Digital Assets Support as soon as possible by email free of charge at: support@lusodigitalassets.com;
(B) continue to provide accurate and up to date information throughout the duration of the Security Breach; and
(C) you must take any steps that we reasonably require to reduce, manage or report any Security Breach.
Failure to provide prompt notification of any Security Breach may be taken into account in our determination of the appropriate resolution of the matter.
Safety and Security of Your Computer and Devices - Luso Digital Assets is not liable for any damage or interruptions caused by any computer viruses or other malicious code that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and e-mail services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from us.
General
Your Compliance with Applicable Law – Users are required to comply with all applicable laws, regulations, licensing requirements and third-party rights (including, without limitation, data privacy laws and anti-money laundering and countering the financing of terrorism laws) in your use of the Luso Digital Assets’ Services, the Luso Digital Assets’ Platform and the Website. It is the responsibility of customers to ensure that they are abiding by the legal requirements of their country of residence concerning the use of our services. The company reserves the right to suspend or terminate accounts of users found to be in violation of any laws or regulations, or engaging in fraudulent or suspicious activities. We collaborate with regulatory authorities to uphold the integrity of our platform and foster a trustworthy investment environment for all users.
Limited License - We grant you a limited, non-exclusive, non-transferable license, subject to these Terms, to access and use the Website, and related content, materials, information (collectively, the "Content") solely for approved purposes as permitted by us from time to time. Any other use of the Website or Content is expressly prohibited and all other right, title, and interest in the Website or Content is exclusively the property of Luso Digital Assets and its licensors. You agree not to copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the Content, in whole or in part “www.lusodigitalassets.com” and all logos related to the Luso Digital Assets Services or displayed on the Website are trademarks or registered marks of Luso Digital Assets or its licensors. You may not copy, imitate or use them without our prior written consent.
Prohibited and Conditional Use - In connection with your use of the Luso Digital Assets’ Services, and your interactions with other users and third parties, you agree to comply with our Policies and Terms. Nothing contained herein should be construed as granting, by implication, estoppel or otherwise, or as any license or right for the Digital Currency. Also, you undertake not to use the Services for illegal, unlawful, fraudulent, unethical, or unauthorized purposes or to promote or facilitate any illegal, unlawful, fraudulent, unethical or prohibited activities. We reserve the right to, at all times, monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process or governmental request.
You also undertake not do use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access our Services or to extract data.
Prohibited Activities – Luso Digital Assets will refuse you as a client and deny to serve you any of its Services if you carry out any of the following activities – or if your businesses and/or activities are, in any way, linked to such –, which are outside our risk appetite:
(A) Proceeds of money laundering;
(B) Terrorist financing activities;
(C) Trade (or any possible connection with the trade, manufacture, transportation, financing, advising, assisting or using) of weapons, ammunition, defensive measures or other equipment, goods, military or defense technology and personnel involvement (as applicable) directly, indirectly or in any way;
(D) Industry involving child labor/forced labor;
(E) Sex/pornography industry;
(F) Activities that result in the destruction of virgin forest;
(G) Trade in diamonds without Kimberly Process certification;
(H) Animal testing or activities that promote or encourage the mistreatment of animals (e.g. hunting, trading in animal parts, whaling, etc.) from which negative news about LDA may result;
(I) Manufacture, sale or marketing of unlicensed chemical or pharmaceutical products;
(J) Unregulated gambling/black market-oriented gambling;
(K) Unregulated financial activities;
(L) Unregulated charities;
(M) Unregulated virtual assets; and
(N) Shell banks.
This restriction is applicable if your funds come or are destined to fund/finance any of these prohibited activities.
By these Terms, you undertake not to perform or fund any of the Prohibited Activities described above.
Export Controls, Sanctions and Prohibited Jurisdictions - Your use of the Luso Digital Assets’ Services and the Website is subject to international export controls and economic sanctions requirements. By sending, receiving, buying, selling, trading or storing Digital Currency through the Website or Luso Digital Assets’ Services, you agree that you will comply with those requirements. You are not permitted to acquire Digital Currency or use any of the Luso Digital Assets Services through the Website if:
(A) you are in/under the control of, or a are a citizen or resident of Crimea & Sevastopol, Iran, North Korea, Sudan, or Syria, Russia, Belarus, Baikonur, Libia or any other country subject to United States embargo, UN sanctions, the European Union or HM Treasury's financial sanctions regimes (each a "Sanctioned Country"), or if you are a person on the economic sanctions lists as published from time to time by applicable authorities (including, but not limited to the U.S. Commerce Department's Denied Persons List, Unverified List, or Entity List, or the EU financial sanctions regime (a "Sanctioned Person");
(B) you intend to supply any acquired or stored Digital Currency or Luso Digital Assets’ Services to a Sanctioned Country (or a national or resident of a Sanctioned Country) or Sanctioned Person;
(C) you are a resident of the United States of America; or
(D) you are a resident of the United Kingdom.
High-risk countries – Luso Digital Assets may also apply enhanced control measures if you are a citizen or resident of a high-risk country. Regardless of being a resident or citizen of one of these countries, you undertake to comply with any additional requests we may make to mitigate the risk arising from said citizenship or residency. This list will not be made available to the public but includes countries with high levels of corruption, geopolitical instability, lack of financial inclusion, high bank secrecy, among others.
Relationship of the Parties – Nothing in these Terms shall be deemed or is intended to be deemed, nor shall it cause, either you or Luso Digital Assets to be treated as partners or joint ventures, or either you or Luso Digital Assets to be treated as the agent or financial advisor of other.
Targeted Promotions or Ads – Luso Digital Assets refrains from participating in any form of targeted promotion and does not endorse advertisements specifically directed at citizens from or residents of the United Kingdom or the Netherlands. Luso Digital Assets provides its services both on its official website and on third-party platforms. On these external platforms, we publish offers for the purchase and/or sale of cryptocurrency. It is crucial to note that these offers on third-party platforms, serve as business declarations only and are intended to be accepted by any customer of said third party platform that may be interested in entering into business with us, irrespective of their origin or residence. These offers published in third parties’ websites do not embody a marketing communication, an invitation or inducement to engage in any activity, or an invitation or inducement to engage in claims management activities. Furthermore, these offers are not more available to any citizen or resident of a determined country or jurisdiction. By accepting these Terms and Conditions and using any of the Services, you are expressly acknowledging, for all legal purposes, that you are trading cryptocurrency with Luso Digital Assets is a result of your voluntary and informed decision, based on your own willingness and without being influenced by any promotional advertisement or incentives.
Transparent Disclosure of Risks and Liabilities – Luso Digital Assets is committed to transparently disclose all potential risks associated with cryptoassets. We emphasize the importance of conducting thorough research and understanding the volatile nature of the market. Users should be aware that the value of the assets can fluctuate, and they may lose a significant portion or all of their capital. It is imperative for customers to carefully consider their risk tolerance and financial situation before engaging in any activities through our platforms. The company will not be held liable for any losses incurred by customers due to market fluctuations or unforeseen circumstances.
Privacy of Others - If, for any reason not prohibited by law, you shall receive information about another user through the Luso Digital Assets’ Services, you must keep the information confidential and only use it in connection with the Luso Digital Assets’ Services. You may not disclose or distribute any user’s information to any third party, for any reason what so ever, or use that information except as reasonably necessary to carry out a transaction and other functions reasonably incidental thereto such as support, reconciliation and accounting unless you receive that user’s express consent to do so. You may not send unsolicited communications to another user through the Luso Digital Assets’ Services.
Contact Information and Update of the Client’s Information - You are responsible for keeping your contact details (including your email address and telephone number) up to date in your Luso Digital Assets’ Account profile in order to receive any notices or alerts that we may send to you (including notices or alerts of actual or suspected Security Breaches). You also undertake to keep Luso Digital Assets dully updated on any changes in the information given in the Account Setup process.
Taxes - It is of your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the Luso Digital Assets’ Services, and to withhold, collect, report and remit the correct amount of tax to the appropriate tax authorities. Your transaction history is available through your Luso Digital Assets’ Account.
Unclaimed Property If we hold Digital Currency on your behalf, and we are unable to contact you and have no record of your use of the Luso Digital Assets’ Services for several years, applicable law may require us to report the Digital Currency as unclaimed property to the authorities in certain jurisdictions. We will try to locate you through the contacts and at the address shown in our records, but if we are unable to, we may be required to deliver any such Digital Currency to the authorities in certain jurisdictions as unclaimed property. We reserve the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
Death of Account Holder - For security reasons, if we receive legal documentation confirming your death or other information leading us to believe you have died, we will freeze your Luso Digital Assets’ Account and during this time, no transactions may be completed until: (i) your designated executor/trustee has opened a new Luso Digital Assets Account or informed Luso Digital Assets about another, existing, Luso Digital Assets’ Account in their name, as further described below, and the entirety of your Luso Digital Assets’ Account has been transferred to such new account, or (ii) we have received proof in a form satisfactory to us that you have not died. If we have reason to believe you may have died but we do not have proof of your death in a form satisfactory to us, you authorize us to make inquiries, whether directly or through third parties, that we consider necessary to ascertain whether you have died. Upon receipt by us of proof satisfactory to us that you have died, the executor/trustee you have designated in a valid Will or similar testamentary document will be required to open a new Luso Digital Assets Account or inform Luso Digital Assets of another, existing Luso Digital Assets Account in their name, to which the entirety of the funds in your Luso Digital Assets’ Account shall be transferred. If you have not designated an executor/trustee, then we reserve the right to (i) treat as your executor/trustee any person entitled to inherit your Luso Digital Assets’ Account, as determined by us upon receipt and review of the documentation we, in our sole and absolute discretion, deem necessary or appropriate, including (but not limited to) a Will or similar document, or (ii) require an order designating an executor/trustee from a court having competent jurisdiction over your estate. In the event we determine, in our sole and absolute discretion, that there is uncertainty regarding the validity of the executor/trustee designation, we reserve the right to require an order resolving such issue from a court of competent jurisdiction before taking any action relating to your Luso Digital Assets Account. Pursuant to the above, unless your designated executor/trustee already holds a Luso Digital Assets’ Account (in which case they may still be required to undergo additional identity verification procedures), the opening of a new Luso Digital Assets Account by a designated executor/trustee is mandatory following the death of a Luso Digital Assets’ Account owner, and you hereby agree that your executor/trustee will be required to open a new Luso Digital Assets’ Account and provide the information required to conclude the onboarding process in order to gain access to the contents of your Luso Digital Assets Account.
Entire Agreement - These Terms (including related documents by reference herein) comprise the entire understanding and agreement between you and Luso Digital Assets as to the subject matter hereof, and it supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Terms), and every nature between and among you and Luso Digital Assets.
Interpretation - Section headings in this Terms are for convenience only and shall not govern the meaning or interpretation of any provision of this Terms.
Transfer and Assignment - These Terms are personal to you and you cannot transfer or assign your rights, licenses, interests and/or obligations to anyone else. We may transfer or assign our rights licenses, interests and/or our obligations at any time, including as part of a merger, acquisition or other corporate reorganization involving Luso Digital Assets, provided that this transfer or assignment does not materially impact the quality of the Luso Digital Assets’ Services you receive. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns. You reserve the right to terminate the agreement with immediate effect in the event we transfer and/or assign the Agreement.
Security Interests - You must not create security over your Digital Currency unless you have obtained our prior approval in writing.
Invalidity - If any provision of these Terms is determined to be invalid or unenforceable under any applicable law, this will not affect the validity of any other provision. If any provision is found unenforceable, said provision will be severed, and the remaining provisions will be enforced.
Enforcement of Our Rights - We may not always strictly enforce our rights under these Terms. If we do choose not to enforce our rights at any time, this is a temporary measure and we may enforce our rights strictly again at any time.
Language - This Agreement and any information or notifications that you or we are to provide should be in English. Any translation of this Terms or other document is provided for your convenience only and may not accurately represent the information in the original English. In the event of any inconsistency, the English language version of this Terms or other documents shall prevail.
Change of Control - In the event that Luso Digital Assets is acquired by or merged with a third-party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you and our relationship with you (including these Terms) as part of such merger, acquisition, sale, or other change of control.
Survival - All provisions of these Terms which by their nature extend beyond the expiration or termination of this Terms, including, without limitation, the Sections relating to suspension or termination, Luso Digital Assets’ Account cancellation, general use of the Luso Digital Assets’ Platform or Website, disputes with Luso Digital Assets, and general provisions will continue to be binding and operate after the termination or expiration of this Terms.
Governing Law and Jurisdiction - This Terms and the relationship between us shall be governed by the laws of Portugal and the non-exclusive jurisdiction of the Portuguese courts, subject to any local mandatory law, or rights available to Consumers.
Customer Statement
The Customer declares that the execution of this contract was preceded by a careful reading of the same, having been informed and clarified of all the clauses and content thereof by Luso Digital Assets.
The Customer further declares to accept the present Terms and that it is of their own free will and with full and complete clarification that they enter into the present Contract.
