Terms & Conditions

This Disclaimer provides important information in relation to your interactions with the Services, the Wallet, and your Account, provided to you by FENTAX s.r.o. Please read this Disclaimer carefully and use it for your reference and consideration.

Please note that the Terms of Service stipulated in this document may apply differently in regards to different Services and transactions. Any terms applying to specific services and transactions not referred to in these Terms of Service must not overwrite or otherwise prevail over the provisions of these Terms and shall be applied in addition to them.

Before engaging with any actions related to the use of our Services and Products, please consider the risks of conducting transactions and dealings with Virtual Currencies. The Risk Statement disclosing the risks associated with the use of Virtual Currencies is available as an Annex to these Terms of Service.

FENTAX s.r.o. is not a financial, tax, or legal advisor and shall not be perceived as such. Any information and statement mentioned in our legal documents, including these Terms of Service, as well as on our website, digital goods, applications, and other forms of media containing such information should not be used as professional financial, tax, or legal advice. Before engaging with our Services and Site, it is strongly recommended to consult the professional advisors in the relevant fields to be fully aware of the risks, benefits, and nature of the relationship with us.

We reserve the right to change these Terms of Service and other applicable terms in the future. Any alterations and amendments will be published on our website. Before entering into a contractual relationship with us or executing any further transactions, you should get acquainted with the latest version of these Terms of Service first.

If you have any questions or inquiries about these documents, please contact us via our website at https://cryptfinex.eu/ or by writing to contact@cryptfinex.eu.

These terms (hereinafter, the “Terms”) are intended for customers residing in the European Union (the “EU”) and the European Economic Area (the “EEA”).

These Terms apply as a contract between FENTAX s.r.o. (also referred to in these Terms as “we”, “our” or “us”) and the Customer (also referred to as “you” or “your”).

FENTAX s.r.o. is performing activities on the basis of the active and valid cryptocurrency authorization, supervised by the Financial Analytical Office (Finanční analytický úřad hereinafter, the “FAO”), and is therefore authorized to provide the following services:

Virtual Currency wallet service, including storage of the Virtual Currency funds and issuing of encrypted user keys; Virtual Currency to Fiat Currency exchange; Fiat Currency to Virtual Currency exchange; Virtual Currency to Virtual Currency exchange.

By creating an account, you confirm that you have reached the legal age in your country of residence and therefore are legally capable of entering into agreements and being bound by its terms. You further acknowledge and agree to be legally bound by the terms and conditions laid down in these Terms in their entirety.

You understand and affirm that by logging into your account, you shall constitute your agreement with these Terms and other applicable agreements between you and FENTAX s.r.o. The same applies to any event in which the said Terms have been amended, and you have logged into your account without expressing prior written notice of non-agreement to the new version of these Terms. You further acknowledge that we have a right to reaffirm your acceptance of these Terms from time to time, as we introduce amendments and that your acceptance shall be a prerequisite to further access and use of our Services. Please note that any transactions or orders placed with FENTAX s.r.o. after entering into force of the updated provisions of these Terms may be subject to the said amendments. If you disagree with these Terms, you should discontinue the use of our Services and close your account in accordance with the provisions of these Terms.

To use our Services, you must submit all the necessary information and documents in accordance with our Compliance Clearance procedure pursuant to the Act No 253/2008 Sb. of 5 June 2008 on Selected Measures against Legitimisation of Proceeds of Crime and Financing of Terrorism of the Czech Republic (the “AML/CTF Act”). In addition, you must meet eligibility criteria to use our Services.

Before engaging with and using our Services, you must ensure you have read these Terms in full, including all the important legal terms, such as disclaimer of liability, disclaimer of warranties, indemnifications, rules applicable to dispute resolution, and risk disclosure.

If you have any questions regarding the use of our Services, these Terms, or any other inquiry, submission of feedback, or complaints, please contact us at: contact@cryptfinex.eu.

1. Eligibility

Availability of our Services depends on several factors determining your eligibility to engage with the said Services. FENTAX s.r.o. may refrain from providing the Services in certain locations and jurisdictions: the information about such locations and jurisdictions is available on our website at https://cryptfinex.eu/.

To be deemed eligible to use and engage with our Services, you must warrant that:

You have reached the legal age in your country of residence and therefore are legally capable of entering into agreements and being bound by its terms; You have never been suspended or otherwise restricted from using our Services; Entering into a binding agreement with us does not contradict or breach any other contractual terms by which you are legally bound; You are not located and/or residing in any of the restricted locations and jurisdictions, including those subject to the EU and the Czech Republic economic restriction measures (i.e., embargoes); You are not identified as an individual that is officially classified as a Specially Designated National and Blocked Person (the “SDN”), or is affiliated with companies, groups, and entities classified as the SDN, or otherwise represent such natural or legal person; You are not subject to any international sanctions, including the EU and United Nations sanctions, or affiliated with companies, groups, and entities subject to international sanctions, or otherwise represent such natural or legal person.

Eligibility of an individual intending to use the Services on behalf of a legal entity is determined by meeting the following requirements:

Your organization is incorporated with all due diligence of the company formation and incorporation in the country of its legal location; Your organization conducts its activities in accordance with the applicable laws and regulations; You have been legally authorized to represent your organization and otherwise enter into legally binding agreements on its behalf; Your organization has not been associated with, affiliated with, or otherwise identified as the SDN; Your organization is not subject to any international sanctions, including the EU and United Nations sanctions, or affiliated with companies, groups, and entities subject to international sanctions, or otherwise represent such natural or legal persons; Your organization does not fall under the definition of Prohibited Businesses as stated in Annex 2 to these Terms and does not represent nor conducts its business activities in any of the fields laid down in Annex 2.

We reserve the right to evaluate your eligibility to access and use our Services at any moment by assessing your compliance with the eligibility criteria listed above. In the case of amendment, alteration, or extension of eligibility criteria, we may review your eligibility accordingly. FENTAX s.r.o. may require you to provide proof of eligibility if necessary. Any decision, including the initial and ongoing evaluations, reviews, and assessments of your eligibility, shall be final.

2. Our Services

2.1. Virtual Currency Exchange

Virtual Currency Exchange enables you to execute purchases and sales of Virtual Currencies at prices and rates indicated by the Exchange via the use of your Account. You may opt to purchase Virtual Currency with Fiat Currency, and vice versa. Respectively, you may also opt to sell your Virtual Currency and receive Fiat Currency, and vice versa.

OPTIONAL: We may impose limitations on the availability of our Exchange services on certain hardware devices and software. By signing up for your Account, you understand that the Exchange may not be accessible via all electronic devices and software platforms. We enforce such limitations due to the different standards of hardware and software security imposed by different manufacturers and developers, some of which cannot guarantee the safety and transparency of security protocols.

2.2. Orders

2.2.1. Placing Orders

Our Exchange operates on a full reserve principle. All Orders are executed on a pre-paid basis, meaning that you must ensure the sufficient amount of funds in your Account to fulfill an Order. The amount of funds necessary to execute an Order is reserved until further fulfillment, cancellation, expiration, or termination of your Order. The total amount of funds necessary for placing an Order shall cover the value of the Order and all the applicable fees. Any Order the required amount of which exceeds the amount of freely available funds in your Account cannot and will not be executed and shall be rejected.

By placing an Order, you confirm that we are not responsible for canceling it in full or in part. You confirm that canceling an Order may not be possible to cancel it after it has already been processed for fulfillment.

You should make sure that the following requirements are fulfilled before placing an Order:

You have entered the desired amount of Virtual Assets to buy or sell and made sure that the desired amount is entered correctly; You have reviewed the purchase or sale rates of your Order; You have reviewed the fees applicable to your Order; You understand the net worth of Virtual or Fiat Assets to be received.

2.2.2. Order Fulfillment

Once an Order has been placed, there may be a possibility that it may not be fulfilled. The reasons affecting the fulfillment of your Orders include (but are not limited to):

The activity status of the Exchange, including the events of downtime, planned and emergency system and software maintenance, seasonal and state holidays, etc.; The effect of your Order on the condition of the Market, i.e. whether or not your Order falls under the definition of Market Manipulation; The availability and sufficient amount of funds on your Account; Mechanical and electronic state of the hard- and software; Compliance requirements and other relevant factors.

We will notify you of any unsuccessful attempt to fulfill your Order, specifying the reasons leading to the failure to fulfill the Order and asking for your consent to re-submit and refulfill your Order given the current Exchange Rate.

Please note that in an event of inability to execute an Order due to the reasons that include, but are not limited to, the technical capabilities and failures, as well as other relevant conditions falling outside of the scope of our direct control, we shall not be liable for any failures and delays in executing your Orders.

In an event of inability to fulfill your Order due to compliance reasons, we reserve the right to delay the execution of such an Order until the compliance clearance has been completed. Any such Order will be subject to further review within a reasonable period. In case we are unable to clear an Order on the basis of the necessary compliance requirement due to the lack of sufficient information or other relevant reasons, we may require you to provide additional information about your identity and/or the nature of your transaction, as well as other important details relevant to compliance requirements.

We will not fulfill any Order failing to meet the relevant compliance requirements, given that the necessary information has not been provided and our Compliance Team has reasonable grounds not to fulfill such an Order on the basis of its non-compliance with the relevant requirements and legislation. Such Orders will not be fulfilled under any circumstances.

2.2.3. Order Confirmation

After the placement of an Order, we will send you a confirmation e-mail informing you of the successful placement. If your Order is subsequently fulfilled, you will receive a second confirmation e-mail, informing you of the fulfillment.

Order Confirmation e-mail contains such information as the time and date of your Order, the Order amount, the fee paid, as well as our contact information in case you have further questions, inquiries, or complaints about the Order.

2.2.4. Conversion Fees

Conversion Fee is a fee paid over a purchase or a sale of a Virtual Currency as an additional value. We never conceal or otherwise hide our Conversion Fees from you: you will see the applicable fee next to the Order value before the Order placement, as well as after its placement in the Order Confirmation e-mail.

Conversion Fees are not fixed-rate and are subject to change. Before placing an Order, please ensure you have reviewed our current Conversion Fees on our website: https://cryptfinex.eu/.

2.2.5. Exchange Rates

Exchange Rate is a value assigned to a Virtual Currency against a Fiat Currency for its conversion (purchase or sale). The Exchange Rate differs in accordance with the given Virtual Currency and may be adjusted over time. Before placing an Order, please ensure you have reviewed our current Exchange Rates on our website: https://cryptfinex.eu/.

Please note that the purchase Exchange Rates may differ from the sale Exchange Rates. We cannot guarantee that the said Exchange Rates will stay the same and/or consistent over time. By placing an Order, you confirm that you are aware of the fluctuating nature of the Exchange Rates and that the total price paid for an Order may differ at any time given the current applicable Exchange Rate.

2.3. Deposits, Transactions, and Withdrawals

2.3.1. Deposits

To place Orders and execute transactions, you should ensure your Account holds a sufficient amount of funds. You may deposit and execute Orders and transactions with Virtual and Fiat Currencies.

Please note that we shall not be liable for any error, failure, delay, and/or reliability of the service providers you use to deposit your Account. Before sending funds to your Account, make sure you have reviewed and agreed to your external service provider’s policies on transferring funds as well as the relevant compliance legislation and regulations.

2.3.2. Fiat Currency Transactions

You may choose to purchase Virtual Currencies with Fiat Currency. You may do so by either depositing a desired amount of Fiat Currency into your Account or by linking the desired payment method associated with your source of fiat funds to the Account before an Order is placed.

If you opt to deposit Fiat Currency into your Account, we shall hold such fiat funds on your behalf in a bank account that is completely separate and independent from FENTAX s.r.o.'s own bank accounts. If you opt to link a payment method to your Account, you may select a desired method from a list of options that will be displayed to you and confirm it. By confirming the linking of a payment method, you grant us authorization to debit the necessary amounts of funds to place and fulfill your Orders and transactions.

You may also opt to sell your Virtual Currency for Fiat Currency. In this case, by placing such an Order, you give us authorization to deduct the necessary amount of Virtual Currency funds to receive the desired amount of Fiat Currency. The Fiat Currency shall be delivered to the payment method of your choice.

2.3.2.1. OPTIONAL: Non-Primary Fiat Currency

Currently, our Exchange supports Fiat Currency transactions with primary Fiat Currencies listed on our website. If you opt to purchase Virtual Currencies with Fiat Currency other than that listed on our website as primary, you accept that in some cases in may be necessary for us to execute such Orders and transactions via third-party Foreign Exchanges (the “FX”). In an event of such a transaction via an FX, you understand that the non-primary Fiat Currency of your choice should be first exchanged to a primary currency via one of the third-party FX providers based on the applicable market and exchange rates.

By placing an Order or a transaction with a non-primary Fiat Currency, you acknowledge that we may execute such Orders or transactions on your behalf with regard to the timing and price. You also acknowledge that we have a right to opt to execute the Exchange of a non-primary Fiat Currency to a primary one at our discretion as per the choice of the FX. In some cases, we may opt for our partner FX, meaning that in such cases our interests in executing the FX transaction faster rather than at a lower rate may prevail. Therefore, you consent to such a possibility and refrain from raising a complaint on the basis of the conflict of interests or any other event arising from our primary partnership relations and interests.

2.3.3. Virtual Currency Transactions

Any Virtual Currency funds that you hold in your Account are your property. Any funds you purchase are held by us on a custodial basis only for your benefit and on your behalf. By no means shall FENTAX s.r.o. access and use any Virtual Currency funds held in your Account for the purposes of transferring the ownership, loaning the said funds to your and third parties, claiming interests over the said funds on our or third parties’ behalf, etc. The following shall be accounted for before depositing any Virtual Currency funds at our Exchange:

As an owner of the deposited Virtual Currency funds, you acknowledge the risks associated with buying and selling Virtual Currencies (for more information, please see Annex 1 to these Terms). FENTAX s.r.o. shall not be liable for any losses as well as fluctuations in rates and value of Virtual Currencies deposited into your Account; We shall not loan, transfer, sell, pledge or otherwise dispose of your Virtual Currency funds deposited at your Account at our sole discretion and by our sole decision-making. Except for the circumstances stipulated by law or by order of the competent authorities, such as law enforcement institutions and courts, your Virtual Currency funds will be transferred, processed and engaged with by us in accordance with your instructions only; FENTAX s.r.o. undertakes a range of measures to ensure more secure storage of your Virtual Currency funds. Such measures may include, but are not limited to, storing your funds in shared blockchain addresses, all of which are controlled solely by us. In an event of applying such security measures to storing your Virtual Currency funds, we shall by no means transfer and store your funds unsegregated from FENTAX s.r.o.’s Virtual Currency funds. Additionally, we may opt to store your Virtual Currency funds deposited for use on our Exchange by using one or more of the appropriate storage methods, including “hot wallets”, “cold wallets” and separate ledger entities.

By depositing Virtual Currency funds for use on our Exchange, you agree that we reserve the right to cancel, terminate, or otherwise refuse the processing of any Virtual Currency transaction in accordance with law or lawful order of any law enforcement authority or court. Any transaction deemed to be associated with acts of money laundering, financing terrorism, committing fraud or other financial crimes will never be processed by FENTAX s.r.o. and appropriate action will be taken as prescribed by law, should such transaction be identified.

2.3.4. Withdrawals

2.3.4.1. Fiat Currency Withdrawals

It is permissible to withdraw Fiat Currency funds only to a bank account opened in your name. Withdrawals to any third-party bank accounts, including bank accounts of authorized third parties, are prohibited. Any withdrawal must be authorized directly by you by using means of authentication.

2.3.4.2. Virtual Currency Withdrawals

Virtual Currency withdrawals shall be processed at the speed of the applicable Virtual Currency network. Please note that any delay or interruption in regards to the speed, maintenance, and operational state of any Virtual Currency network lies outside of our control and we shall not be liable for any disruption or delay thereof.

2.3.4.3. Wire Withdrawals

Wire withdrawals are processed only to a bank account opened in your name and in accordance with normal banking hours. You understand that the withdrawal of funds may be affected by events such as bank and state holidays, weekends, the internal processes of your bank and financial institutions as well as other relevant factors.

3. Your Account

3.1. Registering an Account

Registration of an Account is a prerequisite to using any of our Services. Upon the registration, you will be asked to provide your details, such as your name and e-mail address, and agree to these Terms of Service. By accepting these Terms, you acknowledge and confirm that you are acting on your behalf and opening an Account for yourself only. In an event of opening of an Account by a third party acting on your behalf, such as your representative, you acknowledge that we may require you to present the respective proof of authorization granted to the said party to act on your behalf, such as a Power of Attorney or other proof of authorization.

Please note that appointing a third party to act on your behalf and expressing explicit permission for them to perform actions, including but not limited to, registering an Account, does not waive any liability off you as a subject to these Terms. Any action performed by such a third party shall be considered authorized by you and therefore being performed in accordance with your direct and indirect instruction. By accepting these Terms, you acknowledge that you retain full responsibility for the instructions given to any third party authorized to act on your behalf and any act and omission arising from the said instructions thereof. You further confirm that we are not liable for any such act or omission. You may alter or recall authorization granted to a third party by submitting a written notice to us via e-mail: contact@cryptfinex.eu.

Only users (including both natural and legal persons) with a fully registered Account that passed our Compliance Clearance are deemed FENTAX s.r.o. customers. One person may create and use only one Account. Any duplicate Accounts associated with your data already submitted to another Account will be suspended.

Compliance Clearance requires us to inquire and receive additional information from you. Please note that some of such inquired information may be considered personal data as per the European General Data Protection Regulation (the “GDPR”). Please read the next section carefully to understand the degree of information we demand to conduct the Compliance Clearance of our customers. To read more about how we treat your personal information and your rights associated with personal data you entrust us with, please read our Privacy Policy.

3.2. Compliance Clearance

Compliance Clearance is a procedure undertaken by our compliance team to ensure our customers' background and eligibility for opening an Account with us in accordance with the requirements and provisions of the AML/CTF Act. FENTAX s.r.o. ensures the Compliance Clearance procedures to be undertaken for all users registering an Account in accordance with due diligence measures prescribed by AML/CTF Act. To read more about our compliance with AML/CTF Act and measures imposed by us to prevent and combat money laundering, terrorism financing, fraud, and other financial crimes, please read our AML Policy.

Before being granted access to your Account, including access to your use of our Services, respectively, you should complete the verification procedures necessary to ensure Compliance Clearance. Our Compliance Team will evaluate the information you submit in accordance with their instructions and inquiries to assess it based on the applicable legal requirements and policies. To provide a quality assessment of our prospective customers' background information and ensure decision-making in accordance with the legal requirements in force, we ensure that the said assessment is performed by professionals who have obtained the necessary training and qualifications to undertake the tasks associated with the assessment.

We may request you to provide such information as your name, date of birth, residential address, telephone number, e-mail address, personal identification code, as well as other information about yourself and/or your business activities, including records of such activities, proof of source and origin of funds, overview of the business structure, estimated turnover, major suppliers and partners, etc. Please note that some of the inquired information may fall under the definition of personal data under the GDPR; therefore, we strongly recommend you read our Privacy Policy to learn of your rights as data subject providing us with your personal information.

By providing us with the information requested to verify your identity for the purposes of Compliance Clearance, you acknowledge and confirm that all the information submitted to us by you is true, accurate, and complete, and you have not deliberately concealed or otherwise tampered with or altered information for the purposes of influencing the outcome of our assessment. You further agree that any information that was presented in a false, inaccurate, or incomplete state is corrected by presenting additional documents and records correcting the said inadequacies. In an event of change of circumstances influencing the correctness and integrity of submitted information, you agree to notify us of such changes and present information that is up-to-date respectively.

We reserve the right to forward any information submitted to us to the competent authorities on the basis of AML/CTF Act and other relevant legal requirements, should we have serious grounds to believe that the submitted information is associated with a case of fraud, money laundering, terrorism financing, or other financial crime acts. We may further disclose such information to the competent authorities to receive their evaluation, should we be unable to conclude with full certainty the user's affiliation with any of the above-mentioned acts.

3.3. Enhanced Compliance Due Diligence

Enhanced Compliance Due Diligence is applied to those users, whose risk profile has been effectively determined as high (for more information about determining the risk profiles of our customers, please check out our AML Policy and the information already provided by you not be sufficient to finalize Compliance Clearance. Therefore, we may require you to provide additional information about yourself and/or your business as well as organize meetings to further verify your identity and the nature of your business activities.

In addition, we apply Enhanced Compliance Due Diligence if you decide to increase your transaction limits.

3.4. Transaction Limits

Transaction Limits are limitations imposed on the capacity of every customer upon finalizing the Compliance Clearance to execute transactions at a certain volume per day. Transaction Limits are determined by a variety of factors, including but not limited to your risk profile, the nature and field of your business activities, the verification steps completed, payment method of choice, and other factors. You may decide to change your transaction limits at any moment: to raise the limits, please submit a written notice to us at https://cryptfinex.eu/ or via e-mail at contact@cryptfinex.eu.

Please note that in regards to the above-mentioned factors determining the Transaction Limits, we may require you to complete Enhanced Compliance Due Diligence. In such an event, we may inquire the additional information from you, which you agree to provide in a timely and accurate manner in full amount requested by us. We will notify you of the decision to raise your limits thereof based on the Enhanced Compliance Due Diligence. Please note that we reserve the right not to grant the request to raise the limits and that by submitting your information for Enhanced Compliance Due Diligence, you agree that we may subsequently lower your Transaction Limits without any preliminary request or notice. A decision to raise or lower your Transaction Limits is made at our sole discretion only and only on the basis of the assessment derived from the Enhanced Compliance Due Diligence procedure.

3.5. Account Closure

You have the right to close your Account at any time. Upon closure, you will be provided with instructions on transferring your Fiat and Virtual Currency funds available on your Account to other accounts under your control.

Please note that closing an Account may bear additional costs, including fees, expenses, and charges, for transferring your remaining Fiat or Virtual Currency funds out of the Account you are closing. You shall be solely responsible for handling the said costs and expenses. You further acknowledge that closing an Account on your own accord does not invalidate and/or annual the validity of any provisions of these Terms to which you were a subject prior to Account closure.

4. Breach of Agreement

4.1. Prohibited Use

All Orders, Trades, and Transactions must abide by the rules of bona fide, or genuine, transaction, as well as encouragement of competitiveness, fairness, and transparency of market and market participants' activities. The following section describes practices that are prohibited on FENTAX s.r.o. and therefore are taken into account when assessing an event of a Breach of these Terms and determining applicable Sanctions and Remedies. The followings acts and omissions are considered strictly prohibited on FENTAX s.r.o. Exchange and in regards to all our Services:

Unlawful activity, meaning any activity that violates any law, regulation, legal act, or other legal instrument adopted in the countries of FENTAX s.r.o. operation, including but not limited to laws of the Czech Republic and the regulatory regime supervised and enforced by the Czech Republic regulatory bodies in the field of business conduct, such as the Czech National Bank.

Gambling, or using our Exchange and Services to conduct and participate in such activities, as lotteries, games of chance, bidding fee auctions, sports bidding, sweepstakes, and other activities falling under the definition of gambling.

Fraud and other acts of fraudulent nature: this includes any act or attempt to commit such an act thereof that would inevitably deceive or trick any user, customer, or FENTAX s.r.o. in regards to any Transaction or Order;

Market Manipulation, or any Order or Transaction placed for the purposes of disrupting a regular working operation of our Exchange and causing inadequate volatility of Virtual Currency prices against their fair market value. This includes committing an act of Market Manipulation as well as engaging other parties in deliberate placing any Order or Transaction for the purposes of Market Manipulation;

Fictitious Trades, or placing Orders and Transactions the execution date of which are deliberately set in the far future, with an intent to correct or update such an Order or Transaction in regards to the correct exchange rate and settlement date, including wash trades;

Acts detrimental to Cybersecurity, including introducing automated means of interface not authorized and developed by us, imposing unreasonably large amounts of data in an attempt to overload, interfere with, intercept, or cause malfunction and failure of our hard and software and systems; attempts to gain access to a Customer's account without their authorization or knowledge; accessing and tampering with any Service that you are not authorized to access; infiltrating any malware or malicious code or software, such as viruses, Trojan, worms, developing and distributing third-party applications engaging with our object and/or source code and our Services, and other relevant acts falling under the subject matter of the Czech Republic Law on Cyber Security;

Simultaneous Buy and Sell Orders, or placing two or more buy and sell Orders by yourself or by prearranged agreement with any third party in order to attain their execution against each other and subsequently causing disruptive and non-competitive effects on the market;

Intellectual Property Infringement, including involvement in any use of transactions with the subjects of FENTAX s.r.o.'s intellectual property, such as those subject to copyrights, trademarks, trade secrets, without prior consent and authorization by FENTAX s.r.o. and in a manner that constitutes an infringement or violation of any intellectual property law or regulation of the country of FENTAX s.r.o. operation, including but not limited to the Czech Republic Law on Copyright and Related Rights;

Transactions for the purposes of passing money between accounts, as such Transactions shall be perceived as misleading or deceiving against the principle of bona fide, or genuine, transactions, and should not be executed;

Intimidation and Coordination, including such activities as coordinating prices, Trades, or trade reports with any third party; inquiring any third party to alter a price; engaging in any manner with other third parties and/or market participants in an attempt and for the purposes of disrupting, coercing, intimidating, manipulating, or otherwise tampering with another market participant's activities on the market.

The above-mentioned provisions shall apply to FENTAX s.r.o. Services at all times without exception.

FENTAX s.r.o. reserves the right to refrain from providing services and terminate any relationship immediately and without further notice with businesses falling under the definition of a Prohibited Business as provided in Annex 2 to these Terms. Please read Annex 2 carefully before applying for an Account.

5.2. Account Suspension and Termination

FENTAX s.r.o. may decide to suspend, restrict, or terminate your Account and limit your access to our Services in any event that falls under any of the following reasons (the list of which is non-exhaustive):

We believe that your acts may be damaging to or have resulted in consequences detrimental to our reputation; We are required to do so by a regulatory authority, court order, law enforcement order, or the act of any other competent authority; We have reasonable grounds to suspect you of breaching these Terms or other applicable agreements; We have reasonable grounds to believe a transaction or an order to be erroneous; We suspect unauthorized and/or fraudulent access to your Account or believe that your login credentials have been used to gain access to your Account without your consent and/or knowledge; We believe the security of your Account has been compromised; We have reasonable grounds to suspect money laundering, terrorist financing, fraud, or other financial crime; Your Account is subject to any ongoing/pending litigation, investigation, and/or legal proceedings; Your Account is believed to be subject to potential non-compliance and heightened risks regarding the regulatory norms and requirements; You have performed activities with the use of your Account that fall under any of the Prohibited Use activities as stated in Section 4.1, or your Account has been engaged in any Prohibited Businesses subject to Annex 2 to these Terms.

In an event of Account suspension or termination, any Transaction or Order will be placed on hold, canceled, or reversed. In addition, we reserve the right to deactivate your account taking effect immediately for any of the above-mentioned reasons.

FENTAX s.r.o. will issue the reasons specifying the reasons leading to a decision to suspend, restrict, or terminate your Account and, where appropriate, instructions on how to effectively correct or amend erroneous information or submit missing information and documents. In an event of canceling or withholding the execution of a Transaction or an Order, we will effectively lift these restrictions once the necessary deficiencies have been eliminated and your Account has been deemed no longer falling under any reasons for suspension or termination.

We reserve the right to suspend, restrict, or terminate your Account and restrict your access to and use of any of our Services without specifying reasons by giving you a one-month notice. You further acknowledge that non-disclosure of reasons for a suspension or termination decision may be based on internal confidential criteria that are classified as such for the purposes of maintaining security and ensuring compliance with the relevant legal requirements associated with risk mitigation and due diligence procedures. We refrain from disclosing such criteria to any unauthorized third party under any circumstances.

6. Liability

All events of our indemnification, warranty, limitations of losses, and limitations of liability are hereby excluded as per the applicable law to the fullest permitted extent if not specified otherwise herein. Neither these Terms nor other FENTAX s.r.o. agreements shall by any means exclude or limit liability which may not be limited or excluded under relevant law.

6.1. Release

You acknowledge and agree that if you wish to raise a dispute with any FENTAX s.r.o. user, neither we nor any of our partners, affiliates, service providers, officers, directors, employees, representatives, and other parties and persons affiliated with us shall be liable in any manner for claims, losses, actions, demands, costs, expenses, and damages associated with and resulting from said disputes. Any dispute of such nature shall be settled with the user or users whom it may concern notwithstanding any affiliation with our above-mentioned affiliates and us.

6.2. Indemnification

You agree to indemnify and hold harmless FENTAX s.r.o. as well as any of our partners, affiliates, service providers, officers, directors, employees, representatives, and other parties and persons affiliated with us from any and all claims, losses, actions, demands, costs, expenses, and damages resulting from the use of your Account by you or any other third party in regards to:

Use of our Site and Services; Breaches and violations of these Terms and other FENTAX s.r.o. agreements; Cancellation or termination of any transactions resulting in a negative balance; Feedback, comments, or submissions provided by you; Erroneous, false, incomplete, or misleading information provided to us for the purposes of identity verification and source of funds; Violation of laws and regulations, or rights of any third party.

6.3. Disclaimer of Warranties

FENTAX s.r.o. Services and Site are provided to you on an “as is” and “as available” basis, with no promises, representations, and warranties given regarding the said basis, whether express, implied, or statutory. We do not give any warranties of title, merchantability, data accuracy, system integration, quiet enjoyment, fitness for a particular purpose, and/or non-infringement. We do not make any promises, representations, and warranties that access to our Services and Site shall be continuous, uninterrupted, timely, or error-free.

We shall publish and make available any information, materials, views, opinions, projections, or estimates for informational purposes only, and the said purpose is subject to change without prior notice. Any decision, act, or omission thereof undertaken by you shall be made based on your assessment of relevance, timeliness, accuracy, adequacy, completeness, reliability, and value of information, materials, views, opinions, projections, or estimates provided to you on the Site and via our Services. Subsequently, we shall hold no liability over any damage or loss arising directly or indirectly as a result of your use of any information, materials, views, opinions, projections, or estimates provided to you on the Site and via our Services.

None of our Services and information provided on our Site shall be perceived as investment, financial, regulatory, tax, or legal advice and you should seek any of the said advice at your discretion and independently from the professionals with relevant qualifications and/or licenses. Any decision regarding the use of our Site and Services made without the aid of the relevant advisor shall be your responsibility.

Furthermore, we make no promises, representations, and warranties regarding the amount of time required to process transactions involving Virtual Currency wallets, bank accounts, credit and debit cards, and electronic money wallets as factors affecting the timeliness and processing of such transactions lie outside of the scope of our direct control. Therefore, even though we direct our best effort to ensure the timely execution of transactions, we do not guarantee nor warrant any periods related to the execution of transactions via the above-mentioned means.

You agree and acknowledge that any statement relied upon by you regarding the above-mentioned notions is derived directly from the provisions of these Terms unless explicitly specified otherwise.

6.4. Disclaimer of Liability

In no event and under no circumstances shall FENTAX s.r.o., its affiliates, service providers, officers, directors, employees, representatives, and other parties and persons affiliated with it be liable in any form or manner, in contract, tort, negligence, strict liability, or otherwise for any punitive, special, indirect, consequential, incidental, or similar damages, even in an event of prior notification of such a possibility arising thereof, in connection with these Terms of Services or any other agreement, your use, including attempted use, of our Site, Services, information, materials, views, opinions, projections, or estimates provided by us, except to the extent stipulated by law.

Moreover, in no event and under no circumstances shall FENTAX s.r.o., its affiliates, service providers, officers, directors, employees, representatives, and other parties and persons affiliated with it be liable in any form or manner, in contract, tort, negligence, strict liability, or otherwise for any direct damages, even in an event of prior notification of such a possibility arising thereof, in connection with these Terms of Services or any other agreement, your use, including attempted use, of our Site, Services, information, materials, views, opinions, projections, or estimates provided by us, except to the extent stipulated by law.

You fully acknowledge and agree that you may not recover for lost or unrealized profits, business opportunities, unintended and unforeseeable financial losses, and other punitive, special, indirect, consequential, or incidental damages.

In no event and under no circumstances shall we be obliged to award you any count of virtual currency as compensation for damages, nor shall we be required to offer it to you as a remedy.

Moreover, this limitation of liability concerns and applies to, in conjunction with the above-mentioned statements herein, damages, interruptions, and errors caused by computer viruses, malicious software, spyware, scamware, Trojan horses, worms, or any other malicious software or malware that may affect the operational state of your hard- and software and their security. Similarly, we shall not be liable for any phishing, spoofing, domain typosquatting, network forks, replay attacks, double-spend attacks, Sybil attacks, 51% attacks, mining difficulties, failure or malfunction of any communication, electronic and mechanical equipment, telephone, or other interconnection devices, changes in cryptography or consensus rules, branching of cybersecurity, and hacking, and other relevant events, including force-majeure events. Additionally, we shall not be liable for any damages to you arising from the amendments, introductions, entering into force, repealing, or otherwise altering legislation, regulations, policies, and laws in force at any given time or date.

This disclaimer of liability shall supersede, notwithstanding the validity and conflict of and between any other section, provision, or statement of these Terms thereof.

7. Personal Data Protection

We collect, use, and share your personal information in accordance with our obligations and legal requirements laid down by the European General Data Protection Regulation (the “GDPR”). To learn more about how we collect, use, store, share, and transfer your data as well as your rights as a data subject, please visit our Privacy Policy, which shall be incorporated into these Terms and shall be perceived in connection with other provisions of these Terms.

8. Security

8.1. Security Data

You agree and acknowledge that the security of your login details and credentials, including but not limited to passwords, private and public keys, identifiers, passphrases, backup data, and other relevant data, is your sole responsibility. You must ensure adequate, constant, and safe maintenance and control over your security details at all times to prevent unauthorized access and use of your security data, its loss, modification, alteration, theft, and breach. You shall implement reasonable means to ensure the security of your data, which include but are not limited to the following methods:

Creating passwords of sufficient complexity and character length and storing them in an encrypted, protected manner, such as password managers and external devices; Preventing misuse, theft, and loss of your electronic devices, ensuring that any data related to your Account that is stored on any such device is backed up on external data storage devices and protected by encryption; Implementing means of two-factor authentication (the “2FA”) and/or biometric authentication; Preventing and avoiding any remote access to your devices when you are logged on to your Account; Reviewing and double-checking all transactions and actions required for their execution; Avoiding disclosure, visibility, and transfer of any security data related to your Account, including passwords, keys, identifiers, payment methods, bank account and card details, and other relevant data; Checking Virtual Currency addresses of intended recipients of your transactions and avoiding transfers of funds to addresses of address owners, the identity of which may not be verified by you to a reasonable degree; Checking every request to send and/or receive funds, send and/or reveal any security data element, or share any information related to your Account that you receive from us or any other third party. Please note that we will never ask you to reveal any of the above-mentioned security data, nor shall we ever ask you to transfer any Virtual or Fiat Currency funds to us in any form or any of our addresses, except in a manner and by means compliant with and permissible by applicable law.

8.2. Reporting Security Breach

If you suspect that your Account or security data have been compromised or breached, or you have become aware of any event involving your Account and/or affecting you and/or us (including cyber-security attacks), you must notify us immediately by writing an e-mail to: contact@cryptfinex.eu.

9. Complaints and Dispute Resolution

9.1. Governing Law

These Terms, your rights and obligations, as well as all actions arising out of and related to these Terms, shall be governed by the laws of the Czech Republic, applicable to these Terms in their entirety.

9.2. Complaints Filed with Us

If you have a complaint and wish to resolve a dispute arising out of it, you shall address it with our support team in the first instance before attempting to settle any dispute by means described in the next subsections of these Terms. Please note that a competent authority referred to in the next subsections may dismiss your action on the basis of your failure to settle a dispute by contacting us directly in the first place. You may challenge your complaint by contacting FENTAX s.r.o. Customer Support.

You shall contact our Customer Support by sending an e-mail to contact@cryptfinex.eu. In your message, you shall indicate the points of issue, elaborating on details of your claim as precisely as possible, and present evidence supporting your claims in a form of visual (photo/video) and/or audio materials. A Customer Support specialist will respond to your message in a timely manner but no later than within 14 days from the day of the submission of a complaint. The Customer Support specialist shall then provide you with the following remedies:

Supporting your claims and remedies proposed by you and providing their aid in obtaining said remedies; Rejecting your claim and identifying reasons for rejection; Proposing alternative remedies for dispute resolution.

In an event of an inability to contact you within the indicated notice period of 14 days, we shall notify you of the reasons for a delay and specifying the deadline by which our Customer Support specialist must contact you. The maximum period allowed for replying to your complaint shall not be longer than 30 days from the day of submitting a claim.

9.3. Alternative Dispute Resolution

You may opt to settle a dispute by alternative dispute resolution means, including mediation and arbitration, if you are unable to settle a dispute with the Customer Support, or you are not satisfied with the remedies proposed to you as a result of your prior communication with our Customer Support.

9.3.1. Mediation

Any dispute between the parties relating to or arising from this contract may be submitted to a procedure of mediation conducted by a sole mediator, appointed and proceeding in accordance with the Mediation Rules of this body by the local branch – if any – of the Mediation Centre for Europe, the Mediterranean, and the Middle East having its seat in Strasbourg, which Rules are in force at the date of filing of the application for mediation.

In the event of the mediation proceedings not taking place or being unsuccessful, any dispute arising from said relationships between the parties shall be determined in accordance with the Arbitration Rules and the Internal Rules of the European Court of Arbitration – being part of the European Centre of Arbitration having its seat in Strasbourg (in force at the time the application for arbitration is filed), with the right to appeal – unless forbidden by the applicable procedural law – including for the wrong choice of the substantive law and or for errors of substantive law and errors of fact, by way of rehearing by an appellate arbitral tribunal (if so allowed by the applicable procedural law), of which adoption of this clause constitutes acceptance.

9.3.2. Arbitration

By applying for arbitration proceedings, you agree and acknowledge that you willingly waive your right to resolve any dispute, whether existing or future, through litigation. You may, however, initiate court proceedings in the country of the seat of the arbitration to rule the appointed arbitration award invalid and unenforceable.

The arbitration proceedings will be conducted according to the provisions of the said Terms by a sole arbitrator who will be appointed, if the dispute is domestic, by the local Chapter – if any – of the European Court of Arbitration and in the absence of a local Chapter, as well as to all non-domestic disputes, by the Central Registrar in Strasbourg. The language of proceeding shall be English.

The parties undertake to keep, and to cause their Counsel, advisors, managers, employees, and agents to keep strictly confidential the dispute, the facts, the documents, the evidence, and the award.

The parties agree to conduct and to cause their Counsel to conduct themselves in a manner that limits the duration of the proceedings to nine months and to avoid the production of documents and the calling of witnesses who are unnecessary or irrelevant, restraining motion practices, avoiding delays, vexatious or repetitive conduct, and in general any overlawyering and accepting to pay to the other parties all legal costs caused by a breach of such commitment, even in case of final success in the dispute.

Each party further undertakes to promptly reimburse the other parties which should pay its share of any advance requested by the European Court of Arbitration or by its local competent Chapter – if any – for the proceedings and to recognize that the other parties shall be entitled to an ex parte summary judgment, or other summary proceedings, against it for such repayment.

The parties request the arbitrator to issue as soon as possible an interim award for the part of a claim or cross-claim which is undisputed or manifestly grounded.

9.4. Dispute Resolution in Court

In an event of inability to settle a dispute in any manner described in the above-mentioned Sections 9.2—9.3, you have a right to initiate legal action or proceedings in the exclusive jurisdiction and venue of District Court of Prague located in Prague, Czech Republic. You further agree not to initiate any such legal action or proceedings in any other jurisdiction and before any other court.

10. General Provisions

10.1 Intellectual Property

All intellectual property rights in regards to materials and content presented in connection with FENTAX s.r.o. are subject to and enjoy protection under applicable intellectual property regulations. Material and content protected by intellectual property rights cannot and shall not be licensed to any third party under any implied license unless specified otherwise. All materials and content subject to intellectual property rights may be used in a personal, lawful, and non-commercial manner only and only in connection with your use of our Services and Site. You agree and acknowledge that any use of our materials and content in any other manner constitutes intellectual property rights infringement and may enable us to initiate appropriate legal action.

You further acknowledge and agree that the distribution and sharing of our materials and content on any third-party websites, file hostings, and similar services are strictly prohibited. Furthermore, FENTAX s.r.o. prohibits the reproduction, display, public performance, distribution, and use of our materials and content for any public and commercial purposes. Any copying and sharing of our materials and content shall be done by requesting prior permission from FENTAX s.r.o. and only by obtaining a written notice permitting you to do so. You further agree to retain any watermark, copyright signs, and other relevant copyrights and proprietary notices associated with said materials as originally provided. Modification, alteration, and selling of our materials and content are prohibited.

10.2 Access and Availability

Please note that access to and availability of our website may be affected by events outside of our scope of control, such as volatility. In such an event, or any other event affecting access and availability of FENTAX s.r.o. website, you may experience an inability to access your Account and our website and/or place, perform, or execute Orders and Transactions. FENTAX s.r.o. does not guarantee or warrant flawless and uninterrupted access to and availability of our Services and Site at all times, as well as uninterrupted placement, execution, and finalization of Orders and Transactions. Even though our customer support aims at providing you with timely and efficient responses within reasonable and adequate periods, we do not warrant nor guarantee the said timeliness. Under no circumstances shall we be liable for any damages arising from the events affecting access and availability of our Services and Site.

10.3. Third Party Services

You may encounter content, links to web pages, and services as well as other relevant services and information provided to you by third parties while using our Site and Services. Please note that we shall not be liable for any content provided to you by third parties, nor do we have any control, direct or indirect, over the quality, quantity, and subject matter of the said content. In an event of raising concerns over the quality, quantity, and/or subject matter of third-party content, you agree to address said concerns to the respective third party and any dispute arising thereof shall be settled without our participation between you and the third party in question.