Terms and conditions for the provision of services and digital content

This agreement was written in English. To the extent that any translated version of this agreement conflicts with the English version, the English version prevails.

Date of last revision: 5th March 2019

YOUR PARTICULAR ATTENTION IS DRAWN TO CLAUSES 3, 4, 5, AND 29 OF THESE TERMS AND CONDITIONS.


1. These terms

1.1. What these terms cover. These are the terms and conditions on which we supply products or services to you, whether these are services or any form of digital content for the purposes of using ETN tokens.

1.2. What these terms do not cover. These terms and conditions do not cover:

1.2.1. ETN tokens themselves or their use other than in connection with the Services and Digital Content; or

1.2.2. Your use of Electroneum’s website (including the services made available through it, including the offline wallet generator).

1.3. Why you should read them. Please read these terms carefully before you use our products, Services or Digital Content. These terms tell you who we are, how we will provide products, Services or Digital Content to you, how you and we may change or end the contract and other important information.


2. Information about ETN

2.1. What is ETN? Electroneum has created a cryptocurrency called “ETN”:

2.1.1. ETN is a type of cryptoasset, a cryptographically stored representation of value which uses distributed ledger technology and which can be transferred, stored or traded electronically.

2.1.2. More specifically, ETN is an exchange token: it is not issued or backed by any central authority and is intended to function as method of payment.

2.1.3. ETN tokens do not provide their holders with particular interests in any business, nor do they provide rights such as asset ownership, repayment of a specific sum of money or entitlement to a share in future profits.

2.1.4. Other than insofar as they can be used as a means of exchange, ETN tokens are not redeemable for access to any specific goods or services.

2.1.5. ETN tokens do not represent tangible or physical assets that exist outside of the Electroneum blockchain.


3. By using the services or digital content you accept these terms

3.1. By using the Services or Digital Content, you confirm that you accept these terms and that you agree to comply with them. If you do not agree to these terms, you must not use the Services or Digital Content.

3.2. You accept and acknowledge that where we make additional functionality available to you through the App (for example the purchase of third party goods, services or digital content) additional terms and/or charges shall also apply, including terms required by third party providers. It is a condition of your use of such functionality that you read and accept such third party terms and/or charges and you acknowledge that we have no liability to you in respect of such third party goods, services or digital content which are only made available to you through the App for convenience.


4. Anti money-laundering and terrorist financing

4.1. Pursuant to our obligations under global anti-money laundering and counter-terrorist financing legislation, we are required to undertake due diligence, source of funds and “know your client” checks on users of the Services and Digital Content. We may use third party providers to assist us with these due diligence checks.

4.2. We will employ various levels of due diligence as may be required by legislation in force from time to time and based on the jurisdiction in which you access the Services and Digital Content and on the value of ETN you propose to hold or transfer.

4.3. The limits which affect the levels of due diligence we must perform are set out in the table below. Tier 1, Tier 2 and Tier 3 relate to the levels of due diligence and the types of information we may request from you, with Tier 1 requiring only basic information (such as email address and telephone number) and Tier 3 requiring full due diligence. The values of Balance Limit A, Balance Limit B and Balance Limit C, and the types of information we require from you in respect of Tier 1, Tier 2 and Tier 3 can be found on Electroneum’s website. We may amend this table from time to time and we will notify you when we do.

Value of current balance of ETN in your Online or Offline Wallets plus the cumulative value received by you in the preceding 3 months. Tier 1 Tier 2 Tier 3
Balance Limit A X
Balance Limit B X X
Balance Limit C X X X

4.4 If you wish to access certain functionality within the Services, Digital Content or our network, or where the ETN balance held in your Online or Offline Wallets falls within the limits in the table set out in clause 4.3, we may require additional disclosures of information from you. The information we request may include personal information, including, but not limited to, your name, postal address, e-mail address, telephone number, date of birth, country of origin, tax identification number, government issues identification number, and bank account information and in certain circumstances proof of source of funds.

4.5. You must comply with our due diligence requirements in order to continue using the Services and Digital Content. If you fail to do so we may withdraw or suspend your right to use the Services or Digital Content without further liability to you.


5. High risk countries

If it appears that you are accessing or attempting to access the Services and Digital Content from a country which is, from time to time, designated as a “high-risk third country” by the European Commission or as a “high risk and other monitored jurisdiction” by the Financial Action Task Force (FATF), we may temporarily or permanently withdraw your right to use the Services and Digital Content (or any part of them) without liability to you.


6. ETN and blockchain technology

6.1. ETN is a type of cryptoasset, more particularly described in clause 2.1 above.

6.2. The services we provide operate using distributed ledger technology, also known as ‘blockchain’.

6.3. ETN’s blockchain is a public ledger of transactions and when you transact with third parties using ETN, users of the ETN blockchain independently verify the validity of your transactions. In doing so the data relating to your transactions, including your public key, is shared with each user of the ETN blockchain.

6.4. We do not control the ongoing state of ETN’s blockchain as this is determined by the transactions made between users. Although we facilitate the processing of these transactions through the use of our Services and Digital Content, we are in no way a party to them.

6.5. As a company, we do not store, sell, send or receive ETN on behalf of users. Our services facilitate the sending and receiving of ETN between users. We are not responsible (and shall have no liability to you) for issues including (but not limited to) slow network speeds and technical errors within the operation of the ETN blockchain or any node run or maintained by ETN users.


7. ETN transactions

7.1. Due to the nature of ETN blockchain, ETN transactions cannot be reversed or cancelled. We will not be responsible for any loss or damage suffered by you for transactions executed by you or any third party including (but not limited to):

7.1.1. sending ETN to the incorrect recipient;

7.1.2. sending a recipient the incorrect amount of ETN in respect of any transaction;

7.1.3. failing to include a payment ID with a transaction; or

7.1.4. the time take to transmit or receive ETN (because the speed and operation of the network is outside of our control); or

7.1.5. any other error.

7.2. Where you avail yourself of additional functionality as set out in 3.2 above, for example the purchase of third party goods, services or digital content, you irrevocably instruct us to send and receive transfers of ETN through your Online Wallet on your behalf for the purposes of meeting your obligations under those transactions and you acknowledge and accept that we have no liability to you in respect of such transactions and that you are primarily responsible for any additional terms and/or charges imposed by such third party providers of goods, services or digital content and you shall hold us harmless in respect of the same.


8. Transfer (TX) fees

8.1. Please note that we may apply the TX Fees set out below to any transfer (including the import of ETN from any offline wallet to any online wallet) of ETN, regardless of whether:

8.1.1. the wallet was developed by us;

8.1.2. whether the wallet is an online wallet, an offline wallet or any other type of wallet; or

8.1.3. whether the sending and receiving wallets are controlled by the same or different users.

8.2. Each transfer of ETN is subject to a TX Fee which is set at a minimum of 0.1 ETN (“Minimum TX Fee”). The TX Fee is based on many factors including the number of blockchain inputs, speed of desired TX on Electroneum’s blockchain and the number of splits required to create a TX of the required size.

8.3. To cover the TX Fee, we will deduct an “Automatic Handling Fee” from the sending user’s wallet when the sender initiates a transfer. The Group will then refund any unused part of the Automatic Handling Fee once it has calculated the TX Fee and the receiving user confirms that it has received the transferred ETN.

8.4. The Automatic Handling Fee is currently 5 ETN. We may change the Minimum TX Fee or the Automatic Handling Fee at any time and will communicate changes to users via Electroneum’s website before doing so.

8.5. Transfers of ETN will be subject to the sending user having sufficient funds in their wallet to meet the Automatic Handling Fee in addition to the amount of ETN you wish to transfer.


9. Minimum withdrawal limit

Although some cryptocurrency exchanges may support trading prices up to 6 decimal places, our Services and Digital Content do not permit you to withdraw or transfer less than 0.01 ETN in any single transaction. This is subject also to the Automatic Handling Fee and Minimum TX Fee set out in clause 8.


10. Instant payment system

10.1. “Instant Payment System” is a payment mechanism through the App which enables you to transfer ETN from your Online Wallet to another user’s Online Wallet and you will be notified instantly that the transfer will take place (“Instant Payment”). The Instant Payment System can only be used between Online Wallets developed by Electroneum and cannot be used when transferring ETN to an offline wallet or to a third party wallet (e.g. to an exchange).

10.2. To make an Instant Payment, the intended recipient of the ETN must use the App to display a QR Code which identifies the recipients Online Wallet and the amount of ETN to be transferred. When the sender scans the QR Code using the App they will be asked to confirm they want to proceed with the transfer. Confirmation by the sender that they want to proceed with the transfer is their irrevocable instruction and confirmation and acceptance to us by the sender and recipient that:

10.2.1. the sender’s Online Wallet can be automatically checked to confirm there is sufficient ETN in the Online Wallet;

10.2.2. the amount of ETN to be transferred by the sender will be locked meaning the sender will be unable to reverse or cancel the transfer; and

10.2.3. the sending of the ETN can be initiated.

10.3. If the sender does not have sufficient ETN in their Online Wallet (see clause 8), the Instant Payment will fail.

10.4. The Instant Payment System does not facilitate the instant transfer of ETN. Instead, it is an irrevocable notification that the transaction will ultimately be submitted to the blockchain.

10.5. When you make an Instant Payment, we will share your email address with the recipient of the ETN to facilitate the payment and to help the recipient to resolve any potential disputes.

10.6. If you are a vendor using the Instant Payment System to receive payment in return for goods and/or services offered by you, you agree to make available (and keep up-to-date) from time to time certain details about your business which will be listed in an information directory created and maintained by us (Vendor Directory).

10.7. We have no liability to the sender or the recipient using the Instant Payment functionality.

10.8. Each Instant Payment is subject to the payment of a transfer fee in addition to the fees set out in clause 8 above.


11. Trading considerations

11.1 ETN is traded on cryptocurrency exchanges worldwide. We do not trade ETN; we provide facilities by which ETN may be sent and received as between users.

11.2. There are many factors that you should consider before trading ETN, for example the prospects of price fluctuation, risk to your capital and market illiquidity. Past performance is not an indication of future performance and the value of ETN may go down as well as up.

11.3. Your use of ETN on a cryptocurrency exchange will be subject to that exchange’s terms of service, which is out of our control.

11.4. Although ETN is listed on several cryptocurrency exchanges, we are in no way affiliated with any exchange.

11.5. We shall be in no way liable for any loss or damage you may incur as a result of your use of cryptocurrency exchanges or engaging in trading ETN.


12. Regulatory status

12.1. ETN is not an investment product or other type of financial instrument which is currently directly regulated in England and Wales by bodies such as the Financial Conduct Authority.

12.2. Electroneum Group itself does not carry out (nor has it ever carried out) any financial services activity currently directly regulated in England and Wales by bodies such as the Financial Conduct Authority.

12.3. There is currently no direct regulator of exchange token cryptoassets within England and Wales. Consequently users of ETN tokens or the Services and Digital Content do not benefit from protections such as the Financial Services Compensation Scheme or the Financial Ombudsman Service. We do not warrant, represent or guarantee that your use of ETN tokens, the Services or the Digital Content is appropriate for use or available in your territory. You are responsible for ascertaining and monitoring the legal status of ETN tokens, the Services and Digital Content in your territory and you do this at your own risk.

12.4. To the extent that such laws are adopted from time to time, we will comply with all relevant laws in England and Wales which apply to cryptoassets.


13. Taxation

13.1. We make no representation as to the tax status of your use of the Services or Digital Content.

13.2. You are solely responsible for determining your tax liability in relation to your use of the Services and Digital Content and must take your own tax and other professional advice in your territory.


14. Information provided by us

14.1. The information provided by us (other than specific technical information) is:

14.1.1. provided in good faith and for general information only. Whilst we take reasonable steps to ensure that it is correct, but we cannot guarantee that it is the most up-to-date information at all times; and

14.1.1. provided in good faith and for general information only. Whilst we take reasonable steps to ensure that it is correct, but we cannot guarantee that it is the most up-to-date information at all times; and


15. User restrictions

The Services and Digital Content are directed at users aged 18 or older only. Where we have reason to believe you are under the age of 18, we reserve the right to take any of the actions described in clause 31 below.


16. You must keep your account details safe

16.1. When you use the Online Wallet or App, you will be asked to provide a password and pin number. You must keep your password, pin number and all other information provided as part of our security procedures safe and confidential. You must not disclose this information to any third party.

16.2. You must use a unique password and pin number which you do not use for any other service, product or digital content.

16.3. You are responsible for ensuring and maintaining the security of any device on which you use or access the Services or Digital Content.

16.4. If you know or suspect that anyone other than you knows your user identification code or password, you must promptly notify us at https://support.electroneum.com.


17. Our wallet ID

For security and technical operational purposes, we may in exceptional circumstances need to change your wallet ID. Where we need to do so we will provide you with reasonable notice and you agree to provide us with all reasonable information and assistance in making such changes.


18. Unsolicited transfers to us

18.1. Where unsolicited transfers of ETN or any other cryptocurrency are made to any Online Wallet or wallet owned or operated by us, we are under no obligation or duty to return such ETN or other cryptocurrency and such funds may be retained, suspended or isolated in some other way at our discretion, pending investigation and/or resolution of the underlying reasons for that unsolicited transfer.

18.2. Where we have reason to believe that an unsolicited transfer of cryptocurrency may involve an attempt to conduct unlawful activities, we will report such transfers to the relevant legal, regulatory or enforcement authorities. We will co-operate with those authorities during any subsequent investigation or prosecution.


19. Private key and wallet security

19.1. ETN can be stored in Online Wallets, offline wallets and in other types of wallet not developed or provided by us. You can access your Online Wallet via the App or Electroneum’s website.

19.2. You:

19.2.1. must keep your private keys safe at all times and must not disclose or transfer (or permit to be disclosed or transferred) such keys to any third party than in the course of transferring ETN into an Online Wallet;

19.3. We keep the private keys for your Online Wallet. We endeavour to make all reasonable efforts to maintain the security of your Online Wallet private keys by taking precautions including (but not limited to):

19.3.1. encryption of your private spend key within our database;

19.3.2. encryption of the file system on which your encrypted private keys’ access codes are stored; and

19.3.3. firewalling of the access to the encrypted file storage in which your encrypted private keys’ access codes are stored.

19.4. We cannot warrant, represent or guarantee the security of your Online Wallet or use of the App. If any third party gains access to your private keys, your ETN may never be recovered.

19.5. You must comply with the “Best Practice” guidance set out on our website (as amended from time to time).


20. In-App Mining

20.1. The App provides access to the in-app mining function through which ETN may be periodically added to your pending balance whilst the App remains running on your mobile phone and connected to https://electroneum.com. This includes Mobile Mining, Cloud Mining or any other similar activity as prescribed by us from time to time (”In-App Miner”).

20.2. You must:

20.2.1. only use the In-App Miner on mobile phones and not on any other device;

20.2.2. only use the In-App Miner on one mobile phone per Online Wallet which you hold with us (and we only permit one Online Wallet per individual user);

20.2.3. not emulate the In-App Miner on any device regardless of whether physical or virtual;

20.2.4. not adapt, reverse engineer, decompile, disassemble, or modify the In-App Miner; and

20.2.5. only use the In-App Miner for lawful purposes.

20.3. Any breach of clause 20.2 shall entitle us to permanently disable your access to the In-App Miner without further notice to you.

20.4. You are responsible for ensuring that your mobile phone meets the minimum system requirements set out at clause 26.

20.5. In order to benefit from use of the In-App Miner you must comply with any guidance which Electroneum provides from time to time. Your mobile phone may be required to connect to the internet and the App must be running on it. You must monitor your use of the App and we shall not be liable in any way for any loss, damage, expense or liability you may incur (including mobile data or other charges) as a result of your use of the App.

20.6. The amount of any payment of ETN made by us to you, the payment threshold and rate at which ETN may be added to your pending balance as a result of your use of the In-App Miner, are subject to change and determined by us at our absolute discretion. We offer no representation, warranty or guarantee as to the amount of ETN which may be generated through your use of the In-App Miner.

20.7. We make no warranty, representation or guarantee as to the regulatory or tax status regarding your access and use of the In-App Miner including receipt of ETN from us as a result of use of the In-App Miner: please refer to clauses 12 and 13 of these terms.


21. Selfie authentication for In-App Miner use

21.1. In order use the In-App Miner you may be required to submit self-taken images (“Selfies”) via the App. This is a method by which we verify that you are not a bot.

21.2. If you are required to submit Selfies to us, you must not send any image or other materials which we deem to be contrary to these terms and conditions (“Non-Compliant Materials”). Non-Compliant Materials includes (without limitation) images which:

21.3. If you do submit any Non-Compliant Materials to us, we may take such action as we deem appropriate as further detailed in clause 31.

21.4. Any Selfies submitted to us will be used in accordance with our Privacy and Cookies Policy.

21.5. We may provide further guidance on the submission of self-taken images from time to time and you must comply with this guidance. Please visit https://electroneum.com/ for more information.


22. Digital content downloads

22.1. We make the Digital Content available for use and download from our website (https://electroneum.com) which links to the Google Play Store and Apple App Store (“Approved Marketplaces”). You must only use the Services or download the Digital Content via Electroneum’s website link to the Approved Marketplaces.

22.2. All Digital Content made available by us on Approved Marketplaces is described as being developed by us. If you wish to download the Digital Content, you should do so only after following links contained on our official website. We do not endorse and are in no way affiliated with any other platforms or software which purport to provide access to, or integrate with, the Services or Digital Content.

22.3. Whilst we make reasonable efforts to get taken down from the Approved Marketplaces or elsewhere any malicious fake, scam or cloned mobile applications, software, websites or other content which purports to be affiliated with us, we shall be in no way liable for any loss or damage you may incur as a result of your use or download of such mobile applications.


23. Licence

23.1. In return for your agreeing to comply with these terms you may:

23.1.1. access and use any of the Digital Content on a non-exclusive, non-transferable basis without the right to grant sub-licences; and

23.1.2. use the Services for your own use but not on behalf of any third party, regardless of whether this use is for commercial gain or otherwise.


24. Licence restrictions

The licence granted under clause 24 above are subject to the following restrictions:

24.1. Your use of the Digital Content is restricted to use in object code form only.

24.2. You may make copies of the Digital Content for back-up purposes.

24.3. Except as stated in clause 24.2 above or otherwise permitted by law in your jurisdiction, you have no right (and must not permit any third party) to copy, adapt, reverse engineer, decompile, disassemble, modify, adapt, run emulations of, or make error corrections to the Digital Content in whole or in part except to the extent that any reduction of the Digital Content to human readable form (whether by reverse engineering, decompilation or disassembly) is necessary for your lawful use of the Digital Content.

24.4. You must not use the App or the In-App Miner on any device other than a mobile phone.

24.5. We only permit one Online Wallet per individual user. You must not register, or attempt to register, for more than one Online Wallet.


25. New releases and updates

25.1. We may provide to you free supplementary software code or updates of the Digital Content. If we do so, you must install all such supplementary software code or updates promptly upon release. We cannot ensure the integrity and correct functionality of the Services and Digital Content if you fail to do this.

25.2. We only support the current version of the Digital Content. If we make supplementary software code or updates available to you in order to address security or other issues which we (at our absolute discretion) deem necessary, you must install such supplementary software code or updates.

25.3. If you choose not to install such supplementary software code or updates you will not be able to continue using the Services or the Digital Content via the App due to the security risks posed by the use of out-of-date software. You should still be able to access the Services through my.electroneum.com.

25.4. We plan to upgrade our network at least twice per year and may do so more regularly in certain circumstances. Where we do upgrade our network, we will communicate instructions on what users must do to implement updates via our website.


26. System requirements

26.1. You are responsible for ensuring that your phone / device meets the minimum operating requirements for the Digital Content. Please refer to the Best Practice guidance set out on our website.


27. Our obligations to you

27.1. The Services and Digital Content are provided to you on an “as is” basis. You accept responsibility for selection of the Services and Digital Content to achieve your intended results and acknowledge that the Services and Digital Content have not been developed to meet your individual requirements.

27.2. Due to the nature of software, we cannot warrant that your use of the Services or Digital Content will be uninterrupted or error-free. Whilst we take all reasonable precautions to ensure that the Services and Digital Content are secure, we cannot guarantee that the Services and Digital Content are immune from various forms of attack by malicious third parties.

27.3. During periods of high demand users may experience transaction delays or (in a minority of circumstances) failures. You acknowledge that the Services or the Digital Content may be subject to limitations, delays and other problems inherent in the use of blockchain technology and internet communications facilities.

27.4. We may limit or restrict your access to the Services or Digital Content:

27.4.1. in order to perform maintenance, updates or improvements;

27.4.2. subject to ETN balance limits and anti-money laundering due diligence checks in accordance with clause 4; or

27.4.3. otherwise in accordance with legislation in force from time to time.

27.5. To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to these terms, the Services or the Digital Content, whether express or implied.


28. Prohibited uses

28.1. You must use the Services and Digital Content only for lawful purposes. You must not use the Services or Digital Content:

28.1.1. In any way that breaches any applicable local, national or international law or regulation.

28.1.2. In any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect.

28.1.3. For the purpose of harming or attempting to harm any one in any way.

28.1.4. To transmit, or procure the sending of, any unsolicited or unauthorised advertising or promotional material or any other form of similar solicitation (spam).

28.1.5. To knowingly transmit any data, send or upload any material that contains viruses, Trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware.

28.1.6. To attempt to multiple spend ETN (or ETN greater than the balance in your Online Wallet) or any other cryptocurrency.

28.1.7. Otherwise than in accordance with generally accepted cryptocurrency industry good practice.

28.2. You also agree not to access without authority, interfere with, damage or disrupt:

28.2.1. any equipment or network on which the Services or Digital Content are stored or installed;

28.2.2. any software used in the provision of the Services or Digital Content; or

28.2.3. any equipment or network or software owned or used by any third party.

28.3. Where your use of the Services and Digital Content is unlawful we will report such activities to the relevant legal, regulatory or enforcement authorities. We will co-operate with those authorities during any subsequent investigation or prosecution.


29. Our liability to you

29.1. We provide Services and Digital Content which facilitate the use of ETN. We do not represent, investigate, or contract on behalf of users. As such, by entering into a transaction with another user via the Services or Digital Content you agree that we are not responsible for and shall not be liable to you, or to any third party, in relation to a transaction, or for any acts or omissions of other users of the Services or Digital Content. You must conduct your own due diligence and enquiries before entering into any transaction with another user.

29.2. Nothing in these terms shall limit or exclude our liability for:

29.2.1. death or personal injury caused by our negligence, or the negligence of our employees, agents or subcontractors (as applicable);

29.2.2. fraud or fraudulent misrepresentation; or

29.2.3. any matter in respect of which it would be unlawful for us to exclude or restrict liability.

29.3. Except to the extent expressly stated in these terms, all terms implied by statute, common law or otherwise are excluded, including implied conditions, warranties or other terms as to satisfactory quality, fitness for purpose or the use of reasonable skill and care.

29.4. Subject to clause 29.2: we shall not be liable to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with your use of the Services or Digital Content.

29.5. Where there is any dispute between you and another user, we may (in our absolute discretion) provide such assistance to you as we consider to be reasonable in the circumstances, but we will not be responsible for resolving or mediating such dispute. Any such disputes must be taken up by you with the relevant user who is directly responsible to you for such matters.

29.6. We assume no general or specific of care duty (whether fiduciary or otherwise) towards you except as specifically set out in these terms and conditions.


30. Intellectual property rights

30.1. In this clause, “Intellectual Property Rights” means all patents, utility models, rights to inventions, copyright and related rights, trade marks and service marks, trade names and domain names, rights in get-up, goodwill and the right to sue for passing off or unfair competition, rights in designs, rights in computer software, database rights, rights to preserve the confidentiality of information (including know-how and trade secrets and any other intellectual property rights, including all applications for (and rights to apply for and be granted), renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist, now or in the future, in any part of the world.

30.2. You acknowledge that all Intellectual Property Rights in the Services and Digital Content, supplementary software code or updates to it belong and shall belong to the Group, and you shall have no rights in or to the Services and Digital Content other than the right to use them in accordance with these terms.


31. Term and termination

31.1. These terms (as updated from time to time) apply for as long as you use the Services or the Digital Content.

31.2. When we consider that a breach of these terms has occurred, we may take such action as we deem appropriate. Failure to comply with these terms of use may result in our taking all or any of the following actions:

31.2.1. Immediate, temporary or permanent withdrawal of your right to use the Services and Digital Content (or any part of them).

31.2.2. Issue of a warning to you.

31.2.3. Legal proceedings against you for reimbursement of all costs on an indemnity basis (including, but not limited to, reasonable administrative and legal costs) resulting from the breach.

31.2.4. Further legal action against you.

31.2.5. Disclosure of such information to law enforcement, regulatory or other authorities as we reasonably feel is necessary or as required by law.

31.3. We may also take the actions outlined in clause 31.2 above:

31.3.1. pursuant to any ruling, order or instruction from any relevant legal, regulatory or other enforcement authority; or

31.3.2. following any change in the laws or regulations in your territory which renders the supply of Services or Digital Content to you unlawful.

31.4. We may suspend your Online Wallet:

31.4.1. pursuant to any ruling, order or instruction from any relevant legal, regulatory or other enforcement authority

31.4.2. if you are located in a country which is designated from time to time as a “high-risk third country” by the European Commission or as a “high risk and other monitored jurisdiction” by the Financial Action Task Force (FATF);

31.4.3. if you are identified on the HM Treasury Financial Sanctions Consolidated List (as amended or updated from time to time);

31.4.4. if we reasonably consider you to be a Politically Exposed Person as defined by financial enforcement authorities;

31.4.5. if you fail to disclose mandatory information which we require to perform due diligence checks on you in accordance with our obligations under applicable anti-money laundering legislation;

31.4.6. following any change in the laws or regulations in your territory which renders the supply of Services or Digital Content to you unlawful; or

31.4.7. as otherwise required by law.

31.5. On termination of your access to the Services and Digital Content (whether at your discretion or pursuant to these terms and conditions):

31.5.1. all rights granted to you under these terms shall cease;

31.5.2. you must cease all activities authorised by these terms; and

31.5.3. you must immediately destroy or return to us all copies of the Digital Content then in your possession, custody or control.

31.5.4. we shall not be obliged under any circumstances to purchase any amount of ETN still held by you.

31.6. Any provision of these terms that expressly or by implication is intended to come into or continue in force on or after termination of your access to the Services or Digital Content shall remain in full force and effect. Your obligations to us will continue and our limitations of liability will continue to apply as set out in these terms and conditions.


32. Our rights to make changes

We may make changes to these terms or to the Services or Digital Content from time to time to reflect changes to users’ needs and our business priorities. We will try to give you reasonable notice of any major changes via our official website and/or social media channels, or directly (as we determine at our absolute discretion).


33. Other terms may also apply

33.1. The ways in which you can use the Services and the Digital Content may also be controlled by the rules and policies of other service providers including (but not limited to)

33.1.1. Cryptocurrency exchanges: please see https://electroneum.com/exchanges/ for a list of cryptocurrency exchanges on which ETN is currently traded and check the rules and policies of such exchanges before use; and

33.1.2. Approved Marketplaces:

33.1.2.1. Google Play Store

33.1.2.2. Apple App Store

33.2. Where other rules and policies do apply, such other rules and policies will take precedence in the event of a conflict with these terms.


34. How we use your personal information

We will use the personal information you provide to us in accordance with our Privacy and Cookies Policy.


35. Who we are and how to contact us

35.1. “Electroneum” means Electroneum Limited, a company registered in England and Wales under company number 10845797 with its registered office at Lyndean House, 30-35 Albion Place, Maidstone, Kent ME14 5DZ.

35.2. “Electroneum Group” means Electroneum and the following subsidiaries of its Parent Company:

35.2.1. Red Cube Marketing Limited a company registered in England and Wales under company number 11690042 with its registered office 51 The Stream Ditton, Aylesford, Kent ME20 6AG; and

35.2.2. Space Agency Marketing Limited a company registered in England and Wales under company number 11119420 with its registered office at Lyndean House, 30-35 Albion Place, Maidstone, Kent ME14 5DZ.

35.3. “Parent Company” means Red Cube Advertising Limited, a company registered in England and Wales under company number 11107403 with its registered office at 51 The Stream Ditton, Aylesford, Kent ME20 6AG.

35.4. “We”, “Us”, “Our” means the Electroneum Group or the relevant company in the Electroneum Group that provides Services and Digital Content under these terms and conditions (as the context requires).

35.5. How to contact us. You can contact us via https://support.electroneum.com.

35.6. How the Electroneum Group may contact you. If any member of the Electroneum Group determines that it needs to contact you it will do so at its option by telephoning you at the telephone number you have provided, by writing to you at the email address you have provided, or via Electroneum’s website.


36. The service and digital content

36.1. We provide or make available the following services and digital content for facilitating the sending and receiving of ETN:

36.1.1. The “Online Wallet” services, developed by Electroneum. The Online Wallet is any other wallet storage mechanism developed by Electroneum and which does not constitute an offline wallet; and

36.1.2. The Electroneum mobile phone application, developed and provided by Electroneum. This mobile phone application is available for Android and iOS devices, together with the service you connect to via the mobile application and the content the Group provides to you through it (including but not limited to access to the Online Wallet, In-App Miner and Instant Payment System) (“the App”). Together referred to as the “Services and Digital Content”.

36.2. The Services and Digital Content are provided to you:

36.2.1. “As is” (without modification as a standard offering which is not bespoke to your requirements);

36.2.2. “As available” from time to time: we do not guarantee the continuity or availability of the Services or Digital Content which may be suspended or withdrawn in whole or in part at its absolute discretion;

36.2.3. Presently without charge to you (subject to clause 8), however the we reserve the right to apply charges in respect of future use and/or access to any updated Services or Digital Content that it makes available from time to time; and

36.2.4. Strictly on the basis that your use of the Services and Digital Content is at your risk and that you agree to hold us harmless from any liability in relation to your use of the Services and Digital Content, for example if your ETN is rendered inaccessible as a result of your non-compliance with these terms and conditions as a result of which we suspend, limit or withdraw your access to the Services and Digital Content in accordance with clause 31.4; if there is an issue with the ETN blockchain which is outside of Electroneum’s control; or if your access to your ETN is delayed for any regulatory or other reason.


37. The service and digital content

37.1. “Writing” includes emails. When these terms use the words “writing” or “written” in these terms, this includes emails.

37.2. References to clauses. References to clauses are to clauses of these terms.

37.3. Clause headings. Clause headings do not affect the interpretation of these terms.

37.4. We are not responsible for events outside our control. If the provision of the Services or the Digital Content is delayed or prevented by an event outside our control then we will review the position and take such steps that we consider to be reasonably practicable in order to minimise the effect of the delay. Provided we do this we will not be liable for delays caused by the event.

37.5. We may transfer this agreement to someone else. We may transfer our rights and obligations under these terms to another organisation. We will always use our reasonable endeavours to notify you of this in writing if this happens.

37.6. You need our consent to transfer your rights to someone else. You may not transfer your rights or your obligations under these terms to another person unless we specifically agree to this in writing.

37.7. We are not your partners or agents. Nothing in these terms is intended to, or shall be deemed to, establish any partnership or joint venture between us and you, constitute either us or you as the agent of any other party, or authorise us or you to enter into any commitments for or on behalf of any other party.

37.8. Nobody else has any rights under these terms. This contract is between you and us. No other person shall have any rights to enforce any of its terms.

37.9. If a court finds part of these terms illegal, the rest will continue in force. Each of the clauses of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.

37.10. Even if we delay in enforcing these terms, we can still enforce it later. If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.

37.11. These terms may be translated into languages other than English. In the event of any conflict in interpretation (in a legal sense) between translated versions of these terms, the English language version shall prevail.

Which laws apply to these and where you may bring legal proceedings. Any dispute or claim arising out of or in connection with these terms or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales and the courts of England and Wales shall have exclusive jurisdiction to settle any such dispute or claim.