This User Agreement constitutes a public electronic agreement between You (hereinafter the "User" or "You") and KUNA.IO (hereinafter the "Service" or "KUNA.IO" or "We" or "Us").
Depending upon the context, KUNA.IO may also refer to different services, products, mobile applications, websites, content or other materials provided by KUNA.IO.
The text of this User Agreement is permanently located at https://kuna.io and contains all the essential conditions of the public offer of KUNA.IO.
PLEASE READ THIS USER AGREEMENT CAREFULLY BEFORE USING THE SITE. BY ACCESSING, BROWSING OR REGISTERING TO USE THIS SITE YOU AGREE TO BE BOUND BY THIS USER AGREEMENT. IF YOU DO NOT AGREE TO BE BOUND BY THIS USER AGREEMENT PLEASE DO NOT USE THE SITE https://kuna.io.
KUNA.IO and User entered into this User Agreement under following terms and conditions:
1. TERMS AND DEFINITIONS
In this User Agreement, the terms below listed will have the following meaning, unless otherwise indicated in the text:
"Account details" means User data necessary to access and use of the Site – login, password, email and other data indicated during the registration process as well as after it.
"Affiliate" means with respect to any Person, an individual, corporation, partnership, firm, association, unincorporated organization or other entity directly or indirectly controlling, controlled by or under common control with such Person. Affiliate also means any individual, corporation, partnership, firm, association, unincorporated organization or other entity which has agreement and relations with KUNA.IO being its service provider or partner if KUNA.IO directly indicates that party as Affiliate.
"Anti-Money Laundering and Know Your Customer Policy" means Policy, aimed at prevention of laundering of money derived from criminal activity and financing of terrorism, which constitutes an essential part of the present Agreement, which text is available at https://kuna.io/legal/aml-kyc.
"Application Programming Interfaces" or "API" means KUNA.IO technology, which may include object code, software libraries, software tools, sample source code, published specifications and Documentation. API shall include any future, updated or otherwise modified version(s) thereof furnished by KUNA.IO (in its sole discretion) to Licensee.
"Business Day" means any calendar day other than Saturday, Sunday or any other day on which banks and credit institutions are authorised to be closed in British Virgin Islands, United Kingdom, Estonia and other states where banking and payment accounts are opened on the name of Affiliates of KUNA.IO.
"Crypto assets" shall mean such type of assets which can only and exclusively be transmitted by means of block-chain technology, including but not limited to digital coins and digital tokens and any other type of digital mediums of exchange, such as Bitcoin, Ethereum, Ripple, etc, to the full and absolute exempt of the securities of any kind.
"Deal" means a record of Deposit, Withdrawal and/or Trade transaction into, out from or at User Account, which is technically executed by KUNA.IO in accordance with User’s Deposit/Withdrawal request or Trade Order.
"Deposit" means remittance of Funds to the User Account on KUNA.IO.
"Documentation" includes, but is not limited to programmer guides, manuals, materials, and information appropriate or necessary for use in connection with the API.
"Fiat money" means government-issued currency, that is designated as a legal tender in its country of issuance on the legislative level.
"Funds" mean the amount of Fiat money and/or Crypto assets used during the execution of Deals.
"Force Majeure Event" shall be understood as any event beyond KUNA.IO's reasonable control, including but not limited to the flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, suspension of bank accounts of any kind, extraordinary leaps of the course of crypto asset, communications, network or power failure, or equipment or software malfunction or any other cause beyond KUNA.IO's reasonable control.
"Governmental Authority" means any national, federal, state, provincial, county, municipal or local government, foreign or domestic, or the government of any political subdivision of any of the foregoing, or any entity, authority, agency, ministry or other similar body exercising executive, legislative, judicial, regulatory and/or administrative authority or functions of or pertaining to government, including any authority or other quasi-governmental entity established to perform any of such functions.
"KUNA.IO" means group of Affiliates which provide the Service according to their authority and role and is represented currently by the following companies:
Kuna Fintech Limited, a company registered and operating according to the laws of England and Wales, сompany number 11834168, with the registered address at: 7 Bell Yard, London WC2A 2JR, being is a holder of KUNA.IP including Kuna Trade Mark, mobile application, domain name https://kuna.io, other products of KUNA.IO, if they are not owned by other Affiliates;
Kuna Labs Business Inc, a company registered and operating according to the laws of British Virgin Islands, сompany number 1995923, with the registered address at: Intershore Chambers P.O. BOX 4342 Road Town, Tortola, British Virgin Islands, providing operating and support of the Site and the KUNA.IO software;
KUNAWALLET OÜ, a company registered and operating according to the laws of Estonia, registry code 14905696, with the registered address at: 14905696, регистрационный адрес: Harju maakond, Kuusalu vald, Pudisoo küla, Männimäe/1, 74626, providing payment and crypto asset processing.
"KUNA.IO IP" shall mean all and any copyright and other intellectual property rights in all content and other materials contained on the Site, any products and applications, or provided in connection with the Services, including, without limitation, the KUNA.IO name, trademark, KUNA.IO logo and all designs, text, graphics, pictures, information, data, software, technologies, know-hows, sound and video files, other files and the selection and arrangement thereof.
"Law" means all applicable laws, regulations, judgments, decrees, treaties, ordinances, orders and rulings, interpretations and statements of policy of any Governmental Authority or regulatory or self-regulatory organization, authority, agency or body, in each case which has jurisdiction over KUNA.IO, the User, or their respective operations.
"Order" means User’s offer to Deposit, Withdrawal and/or Trade transaction into, out from or at User Account, which is technically executed by KUNA.IO.
"Parties" means KUNA.IO and the User.
"Person" means an individual, partnership, limited partnership, corporation, limited liability company, joint stock company, unincorporated organization or association, trust or joint venture, or a Governmental Authority or political subdivision thereof. Person also means the Person's Representatives, successors or permitted assigns.
"Service" means Site, including trading platform, accessible using the internet and/or telecommunications networks and/or such other graphical user interface, application program interface or other front-end trading interface as KUNA.IO may establish or permit from time to time to enable authorized Users of the trading platform to enter into Transactions, other specific products, applications of KUNA.IO.
"Site" means set of information, texts, graphic and design elements, pictures, photo, video and other fruits of intellectual activity, as well as set of software which ensures the accessibility of this information at https://kuna.io and the sub-domain web-sites belonging to KUNA.IO (including, but not limited by https://money.kuna.io, etc.).
"Term" means the term of this Agreement that shall commence upon acceptance by you of this Agreement according to the procedure defined in the recitals of this Agreement and shall continue as long as you are authorized to use the Service by KUNA.IO, subject to any earlier termination in accordance with this Agreement.
"Third-Party Software" is the development tool, compiler and other software and technology of third parties, including without limitation links to web pages of such parties, which may be represented by KUNA.IO while providing Services.
"Third-party service" is any platform or network in which Funds belong to You or where You are the beneficial owner of Funds; and this platform is maintained by a third party outside of the Services; including, but not limited to third-party accounts.
"Trade" shall be understood as an exchange of the Crypto asset or equivalent of Fiat money of one type, owned by one User Account, to the Crypto asset or equivalent of Fiat money of another type, owned by another User Account, at the terms and conditions set forth by such exchange parties, and which is executed solely and exclusively within the Site. In no case shall the Trade be deemed or construed to be a marginal trade.
"User" means a capable under personal law natural person or legal entity who uses the Services, registered on the Site according to the User Agreement and holds the Personal Account on the Site.
"User Account" means a set of protected pages created as a result of User registration, with the help of which User has the ability to perform transactions and keep records of his activity on the Service.
"Withdrawal" and any term derived means an operation involving a transfer of Funds from the User’s Account.
Other undefined terms and definitions that can be found in the text of this Agreement should be construed by the Parties in accordance with the laws of British Virgin Islands. Clause, schedule and paragraph headings do not affect the interpretation of this Agreement. The titles of different sections (articles) of the Agreement have been put with the only objective to make the text more comfortable for the reader and do not have any literal legal effect. A reference to a company shall include any company, corporation or other body corporate, wherever and however incorporated. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular. Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders.
Where the words "include(s)", "including" or "in particular" are used in this Agreement, they are deemed to have the words "without limitation" following them. Where the context permits, other and otherwise are illustrative and shall not limit the sense of the words preceding them.
2. SUBJECT OF AGREEMENT AND GENERAL DISCLAIMER
2.1. Under this Agreement, KUNA.IO renders to the Users the following services:
grants access to the Site in order to use the Services;
grants access to the Site, as well as to the User Account;
provides information necessary to use the Site.
2.2. KUNA.IO may render hereunder other services specified in this Agreement and/or which are from time to time made available on the Site.
2.3. Any User, who opens a User Account with KUNA.IO understands and accepts that Crypto assets do not necessarily have a specific form of protection or regulation by any governmental body. The value of these Crypto assets is highly volatile and speculative, extending the possibility of total loss.
2.4. As far as KUNA.IO acts solely as an intermediary bringing together buyers and sellers nothing on the KUNA.IO can be ensured to contain no errors, mistakes, mispresentations or failures etc. Such errors, mistakes, mispresentations or failures etc. can be without limitation the result of human agency, program or process imperfections. THEREFORE, NEITHER KUNA.IO NOR, WHERE APPLICABLE, ANY OF KUNA.IO RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR OUTSOURCED ADVISORS MAKES ANY REPRESENTATION, WARRANTY OR GUARANTEE WHATSOEVER WITH RESPECT TO THE INFORMATION AND, IN PARTICULAR, AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION AND/OR PROCESS. Moreover, KUNA.IO is not responsible for any loss of money, assets, securities and other types of property happened because of using any information from the KUNA.IO or trading on KUNA.IO.
2.5. No kind of trade agreement or contract is created between KUNA.IO and the Users. KUNA.IO and its Users act independently and do not create any partnership, joint venture, agency, franchise, sales representative, or secondment relationship between them.
2.6. BY CONTINUOUS USE OF THE KUNA.IO YOU FULLY INDEMNIFY AND HOLD HARMLESS KUNA.IO, IT’S OWNERS, OFFICERS AND RESPECTIVE DIRECTORS, AGAINST ALL AND ANY CLAIMS, ACTIONS, DEMANDS, COSTS AND EXPENSES, WHICH MAY ARISE IN RELATION TO AND/OR AS A RESULT OF YOUR USE OF KUNA.IO.
3. WARRANTIES AND REPRESENTATIONS OF USER
3.1. It is a pre-condition that our Services are only provided to those who are permitted to enter into legally binding relationships. Therefore, if there is any reason why you are not able to enter into legally binding relationships with KUNA.IO, for whatever reason - do not use our Services.
3.2. You further represent and warrant that You:
- are at least 18 years old or of other legal age, according to your relevant jurisdiction;
- have not previously been suspended or removed from our Site;
- have full power and authority to enter into this legal relationship and by doing so will not violate any other legal relationships;
- use our Site with your own e-mail and for your own benefit and do not act on behalf and/or to the interest of any other person;
- guarantee that your Crypto assets and Fiat money, which you transfer to use the Service are not sold, encumbered, not in contention, or under seizure, and that neither exist any rights of third parties to your crypto assets;
- are not Politically Exposed Person (PEP) or family member or close associate of the PEP. PEPs (as well as family members or close associates of the PEPs) are not allowed to use KUNA.IO. In case KUNA.IO will establish, that the User is PEP (as well as family member or close associate of the PEP), KUNA.IO reserves the right to terminate User Account of such User. For the purpose of this Agreement, the definitions "Politically Exposed Person", "family member" and "close associate" have the meaning, as it defines in (i) the FATF Recommendations (International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation) and (ii) FATF Guidance on Politically Exposed Persons (Recommendations 12 and 22);
- will not use our Services or will immediately cease using those if You are a resident or become a resident at any time of the state or region (in accordance with such state or region definition of residency), where the crypto assets transactions you are going to execute are prohibited or require special approval, permit and/or authorization of any kind, which KUNA.IO has not obtained in this state or region. Notwithstanding the above, you are not in any case allowed to access and use our Services if you are located, incorporated or otherwise established, or a citizen or resident of: the United States of America, as well as to legal entities in which the share of a US citizen and/or US resident is 10% or more; United Kingdom, Germany, Japan, North Korea, Sudan, Crimea and Sevastopol; Cuba, Syria, or any state, country or other jurisdiction that is embargoed by the United States of America, a jurisdiction where the local Applicable Law prohibits or will prohibit you at any time (by reason of your nationality, domicile, citizenship, residence or otherwise) to access or use the Services of KUNA.IO; or any state, country or other jurisdiction that falls under the sanctioned list of FATF, EU, OFAC, (hereinafter, together "The Restricted Jurisdictions");
- will not use the Site or any Services in order to disguise the origin or nature of illicit proceeds of, or to further, any breach of applicable Laws, or to transact or deal in, any contraband Funds, property, or proceeds;
- will not use the Site or any Services if any applicable Laws, including, but not limited to, AML Laws, CTF Laws, Anti-Corruption Laws and Economic Sanctions Laws, prohibit, penalize, sanction, or expose KUNA.IO to liability for any Services furnished or offered to you or your crypto currency wallet(s) or crypto currency address(es) under this Agreement;
- will not use the Site or any Services to evade taxes under the Laws of the British Virgin Islands or any other jurisdiction(s) applicable to You or the Site;
- will not trade on the Site, or use any Services, with anything other than fiat money, keys, property, or crypto assets that have been legally obtained by you and that belong to you;
- will not use the Site or any Services to interfere with or subvert the rights or obligations of KUNA.IO or the rights or obligations of any other Site user or any other Person;
- will not post, submit, publish, display, or transmit any User Submission that violates the Agreement or the rights of any Person, including, but not limited to, the intellectual property rights of any Person;
- will not trade using misleading or inaccurate information presented to the Site or to KUNA.IO or take advantage of any technical glitch, malfunction, failure, delay, default, or security breach;
- will not use the Site or any Services to engage in conduct that is detrimental to KUNA.IO or to any other Site user or any other Person;
- will not use the Site or any Services to: (i) engage or attempt to engage in wash trading, spoofing, fictitious trading or price manipulation; (ii) enter orders or quotes with the intent to disrupt, or with reckless disregard for the adverse impact on, the orderly conduct of trading or the fair execution of transactions; or (iii) enter orders or quotes in the Site or any Crypto assets market with the intent of creating the false impression of market depth or market interest;
- will not falsify any crypto currency wallet, crypto currency address, Site registration, exchange, or administration details provided to KUNA.IO, impersonate another Person or misrepresent your affiliation with a Person;
- will not falsify or materially omit any information or provide misleading or inaccurate information requested by KUNA.IO, including, but not limited to, at Site registration or during the course of administering any Services to You;
- will not cause injury to, or attempt to harm, KUNA.IO, or any Person through your access to the Site or any Services, including, but not limited to, posting, submitting, publishing, displaying, or transmitting any User Submission that is defamatory, obscene, indecent, abusive, offensive, harassing, violent, hateful, inflammatory, or otherwise objectionable;
- will not promote discrimination based on race, religion, nationality, disability, sexual orientation, gender or gender identity, or age;
- will not have more than one registered identity or more than one crypto currency wallet on the Site, or use any crypto currency wallet on a one-time, ‘throwaway’ basis; any such additional crypto currency wallet or one time ‘throwaway’ crypto currency wallet may be terminated or suspended at the absolute discretion of KUNA.IO;
- will not access the Site or use any Services utilizing any virtual private network, proxy service, or any other third-party service, network, or product with the effect of disguising your IP address or location, or access the Site or use any Services using a crypto currency address in or subject to the jurisdiction of any Prohibited Jurisdiction;
- will not post, submit, publish, display, or transmit any advertising or promotional material without the prior written consent of KUNA.IO;
- will not violate, promote, cause a violation of, or conspire or attempt to violate this Agreement or applicable Laws.
3.3. KUNA.IO reserves the right to close any of your User Accounts, to liquidate any open trade position, and to force you to withdraw all the crypto assets and fiat money from the User Account in case if: (i) KUNA.IO determines that you are accessing the Services or the User Account from any Restricted Jurisdiction, or (ii) you have given false representations as to your location of incorporation, establishment, citizenship or place of residence. For the purpose of this clause "Applicable Law" refers to all applicable laws of any governmental authority, including, without limitation, federal, state and foreign securities laws, tax laws, tariff and trade laws, ordinances, judgments, decrees, injunctions, writs and orders or like actions of any governmental authority and rules, regulations, orders, interpretations, licenses, and permits of any federal, regional, state, county, municipal or other governmental authority.;
3.4. When accessing or using the Site, You further represent, agree and warrant, that You will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Site. Without prejudice to the generality of the foregoing, you represent, agree and warrant, that You will not:
- use the Site in any manner that could interfere with, disrupt, negatively affect or inhibit other users from using our Site with full functionality, or that could damage, disable, overburden or impair the functioning of in any manner;
- use the Site to pay for, support or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or any other illegal activities;
- use any robot, spider, crawler, scraper or other automated means or interface not provided by Us to access the Site or to extract data;
- use or attempt to use another User Account without authorization;
- Attempt to circumvent any content filtering techniques We employ, or attempt to access any service or area of our Site that you are not authorized to access;
- Develop any third-party applications that interact with our Site without our prior written consent;
- Provide false, inaccurate, or misleading information;
- Encourage or induce any third party to engage in any of the activities prohibited under this Section.
3.5. YOU INDEMNIFY AND HOLD KUNA.IO HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH INVALIDITY OR BREACH OF ANY OF THE WARRANTIES, REPRESENTATIONS AND COVENANTS OF THIS SECTION AND THE ENTIRE TERMS.
4. ACCESS TO THE SERVICE AND REGISTRATION
4.1. Depending on the User’s place of residence, the User may not be able to use the Service. It is the User’s responsibility to follow those rules and laws in his/her place of residence and/or place from which the User accesses the Service. The use of the Qiwi and Yandex payment service is prohibited for residents of Ukraine.
4.2. User is obliged to ensure the safety and security of the password and Account details. In case of loss of the password and/or data of the User Account, as well as in the event third parties obtain unauthorized access to the User Account, the User must immediately inform the KUNA.IO support service. Until such a message is received, all actions performed using the User Account will be considered as committed by the User himself.
4.3. KUNA.IO provides Users with access to the information about the Site, exchange rates, placed orders, closed transactions and specific services without registration.
4.5. Access to the https://money.kuna.io is granted without registration and entering through the User Account.
4.6. Registration is complete once the User receives a notification of successful registration on the indicated e-mail. The User sets his own password at registration and is solely responsible for the safety of the password and all account information. The User is obliged to provide appropriate security measures for his account and password, including protection from third-party access. The User is responsible for maintaining adequate security and control of any and all his usernames, passwords, two-factor authentication codes or any other codes or credentials that the User use to access the Service. KUNA.IO is not responsible for any losses of the User, which are caused by unauthorized access to the User Account, third-party access to the password/User Account.
4.7. User Account details must not contain misleading or fraudulent information. Creating fake information for the User Account or providing fraudulent identification documents is prohibited. If KUNA.IO has doubts the details are not correct, current, or complete, KUNA.IO has the right to refuse the User the access to the Site, or any of its resources, and to terminate or suspend User Account.
4.8. KUNA.IO may require the User to verify his identity to access the Service which is offered. Verification includes the verification of a mobile phone, verification of identity documents of the User, the address of the User's residence.
4.9. Verification may include additionally the card and bank details verification where applicable.
5. SECURITY MEASURES, AML AND KYC POLICY
5.1. KUNA.IO takes all appropriate measures and implement the best standards of compliance with all applicable laws and regulations regarding Anti-Money Laundering. KUNA.IO will make reasonable efforts to detect and prevent people engaged in any criminal activity in any jurisdiction from using the Service. To prevent and mitigate possible risks of KUNA.IO being involved in any kind of illegal activity the AML/KYC Policy was adopted (https://kuna.io/legal/aml-kyc).
5.2. AML/KYC Policy includes Verification procedures, Monitoring Transactions, Risk Assessment, hiring of the Compliance Officer responsible for compliance of Verification procedures, Monitoring Transactions, Risk Assessment, and who is entitled to interact with law enforcement, which are involved in prevention of money laundering, terrorist financing and other illegal activity.
5.3. By accepting this User Agreement, Users confirm that they own Funds legally. If the Funds of third parties are used to make Deals through the Service, then the Users themselves are liable for the eligibility of these Funds.
5.4. If KUNA.IO has the grounds to suppose that the User is willing to commit a suspicious transaction it may at its discretion: to refuse to render the Services upon certain Order; request additional information proving legitimate character of the operation; to block access of the User to the User account; to terminate the User Agreement without prior notice of the User.
5.5. Regardless of changes and to avoid doubtness KUNA.IO will not render Services to the Users – citizens or residents of the countries currently belonging to the Restricted Jurisdictions.
6. USER ACCOUNT
6.1. After registration on the Service the User receives access to the User Account. The User can perform Deals using his/her User Account.
6.2. All information needed for Depositing or Withdrawing Funds is published in the User Account.
6.3. Depositing the Funds to the User Account is the registration of the incoming transaction. Transferred Funds equivalent will be displayed as the equivalent of the corresponding Funds in the User Account.
6.4. User can get access to third-party services through the Service to use the services of third parties. In the event the User deposits the User Account or withdraws the Funds using third-party services, the initiated operation is performed using the tools and assets that are used according to the offers of third parties accepted by User. By initiating Deals through the Service, using the services of third parties, the User gives the right and instructs to transfer information necessary to carry out the initiated Deals using the tools and assets used in accordance with the offers of third parties accepted by the User to third parties. The responsibility for Deals carried out using the services of third parties lies on the User.
6.5. All information about Service’s fees and limits is published on the Site under the following address: https://kuna.io/documents/fees. By using the Service the User agrees with the fees and limits set on the Service. The Service reserves the right to make changes to the amount of fees and limits. Any fee or other mandatory payments for the transfer of Funds, collected by the bank, non-bank financial institutions, other intermediaries are paid by the User independently.
6.6. The Service undertakes to store information of the deposited Funds, maintain their automatic record, ensure their availability for exchange in accordance with this User Agreement.
6.7. The Service is not a payment system or an operator of payment transactions, therefore it provides only technical record of balances of Funds. The Service does not perform operations on transfer or storage of Users' Fiat money. All operations for transferring Funds during the depositing or the withdrawal of Funds are performed by the intermediary services in accordance with the rules for using this Service. The Service is not responsible for the actions of intermediary services.
6.8. The Service has the right to provide write-off and liquidation of the Funds from the User Account in case of delisting of the specific type of Crypto asset of any kind in case the User did not initiate the withdrawal of the appropriate token within the period defined by the Service for providing the withdrawal after delisting. To withdraw the Fund from the User Account, the User fills the corresponding form and Order in the User Account.
7. TRADES AND OTHER DEALS
7.1. Trades and other Deals are conducted on the basis of Orders, that are placed by Users according to below mentioned rules.
7.2. Order Placement is an offer made by the User to any other User to conclude a Deal on the terms specified in the corresponding Order. Substantial conditions of the Trade specified in the Order are the following: the name of the Funds that are offered for exchange; direction of the Order; limited volume of the Funds that are offered for exchange; exchange rates.
7.3. In order to ensure the fulfillment of obligations under placed Orders, the User must have Funds on his/her User Account not less than the full amount of all Orders that he/she has placed. The Order is registered on the Service only after verifying the availability of the required volume of Funds to fully secure User's obligations under the relevant Orders. For purposes of effectuating a Deal, User authorizes KUNA.IO to take temporary control of the Funds that User is disposing of in the Trade. By placing an Order, the User gives his consent to the fact that, in the case of execution of the Order, the automatic writing off of the Funds from the User's Account, as well as the automatic charging of the Funds on the User's Account will be deemed to be those that are performed by the Service upon the User's request.
7.4. Orders can be executed fully and partially. In case of partial execution the Service automatically places an Order for the amount that is the difference between the amount of the initial Order and the amount of the executed Order.
7.5. A Trade is complete when another User places an opposing Order with the exchange rate at which a Deal may be performed in accordance with this User Agreement. In case of execution of the Order, KUNA.IO performs automatic offsetting of the Funds between the User Accounts in accordance with executed Orders.
7.6. User may only cancel an Order initiated via Site if such cancellation occurs before his Order has been matched with an Order from another User. Once your Order has been matched with an Order from another User, User may not change, withdraw, or cancel his authorization for KUNA.IO to complete such Order.
7.7. All actions related to the placement of the Order, its execution or withdrawal are displayed in the User Account.
7.8. Trades on the Service may be carried out using electronic money. In this case, initiating the execution of the Trade through the Service, the User thereby initiates the purchase of Fiat money for replenishment with electronic money (according to the public offer accepted by the User) in the amount necessary to complete the deal.
7.9. Trade rates. Each placed Order creates different market exchange rates. User acknowledges and agrees that the rates information made available via the Service may differ from prevailing rates made available via other sources outside of Service.
7.10. Market volatility. Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any crypto asset, the actual market rate at which a market Order transaction is executed may be different from the prevailing rate indicated via the KUNA.IOat the time of Trade transaction. User understands KUNA.IO is not liable for any such rates fluctuations.
7.11. The information about exchange rates made available via the Site shall not be considered as an investment or financial advice or referred to as such and cannot be used as a basis of investment strategy, legal position in the court and nothing in the rates information can be ensured to contain no errors, mistakes, mispresentations or failures etc.
8. API LICENSE AGREEMENT
8.1. Subject to the terms of this Agreement, based on a preliminary User specific request, KUNA.IO hereby may grant Licensee a limited, non-exclusive, non-transferable, royalty-free license (without the right to sublicense) to use the API solely for the purpose of Licensee's internal development efforts to develop applications to work in conjunction with the KUNA.IO products referenced in the API and for which the API was provided. Licensee shall have no right to distribute, license (whether or not through multiple tiers) or otherwise transfer the API to any third party.
8.2. Licensee may copy the API only as necessary to exercise its rights hereunder.
8.3. Licensee shall have no rights to any source code for any of the software in the API, except for the explicit rights to use the source code as provided to Licensee hereunder. Licensee may not reverse engineer, decompile, modify, disassemble or otherwise alter the API or any part thereof or otherwise reduce the API to human-perceivable form in whole or in part, except and only to the extent that such activity is expressly permitted by this Agreement or applicable laws.
8.4. Third Party Software. Licensee acknowledges that effective utilization of the API may require the use of a Third Party Software. Licensee is solely responsible for procuring such Third Party Software and technology and the necessary licenses for the use thereof. KUNA.IO makes no representation or warranty concerning Third Party Software and shall have no obligation or liability with respect to Third Party Software.
8.5. No right is granted to Licensee to sublicense its rights hereunder. All rights not expressly granted are reserved by KUNA.IO and, except as expressly set forth herein, no license is granted by KUNA.IO under this Agreement directly, by implication, estoppel or otherwise, under any patent, copyright, trade secret or trademark or other intellectual property rights of KUNA.IO. Nothing herein shall be deemed to authorize Licensee to use KUNA.IO's trademarks or trade names in Licensee's advertising, marketing, promotional, sales or related materials. KUNA.IO reserves all rights not otherwise expressly granted in this Agreement.
8.6. No assertion by Licensee. Licensee agrees not to assert any patent rights related to the API or applications developed using the API against KUNA.IO, KUNA.IO distributors, KUNA.IO customers, or other licensees of the API for making, using, selling, offering for sale, or importing any products or technology developed using the API.
8.7. As between KUNA.IO and Licensee, KUNA.IO or its licensors shall own and retain all proprietary rights, including all patent, copyright, trade secret, trademark and other intellectual property rights, in and to the API and any corrections, bug fixes, enhancements, updates, improvements, or modifications thereto and Licensee hereby irrevocably transfers, conveys and assigns to KUNA.IO all of its right, title, and interest therein. KUNA.IO shall have the exclusive right to apply for or register any patents, mask work rights, copyrights, and such other proprietary protections with respect thereto. Licensee acknowledges that the license granted under this Agreement does not provide Licensee with title or ownership to the API, but only a right of limited use under the terms and conditions of this Agreement.
8.8. KUNA.IO will not provide any support for the API under this Agreement. Nothing herein shall be construed to require KUNA.IO to provide consultations, support services or updates, upgrades, bug fixes or modifications to the API.
9. PERSONAL DATA
10. INTELLECTUAL PROPERTY RIGHTS
10.1. The Site and other components of the Service are protected by legislation in the field of intellectual property. All rights reserved. Service does not claim ownership of intellectual property rights that belong to third parties.
10.2. The User acknowledges and agrees that all content and materials that are available on the Service are protected, including but not limited to copyright, trademarks, patents, trade secrets, know-how. Reproduction, copying or redistribution for commercial purposes of any materials or elements of the Service without written permission is strictly prohibited.
10.3. Except in cases specifically provided by KUNA.IO, the User agrees not to perform actions that violate intellectual property rights of KUNA.IO, including but not limited to: selling, importing, exporting, licensing, renting, modifying, distributing, copying, reproducing, transfer, public demonstration, public performance, publication, adaptation, editing or creation of derivative works from materials, design elements or the content of the Service. Use of content, materials, other objects of intellectual property rights of the Service for any purposes not expressly indicated in this User Agreement is strictly prohibited.
11. PREVENTION OF MISCONDUCT. WARRANTIES OF USER
11.1. User are prohibited to conduct the following actions:
to use the Service to conduct fraud and any other illegal transactions, including using illegally obtained credit or payment cards;
to use the Service as a tool for financing transactions or activities for which administrative, criminal or civil liability is provided under applicable law;
perform any actions with Funds, by passing the procedure provided for in this User Agreement;
to copy and/or diffuse any items of intellectual property published on the Site except when this function is clearly contemplated by the Site;to copy or use in any other way the program part of the Site as well as its design;to use the personal data of third persons without their permission;
to change in any way the program part of the Site, take any actions aimed at changing the functionality and usability of the Site, disable or otherwise interfere with the work of the Site;
to insult or use any words or provide any actions violating rights and freedoms of third persons.
11.2. In case if suspicious transactions are detected from the User's Account, access to the User Account may be restricted and the User Funds may be locked for conducting a review for a period of between 24 hours and 180 business days. Maximum period is dictated by possible restrictions and prohibitions that may be applicable to us by third parties, including banks, payment systems that can freeze or lock Users' Funds for up to 180 days, and KUNA.IO will not be able to influence the decision of these third parties.
11.3. The User agrees that in case of violation of this User Agreement KUNA.IO has the right to block the User's Account.
12. SUSPENSION AND TERMINATION
12.1. User may terminate this Agreement with KUNA.IO, and close his/her User Account at any time, following settlement of any pending Deals.
12.2. Notwithstanding any other provision of this Agreement, User acknowledges and agrees that KUNA.IO has the right to immediately terminate the User Account, to lock any Funds in this User Account, and terminate access to the Service in the following cases:
this User Account and activities of User became the subject to a criminal investigation or other pending administrative proceeding or litigation;
KUNA.IO detected unusual and suspicious activity in the User Account;
in case of unauthorized access to the User Account;
KUNA.IO was required to do so by a court order or the order of regulatory/government authority.
12.3. User acknowledges that KUNA.IO shall have the right to restrict his/her access to, or to impose limits or suspend his use of, the Site (including capacity to place Orders and enter into Deals), or to discontinue transmitting any data or other information, or to refuse to enter into, facilitate or process any or all Deals, if in the KUNA.IO's sole discretion any of the following circumstances occur or KUNA.IO considers such circumstance to be likely to occur:
full or partial failure of the Site, including failure of any of the technology constituting the Site or any of the communications links within the Site or between the Site and any other Person or counterparty, or any other circumstance where KUNA.IO considers in its reasonable discretion that it is not practicable for KUNA.IO to provide access to the Site;
a breach in the security of the Site;
in order to comply with Law (including but not limited to the prohibition of or restrictions in respect of any Crypto currency).
12.4. Any actions taken by KUNA.IO pursuant to this Section 12 shall continue for such time as KUNA.IO shall in its reasonable and sole discretion consider necessary or desirable. User agrees that it shall be a material breach of this Agreement to evade, or attempt to evade, any suspension, restriction or limitation imposed under this Section 12 of the Agreement; and KUNA.IO shall not at any time be obliged to take any action permitted under this Section 12.
12.5. In addition, User acknowledges and agrees that if any of the circumstances enumerated in through this Section 12 occurs at any time, KUNA.IO may cancel the Deal previously executed by the User through the Site so long as KUNA.IO immediately notifies User of any such cancellation.
12.6. Should the User Account be terminated, the User Account and Personal data required for meeting data retention standards will be securely stored for five years.
12.7. Once the User Account is closed in a normal regime and without violation of User agreement or based on cases mentioned the User agreement, the User will have 5 working days to withdraw all Funds from the User Account.
12.8. In the event of termination of User Agreement due to its violation by User (including but not limited to the use of the Service by persons from the Restricted Jurisdictions , or as part of the investigation of fraudulent transactions and the fight against money laundering, KUNA.IO cancels User’s Account, and has the right to impose a penalty on the amount of the entire balance of Funds held in the User’s Account.
13. WARRANTIES. LIMITATION OF LIABILITY OF KUNA.IO
13.1. KUNA.IO provides the Site and all services "AS IS". KUNA.IO does not make any specific promises about functioning of the Site and does not make any commitments about the content of the Site, the specific functions of the Site, or their reliability, availability or ability to meet the User’s needs.
13.2. To the extent permitted by law KUNA.IO excludes all warranties, guarantees, conditions, representations, and undertakings.
13.4. As a rule, KUNA.IO does not implement a chargeback policy. In some cases, the Service can recover cross-chain deposits. User should refer to the Cross-chain policy on a Site.
13.5. By performing the Deal, the User agrees and carries all the risks involved in performing the Deals himself. KUNA.IO can not be charged for any cancellation of Deals. KUNA.IO does not accept or process applications from anyone for the return and/or cancellation of Deals.
14. RISK WARNING
14.1. By accepting the User Agreement the User acknowledges and accepts any risks associated with all deals, agrees to be bound by the User Agreement, and acknowledges and accepts the following and any other risks.
14.2. The User guarantees that he/she understands general principles of work with Crypto assets and is aware of Crypto assets of the following characteristics affecting its value and risks related to it mainly price volatility and transparency. User should understand there is a greater risk that he/she may not receive a fair and accurate price for the underlying cryptocurrency when trading.
14.3. User has to consider his/her financial position. The User has to be rational and do not invest money he/she cannot afford to lose.
14.4. KUNA.IO is not a broker, agent or advisor and has no fiduciary relationship or obligation to User in connection with any transaction, decisions or activities effected by his/her using the Services.
14.5. Any data, prices, news, opinions, researches, analyses and/or any other information contained on the Site is provided as general market commentary, and does not constitute an investment advice.
14.6. The User is prohibited from using the Service in order to transfer Funds in favor of forex brokers, to replenish gaming accounts and for other similar purposes. By concluding this User Agreement, the User assumes responsibility for such operations and the risks of negative consequences associated with such operations.
14.7. The User assumes risks and responsibility in case of withdrawal of Funds acquired by him outside the Service.
15. GOVERNING LAW. DISPUTE RESOLUTION.
15.1. This User Agreement shall be governed by and construed and enforced in accordance with the Laws of the British Virgin Islands, and shall be interpreted in all respects as a British Virgin Islands contract.
15.2. Should there be any disputes regarding matters stipulated herein, the Parties shall take all measures possible to resolve them by negotiations.
15.3. Should the Parties fail to reach an agreement by means of negotiations, any dispute arising from the User Agreement or related hereto, shall be referred to and finally resolved in accordance with Laws of the British Virgin Islands, exclusive of choice-of-law principles.
15.4. This decision shall be final and binding for both Parties, and may be used or produced for enforcement at any court having respective jurisdiction; an application concerning enforcement order may be filed to such competent court, if required.
15.5. The Parties agree that the information of arbitration, including but not limited to the information of any arbitration decision, shall be deemed confidential and not disclosed to any third parties without the written consent of the Parties, unless required by law.
16. AMENDMENTS OF THE AGREEMENT
KUNA.IO has the right to unilaterally change this User Agreement. The changes take effect in 3 (three) days after the moment the new version of corresponding documents is published on the Site. If the User does not accept new edition of the User Agreement, he/she should stop using the Site.
17. FINAL PROVISIONS
17.1. All the notifications, messages and documents related to the fulfillment of obligations arising out of this Agreement should be sent to and are considered as received by the Parties if they have been sent via email from the authorized address of one Party to the authorized address of the other Party. An authorized address are the following:
for the User: the email address indicated in the User Account;
for KUNA.IO: [email protected]
KUNA.IO may provide to you through the Site information, notifications and confirmations with respect to Orders, Deals and the Site and its use. Such information, notifications and confirmations will be deemed to have been received by you as soon as they are available for you to access through the Site.
17.2. This Agreement, and any other documents referred to therein (including the essential parts of this Agreement referred to above) constitute the whole agreement between the Parties and supersede any previous arrangement, understanding or agreement between them relating to the subject matter of the Agreement. Each Party acknowledges that, in entering into the Agreement it does not rely on any statement, representation, assurance or warranty (“presentation”) of any Person (whether a party to the Agreement or not) other than as expressly set out in the Agreement or other documents referred to in the Agreement.
17.3. If any provision of this Agreement is or becomes (whether or not pursuant to any judgment or otherwise) invalid, illegal or unenforceable in any respect under the Law of any jurisdiction: (i) the validity, legality and enforceability under the Law of that jurisdiction of any other provision; and (ii) the validity, legality and enforceability under the Law of any other jurisdiction of that or any other provision, shall not be affected or impaired in any way thereby. If any court or Governmental Authority finds that any provision of this Agreement (or part of any provision) is invalid, illegal or unenforceable, that provision or part-provision will, to the extent required, be deemed to be deleted, and the validity and enforceability of the other provisions of the Agreement will not be affected.
17.4. Except as expressly provided in the Agreement, the rights and remedies provided under the Agreement are in addition to, and not exclusive of, any rights or remedies provided by Law.
17.5. User agrees that damages alone would not be an adequate remedy for breach of this Agreement or for any unauthorized use by you of any of the IP Rights, and that KUNA.IO shall be entitled, without proof of special damages, to the remedies of injunction, specific performance or any other equitable remedy for any threatened or actual breach of any relevant provisions of this Agreement or unauthorized use.
17.6. In the event that KUNA.IO is acquired by or merged with a third party entity or KUNA.IO’s assets and/or business (wholly or in part) are acquired by a third party, KUNA.IO reserves the right, in any of these circumstances, to transfer or assign the information that KUNA.IO has collected from the User, including your Personal Data, User Account Data and other information as part of such merger, acquisition, sale, transfer, or any other change of control.
17.7. User shall not assign this Agreement in any manner without the prior written consent of KUNA.IO, and any purported assignment in contravention of this clause 17.7 shall be null and void. KUNA.IO may assign this Agreement to another Person in connection with the transfer of all or part of the KUNA.IO‘s assets or business to an Affiliate of KUNA.IO or to any third party. By accepting the present Agreement, you give your irrevocable consent for the above mentioned assignment and/or transfer, including for the transfer of your Personal Data, User Account Data and other information, as well as for the transfer of any Funds on your Account (-s) hold by KUNA.IO in the course of such Assignment.
17.8. User acknowledges and agrees that any and all telephone conversations and other communications between the User and KUNA.IO, including KUNA.IO's technical support desk may, at the option and in the sole discretion of KUNA.IO be recorded with or without the use of an automatic tone warning device. User further irrevocably agrees and allows KUNA.IO to use such recordings and any transcripts thereof as evidence in connection with any dispute that may arise in relation to any matter arising under or in relation to this Agreement, Services hereunder, any Order or Trade.
Last updated on the 20th of February 2020