These Terms of Use (“hereinafter referred to as the “Terms”) set forth the terms for Your use of Pitex and other services (“hereinafter referred to as the “Services”) in accordance with these Terms.
Please read these Terms carefully before using the Services. By accessing or using the Services, You agree to comply with these Terms and other policies and notices, including any future changes. If You do not agree to these Terms of Use and other connected policies and notices, do not use the Services.
You certify that You are an authorized representative of the legal entity or an individual over the age of 18 and are authorized to enter into this Agreement. The Services are intended solely for use by individuals over the age of 18 or by legal entities. The use of the Services by minors is prohibited, and Pitex shall not be held responsible for any consequences resulting from the use of the Services by minors.
We caution You about the inherent risks of Virtual Asset trading, including significant price volatility, market uncertainty, and the potential for financial loss. You are strongly encouraged to assess Your own risk tolerance, seek independent advice if necessary, and exercise prudence when engaging in trading or related activities. In compliance with VARA Market Conduct Rulebook Article 4.3, Pitex expressly advises that Virtual Assets are considered high-risk instruments and may result in the loss of the entire investment.
We implement different types of programs, such as referral programs, bonus programs, and other community activities. We reserve the right to amend or discontinue these programs at any time without prior notice.
Pitex is a licensed Virtual Asset Service Provider (VASP) regulated by the Virtual Assets Regulatory Authority (VARA) in the Emirate of Dubai. The Services provided are strictly limited to those permitted under Pitex’s VARA-issued license(s). Pitex does not provide any services to residents of jurisdictions that are prohibited under applicable laws, sanctions, or the VARA Rulebooks, including jurisdictions subject to UAE Cabinet Resolution No. 112 of 2021 on the Regulation of the Terrorism Lists and other international sanctions lists (e.g., UN, OFAC).
By entering into this Agreement, You acknowledge and agree to comply with:
By accepting these Terms, You confirm that You will not use the Services in any manner that violates applicable laws, regulations, or the terms of Pitex’s VARA license.
1.1. For the purposes of these Terms, Pitex FZE (a company registered in the United Arab Emirates, licensed under the Dubai Virtual Assets Regulatory Authority – VARA), its affiliated entities, and other partners (hereinafter referred to as “We”, “Us”, “Our”) are the entities that provide the services outlined in these Terms through the Pitex platform.
These Services are provided in accordance with the requirements set out by the Dubai Virtual Assets Regulatory Authority (VARA) rulebooks, including but not limited to the Exchange Services Rulebook and Custody Services Rulebook, as well as other applicable laws and regulations in the United Arab Emirates.
In the provision of the Services, affiliated entities and partners located outside the United Arab Emirates shall not offer services in jurisdictions where such offerings are prohibited, including to clients within the EEA, unless explicitly permitted under applicable laws. The provision of services by these entities is governed by the laws and regulations of their respective countries of incorporation.
All customer data, including personal information and transaction records, shall be stored and processed exclusively within the UAE in compliance with VARA’s Data Protection and Security requirements. No cross-border transfer of customer data shall occur, except as expressly permitted under applicable UAE law.
1.2. The term “Pitex” refers to the mobile application, platform, services, or any specific functionality provided by Us. The official website is https://pitex.ae. All services and functionalities are offered in accordance with the applicable laws and regulations of the United Arab Emirates, including the Dubai Virtual Assets Regulatory Authority (VARA) rulebooks and guidelines.
1.3. Crypto-assets refer to digital representations of value or rights that are transferable and storable electronically using distributed ledger technology (DLT) or similar mechanisms, as permitted under applicable UAE laws and regulations, including the Virtual Assets and Related Activities Regulations 2023 (VARA Regulations). This definition excludes:
1.4. User Account refers to a personal or corporate account registered by You with Pitex to access and use the Services, in accordance with the Virtual Assets and Related Activities Regulations 2023 (VARA Regulations) and other applicable UAE laws. The creation and use of a User Account require completion of mandatory Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, and Your account may be suspended or terminated if You fail to meet ongoing compliance requirements.
1.5. Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) Policy refers to the set of rules, procedures, and internal controls developed by Pitex in compliance with the Virtual Assets and Related Activities Regulations 2023 (VARA Regulations), Cabinet Resolution No. 10 of 2019 on the Implementing Regulation of Federal Decree-Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism, and other applicable UAE laws and regulations. The AML/CFT Policy aims to prevent money laundering, terrorism financing, and proliferation financing in virtual asset transactions, ensuring robust Know Your Customer (KYC), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and ongoing monitoring measures are implemented in line with the requirements of VARA, the Central Bank of the UAE, and relevant international standards such as the Financial Action Task Force (FATF) Recommendations.
1.6. Sanctions Compliance Policy refers to the framework of rules, procedures, and internal measures implemented by Pitex to ensure full compliance with applicable sanctions regimes, including but not limited to the UAE Cabinet Resolution No. 74 of 2020 on the Terrorism Lists Regulation and Implementation of United Nations Security Council Resolutions on the Suppression and Combating of Terrorism, Terrorist Financing, Countering the Proliferation of Weapons of Mass Destruction, and Related Resolutions; the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) sanctions lists; and any other applicable sanctions obligations under the Virtual Assets and Related Activities Regulations 2023 (VARA Regulations). The Sanctions Compliance Policy aims to prevent dealings with sanctioned persons, entities, countries, or activities, and requires ongoing screening, monitoring, and immediate reporting in accordance with the requirements of the UAE Central Bank, VARA, and relevant international standards such as the Financial Action Task Force (FATF) Recommendations.
1.7. Risk-Based Approach refers to the methodology applied by Pitex in compliance with the UAE Federal Decree-Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations (AML-CFT Law), Cabinet Resolution No. 10 of 2019 concerning the Implementing Regulations of said Law, and the Virtual Assets and Related Activities Regulations 2023 (VARA Regulations). Under this approach, Pitex assesses the money laundering, terrorist financing, and proliferation financing risks associated with its products, services, delivery channels, customers, and geographical locations. The level and nature of customer due diligence (CDD) and enhanced due diligence (EDD) measures are determined based on the assessed risk profile, in line with the recommendations of the Financial Action Task Force (FATF). This includes ongoing monitoring of transactions, periodic risk reassessment, and implementing additional controls where higher risks are identified.
1.8. User (You) – a natural person who is at least 18 years old and has full legal capacity under applicable law, or a legal entity duly incorporated and in good standing, which uses the Services provided by Pitex. Users must not be residents or nationals of jurisdictions subject to comprehensive international sanctions, or otherwise prohibited under the applicable laws of the United Arab Emirates, including but not limited to the Virtual Assets and Related Activities Regulations (VARA Regulations) and UAE Federal AML-CFT legislation. By registering and using the Services, the User confirms compliance with all eligibility requirements and warrants that all information provided is accurate, current, and complete.
1.9 Funds refers to banknotes, coins, and electronic money or other forms of monetary value recognized as legal tender or payment instruments under the applicable laws and regulations of the United Arab Emirates, including those regulated by the Central Bank of the UAE.
1.10. Onboarding Procedure – the process by which You register a User Account with Pitex, involving the collection, authentication, verification, and validation of personal and/or corporate information as required under the applicable laws and regulations of the United Arab Emirates, including the Virtual Assets Regulatory Authority (VARA) Rulebooks and Guidelines.
This procedure is conducted in full compliance with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) obligations, Customer Due Diligence (CDD) standards, and Know Your Customer (KYC) requirements as mandated by VARA and other competent UAE authorities. You may be required to provide additional documentation or undergo Enhanced Due Diligence (EDD) measures, including but not limited to verification of source of funds, source of wealth, and beneficial ownership details, to ensure complete adherence to regulatory and platform-specific obligations.
1.11. Services refers to the activities and functions provided by Us, including but not limited to virtual asset exchange services, custody services, swap transactions, crypto-to-fiat conversions (where applicable), wallet services, and any other activities approved and licensed by the Dubai Virtual Assets Regulatory Authority (VARA). All Services are delivered in strict compliance with the applicable VARA Rulebooks, UAE Federal laws, and other relevant regulatory requirements, explicitly excluding any unlicensed or cross-border services in jurisdictions where Pitex is not authorized.
2.1. We provide our Services through the Pitex application, except for the Payment Services as specified in clause 2.5. All Services are provided in compliance with the applicable laws and regulations of the United Arab Emirates, including the Virtual Assets Regulatory Authority (VARA) Rulebooks and Guidelines.
2.2. The Services provided, including without limitation:
2.2.1. Execution of crypto-asset related orders on behalf of clients – the conclusion of agreements, on behalf of clients, to purchase or sell one or more Virtual Assets, or the subscription on behalf of clients for one or more Virtual Assets, including the conclusion of contracts to sell Virtual Assets at the moment of their offer to the public or admission to trading, in compliance with VARA’s Exchange Services and Broker-Dealer Services Rulebooks.
2.2.2. Placing of crypto-assets – the marketing, on behalf of or for the account of the offeror or a party related to the offeror, of Virtual Assets to purchasers, in accordance with VARA’s requirements for marketing and promotions and subject to prior approvals where applicable.
2.2.3. Providing transfer services for crypto-assets on behalf of clients – providing services for the transfer, on behalf of a natural or legal person, of Virtual Assets from one distributed ledger address or account to another, in compliance with VARA’s Transfer & Settlement Services Rulebook, including adherence to Travel Rule and AML/CFT obligations.
2.2.4. Reception and transmission of orders for crypto-assets on behalf of clients – the reception from a person of an order to purchase or sell one or more Virtual Assets, or to subscribe for one or more Virtual Assets, and the transmission of that order to a third party for execution, in accordance with applicable VARA licensing conditions and operational requirements.
2.2.5. Providing custody and administration of crypto-assets on behalf of clients – safekeeping or controlling, on behalf of clients, of crypto-assets or the means of access to such crypto-assets (e.g., private cryptographic keys). Pitex ensures that, in accordance with Dubai data localisation rules, all custody activities are performed within the UAE and using approved infrastructure.
2.2.6. Exchange of crypto-assets for funds – concluding purchase or sale contracts concerning crypto-assets with clients for funds using proprietary capital. This service is only provided under a VARA-licensed spot market/fiat conversion service framework and through authorised payment service providers.
2.2.7. Exchange of crypto-assets for another crypto-asset – concluding purchase or sale contracts concerning crypto-assets with clients for other crypto-assets using proprietary capital (swap services). This service is provided in full compliance with VARA’s swap/exchange regulations and in accordance with the platform’s approved matching engine standards.
2.3. You acknowledge and agree that Services may be provided in compliance with applicable law, engaging Pitex FZE, affiliated entities licensed in the UAE, and other VARA-approved partners. In accordance with Dubai data localisation requirements, all Personal Data and transaction records will be stored and processed within the UAE. No cross-border data transfer will take place unless explicitly permitted by UAE laws and regulations.
2.4. Subject to Applicable Law, We reserve the right to suspend, restrict, or terminate Your access to any or all of our Services and to suspend, restrict, or deactivate Your User Account, including without limitation:
2.4.1. where it is Our reasonable opinion that We are required to do so by Applicable Law, VARA directives, or any competent UAE authority;
2.4.2. upon reasonable suspicion that You may be in breach of these Terms or are otherwise trying to circumvent these Terms such as abusing any of Our incentive schemes;
2.4.3. upon reasonable suspicion that a transaction is fraudulent;
2.4.4. upon reasonable suspicion that Your User Account has been compromised or the Services are being used in a fraudulent or unauthorized manner;
2.4.5. upon reasonable suspicion of money laundering, terrorist financing, fraud or any other financial crime; or
2.4.6. upon reasonable suspicion that You are conducting any fraudulent or illegal activities.
2.5. Payment services are provided exclusively through CBUAE-licensed and VARA-approved third-party payment service providers authorised to operate within the UAE. By using such payment services, You agree to be bound by the terms of use and privacy policies of these providers. The list of approved providers will be made available on Our website and may be updated from time to time in accordance with applicable UAE regulations.
3.1. As soon as You click “Agree” or otherwise confirm Your acceptance electronically, these Terms will enter into force and form a legally binding agreement between You and Pitex FZE, a VARA-licensed entity operating in the United Arab Emirates. By doing so, You certify that You have read, understood, and agreed to be bound by these Terms, the Privacy Policy, the AML/CFT Policy, any specific policies applicable to each Service, and any other applicable notices or guidelines issued in accordance with UAE laws and VARA regulations.
3.2. We reserve the right, at any time, to change, update, supplement, or terminate these Terms in order to comply with UAE federal laws, VARA directives, and any other applicable regulatory requirements. Any such changes will become effective upon their posting on our official website and/or mobile application, unless otherwise required by law to notify You in advance. The effective date displayed at the top of the Terms will indicate the latest version. We recommend that You periodically review these Terms to stay informed of any changes.
3.3. Your continued use of the Services following the posting of any amendments will constitute Your acceptance of the revised Terms, Privacy Policy, AML/CFT Policy, and other applicable policies and notices, including all changes made in compliance with VARA and UAE laws. If You do not agree with the revised Terms or related policies, You must immediately discontinue using the Services.
4.1. In order to access and use all available functionalities of the Services, You must register a User Account and complete the onboarding procedure in full compliance with UAE Federal Law No. 20 of 2018 on Anti-Money Laundering and Countering the Financing of Terrorism, Cabinet Decision No. 10 of 2019, and VARA’s Know-Your-Customer (KYC) and Customer Due Diligence (CDD) requirements. When registering a User Account, You agree to provide all data, documents, and information necessary to fulfill authentication, verification, and compliance requirements. This information will be processed solely for the purpose of validating Your identity, assessing Your eligibility, and ensuring compliance with applicable onboarding and regulatory requirements.
4.2. We may, at any time and at our sole discretion, request You to provide additional or updated documentation and/or information — including, but not limited to, enhanced due diligence documents, proof of source of funds/wealth, and live video verification. Failure to comply with such requests may result in temporary or permanent suspension of Services, restriction of certain functionalities, and/or closure of Your User Account. By registering an Account, You warrant that all data and information submitted by You are accurate, valid, up-to-date, and complete.
4.3. You may create a unique Service User Account Public Identifier (nickname). We reserve the right to refuse, suspend, or retract a chosen nickname if it:
(a) potentially violates applicable laws or regulatory requirements; (b) infringes intellectual property rights, including but not limited to trademarks or trade names; (c) breaches Our internal policies; or (d) is otherwise deemed inappropriate by Us.
If a nickname is retracted, Your User Account registration or continued access to Services may proceed, provided that You select an alternative nickname that complies with these requirements.
4.4. By signing up to use the Services, You represent and warrant that:
4.4.1. You are at least 18 years of age, or of the legal age required to form a binding contract under the laws of the United Arab Emirates or other applicable jurisdiction (for individuals).
4.4.2. You have full legal capacity and authority to enter into a binding agreement and use the Services, and are not prohibited from doing so under any applicable laws, regulations, court orders, or other legal restrictions.
4.4.3. Your use of the Services will not violate any applicable laws or regulations, including but not limited to UAE Federal Law No. 20 of 2018 on Anti-Money Laundering and Countering the Financing of Terrorism, Cabinet Decision No. 10 of 2019, anti-corruption regulations, and other relevant international standards.
4.4.4. You are residing or incorporated in a country or territory supported by Us and are not a citizen, resident, or otherwise subject to the jurisdiction of any country or territory included on:
4.4.5. You are not using the Services on behalf of, or for the benefit of, any entity or individual included in such sanctions lists.
4.5. We reserve the right, at Our sole discretion, to refuse to provide the Services if We have any reasonable suspicion that Your activities are connected to, or intended for:
4.6. A User Account in which no transactions have been conducted for a period of one (1) year or more shall be classified as an Inactive Account upon prior notice to You. In such cases, We are entitled to charge a monthly fee of twenty (20) USDT, or the equivalent value in any supported assets.
4.7. The balance of an Inactive Account shall not fall below zero.
4.8. If the balance of an Inactive Account is less than the monthly Inactive Account fee, We may deduct the remaining balance in full and close the Inactive Account permanently.
5.1. All Services are provided exclusively through the Pitex mobile application and website or other officially authorized Pitex platforms, in accordance with Applicable Law and the regulations of the Virtual Assets Regulatory Authority (VARA).
5.2. All Services are subject to these Terms, the Privacy Policy, the AML/CFT Policy, and any specific service-level policies.
5.3. Services such as Exchange of crypto-assets for funds, Exchange of crypto-assets for another crypto-asset, and Providing transfer services for crypto-assets on behalf of clients may experience delays due to:
We will make commercially reasonable efforts to resolve such delays promptly.
5.4. Services listed in Clause 5.3 are final and irreversible once executed on the blockchain and cannot be canceled, reversed, or refunded.
5.5. All deposits must originate from a payment method (e.g., bank account, bank card, wallet) registered in Your name and verified under Our KYC procedures.
Deposits from third-party sources are strictly prohibited and may result in the transaction being rejected, the funds being returned (less applicable fees), and/or account suspension in accordance with AML/CFT regulations.
5.6. Once Transaction Details have been broadcast to the blockchain, We cannot cancel, amend, or refund the transaction.
5.7. You may be required to pre-fund Your User Account with crypto-assets or fiat funds before initiating certain Services.
5.8. If Your transactions result in a negative balance, You must immediately fund Your account to cover the outstanding amount.
5.9. Applicable service fees are clearly displayed before You confirm a transaction, and You agree to pay all such fees.
5.10. Withdrawals are executed according to the payment details You provide. You are solely responsible for ensuring the accuracy of these details, including wallet addresses, asset types, and blockchain networks.
5.11. We are not responsible for any incorrect use of the payment details provided by Us for deposits (incoming transfers), such as wallet addresses and asset types. You are solely responsible for ensuring the correct use of such details, and You accept full liability for any consequences arising from errors. While We will make reasonable efforts to assist in the recovery of crypto-assets sent to incorrect or unsupported addresses, there is no guarantee of recovery. Any recovery attempt may be subject to additional fees, which will be determined at Our sole discretion depending on the circumstances.
5.12. In cases where You leave Your device or the Pitex application unlocked, fail to log out after use, share Your access credentials (including but not limited to passwords, PIN codes, biometric access data, or multi-factor authentication codes) with any unauthorized person, or otherwise neglect to take reasonable and industry-standard precautions to safeguard Your device, application, or User Account, You shall bear full legal and financial responsibility for any unauthorized access, transactions, or actions performed through Your account. In accordance with applicable laws and regulations of the United Arab Emirates, including the provisions set forth by the Dubai Virtual Assets Regulatory Authority (VARA) and relevant federal legislation, such negligence may be treated as a breach of security obligations and may result in immediate suspension or termination of Services, freezing of assets, and mandatory reporting to competent authorities. Pitex shall have no liability for any loss, damage, or unauthorized transaction resulting from such negligence, and reserves the right to recover from You any direct or indirect losses, investigation costs, and compliance-related expenses incurred due to such incidents.
5.13. You have access to Your User Account only through the methods that You used when registering Your User Account.
5.14. If You lose access to Your phone, device, or User Account for any reason, including but not limited to theft, loss, damage, hacking, or unauthorized access, You must notify Pitex immediately through the official support channels specified in these Terms. Failure to provide such immediate notification may result in the inability to secure Your User Account or protect Your digital assets. In accordance with the laws and regulations of the United Arab Emirates, including the Virtual Assets Regulatory Authority (VARA) framework and relevant federal legislation, We reserve the right to freeze the account, block all ongoing transactions, and initiate enhanced security and verification procedures to prevent further unauthorized use. Until such notification is received, We cannot guarantee the safety or recovery of Your assets, and any losses, damages, or unauthorized transactions that occur will remain Your sole responsibility. Pitex may also be required to report the incident to the competent authorities as part of its compliance obligations under applicable AML/CTF regulations.
5.15. If You lose Your phone/device and/or access to Your phone number and/or email address, in order to restore access to Your User Account, You must immediately contact Pitex Support through the official communication channels specified in these Terms. You will be required to undergo a full identification and verification process in accordance with the laws and regulations of the United Arab Emirates, including the Virtual Assets Regulatory Authority (VARA) framework and applicable AML/CTF rules. As part of this process, You must provide clear and verifiable proof that the phone/device and/or phone number and/or email address belong to You, which may include government-issued identification, biometric verification, or other acceptable documentation. Pitex reserves the right to deny restoration of access where the evidence provided is insufficient, appears fraudulent, or fails to meet the security standards required under applicable UAE laws. In cases of suspected fraud or unauthorized access, We may also be obligated to report the matter to the competent authorities before reinstating Your account access.
5.16. Blockchain networks are decentralized peer-to-peer systems that are not owned, operated, or controlled by Pitex. You acknowledge and understand that the underlying protocols of such Blockchain networks may be subject to vulnerabilities, bugs, forks, cyberattacks, protocol changes, network congestion, or other unforeseen events beyond Our control. These events may result in delays, failed transactions, or the permanent loss of Your Virtual Assets. While Pitex applies industry best practices and security measures in accordance with the laws and regulations of the United Arab Emirates, including the Virtual Assets Regulatory Authority (VARA) framework, We cannot be held liable for any direct or indirect losses arising from such circumstances. You bear sole responsibility for understanding the operational mechanics, risks, and potential impacts of using Blockchain networks prior to initiating any transactions through Our Services.
5.17. We cannot guarantee the execution or timely completion of a transaction in cases where delays occur due to the relevant Blockchain or Virtual Asset network used to process the transaction. Such delays may result from factors beyond Our control, including network congestion, low transaction fees set by You, protocol changes, maintenance periods, or other technical issues within the network. While Pitex will make all reasonable efforts in accordance with the laws and regulations of the United Arab Emirates, including VARA’s applicable rulebooks, to ensure the proper initiation and monitoring of transactions, the final settlement and confirmation of transactions remain subject to the operational status and rules of the underlying network. You acknowledge and accept that any such delays or failures are inherent risks of Blockchain technology and fall outside Our liability.
5.18. We provide You with access to a wide range of Virtual Assets approved for listing on the Pitex platform, in accordance with the applicable laws and regulations of the United Arab Emirates, including the Virtual Assets and Related Activities Regulations and VARA’s relevant rulebooks. At the same time, We reserve the right, at Our sole discretion, to suspend, restrict, or permanently terminate support for any Virtual Asset (delisting) without prior notice where required for regulatory compliance, risk management, security concerns, market integrity, or other legitimate business purposes. Where feasible and permitted by Applicable Law, We will provide You with notice of delisting and guidance on the withdrawal or conversion of such Virtual Assets. You acknowledge and agree that delisting decisions may be mandated by regulatory authorities, and We shall bear no liability for any losses resulting from such actions.
5.19. For certain Virtual Assets, delisting may occur based on compliance requirements under applicable laws and regulations of the United Arab Emirates, including directives from the Virtual Assets Regulatory Authority (VARA), changes in the Approved Virtual Assets List, or other mandatory regulatory actions. In such cases, We will make reasonable efforts—where legally permissible—to notify You in advance and provide instructions for the withdrawal or conversion of the affected Virtual Asset. You acknowledge and agree that compliance-driven delistings may be immediate and without prior notice if required by law, and We shall not be liable for any resulting losses.
5.20. If a Virtual Asset is delisted, You will have a reasonable period specified by Us—unless otherwise required by applicable UAE laws or by the Virtual Assets Regulatory Authority (VARA)—to exchange or withdraw such assets. After this period, any remaining assets will not be recoverable and will not be subject to refund or compensation.
5.21. We operate on the principles of equality and non-discrimination while taking into account Your specific characteristics and applicable jurisdictional requirements. We reserve the right to establish specific terms for the provision of certain services where necessary to ensure compliance with UAE federal laws, free zone regulations, VARA rulebooks, anti-money laundering (AML) and counter-terrorist financing (CTF) obligations, and other applicable legal or regulatory requirements.
6.1. You use the Services at Your own discretion and responsibility.
6.2. The Services are provided on an “AS IS” and “AS AVAILABLE” basis, without any warranty, except as required by applicable UAE law.
6.3. You are responsible for any loss of Your passwords, private keys, or authentication credentials due to Your actions. We cannot be held liable for losses caused by Your negligence or by any unauthorized access to Your assets resulting from such loss. We also cannot be held liable for any harm caused by phishing attacks.
6.4. You are responsible for any harm caused by Your actions, including regulatory breaches.
6.5. You are obliged:
6.5.1. to comply with the laws of the country in which You reside and with Your obligations under these Terms;
6.5.2. to ensure the security of all data required to access Your User Account;
6.5.3. to prevent unauthorized actions by third parties and safeguard access credentials;
6.5.4. to refrain from actions that may disrupt the normal operation of the Services or breach UAE cybersecurity regulations;
6.5.5. not to distribute any malicious software, viruses, or harmful components;
6.5.6. not to endanger the property, health, safety, or rights of individuals, legal entities, or governments;
6.5.7. not to engage in illegal, fraudulent, or prohibited transactions, including those contrary to UAE and VARA rules.
6.6. We are not responsible for:
6.6.1. the accuracy of the data transmitted by You;
6.6.2. interruptions or lack of access to the Services beyond Our control;
6.6.3. any act or omission by You or by third parties;
6.6.4. power failures, data transmission or internet issues not attributable to Us;
6.6.5. infringement of third-party rights due to Your actions;
6.6.6. loss of account access data due to Your actions or negligence.
6.7. We shall not be liable for any direct, indirect, incidental, special, or punitive damages, including but not limited to loss of profits, data, goodwill, or business interruption, arising from:
6.7.1. Your use of the Services;
6.7.2. unauthorized access, use, or alteration of Your transactions or content, if such access occurred due to Your actions or negligence.
6.8. You agree to comply with all applicable laws, including but not limited to UAE federal laws, free zone regulations, VARA rulebooks, securities and financial market laws, AML/CTF regulations, consumer protection laws, and any applicable directives from relevant authorities. We will not be liable for any violations of law by You.
7.1. If You are resident or registered in a country that is included in international sanctions lists—including but not limited to those maintained by the United Nations, the UAE Central Bank, the Office of Foreign Assets Control (OFAC), the European Union, and any other competent regulatory authority—and/or if the use of the Services contradicts the laws of the country where You are resident/registered, You are prohibited from using the Services.
8.1. We will not be liable for delays, performance failures, or service interruptions that result from any cause beyond Our reasonable control, including but not limited to natural disasters, acts of civil or military authorities, acts of terrorism, civil disturbances, wars, labor disputes, fires, telecommunications or internet failures, hardware or software failures, regulatory actions, emergency compliance directives, or any other occurrence beyond Our control.
9.1. All text, graphics, patents, data, formatting, drawings, HTML, images, software, mobile applications, APIs, and other content (collectively, “Proprietary Material”) made available through Our Services or Website belong to Us and are protected under applicable intellectual property laws.
9.2. You may not use, copy, modify, distribute, transmit, display, perform, reproduce, publish, license, or create derivative works from the Proprietary Material without Our prior written consent, except as expressly permitted by applicable law.
10.1. This Agreement remains in effect as long as You maintain a User Account, unless terminated earlier in accordance with these Terms.
10.2. You may close Your User Account provided that all obligations to Us have been fully settled.
10.3. Before closing Your User Account, You must withdraw all Your assets to external wallets. If Your account is closed without withdrawal, and such closure results from a regulatory order or VARA directive, remaining assets may be frozen, confiscated, or transferred in accordance with applicable UAE law.
10.4. Closing Your Account does not terminate Your obligations to Us that arose prior to or after closure. We reserve the right to demand fulfillment of such obligations and to take enforcement actions as permitted by law.
10.5. Your relationship with Us and Your use of Services is subject to the laws, regulations, and rules of competent authorities in the UAE and any other relevant jurisdiction. By agreeing to these Terms, You undertake to comply with and be legally bound by any applicable law, including VARA rulebooks and related guidance.
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