MOVEMONEY TERMS OF USE

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Last Updated on July 21, 2024

INTRODUCTION

MoveMoney is a mobile application that lets you send funds with lightning speed. It works by allowing you to load funds quickly and easily into the application through purchasing a U.S. dollar-pegged digital asset issued by MoveMoney (“Digital Assets”), and the use of a secure self-custody wallet built on the blockchain that you control (your “Account”). You can then use MoveMoney to send funds to other approved users in the MoveMoney network. 

MoveMoney is offered by CFX Labs Inc. and its affiliates (“MoveMoney,” “we,” “our,” “us”). We are a Delaware company, headquartered in Chicago. We are registered as a Money Services Business with the United States Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN” - #31000234678229). We are, however, NOT yet a licensed money transmitter in all U.S. states and may not be able to offer services to residents of certain states. MoveMoney has those licenses listed on its website. We retain sole discretion to offer the Services to You or to discontinue your access to the same.  

WHAT IS THIS DOCUMENT?

These are the Terms of Use (the “Terms”) that govern the use of the MoveMoney website, mobile application, and other products and services offered by us (the “Services”). These Terms, together with our Privacy Policy and all supplemental terms (as amended from time to time), other documents, agreements, and policies that are expressly referenced in these Terms, govern your use of the Services. These Terms apply to all users of the Services. 

Please read these Terms carefully. These Terms form a legally binding contract between you and us. By clicking on the “accept” button during sign-up, by accessing or otherwise using any Services in any way, or by merely accessing the website, you agree to be bound by these Terms as well as any other applicable terms and conditions or agreements you enter into with us regarding your use of any portion of the Services. If you do not agree to these Terms, you cannot use the Services.

CHANGES TO THESE TERMS

We may change these Terms for any reason, including to reflect: (a) changes in applicable laws; (b) regulatory or security requirements; (c) relevant guidance or codes of practice; (d) technical alterations to the Services; and/or (e) improvements for clarity and consistency. 

Please check these Terms frequently. If changes are made to these Terms, we will update the date listed for “Last Updated” at the top of these Terms. We will treat your continued use of the Services as acceptance of any changes made to the Terms from the previous version. If you do not agree with the changes, you should stop using the Services.

ARBITRATION NOTICE

In most cases if there is a dispute between us, it will be arbitrated. Additional details are below in the “MANDATORY ARBITRATION” Section.

ELIGIBILITY

The Services are intended only for access and use by individuals at least eighteen (18) years old (or the age of majority in the applicable user’s jurisdiction). By accessing or using any of the Services, you represent and warrant that you are at least eighteen (18) years of age (or the age of majority in your jurisdiction) with the full authority, right, and capacity to enter into this agreement. 

The Services are intended only for use in jurisdictions where such use would comply with all applicable laws, rules, and regulations. You may not use the Services in, or otherwise with respect to, any location or jurisdiction where it is prohibited by applicable laws, rules, and/or regulations. We make no representation that the Services are appropriate or available for use in any specific jurisdictions. Access to the Services from countries or territories or by individuals where such access is illegal is expressly prohibited.

SUPPORTED JURISDICTIONS

MoveMoney can only buy and sell Digital Assets from users in specific jurisdictions. Currently, only users located in the following U.S. states (and districts) can purchase Digital Assets from MoveMoney: Arizona, California, District of Columbia, Florida, Illinois, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, New Hampshire, New Mexico, North Carolina, North Dakota, Oregon, Pennsylvania, Utah, Virginia, Wisconsin, and Wyoming. MoveMoney will update this list when the Services become available in additional states. 

Currently, users can sell Digital Assets to MoveMoney and/or its local partners for fiat money only in the foregoing states, Mexico, and Brazil. Together, these specific states and foreign countries are referred to as the “Supported Jurisdictions.”

OVERVIEW: HOW DOES MOVEMONEY WORK?

MoveMoney is a browser-based mobile application that uses blockchain technology to allow users to send funds, with lightning speed, to others in our MoveMoney network.

MoveMoney works by leveraging blockchain technology. When you sign-up for MoveMoney, we create an Account for you, which is a unique self-custody cryptocurrency wallet built on the Solana blockchain. When you add funds to your Account, you are buying Digital Assets that are issued and sold by MoveMoney. You control your Account and your Wallet Assets (defined below) through your mobile or desktop device, which works like your private key. You can then use MoveMoney to send your Wallet Assets to anyone who has joined the MoveMoney network.  

MoveMoney relies on a host of software and other partners, including a host of financial institution partners (collectively, the “Partners”). Use of the Services may require you to adopt or accept certain Partners’ terms and conditions or to enter into a separate agreement with those Partners. MoveMoney is not a party to those third-party terms or agreements. However, failure to accept those terms or agreements may prevent You from accessing or utilizing the Services.  

In summary:

• MoveMoney is a technology service that helps users create and secure their own self-custody cryptocurrency wallet, built on the Solana blockchain.
• When you deposit funds, you are purchasing Digital Assets issued by us. More about that below.
• We are not a custodian. We do not hold your funds. You are in control of the Digital Assets that you purchase directly from us. 
• You have full ownership and control over the Account we provide you and the Wallet Assets within it. 
• You can only send (and receive) Wallet Assets to (and from) other users of the MoveMoney network. 
• Recipients of Digital Assets can sell them back to us, or to other companies, via our in-country payments providers.

SIGNING UP FOR MOVEMONEY

KYC and Onboarding. 

To help the U.S. government fight the funding of terrorism and money laundering activities, federal and state law requires financial institutions, including money services businesses and banks, to obtain, verify, and record information that identifies every customer. In order to use the Services, therefore, you must first go through our customer on-boarding process and be approved to use the Services (“KYC Verification”). We will perform KYC Verification either ourselves or through a third-party service provider, which will include collecting and verifying identification and ownership information and documents provided by you. As part of our KYC Verification we may ask you for your name, phone number, address, date of birth, and other personally identifying information, such as your social security number (SSN), an alternative government-issued identification number, an Employer Identification Number (EIN), a copy of a government-issued photo identification card, and/or a copy of an alternative photo identification card, to identify you. We may also ask to see other identifying documents, including, but not limited to, business or source of funds related documents.

When you create an Account with us, you represent and warrant that the information you provide to us is accurate, complete, and current at all times. You are prohibited from attempting to register for multiple accounts; each user is allowed only one account. Accessing the Services via a virtual private network or “VPN” to obscure your location is prohibited. Attempting to evade KYC Verification in any way, or otherwise providing inaccurate, incomplete, or obsolete information may result in the immediate and permanent termination of your Account. 

We have further outlined the data and information which may be collected as part of this KYC Verification in our Privacy Policy. You acknowledge and agree that we may use the information and documents collected as part of the KYC Verification to work with third parties as necessary to verify your identity and to determine that you are eligible to use the Services. You agree to provide us with the information we request (which we may request at any time we deem necessary) for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime. If you decline to provide us with the information that we request or if we cannot verify your identity, then you will not be able to use some or all of the Services, which may include, without limitation, the ability to make, receive, or transfer payments or transactions beyond certain volume limits.

We may contact you to obtain additional information or documentation relating to KYC Verification and we will not be able to proceed to provide our Services to you until the information requested is provided in a timely manner and to our satisfaction. If you decline to provide us with the information required for KYC Verification or if we cannot verify your identity, you will not have access to our Services. We reserve the right to suspend or terminate your Account or access to the Services if you provide inaccurate, false, or incomplete information relating to KYC Verification.

Creating an Account. Upon approving you to use the Services, we will create an Account for you, a secure self-custody wallet linked specifically to you and your phone. Each user may register only one Account. To create an Account, you must provide a mobile phone number that you regularly use and intend to use regularly. You may not create an Account with a landline phone number or Google Voice number. The Account will have the ability to store certain Digital Assets. We assume no responsibility in connection with any attempt to store or use digital currencies that our Services do not support. 

Self-custody wallets work by generating and storing “private keys” that allow you to securely store your Wallet Assets. Each private key corresponds to a public key. A public key is also referred to as a wallet address. The public and private keys are used together to transact on the blockchain. This public-private key pair is unique. All components used to generate keys are personal to you and you only. The private key is used on your device while you are logged in to MoveMoney. You always maintain control of the ownership and access to the keys, as it is linked to your mobile phone number.

MoveMoney Directory. Once an Account is created, registered users will be listed in the directory and can be searched for through our search function. If you do not want to be listed in the directory, you may contact us at hello@cfxlabs.com to request your removal from the directory.

Contact Information. You are responsible for keeping your contact details such as your email address and phone number up to date. This will help you receive any notices or alerts that we may send to you and assist other MoveMoney Account holders find you quickly in the MoveMoney directory (if you choose to allow that access).

Account Security. You agree to keep your private key safe at all times and not to disclose it to any other person. You are fully responsible for all activities on your Account (including the activities of all persons who use your mobile-device to gain access to your Account) and for complying with any licenses granted in these Terms. You are expressly prohibited from allowing anyone else to use your Account. We may immediately suspend or terminate your Account if someone else uses it. 

To help ensure the security of your Account, you must keep your computer and/or mobile-device (as applicable) secure and free of viruses and other malicious code including trojan horses, worms, time bombs, malware, and spyware.

If you become aware of any breach of security, unauthorized use of your Account, or if you believe you have lost the device upon which the Services are installed or accessible, you should immediately contact us at hello@cfxlabs.com. You will remain responsible for your Account until you have notified us.

ADDING FUNDS TO YOUR ACCOUNT AND PURCHASING DIGITAL ASSETS

After you successfully create your Account, you can fund it by following the instructions in our browser-based mobile application. The initial funding options will allow you to purchase Digital Assets with cash at one of our partner locations or via Visa or Mastercard debit card. For cash purchases at one of our partner locations, the mobile application will identify nearby location options for you through access to your mobile’s location services. ALL CONFIRMED PURCHASES ARE FINAL; NO REFUNDS, EXCEPT AS REQUIRED BY LAW.

Any balance in your Account represents your ownership of the amount of each type of Digital Assets shown. When you view your Account balance, we will show you the amount of each Digital Assets that you hold.

Your Account and the related wallet allow you to store your Digital Assets.  The wallet is provided by Web3Auth, our third-party service provider (the “Wallet Provider”). That wallet is a “self-custodial” wallet. You hold the assembled private keys that control the Digital Assets purchased, not MoveMoney or the Wallet Provider. Just as if you bought a wallet from a department store, you—and you alone—have access to and control over the wallet. MoveMoney does not have control or access to the contents of your wallet. Accordingly, if you lose the access credentials needed to access your wallet or the Digital Assets contained within, that is not MoveMoney’s or our Wallet Provider’s responsibility or fault. In addition, unlike a bank account or other centralized financial services or products, MoveMoney does not store or memorialize account activity in account statements. Again, you and you alone are responsible for tracking the contents of your wallet and all transactions, including managing the tax treatment of the same. Aspects of purchase and sale transactions are recorded on the public blockchain that underlies the respective tokens, but we do not administer or control that blockchain. We may keep records for our own purposes of sales of Digital Assets to you or purchases of those Digital Assets, but those records are for our own records and use. 

You expressly acknowledge and agree that your Account is a self-custody wallet and that you are solely responsible for safeguarding, protecting, and using the wallet. Likewise, you own and control all Digital Assets held in your Account (“Wallet Assets”). As the owner of your Wallet Assets, you bear all risk of loss; we will have no liability for any fluctuations or loss associated with your use of our Services.

MOVEMONEY U.S. DOLLAR DIGITAL ASSET

We call the U.S. dollar-pegged proprietary digital asset issued by MoveMoney “fxUSD.” fxUSD is a digital token issued by us that operates on the Solana blockchain. Each fxUSD token is designed to maintain a value of USD $1. Each fxUSD token is fully backed by the following: 

(a) U.S. dollar-denominated assets (U.S. dollar bank deposits or U.S. Treasuries) held by us with U.S. regulated financial institutions in segregated accounts apart from CFX Labs Inc.’s corporate funds, on behalf of, and for the benefit of, MoveMoney users (the “Segregated Accounts”); and

(b) some percentage of the value of the fxUSD tokens represented by funds in transit representing purchases of fxUSD that have yet to arrive in our accounts. 

Said another way, a percentage of each fxUSD stablecoin is backed by funds in the Segregated Accounts, while another percentage is backed by money paid by customers on its way to those accounts. 

fxUSD and any other Digital Assets issued by us are not designed to intrinsically create returns for Account holders, increase in value, or otherwise accrue financial benefit to Account holders. We may hold reserve assets in a manner that generates interest and other earnings, in which case, you agree that we may deduct from the assets held to support fxUSD the amount of any such interest and earnings attributable or allocable to the assets backing your fxUSD. You are not entitled to any interest or other earnings that may be generated on the assets backing your fxUSD.

If you sell any fxUSD to us, we guarantee that the price will always be exactly $1 USD for one fxUSD token (not including transaction fees as discussed below). We do not guarantee to purchase fxUSD for any specific price in any currency other than U.S. dollars. 

TRANSFERS

You may transfer Wallet Assets to another user at your initiation or in response to a user’s request for funds. You also have the ability to request funds from another Account holder. You understand and acknowledge that Account holders to whom you send requests to may reject or ignore your request. We do not guarantee that you will receive funds from other users by sending a request, or that you will receive the amount that you request. We reserve the right, but assume no obligation, to terminate your ability to send requests for funds in general, or to specific recipients, if we deem such requests to be potentially unlawful, abusive, offensive, or unwelcome by the recipient. Since the Account is a self-custody wallet, only you have the authority to initiate transfers from your Account. To initiate and complete transfers via our Services, both you and the recipient must be Account holders. If the recipient does not have an Account, you may initiate a transfer to the recipient by directing the transfer to their phone number. The recipient will then receive an SMS notification of the transfer to accept, which is available to them upon their completion of two-factor authentication, acceptance of these Terms, and the requested KYC Verification (at which time the recipient has created an Account). Transfers from your Account are prohibited to recipients outside of the Services. 

When you initiate a transfer, you are instructing your wallet to debit your Account by the amount you specify, and to send those funds from your Wallet Assets to your designated recipient immediately upon your request. You understand and agree that when you initiate a transfer, processing will begin, and funds will leave your Account as early as the moment you initiate the transfer.

You accept all risks and consequences of sending funds via MoveMoney. TRANSFERS ARE FINAL. YOU CANNOT CANCEL, REVERSE, OR CHANGE ANY TRANSFER MARKED AS COMPLETE OR PENDING. IF YOUR TRANSFER IS NOT SUCCESSFUL OR IF YOU HAVE INSUFFICIENT WALLET ASSETS, YOU AUTHORIZE US, IN OUR SOLE DISCRETION, TO CANCEL THE TRANSFER. YOU ARE RESPONSIBLE FOR MAINTAINING AN ADEQUATE BALANCE IN ORDER TO AVOID NON-SUFFICIENT FUNDS. 

You are prohibited from transferring Wallet Assets to cryptocurrency wallets outside of those issued by MoveMoney (or those payment service providers affiliated with MoveMoney and the Services). You are prohibited from using your MoveMoney Account to receive assets from a wallet that is not registered with MoveMoney. 

SELLING TOKENS IN SUPPORTED JURISDICTIONS

MoveMoney has enabled users to sell Digital Assets to us or to our local partners only in the Supported Jurisdictions. A list of supported jurisdictions is available on our website and is above. The process for a recipient to sell tokens in each Supported Jurisdiction may vary. To take advantage of this functionality, users in supported jurisdictions must either connect their Account to a local bank account via the MoveMoney app or connect to a local payments partner who will purchase tokens from the user in the local currency and/or remit funds to the user’s designated recipient. 

In jurisdictions where users can connect a bank account directly to their MoveMoney app, users are permitted only to connect bank accounts that they own and control and which are based in Supported Jurisdictions. A user is prohibited from connecting a bank account owned or controlled by another person. Users are required to certify that they own and control all bank accounts they connect to MoveMoney or its partners.   

MoveMoney does not guarantee that we will purchase or redeem fxUSD tokens from you in any Supported Jurisdiction, and we do not guarantee the availability of local partners to buy your tokens. In jurisdictions where local payouts are provided, MoveMoney does not guarantee the time it will take for it or its local partners to process a transaction, and users should plan for a default 3-5-day processing time. 

For all user sales of Digital Assets to MoveMoney, we will provide current pricing information for the chosen local currency. You may then accept the pricing which is displayed and choose to proceed with the sale, or you may cancel the sale. We do not guarantee any particular exchange rate and fees may apply. You agree to pay all applicable exchange rates (including spread) and fees. 

FEES AND PRICING

Our current pricing information may be viewed through the mobile application. Any pricing information is subject to change at any time and, as such, any pricing information provided is for informational purposes only. Any pricing information provided to you does not represent any advice regarding, or a recommendation to enter into, a transaction with us.

By using the Services, you agree to pay all applicable fees, including but not limited to transfer fees. We reserve the right to adjust our pricing and fees and any applicable waivers at any time. Fees are non-refundable unless otherwise specifically provided for in these Terms. 

You are solely responsible for your use of the Services, including the reporting and paying of any taxes which may apply to or otherwise arise from your use of the Services. We are not responsible for determining whether any taxes apply to your transfers, purchases, or sales, or for calculating, collecting, reporting, or remitting taxes arising from any transfers, purchases, or sales. 

LIMITS ON USE

We review Wallet Assets and Account activity at various times. This review checks for, among other things, suspicious or illegal activity, and whether your Account activity and the activity of users with whom you have transacted comply with these Terms. We may limit your Account and your access to your Wallet Assets until verification is completed.

Furthermore, we may (with or without notice and without liability to you): (1) refuse to honor, process, or complete any instruction, request, or transaction; and/or (2) suspend, deactivate, or discontinue your access to your Account or the Services. We may do so whenever we suspect fraud or for whatever other reason, in our sole discretion.

We may also, at our discretion, impose limits on the amount and/or the number of transfers or transactions you can send and receive. 

FUNCTIONING OF SERVICES

We will make reasonable efforts to maintain the operation of the Services. You understand and agree that, from time to time, the Services may be unavailable, inaccessible, or otherwise inoperable for any reason and that we do not provide any representations, warranties, or guarantees regarding the availability or usability of the Services. We reserve the right to modify or withdraw, including by way of regular updates, the Services and we may have to suspend operation of any Services, in our sole discretion, without notice for repair, maintenance, improvement, security, or any other reason. We cannot accept responsibility for such suspensions, interruptions, or errors caused by circumstances outside of our reasonable control. You acknowledge and agree that we may amend, modify, upgrade, disable, replace, or discontinue some or all of the Services at any time and in our sole discretion without obligation or liability to you. 

We cannot guarantee that any Services will work on or be compatible with or capable of being accessed on any particular devices, platforms, operating systems, or equipment, or in conjunction with any particular software or connectivity services not approved by us. We do not accept responsibility for such equipment, software, or services. We also do not guarantee that the Services can be accessed in all geographic locations.

FORCE MAJEURE 

We have no liability for any failure or delay resulting from any condition beyond our reasonable control, including but not limited to governmental action or acts of terrorism, earthquake, fire, flood, or other acts of God, labor conditions, power failures, equipment failures, and Internet disturbances.

RISKS OF USING THE SERVICES

DIGITAL ASSETS ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC), THE SECURITIES INVESTOR PROTECTION CORPORATION (SIPC), THE CALIFORNIA DEPARTMENT OF FINANCIAL PROTECTION AND INNOVATION, OR ANY OTHER PUBLIC OR PRIVATE INSURER, INCLUDING AGAINST CYBER THEFT OR THEFT BY OTHER MEANS. CRYPTOCURRENCY ACTIVITY IS NOT A REGULATED ACTIVITY IN MANY STATES, INCLUDING CALIFORNIA. THE VALUE OF DIGITAL ASSETS CAN BE EXTREMELY VOLATILE AND UNPREDICTABLE, WHICH CAN RESULT IN SIGNIFICANT LOSSES IN A SHORT TIME, INCLUDING POSSIBLY A LOSS OF TOTAL VALUE. THE PRICE AND LIQUIDITY OF DIGITAL ASSETS HAS BEEN SUBJECT TO LARGE FLUCTUATIONS IN THE PAST AND MAY BE SUBJECT TO LARGE FLUCTUATIONS IN THE FUTURE. BUYING AND SELLING DIGITAL ASSETS IS INHERENTLY RISKY, AND YOU SHOULD CONSIDER THE RISKS BEFORE DECIDING TO BUY OR SELL DIGITAL ASSETS.

By accessing and/or using the Services, you represent and warrant that you understand the inherent risks associated with cryptographic systems and blockchain-based networks, and other digital assets. We do not own or control the underlying software through which blockchain networks are formed or smart contracts are deployed, which software is typically open-source. You understand and agree that (i) we are not responsible for the operation of the software or the networks underlying the Services, (ii) we do not guarantee the functionality, security, or availability of the software or networks, (iii) the underlying networks are subject to sudden changes that may materially impact the Services, and (iv) we are not responsible for any such underlying networks or software or the impact these networks and software have on the Services. 

Control of the Network. MoveMoney does not own or control the underlying software protocols which govern the operation of cryptocurrency. Generally, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them. We assume no responsibility for the operation of the underlying protocols and do not guarantee the functionality or security of network operations. In particular, the underlying protocols may be subject to sudden changes in operating rules (including “forks”). Any such operating changes may materially affect the availability, value, functionality, and/or the name of Digital Assets in your Account. We do not control the timing and features of these operating changes. It is your responsibility to make yourself aware of upcoming operating changes and you must carefully consider publicly available information in determining whether to continue to use the Services. In the event of any such operational change, we reserve the right to take such steps as may be necessary to protect the security and safety of Digital Assets held on the Services, including without limitation, temporarily suspending operations for the involved cryptocurrency. Our response to any operating change is subject to our sole discretion and may include deciding not to support any new cryptocurrency, fork, or other actions. You acknowledge and accept the risks of operating changes to cryptocurrency protocols and agree that we are not responsible for such operating changes and not liable for any loss of value you may experience as a result of such changes in operating rules. You acknowledge and accept that we have sole discretion to determine our response to any operating change and that we have no responsibility to assist you with unsupported currencies or protocols.

If you attempt to send Wallet Assets to a cryptocurrency wallet outside of the MoveMoney network (or those payment service providers affiliated with MoveMoney and the Services), including those on another blockchain not supported by MoveMoney, your Wallet Assets may become inaccessible or lost forever. We bear no responsibility for losses you may incur as a result.

Private keys. You alone are responsible for securing your private keys and losing control of these private keys may result in a permanent and irreversible denial of access to your Wallet Assets. We will not be responsible for any such loss. The Services and your Wallet Assets may be impacted by regulatory inquiries or actions or changes in law, which could impede or limit the ability for us to make the Services available. You hereby assume and agree that we have no responsibility or liability for the risks set forth herein or other risks inherent in the Services and/or any of the underlying technology relating thereto. You hereby irrevocably waive, release, and discharge all claims, whether known or unknown to you, against us.

Account Security. We are not liable for any damage or interruptions caused by any malware, viruses, or other malicious code that may affect your computer, mobile device, or other equipment, or any phishing, spoofing, or other attack. We advise you to update your device regularly. If you become aware of or suspect: (i) any loss, theft, or compromise of your biometrics, your device, security credentials, or any device paired to your Account, or (ii) any unauthorized use of your Account, you must notify us immediately by emailing hello@cfxlabs.com.

Other risks. Transactions involving cryptocurrencies and digital assets are irreversible. Carefully check all transaction details prior to completing any transaction involving cryptocurrencies or other digital assets. You acknowledge and agree that your use and ownership of cryptocurrencies and other digital assets is at your own risk. Further, you understand, acknowledge, and agree that any cryptocurrencies or other digital assets stored in your Account are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation, the Financial Services Compensation Scheme, or other government or private insurance entities. 

In addition, you acknowledge and accept the following risks associated with any purchase of digital assets: 

• Digital assets are not legal tender, are not backed by the government, and accounts containing digital assets, and any associated value balances, are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections; 
• Legislative and/or regulatory changes, rules, guidance, statutes, or other actions may adversely affect the use, transfer, exchange, or value of digital assets; 
• The value of digital assets depends on myriad factors, including, but not limited to, the continued willingness of market participants to obtain the digital assets in exchange for fiat currency, and, as a result, the market for particular digital assets may disappear;   
• Volatility in the price of digital assets may result in the loss of value over time; 
• Technological difficulties may prevent you from accessing or recovering your digital assets; 
• Wallet providers and other digital asset service providers may not have insurance available for or sufficient to remediate any losses; 
• Service providers may not be in a position to verify the risks or reliability of such third-party systems, and failures in these systems could result in mistakes made in the confirmation or settlement of transactions, or in transactions not being properly booked, evaluated, or accounted for; 
• The valuation of any digital assets is particularly uncertain and complicated; 
• Digital assets are derived from software applications and software platforms, which may still be in an early development stage and unproven, and there is an inherent risk that the software could contain weaknesses, vulnerabilities, or bugs causing, inter alia, the complete loss of the digital assets; 
• Digital assets, exchanges, the underlying protocols, and service providers may be subject to cyberattacks, security risks, risks of security breaches, and possible technological disruptions;  
• A purchaser of digital assets may lose all of his, her, or its assets in a variety of circumstances, including in connection with fraudulent or accidental transactions, technology failures, or cybersecurity breaches; and 
• Any third party that gains access to your private keys, seed phrases, passphrases, or recovery phrases, including by gaining access through login credentials of a wallet service, may be able to misappropriate your digital assets.

NO PROFESSIONAL OR FIDUCIARY DUTIES

All information provided in connection with your access and use of the Services is for informational purposes only and should not be construed as professional, financial, tax, investment, or legal advice. You should not take, or refrain from taking, any action based on any information contained in the Services or any other information that we make available at any time. Before you make any financial, legal, or other decisions involving the Services, you should seek independent professional advice from an individual who is licensed and qualified in the area for which such advice would be appropriate. To the extent not prohibited by applicable law, we do not owe you or any other parties a fiduciary duty or liability and we expressly disclaim any such duty or liability, and you hereby irrevocably disclaim, waive, and eliminate any such duty and/or liability. You further agree that the only duties and obligations that we owe you are those set out expressly in these Terms. 

AVAILABLE ONLY WHERE PERMITTED BY LAW

Services are only offered in jurisdictions where they may be legally offered. Services are not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to local law or regulation. You represent and warrant that your use of the Services will comply with all applicable laws, rules, and regulations, including, without limitation, data privacy and protection laws, anti-money laundering, anti-terrorism, anti-corruption, and export control and economic sanctions laws and regulations. If you are subject to regulations and you use the Services, we will not be liable if the Services do not meet those requirements.

COMMUNICATIONS

By providing your e-mail address, you will be subscribed to newsletters, marketing, or promotional materials and other information we may send. You consent to receive electronic communications from us, and you agree that all agreements, notices, disclosures, and other communications that we provide to you electronically, via email or on the website, satisfy any legal requirement that such communication be in writing. However, you may opt out of receiving any, or all, of these communications from us by unsubscribing or by emailing at hello@cfxlabs.com. 

You are responsible for any fees or other charges that your wireless carrier may charge for any related data, text, or other message services, including without limitation for short message service. Please check your mobile service agreement for details or applicable fees as message and data rates may apply. 

When you access our application on your mobile or desktop device, you agree to receive push notifications, which are messages an application sends to you on your mobile device when you are not in the application. If push notifications are disabled, you can turn them on by visiting your mobile device’s “settings” page. 

YOUR TEXT MESSAGING ORIGINATOR OPT-IN DATA AND CONSENT INFORMATION WILL NOT BE SHARED WITH ANY THIRD PARTIES.  

YOUR AUTHORIZATION TO ELECTRONICALLY RECEIVE ANY AND ALL COMMUNICATIONS ELECTRONICALLY MAY BE A CONDITION OF ACCESS TO AND CONTINUED USE OF THE SERVICES, MEANING THAT IF YOU REVOKE YOUR CONSENT TO RECEIVE SUCH COMMUNICATIONS AND DISCLOSURES ELECTRONICALLY YOU UNDERSTAND THAT YOU MAY NOT BE ABLE TO CONTINUE TO ACCESS OR USE THE SERVICES.

PROHIBITED USES

You may use the Services only for lawful purposes and in accordance with these Terms. You agree not to use the Services:

1. In any way that breaches these Terms or any other agreement between you and MoveMoney.
2. In any way that violates or assists you in violating any applicable national or international law, rule, statute, regulation, by-law, order, protocol, code, decree, or other directive, requirement, or guideline, including, without limitation, any of the foregoing relating to anti-money laundering, anti-terrorism, and anti-corruption.
3. In any way that infringes on MoveMoney’s or any third party’s copyright, patent, trademark, trade secret, or other intellectual property rights.
4. For the purpose of exploiting, harming, or attempting to exploit or harm minors in any way.
5. For the purpose of exploiting any known faults or bugs in the Services.
6. To transfer or otherwise use cryptocurrency, blockchain-based assets, or other digital assets that do not legally belong to you or for which you are not otherwise authorized to transfer or use.
7. If you are included on any sanctions list or are a resident of a sanctioned country.
8. To engage in improper or abusive trading practices.
9. To engage in the provision of any false, inaccurate, or misleading information.
10. To impersonate or attempt to impersonate MoveMoney, a MoveMoney employee, officer, or agent,  another user, or any other person or entity.
11. In any way that infringes upon the rights of others, or in any way is illegal, threatening, fraudulent, or harmful, or in connection with any unlawful, illegal, fraudulent, or harmful purpose or activity.
12. To engage in any other conduct that restricts or inhibits anyone’s use or enjoyment of the Services, or which, as determined by us, may harm or offend MoveMoney or users of the Services or expose them to liability.

Additionally, you agree not to:

1. Use the Services in any manner that could disable, overburden, damage, or impair the Services or interfere with any other party’s use of the Services, including their ability to engage in real time activities through the Services.
2. Modify, reverse engineer, decompile, prepare derivative works of, disassemble, or otherwise attempt to gain access to the source code of the Services.
3. Use any robot, spider, or other automatic device, process, or means to access the Services for any purpose, including monitoring or copying any of the material on the Services.
4. Use any manual process to monitor or copy any of the material on the Services or for any other unauthorized purpose without our prior written consent.
5. Use any device, software, or routine that interferes with the proper working of the Services.
6. Introduce any viruses, trojan horses, worms, logic bombs, or other material which is malicious or technologically harmful.
7. Attempt to gain unauthorized access to, interfere with, damage, or disrupt any parts of the Services, the server on which the Services are stored, or any server, computer, or database connected to the Services.
8. Attack the Services via a denial-of-service attack or a distributed denial-of-service attack.
9. Otherwise attempt to interfere with the proper working of the Services.
10. Share, sell, or buy Accounts. 
11. Persuade or attempt to persuade (including procuring others to persuade) other users to share any Account information.
12. Initiate or complete transfers with users that do not have Accounts.

We will report any such breach to the relevant law enforcement authorities, as applicable, and we will cooperate with those authorities by disclosing your identity to them in accordance with our Privacy Policy. 

INTELLECTUAL PROPERTY RIGHTS, OWNERSHIP, AND RESTRICTIONS

We grant valid Account holders a non-exclusive, non-transferable, non-sublicensable, personal, limited, revocable license, to access and use the Services (as applicable) subject at all times to your strict compliance with these Terms. We reserve all other rights, including all rights, title, and interest in the Services and associated intellectual property rights. 

Except as provided in these Terms, any use or reproduction of the Services or intellectual property therein is strictly prohibited. In the event of any breach of these Terms, your right to use and licenses granted in these Terms will cease immediately without notice from us.

Materials (including without limit all information, content, features, software, data, text, photographs, graphics, sound, and video) placed on any Services or products by us, or on our behalf, are protected by our (or our business partners/suppliers/advertisers or licensors) copyright and other intellectual property rights. You may not use these materials or any Services except in accordance with these Terms.

You acknowledge that all intellectual property and other rights in any Services, including without limitation content in the Services, are and will remain the exclusive property of ours and/or our licensors. As part of the license granted under these Terms, you are only granted limited non-transferrable, non-sublicensable permission (which can be revoked at any time) to use such content or Services, subject to and in accordance with these Terms. Our intellectual property may not be used in connection with any product or service without our prior written consent. All information submitted to us via the Services shall be deemed our property. We will be free to use, for any purpose, any idea, concepts, know-how, or techniques contained in the information you provide to us. We shall not be subject to any obligations of confidentiality regarding submitted information except as expressly agreed by us in our Privacy Policy, by our execution of a confidentiality agreement, or as otherwise required by law. 

We reserve the right to stop offering any Services at any time, either permanently or temporarily, at which point any license granted to you to use the Services or a part thereof will be automatically terminated or suspended. In such an event, we shall not be required to provide refunds, benefits, or other compensation to users in connection with such discontinued elements of the Services unless required by law.

TERMINATION AND ACCOUNT CLOSURE

We may terminate or suspend your Account and bar access to the Services immediately, without prior notice or liability, at our sole discretion, for any reason whatsoever and without limitation, including but not limited to a breach of these Terms. 

We also reserve the right to suspend your Account and bar access to the Services immediately if (i) we believe that any transaction relates to any Prohibited Uses, (ii) we believe the transaction involves money laundering, terrorist financing, fraud, or any other type of crime, (iii) in response to a subpoena, court order, or other government order, or (iv) we believe, in our sole discretion, processing any transaction would expose us, our service providers, or other users to excessive risk.

All provisions of these Terms which by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity, and limitations of liability.

You may close your Account by transferring all Wallet Assets out of your Account and by ceasing use of the browser-based MoveMoney application. The Public Key will remain on the blockchain due to the nature of the blockchain as a digitally distributed, decentralized, public ledger. 

THIRD PARTY SITES AND TECHNOLOGIES

THE SERVICES MAY INCLUDE LINKS TO INTERNET SITES OR RELY ON THE FUNCTIONALITY OF OTHER TECHNOLOGIES SUPPLIED BY THIRD PARTIES. WE MAKE NO PROMISES ABOUT THOSE THIRD-PARTY SITES OR TECHNOLOGIES, OR THEIR CONTENT, PRODUCTS, OR SERVICES, AS THESE ARE OUTSIDE OUR REASONABLE CONTROL.

ANY THIRD-PARTY SITES OR TECHNOLOGIES SUGGESTED ARE NOT ENDORSED, CONTROLLED, OR VERIFIED BY US. WE DO NOT GUARANTEE THAT ANY SUGGESTED TECHNOLOGIES WILL WORK ON YOUR DEVICE OR BE VIRUS FREE. ANY SUGGESTIONS MADE ARE NOT A WARRANTY OF ANY KIND AND WE ARE NOT RESPONSIBLE FOR ANY DISRUPTION, PROBLEM, DAMAGE, DATA LOSS, COST, OR INCONVENIENCE CAUSED BY THE SUGGESTED SITES OR TECHNOLOGIES. WE WILL NOT PROVIDE SUPPORT FOR ANY SITES OR TECHNOLOGIES WHICH ARE NOT OUR OWN. WE EXERCISE NO CONTROL OVER THE COPYRIGHT, PATENT, OR TRADEMARK COMPLIANCE OR LEGALITY OF THE SUGGESTED SITES OR TECHNOLOGIES.

YOU ACKNOWLEDGE AND AGREE THAT WE SHALL NOT BE RESPONSIBLE OR LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS CAUSED OR ALLEGED TO BE CAUSED BY OR IN CONNECTION WITH USE OF OR RELIANCE ON ANY SUCH CONTENT, GOODS, OR SERVICES AVAILABLE ON OR THROUGH ANY SUCH THIRD-PARTY SITES OR TECHNOLOGIES.

WE STRONGLY ADVISE YOU TO READ THE TERMS OF SERVICE AND PRIVACY POLICIES OF ANY THIRD-PARTY SITES OR TECHNOLOGIES THAT YOU VISIT OR USE.

LIABILITY DISCLAIMER

THE SERVICES ARE PROVIDED TO YOU ON AN “AS IS” “AS AVAILABLE” BASIS WITHOUT WARRANTY OF ANY KIND EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. WE MAKE NO WARRANTY AS TO THE ACCURACY, COMPLETENESS, CURRENCY, OR RELIABILITY OF ANY CONTENT OR INFORMATION AVAILABLE THROUGH THE SERVICES OR TO THE OPERATION OF THE SERVICES. YOU ARE RESPONSIBLE FOR VERIFYING ANY INFORMATION BEFORE RELYING ON IT. YOU EXPRESSLY AGREE THAT YOUR USE OF THE SERVICES AND THE CONTENT AVAILABLE ON THE SERVICES IS AT YOUR SOLE RISK. WE MAKE NO REPRESENTATIONS OR WARRANTIES THAT USE OF THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE. WE MAKE NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY, OR AVAILABILITY OF THE SERVICES. YOU ARE RESPONSIBLE FOR TAKING ALL NECESSARY PRECAUTIONS TO ENSURE THAT ANY CONTENT YOU MAY OBTAIN FROM THE SERVICES IS FREE OF VIRUSES.

IN NO EVENT SHALL WE (NOR OUR OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, OR AFFILIATES) BE LIABLE FOR ANY DAMAGES WHATSOEVER, INCLUDING DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES ARISING OUT OF, OR IN ANY WAY CONNECTED WITH, YOUR ACCESS TO, DISPLAY ON, OR USE OF THE SERVICES OR WITH THE DELAY OR INABILITY TO ACCESS, DISPLAY, OR USE THE SERVICES (INCLUDING, BUT NOT LIMITED TO, ANY COMPUTER VIRUSES, INFORMATION, CONTENT, SUBMISSIONS, SOFTWARE, LINKED SITES, PRODUCTS, AND/OR SERVICES OBTAINED OR ACCESSED THROUGH THE SERVICES; OR OTHERWISE ARISING OUT OF THE ACCESS TO, DISPLAY ON, OR USE OF THE SERVICES) WHETHER BASED ON A THEORY OF NEGLIGENCE, CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE, AND EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

The limitations specified in this section will survive and apply even if any limited remedy specified in these Terms is found to have failed of its essential purpose. 

INDEMNIFICATION. 

To the fullest extent permitted by law, you are responsible for your use of the Services, and you agree to hold harmless, defend, and indemnify us, our affiliates, and our and our affiliates’ respective shareholders, directors, managers, members, officers, employees, consultants, agents, and Third-Party Service Providers from and against every claim brought by a third party, and any related liability, damage, loss, and expense, including attorneys’ fees and costs, arising out of or connected with: (1) your use of, or misuse of, the Services or your Account; (2) your violation of any portion of these Terms, any representation, warranty, or agreement referenced in these Terms, or any applicable law or regulation; (3) your violation of any third-party right, including any intellectual property right or publicity, confidentiality, other property, or privacy right; or (4) any dispute or issue between you and any third party arising out of or connected with the Services. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you (without limiting your indemnification obligations with respect to that matter), and in that case, you agree to cooperate with our defense of those claims.

USE OF YOUR PERSONAL INFORMATION

We will use your personal data as set out in our Privacy Policy.

GOVERNING LAW

These Terms are governed by the laws of the state of Delaware. You and we both agree to the exclusive jurisdiction and venue of the state and federal courts in Delaware and stipulate to the fairness and convenience of proceedings in such courts for all disputes arising out of or relating to use of the Services.

MANDATORY ARBITRATION

This Section describes the process for disputes related to the Services.  

If a dispute or problem arises, users should first contact us in the MoveMoney application or via email at hello@cfxlabs.com. If we cannot resolve the dispute or problem, you consent to arbitration. BY USING THE SERVICES, YOU WAIVE THE RIGHT TO A JURY TRIAL.

Complaints. In the event of any dispute or problem please contact us in the MoveMoney application or via email. In the event that your inquiry is not promptly resolved, you may submit an official complaint to us pursuant to this section.

When submitting an official complaint, please set out: (i) the reason for your complaint, (ii) how you would like us to resolve the complaint,  and (iii) any other information you believe to be relevant. We will acknowledge receipt of your complaint within a reasonable amount of time and then a member of our team will review your complaint and will consider it based on the information you have provided and information held by us.

Within 10 business days of our receipt of your complaint we will respond via email explaining how we will: (i) resolve your complaint in the way you requested; (ii) make a determination rejecting your complaint and set out the reasons for the rejection; or (iii) offer to resolve your complaint with an alternative solution.

Notice to California Residents. If you are a California resident, then under California Civil Code Section 1789.3, you may contact the Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs in writing at 1625 N. Market Blvd., Suite S-202, Sacramento, California 95834, or by telephone at +1-800-952-5210 in order to resolve a complaint regarding the Services or to receive further information regarding use of the Services.

Dispute. Except as described below in the Exceptions section, you agree that every dispute arising in connection with these Terms, the Services, or communications from us will be resolved through binding arbitration. Arbitration uses a neutral arbitrator instead of a judge or jury, is less formal than a court proceeding, may allow for more limited discovery than in court, and is subject to very limited review by courts. This agreement to arbitrate disputes includes all claims whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and regardless of whether a claim arises during or after the termination of these Terms. Any dispute relating to the interpretation, applicability, or enforceability of this binding arbitration agreement will be resolved by the arbitrator.

Exceptions. Although we are agreeing to arbitrate most disputes between us, nothing in these Terms will be deemed to waive, preclude, or otherwise limit the right of either party to: (i) bring an individual action in small claims court; (ii) pursue an enforcement action through the applicable federal, state, or local agency if that action is available; (iii) seek injunctive relief in a court of law in aid of arbitration; or (iv) to file suit in a court of law to address an intellectual property infringement claim.

Arbitrator. This arbitration agreement, and any arbitration between us, is subject to the Federal Arbitration Act and will be administered by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules (collectively, “AAA Rules”) as modified by these Terms. The AAA Rules and filing forms are available online at www.adr.org or by calling the AAA at +1-800-778-7879.

Commencing Arbitration. Before initiating arbitration, a party must first send a written notice of the dispute to the other party by certified U.S. Mail or by Federal Express (signature required) or, only if that other party has not provided a current physical address, then by electronic mail (“Notice of Arbitration”). Our address for Notice is: 2045 W Grand Avenue, Suite B, PMB 71816, Chicago, Illinois 60612-1577. The Notice of Arbitration must: (a) identify the name and phone number of the party making the claim; (b) describe the nature and basis of the claim or dispute; and (c) set forth the specific relief sought (“Demand”). The parties will make good faith efforts to resolve the claim directly, but if the parties do not reach an agreement to do so within 30 days after the Notice of Arbitration is received, you or we may commence an arbitration proceeding. If you commence arbitration in accordance with these Terms, we will reimburse you for your payment of the filing fee, unless your claim is for more than US$10,000 or if we have received 25 or more similar demands for arbitration, in which case the payment of any fees will be decided by the AAA Rules. If the arbitrator finds that either the substance of the claim or the relief sought in the Demand is frivolous or brought for an improper purpose (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)), then the payment of all fees will be governed by the AAA Rules and the other party may seek reimbursement for any fees paid to AAA.

Arbitration Proceedings. Any arbitration hearing will take place in the Chicago, Illinois unless we agree otherwise or, if the claim is for US$10,000 or less (and does not seek injunctive relief), you may choose whether the arbitration will be conducted: (a) solely on the basis of documents submitted to the arbitrator; (b) through a telephonic or video hearing; or (c) by an in-person hearing as established by the AAA Rules. During the arbitration, the amount of any settlement offer made by you or us must not be disclosed to the arbitrator until after the arbitrator makes a final decision and award, if any. Regardless of the manner in which the arbitration is conducted, the arbitrator must issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the decision and award, if any, are based.

Arbitration Relief. Except as provided in Section —No Class Actions, the arbitrator can award any relief that would be available if the claims had been brought in a court of competent jurisdiction. The arbitrator’s award shall be final and binding on all parties, except (1) for judicial review expressly permitted by law or (2) if the arbitrator's award includes an award of injunctive relief against a party, in which case that party shall have the right to seek judicial review of the injunctive relief in a court of competent jurisdiction that shall not be bound by the arbitrator's application or conclusions of law. Judgement on the award may be entered in any court having jurisdiction.

No Class Actions. YOU AGREE THAT EACH PARTY MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. Further, unless both parties agree otherwise, the arbitrator may not consolidate more than one person’s claims and may not otherwise preside over any form of a representative or class proceeding.  

Modifications to this Arbitration Provision. If we make any substantive change to this arbitration provision, you may reject the change by sending us written notice within 30 days of the change to our address for Notice of Arbitration, in which case your Account will be immediately terminated and this arbitration provision, as in effect immediately prior to the changes you rejected, will survive.

Enforceability. If Section - No Class Actions or the entirety of this Section - Mandatory Arbitration is found to be unenforceable, then the entirety of this Section - Mandatory Arbitration will be null and void and, in that case, the exclusive jurisdiction and venue described in Section - Governing Law will govern any action arising out of or related to these Terms.

GENERAL

These Terms and any document incorporated by reference constitute the entire agreement between the parties with respect to its subject matter and supersede any previous terms between the parties in relation to such matters. The limitations, exclusions, and restrictions in these Terms shall inure to the benefit of our licensors, successor, and assigns. 

These Terms are drafted in the English language and may be translated into other languages. The English language version of these Terms shall prevail if there is a conflict or inconsistency, or clarification required with other language versions. The headings in these Terms are for ease of reference only and shall be disregarded in construing or interpreting the Terms.

Unless expressly authorized by MoveMoney, these Terms, and any rights and licenses granted hereunder, may not be transferred or assigned by you and any attempted transfer or assignment will be null and void.

If we fail to enforce any provision of these Terms, that failure will not preclude us from enforcing either that provision or any similar provision on a later occasion. If any provision of these Terms is found by a court to be invalid or unenforceable by a court, we agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision and that other provisions remain in full force and effect. We may transfer all or part of our rights or duties under these Terms provided we take reasonable steps to ensure that your rights under these Terms are not prejudiced. 

You hereby agree that the Terms shall survive termination to the extent necessary for the enforcement of MoveMoney’s rights and your obligations.

CONTACT US

If you have a question or concern, please send an email to hello@cfxlabs.com or contact us by mail at 2045 W Grand Avenue, Suite B, PMB 71816, Chicago, Illinois 60612-1577.

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