Preamble

This Acceptable Use Policy (the “AUP”) sets out the rules for the acceptable use of the products and services of Cuverse Limited (“Cuverse”), defines the categories of users and jurisdictions in respect of which the services are not available, and describes prohibited use cases.

This AUP forms an integral part of the Mining Hardware Hosting Agreement and the Mining Service Agreement (together, the “Service Agreements”). By accepting the Service Agreements, the Customer undertakes to comply with this AUP. A breach of the AUP constitutes grounds for the suspension or termination of the provision of services in accordance with the corresponding provisions of the Service Agreements.

Cuverse reserves the right to update this AUP unilaterally, with no less than 30 days’ prior notice to Customers.

§ 1. Excluded Jurisdictions and Persons

(1) Comprehensive Sanctions. The Cuverse services are not available to persons who are residents or citizens of, or located in the territory of, the following jurisdictions:

• Cuba;
• Iran;
• the Democratic People’s Republic of Korea;
• Syria;
• any other jurisdictions in respect of which comprehensive international sanctions (UN, EU, US, UK) are in force.

(2) Sanctioned Persons. The Cuverse services are not available to persons:

• included on the Specially Designated Nationals and Blocked Persons List (the OFAC SDN List) maintained by the U.S. Department of the Treasury;
• included on the Consolidated List of Persons, Groups and Entities Subject to EU Financial Sanctions;
• included on the Sanctions List maintained by the UK Office of Financial Sanctions Implementation (OFSI);
• included on any other applicable international sanctions lists.

For Customers from the EU/EEA, Cuverse also conducts screening against the sanctions lists of the European Union (EU Restrictive Measures), including the Consolidated Financial Sanctions List.

(3) High-Risk Jurisdictions. Cuverse reserves the right to restrict or suspend access to the services for residents of jurisdictions which:

• are included in the FATF High-Risk Jurisdictions list;
• prohibit the mining of crypto-assets at the national level;
• have a regulatory regime that renders the provision of Cuverse services impossible or unlawful.

The current list of such jurisdictions is maintained by Cuverse and is updated as the regulatory environment evolves. The current list may be obtained on request through the Cuverse support service.

§ 2. United States — Special Rules

(1) US Customers. For the purposes of this AUP, “US Customer” means a Customer who is:

• a resident of the United States of America;
• a citizen of the United States of America, regardless of place of residence;
• a U.S. tax resident;
• a legal entity registered or having its principal office in the United States.

(2) Service Packages — Not Available to US Customers. The services governed by the Mining Service Agreement (Service Packages, Virtual Mining, Mining Packages) are not provided to US Customers. This restriction is absolute and may not be circumvented by structuring transactions, the use of intermediaries or any other mechanisms.

(3) Mining Hardware — Available with Restrictions. The services governed by the Mining Hardware Hosting Agreement (Hosting Mode, Cloud Infrastructure Mode) are available to US Customers, subject to the following conditions:

• the US Customer is not a resident of a state excluded from service pursuant to § 2(4);
• the US Customer complies with the additional requirements set out in § 16 of the Mining Hardware Hosting Agreement (US Customer Provisions);
• the US Customer has completed the verification procedure in accordance with Cuverse’s rules.

(4) Excluded US States. As at the date of this version of the AUP, the Cuverse services are not provided to residents of the following U.S. states:

• New York — by reason of the BitLicense regime, which requires licensing of virtual currency business activity;
• California — by reason of the requirements of the California Digital Financial Assets Law (DFAL);
• Hawaii — by reason of the specific requirements of the Money Transmitter License regime.

This list is preliminary and is subject to refinement following review by U.S. counsel. Pending the completion of such review, Cuverse reserves the right to restrict access from additional states.

Cuverse reserves the right to expand or narrow this list unilaterally, in accordance with changes in the regulatory environment. Such changes take effect upon publication of the updated version of the AUP.

§ 3. Eligibility Requirements

(1) Age. All Customers must be at least 18 years of age. The use of the Cuverse services by persons under 18 is prohibited.

(2) Legal Capacity. All Customers must have the legal capacity to enter into legally binding contracts under applicable law.

(3) Identification. Customers undertake to provide accurate and complete identification data at the time of registration of the Account, and to undergo verification procedures (KYC) on the request of Cuverse.

(4) Single Account. Each Customer may have only one Account. The creation of duplicate Accounts is prohibited.

(5) Personal Use. The Customer uses the Cuverse services in their own name and on their own account.

§ 4. Prohibited Use Cases

(1) Money Laundering and Terrorist Financing. The use of the Cuverse services for the purposes of money laundering, the financing of terrorism or any other financial crimes is strictly prohibited.

(2) Fraud. Any fraudulent acts, including the use of stolen means of payment, the falsification of identification data, or the use of bank accounts or wallets belonging to other persons, are prohibited.

(3) Sanctions Evasion. The use of the Cuverse services for the purpose of circumventing international sanctions, export controls or other trade restrictions is prohibited.

(4) Illegal Activities. The use of the Cuverse services for any activity unlawful under applicable law is prohibited.

(5) Unauthorized Access. Any attempts to obtain unauthorised access to the Platform, to the accounts of other users, to the Cuverse infrastructure or to related systems are prohibited.

(6) Abuse of Loyalty Program. The use of the Loyalty Program in breach of the rules established in the Loyalty Program Terms (for example, the creation of multiple Accounts or the artificial increase of Active Spend) is prohibited.

(7) Resale Without Authorization. The resale of Mining Hardware or Service Packages to third parties without the written consent of Cuverse is prohibited.

(8) Reverse Engineering. The decompilation, disassembly or other reverse engineering of the Platform, software, API or other components of the Cuverse services is prohibited.

(9) Scraping and Automated Access. Automated access to the Cuverse services (other than through officially provided APIs) for the purpose of bulk data collection, scraping or other unauthorised use is prohibited.

(10) Misrepresentation. The provision of false or misleading information to Cuverse, its staff or other Customers through the Cuverse services is prohibited.

§ 5. Verification and Compliance

(1) Right to Verify. Cuverse reserves the right at any time to require the Customer to evidence compliance with this AUP, including:

• the provision of documents evidencing the Customer’s identity and residence;
• evidence of the source of funds or crypto-assets used for payment;
• evidence of the purposes for which the Cuverse services are used;
• such other documents and information as Cuverse may consider necessary in order to comply with the requirements of applicable law.

(2) Cooperation. The Customer undertakes to cooperate with Cuverse in connection with verification procedures and to provide the requested documents within reasonable timeframes. Failure to cooperate constitutes grounds for the suspension or termination of the provision of services.

(3) Reporting. Cuverse reserves the right and, in cases provided for by applicable law, has the obligation to report suspicious transactions to the competent regulatory authorities.

§ 6. Consequences of Violation

(1) Suspension. In the event of a breach of this AUP being identified, Cuverse reserves the right to:

• suspend the provision of services to the Customer;
• block the Customer’s Account;
• forfeit the Customer’s Loyalty Points;
• require additional verification or the provision of further documents.

(2) Termination. In the event of a material or repeated breach of this AUP, Cuverse shall be entitled to terminate the Service Agreements with the Customer in accordance with the procedure set out in those documents.

(2a) Appeal Process. A Customer whose Account has been suspended is entitled to submit a request for review of the decision, providing the necessary explanations and documents. Cuverse shall review the request within 30 working days.

(3) Forfeiture. In cases provided for by applicable law or by the Service Agreements, the Customer’s funds connected with transactions in breach of this AUP may be withheld or returned to source.

(4) No Refund of Package Price. The termination of services under the Mining Service Agreement on account of a breach of this AUP does not give rise to any right on the part of the Customer to a refund of the Package Price.

(5) Legal Action. Cuverse reserves the right to apply to the competent judicial and regulatory authorities for the protection of its rights and interests and the interests of other Customers.

§ 7. Reporting Violations

If a Customer becomes aware of a breach of this AUP by another user or suspects fraudulent activity in connection with the Cuverse services, the Customer may submit a notice to the Cuverse support service by email at [email protected] or through the dashboard.

Cuverse shall consider such notices and take appropriate action within reasonable timeframes. Cuverse is not obliged to disclose to the Customer who submitted the notice the outcome of the review.

§ 8. Modification of AUP

Cuverse reserves the right to amend this AUP unilaterally. Material amendments take effect no earlier than 30 days following notification of Customers by email, through the dashboard or by publication of the updated version on the website.

Changes to sanctions lists are applied by Cuverse within a reasonable period following their publication. Customers included on sanctions lists shall be notified to the extent permitted by applicable law.

§ 9. Governing Law

This AUP is governed by the substantive law of Hong Kong, without regard to the rules of private international law.

§ 10. Contact

For matters relating to this AUP, Customers may contact:

• General enquiries: [email protected]
• Reports of violations: [email protected]
• Legal enquiries: [email protected]

Postal address: Cuverse Limited, 7/F, MW Tower, 1 Bonham Strand, Sheung Wan, Hong Kong.