Hi! Welcome to CryptoSmartlife.
terms expressly incorporated herein apply to your access to and use of the Platforms
and the Services (each defined below). For avoidance of doubt, while the
Platforms are developed by Smartlife Digital Assets Pte. Ltd, Singapore, they
are operated by Smartliving Digital Technologies Pvt Ltd, India under a license.
Likewise, the Services are offered by Smartliving Digital Technologies Pvt Ltd,
India and not Smartlife Digital Assets Pte. Ltd, Singapore. CryptoSmartlife
Singapore does not operate any part of the Platform or offer any of the
By accessing or using the Platform or our
Services, you are agreeing to these Terms, which form a legally binding
agreement between you and Smartliving Digital Technologies Pvt Ltd, India. So,
please read them carefully. If you do not agree to these Terms, please do not
visit, access, or use the Platform or our Services. It is clarified that you
enter into these Terms with Smartliving Digital Technologies Pvt Ltd, India and
NOT Smartlife Digital Assets Pte. Ltd, Singapore, which neither operates the
Platforms, nor provides any Services.
We do not offer our Platform and Services
in Singapore. If you are a Singapore resident, you must not access or use the
Platform or our Services whether directly, or indirectly.
Capitalized terms not otherwise defined in these
Terms will have the following meaning:
“Basket” means a basket of various
Digital Assets created on the basis of different themes.
“CryptoSmartlife India” or “CryptoSmartlife”
or “we” or “us” or “our” refers to Smartliving Digital
Technologies Private Limited, a private limited company having registration
credentials as U72200TG2021PTC155008.
“CryptoSmartlife Account” means a user
account accessible through the Services, which allows a user to manage their
Funds and transact using them.
“CryptoSmartlife Singapore” refers to
Smartlife Digital Assets Pte Ltd, a company incorporated in Singapore having
registration credentials as 202129997W.
“Digital Asset” means any
digital asset (including a virtual currency or virtual commodity) which is a
digital representation of value based on (or built on top of) a cryptographic
protocol of a computer network, that may be purchased or used using our
“Digital Asset Account” means
any Digital Asset address or account beneficially owned, controlled or operated
by you that is maintained outside of the Services, and is not owned, controlled
or operated by CryptoSmartlife.
“External Account” or “Verified
External Account” means any Financial Account or Digital Asset Account of
which you are the beneficial owner: (i) from which you may load Funds into your
CryptoSmartlife Account, and (ii) to which you may transfer Funds from your
CryptoSmartlife Account, if allowed.
“Financial Account” means any
financial account of which you are the beneficial owner that is maintained by a
third party outside of the Services, including, but not limited to third-party
payment service accounts or accounts maintained by third party financial
institutions such as banks.
“Force Majeure Event” means any
event beyond CryptoSmartlife's reasonable control, including but not limited to
flood, extraordinary weather conditions, pandemics, epidemics, earthquake,
fire, war, insurrection, riot, labor dispute, accident, action of government,
communications or power failure, equipment or software malfunction or other act
“Funds” means Digital Asset and/or Legal
“KYC” means know your customer
requirements as determined by us to ensure compliance with applicable law;
“Legal Tender” means any national
currency, such as INR or USD, that may be used through the Services and does
not include any Digital Asset.
“Platforms” means the website https://www.cryptosmartlife.com/
(including related domains), CryptoSmartlife mobile applications and other
platforms operated by CryptoSmartlife.
“Services” means the services offered by
CryptoSmartlife including access to the Platforms, trading, direct sale, Baskets,
and other services.
“you” or “your” refers to you, a
user of our Services.
CryptoSmartlife may not make the Services
available in all markets and jurisdictions, and may restrict or prohibit use of
the Services from certain jurisdictions (“Restricted Locations”).
If you are registering to use the Services on
behalf of a legal entity, you represent and warrant that:
such legal entity is duly organized and validly
existing under the applicable laws of the jurisdiction of its organization; and
you are duly authorized by such legal entity to
act on its behalf.
You further represent and warrant that you:
are of legal age to form a binding contract (at
least 18 years old or the age of attaining adulthood in your jurisdiction);
have not previously been suspended or removed
from using our Services;
have full power and authority to enter into these
Terms and in doing so will not violate any other agreement to which you are a
are not in breach of, and will not breach any
applicable laws, including without limitation the AML Regulations, the Indian
Foreign Exchange Management Act, 1999 and the Indian Income Tax Act, 1961;
are not located in, under the control of, or a
national or resident of (i) any Restricted Locations, or (ii) any country to
which India has embargoed goods or services;
will provide CryptoSmartlife true, accurate,
complete, and updated information, wherever information is sought by it;
are not identified as a “Specially Designated
National” by the U.S. Treasury’s Office of Foreign Assets Control (OFAC);
are not on any trade or economic sanctions
lists, including but not limited to lists circulated by United Nations Security
Council, US Department of the Treasury’s Office of Foreign Assets Control, the
US Department of State, the European Union, Her Majesty’s Treasury, the Hong
Kong Monetary Authority, or the Monetary Authority of Singapore;
are aware of the financial and other risks
involved with trading in Digital Assets. You have carefully assessed your
financial standing and risk tolerance and procured legal advice. You are
willing and financially able to assume all risks related to trading of Digital
will not use our Services if any applicable laws
in your country prohibit you from doing so in accordance with these Terms.
CryptoSmartlife may condition your access or
continued access to certain Services (or features of those Services), such as
by imposing eligibility requirements. CryptoSmartlife will keep you informed of
these through the Platform. CryptoSmartlife may require, on an ongoing basis,
that you demonstrate to us that you continue to meet these requirements. CryptoSmartlife’s
decisions with respect to eligibility are final.
CryptoSmartlife Account limitations per person
Number of CryptoSmartlife Accounts. CryptoSmartlife may, in its sole discretion, limit the number of
CryptoSmartlife Accounts that you may hold, maintain or acquire.
CryptoSmartlife Account information and
security. In order to use certain Services, you
must create a CryptoSmartlife Account and provide any requested information.
When you create a CryptoSmartlife Account, you agree to: (a) create a strong
password that you do not use for any other website or online service; (b)
provide accurate, current and truthful information; (c) maintain and promptly
update your CryptoSmartlife Account information; (d) maintain the security of
your CryptoSmartlife Account by protecting your password and restricting access
to your CryptoSmartlife Account; (e) promptly notify us if you discover or
otherwise suspect any security breaches related to your CryptoSmartlife
Account; and (f) take responsibility for all activities that occur under your
CryptoSmartlife Account and accept all risks of any authorized or unauthorized
access to your CryptoSmartlife Account, to the maximum extent permitted by law.
You agree to provide us with any information we request as part of our KYC
requirements. We may request such information during CryptoSmartlife Account
set-up, or any other time deemed necessary by us. You understand that such
information is necessary for us to comply with applicable law and to prevent
illegal activities. If you fail to adhere to the KYC requirements, we may
either reject creation of, or terminate, the said Account. You must inform us
of any changes to information you’ve submitted as part of our KYC requirements
(such as your address, place of residence etc.) as soon as practicable. You
must also provide us a documentary proof of such changes within 3 (three)
months from the date of such changes.
authorise us to make inquiries, either directly or through qualified third
parties, that are deemed necessary to verify your identity or to protect you
and/or us against financial crimes such as fraud, etc. We may take such action
as we deem necessary based on the results of such inquiries.
We reserve the sole discretion to open a CryptoSmartlife
Account and may refuse to do so at our sole discretion.
information about how we collect, use and share your information.
These general obligations apply to: (i) all
transactions made or proposed to be made using the Services, (ii) your purchase
and/or utilisation of Digital Assets directly from CryptoSmartlife through the
Services, and (iii) any transaction in which you load Funds into your
CryptoSmartlife Account from your External Account.
Conditions and Restrictions. We may, at any time and in our sole discretion, refuse any transaction
submitted through the Services, introduce limits on the transaction amounts or
impose any other conditions or restrictions upon your use of the Services.
Accuracy of Information. You must provide any information required when prompted by any
screen displayed within the Services.
Cancellations. You may only cancel a transaction initiated through the Services if
such cancellation occurs before execution of the
transaction. Once your transaction has been executed, you may not change,
withdraw or cancel your authorization for CryptoSmartlife to complete such a
transaction. If a transaction has been partially completed, you may cancel
the unfulfilled remainder of the transaction, if permitted by CryptoSmartlife. Ordinarily,
all transactions are irreversible once initiated and you do not have a right to
seek cancellation of any transaction. We reserve the right to refuse any
cancellation request associated with a transaction.
acknowledge and agree that we may correct, reverse, or cancel, at our sole
discretion, any transaction if we discover that there was an error or
abnormality, whether such error or abnormality was caused by you, us or a third
party or due to technical issues, system issues, software failure or otherwise.
We provide no warranty that any such attempt will be successful and will have
no responsibility or liability for such error(s) or any correction attempt(s).
Gains and Losses.
All gains, earnings, losses, costs, and liabilities made or incurred by you
while using the Services or otherwise in connection with these Terms will be
credited or debited to your CryptoSmartlife Account, as applicable.
authorise us to act upon any digital instructions transmitted by you. In this
connection, we will have the permission to carry out your instructions or
orders while using the Services. This includes making debits to the funds
associated with your CryptoSmartlife Account to carry out your instructions.
Insufficient Funds. If you have insufficient Funds in your CryptoSmartlife Account to
complete a transaction through the Services, we may cancel the entire transaction
or may fulfill the transaction partly using the Funds currently available in
your CryptoSmartlife Account (less any fees owed to CryptoSmartlife in
connection with our execution of the transaction).
Trade confirmation. Once you execute your transaction through the Services, a
confirmation will be electronically made available to you detailing the
particulars of the transaction. You acknowledge and agree that any failure to
provide such confirmation shall not prejudice or invalidate the terms of such
Trade options. Please refer to the transaction guidelines provided on our Platforms
and/or in these Terms, for information about the terminology used in connection
with the transaction options made available through the Services. If you do not
understand the meaning of any transaction or Digital Asset jargon, we strongly
encourage you not to utilize any of those transaction options and
refrain from using our Services.
Market volatility. Particularly during periods of high volume, illiquidity, fast
movement or volatility in the market for any Digital Assets or Legal Tender,
the actual market rate at which a market order or trade is executed may be
different from the prevailing rate indicated through the Services at the time
of your order or transaction. You understand that we are not liable
for any such price fluctuations. In the event of a market disruption or Force
Majeure Event, CryptoSmartlife may do one or more of the following: (a) suspend
access to the Services; or (b) prevent you from completing any actions through
the Service. Following any such event, when transaction resumes, you
acknowledge that prevailing market rates may differ significantly from the
rates available prior to such event.
Transaction Settlement. Subject to these Terms, we will use commercially reasonable efforts
to settle transactions on a spot basis. However, owing to challenges of
blockchain technology and distributed ledger technology network congestion, we
may be unable to do so despite our reasonable efforts.
Taxes. It is
your sole responsibility to determine what, if any, taxes apply to the
transactions you complete through the Services, and it is your responsibility
to report and remit the correct tax to the appropriate tax authority. Except as
provided in these Terms, you agree that CryptoSmartlife is not responsible
for determining whether taxes apply to your transactions or for collecting,
reporting, withholding or remitting any taxes arising from any transactions. Where
applicable, you authorize us to withhold tax and deposit it on your behalf in
accordance with this Section 5.12 (General Obligations). Unless
otherwise specified in these Terms, we will withhold tax at the rate of 1% (or
at such rate(s) as specified under law) of the total transaction value or
consideration (excluding Goods and Services Tax and our fee) paid for a Digital
Asset. For this Section, you will be presumed to be an Indian resident if you
provide us an Indian address while creating your CryptoSmartlife Account,
unless you update such information later. Where we withhold tax, we will
provide you with evidence of such withholding as per applicable law. However,
you (and not us) remain solely responsible for ascertaining the total volume of
relevant transactions carried out by you in a financial year and claim
refund(s) from the tax authorities, if any.
CryptoSmartlife Account Funds
Funding your CryptoSmartlife Account. In order to complete a transaction through the Services, you must first
load Funds to your CryptoSmartlife Account using one of the approved External
Accounts identified through the Services. You may be required to verify that
you control the External Account that you use to load Funds to your
CryptoSmartlife Account. As further described herein, you may be charged fees
by the External Account you use to fund your CryptoSmartlife Account.
CryptoSmartlife is not responsible for any External Account fees or for the
management and security of any External Account. You are solely responsible for
your use of any External Account, and you agree to comply with all terms and
conditions applicable to any External Account. The timing associated with a
load transaction will depend in part upon the performance of third parties
responsible for maintaining the applicable External Account, and
CryptoSmartlife makes no guarantee regarding the amount of time it may take to
load Funds into your CryptoSmartlife Account. When you make a transaction to
fund your CryptoSmartlife Account using an External Account, it will be debited
with the relevant amount.
may require you to verify that you control the External Account and may seek
documentation to verify this in accordance with our KYC requirements. We may
conduct such verification periodically.
About Funds held in your CryptoSmartlife
Account. The Funds held in your CryptoSmartlife Account
are exclusively for availing of the Services and executing Digital Asset
transactions. These funds may be utilised for the purposes of availing our premium
Services. You are not entitled to any interest on the Funds held in your CryptoSmartlife
Legal Tender held in your CryptoSmartlife
Account. Notwithstanding anything contained in
Section 6.2 above, any Legal Tender transferred to your CryptoSmartlife Account
or received from the sale of your Digital Assets is held by us in trust, on
your behalf. You agree that you are not entitled to any interest on such
Collection of Legal Tender. You understand that we may in the course of providing Services to you
collect payments in Legal Tender on your behalf. You hereby appoint us
as your authorized payment collection agent. Any payments due to you will be
collected by us in our capacity as your authorised payment collection agent. You understand and acknowledge that we are not providing access to a
regulated payment system or acting as a payment aggregator while doing so.
Transferring Funds to an External
Account. You may transfer the Funds in your CryptoSmartlife
Account to an External Account. Such transactions will be subject to: (a) Funds
being available for withdrawal and being in excess of the amount needed to
satisfy any open transactions; (b) restrictions set forth in these Terms; (c) our
satisfaction that the External Account belongs to you and not to any other
person; and (d) restrictions under applicable law. You understand that we may levy
a fee for such withdrawal of Funds. Such fee will be deducted from your
Load/Transfer Authorization. When you request that we load Funds into your CryptoSmartlife
Account from your External Account or request that we transfer Funds to your
External Account from your CryptoSmartlife Account, you authorize
CryptoSmartlife to execute such transactions through its Services.
Rejected Transactions. In some cases, the External Account may reject your Funds or may
otherwise be unavailable to receive your Funds. You agree that we do not
control such transactions and you will not hold CryptoSmartlife
liable whatsoever for any losses or damages resulting from such rejected
CryptoSmartlife does not accept funds from any
prohibited sources such as hacks, frauds, terrorist activity etc
Third Party Transactions
This Section 7 (Third Party Transactions)
applies only when you use the Services to transact in Digital Assets for Legal
Tender, or to trade Digital Assets for another form of Digital Assets with
third parties using our Services. Section 9 (Transactions with Us)
governs the Digital Asset transactions you enter into with us.
Authorization. When you submit a new transaction through the Services, you
authorize CryptoSmartlife to execute a transaction for offering you premium
features of the Platform.
Independent relationship. When you buy or sell Digital Assets pursuant to this Section 7 (Third
Party Transactions), you acknowledge and agree that: (a) CryptoSmartlife is
not acting as your broker, intermediary, agent, or advisor or in any fiduciary
capacity, and (b) no communication or information provided to you by
CryptoSmartlife shall be considered or construed as legal advice. You are
transacting as per your own will.
Parties. When you
buy or sell Digital Assets pursuant to this Section 7 (Third Party
Transactions) using our Services, you are not buying Digital Assets from us
or selling Digital Assets to us. We facilitate that purchase or sale between
you and third parties. In such cases, the Platform is merely a technology
platform allowing you to carry out transactions in accordance with your choice.
And you acknowledge that the contract for sale of any of the Digital Assets is
strictly a bipartite contract between you and the third-party seller or the
Multiple Trades. In
seeking to fulfil the completion of a single trade by you, at times we may have
to execute multiple inter-related trades with various third parties. You
authorise us to execute all such trades on your behalf as are necessary for
completion of the transactions you execute.
Digital Asset transaction rates. If you select a transaction to buy or avail Digital Assets,
CryptoSmartlife will attempt, on a commercially reasonable basis, to execute
the transaction on or close to the prevailing market exchange rate. However, you
understand that the exchange rates offered through our Services are close-ended
and may differ from the exchange rates outside our Services. You understand
that the exchange rate offered may be a function of multiple factors including
our cost mark-up and our use of third-party services.
Transaction risks. You acknowledge and agree that you shall access and use the Services
at your own risk. The risk of loss in transacting Digital Asset can be
substantial. You should, therefore, carefully consider whether such transacting
is suitable for you in light of your circumstances and financial resources. You
should be aware of the following points when trading in Digital Assets:
You may sustain a total loss of the Funds in
your CryptoSmartlife Account, and, in some cases, you may incur losses beyond
Once listed, placing contingent orders, such as
"stop-loss" or "stop-limit" orders, will not necessarily
limit your losses to the intended amounts, since market conditions may make it
impossible to execute such orders.
All Digital Asset positions involve risk,
including a risk of your inability to utilise certain Digital Assets for their intended
purpose using our Services.
The use of leverage can work against you as well
as for you and can lead to large losses as well as gains.
Digital Assets are subject to frequent
fluctuations in value and exchange rates, and the value of your Digital Assets
may increase or decrease at any time. Resultantly, there can be a substantial
risk that you lose money buying, selling, holding, or investing in Digital
Assets. You should consult your financial advisor, legal or tax professional
regarding your specific situation and financial condition and carefully
consider whether trading or holding Digital Assets is suitable for you. Trading
in Digital Assets may not be appropriate for all investors.
Instances of security breaches or adverse
regulatory changes may detrimentally affect the value of, and your ability to
possess, or trade, Digital Assets. Actual or potential regulatory actions or
enhanced regulatory scrutiny of Digital Asset businesses may adversely affect
our business, including our ability to offer all or part of the Services. As a
result, such regulatory action or scrutiny may also adversely affect your
ability to access, use, transfer, withdraw, or exchange your Funds.
Apart from the risks we’ve identified here, there
may be additional risks involved in Digital Asset transactions and we cannot
foresee and disclose all such risks.
Internet transmission risks. You acknowledge that there are risks associated with utilizing an internet-based
trading system including, but not limited to, the failure of hardware,
software, and Internet connections. You acknowledge that CryptoSmartlife shall
not be responsible for any communication failures, disruptions, errors,
distortions or delays you may experience when trading through the Services,
Transactions with Us
Notwithstanding anything to the contrary in
these Terms, this Section 9 (Transactions with Us) applies to your use of
the Services to purchase Digital Assets directly from CryptoSmartlife. This service
may be available in limited jurisdictions.
Prices; Availability. All Digital Asset prices reflect the rates applicable to the
purchase of Digital Assets, whether in Digital Assets or Legal Tender. All
Digital Asset sales and purchases by CryptoSmartlife are subject to
availability, and we reserve the right to discontinue the sale and purchase of
Digital Assets without notice.
to completing your purchase of Digital Assets from CryptoSmartlife, we will
provide notice of the amount of Digital Assets you intend to purchase and the
amount of Funds you will be required to pay to CryptoSmartlife to receive such
Digital Assets. You agree to comply with any terms and conditions provided
within such notice to complete your purchase transaction.
the event of an error, whether through our Services, in a transaction confirmation,
transaction processing, or otherwise, we reserve the right to correct such
error and revise your transaction accordingly (including charging the correct
price) or to cancel the transaction and refund any Funds received. Your sole
remedy in the event of an error is to obtain a refund of any Funds paid, if
Payment Method. Only valid payment methods specified by us may be used to purchase
Digital Assets from us. By placing an order to purchase Digital Assets from
CryptoSmartlife, you represent and warrant that (a) you are authorized to use
the designated payment method and (b) you authorize us, or our payment
processor, to charge your designated payment method. If the payment method you
designate cannot be verified, is invalid or is otherwise not acceptable, your
purchase order may be suspended or cancelled automatically. You agree to
resolve any problems we encounter in order to proceed with your purchase order.
No Returns or Refunds. All sales and purchases of Digital Assets by CryptoSmartlife through
the Services are final. We do not accept any returns or provide refunds for
your purchase of Digital Assets from CryptoSmartlife, except as otherwise
provided in these Terms.
CryptoSmartlife may facilitate investment based
on certain Baskets made available on its Services. These Baskets may be curated
by CryptoSmartlife or third parties.
Every purchase or sale of Digital Assets in
accordance with a Basket may be subject to a minimum value mentioned against
such Basket. You are not allowed to purchase or sell Digital Assets in
fractional units of a Basket. Please note that the minimum value of a Basket
may be revised from time to time.
We do not charge a fee for suggesting Baskets to
you. However, transactions in Digital Assets may still be subject to Fees.
We are not a registered broker, investment
advisor, research analyst or an exchange. Further, the Baskets are not approved
by or registered with any securities regulators such as the Securities and
Exchange Board of India. The Baskets are for informative and suggestive
purposes for the public at large. We do not offer any bespoke advice or
recommendations to any users through our Services.
Past performance does not guarantee future
returns and the performance of Baskets are subject to market risks. Apart from
the risks we’ve identified and disclosed in these Terms, you should also do
your due diligence to ascertain the risks relating to purchasing, trading, and
holding Digital Assets forming part of Baskets.
The Baskets we create are based on publicly
available information. The content and data available on our Services relating
to Baskets, including but not limited to current value and historical returns
are for information and illustration purposes only. Data used for the
calculation of historical returns and other information is sourced from
publicly available information and has neither been audited nor validated by
Cryptosmartlife is not responsible, incase any
liquidity partner delist any cryptocurrency or token
Amount of Fees. You
agree to pay CryptoSmartlife the transaction fees for transactions undertaken through
our Services, as notified through our Platforms ("Fees").
You understand that the Fee may change from time to time. Changes to Fee are effective
as of the effective date indicated on our Platforms and will apply
prospectively to any trades that take place following the effective date of
such revised Fee.
Third-Party Fees. In addition to the Fees, your External Account may impose fees in
connection with your use of your designated External Account through the
Services. Any fees imposed by your External Account provider will not be
reflected on the transaction screens containing information regarding
applicable Fees. You are solely responsible for paying any fees imposed by
an External Account provider.
Network Fee. Some
Digital Asset transactions may also incur a network fee. We will calculate the
applicable network fee and notify you before the time you authorize a
In addition to the Fee, you will be liable to pay the applicable indirect taxes
on the transactions executed using the Services. The total price communicated
to you before confirming the execution of a transaction would be inclusive of
our Fee, network fees, if any, and applicable indirect taxes.
Payment of Fees. You authorize us, or our designated payment processor, to charge or
deduct your CryptoSmartlife Account Funds for any applicable sums owed in
connection with transactions you undertake through the Services.
Collection-Related Costs. If you fail to pay Fees or any other amounts owed to CryptoSmartlife
under these Terms, CryptoSmartlife may refer your account(s) to a third party
for collection. In such an event, you must pay collection charges at 18% per
annum (or other maximum percentage permitted by applicable law) on the
outstanding amount, to cover CryptoSmartlife's collection-related costs.
understand that we may report information with respect to your transactions,
payments, transfers, or distributions made by or to you with respect to your
activities using the Services to a tax or governmental authority to the extent
such reporting is required by applicable law.
Consent to Electronic Delivery. You agree and consent to receive electronically all communications,
agreements, documents, receipts, notices and disclosures (collectively, "Communications")
that CryptoSmartlife provides in connection with your CryptoSmartlife Account
and/or use of the Services. You agree that CryptoSmartlife may provide these
Communications to you by posting them through the Services, by emailing them to
you at the email address you provide, and/or by sending an SMS or text message
to a mobile phone number that you provide. Your carrier's normal messaging,
data and other rates and fees may apply to any mobile Communications. You
should maintain copies of electronic Communications by printing a paper copy or
saving an electronic copy. You may also contact us through email support to
request additional electronic copies of Communications.
Withdrawal of Consent. You may withdraw your consent to receive non-essential electronic
Communications by sending a withdrawal notice to support. If you decline or
withdraw consent to receive non-essential electronic Communications,
CryptoSmartlife may still send you certain essential Communications relating to
your use of the Services. If you opt out of receiving all Communications from
us, we may need to terminate your use of the Services. Unsubscribe requests
submitted to us may take up to 10 business days to process.
Requesting Paper Copies. If, after you consent to receive Communications electronically, you
would like a paper copy of a Communication we previously sent you, you may
request a copy within 30 days after the date we provided the Communication to
you by contacting support. In order for us to send paper copies to you, you
must have a current street address on file with CryptoSmartlife. Please note
that CryptoSmartlife operates exclusively online and it is very burdensome for
us to produce paper copies of Communications. Therefore, if you request paper
copies, you understand and agree that CryptoSmartlife may charge you a
processing fee, as a fee for each page of Communication requested.
Updating Contact Information. It is your responsibility to keep your email address and/or mobile
phone number on file with CryptoSmartlife up to date so that CryptoSmartlife
can communicate with you electronically. You understand and agree that if
CryptoSmartlife sends you an electronic Communication but you do not receive it
because your email address or mobile phone number on file is incorrect, out of
date, blocked by your service provider, or you are otherwise unable to receive
electronic Communications, CryptoSmartlife will be deemed to have provided the
Communication to you. Please note that if you use a spam filter that blocks or
re-routes emails from senders not listed in your email address book, you must
add CryptoSmartlife to your email address book so that you will be able to
receive the Communications we send to you. You can update your email address or
mobile phone number at any time by logging into your CryptoSmartlife Account or
by sending such information to support. If your email address or mobile phone
number becomes invalid such that electronic Communications sent to you by
CryptoSmartlife are returned, CryptoSmartlife may deem your CryptoSmartlife Account
to be inactive, and you may not be able to complete any transaction through our
Services until we receive a valid, working email address or mobile phone number
If for any reason CryptoSmartlife is
holding Funds in your CryptoSmartlife Account on your behalf, and
CryptoSmartlife is unable to return your Funds to your designated External
Account after a period of inactivity, then CryptoSmartlife may report and remit
such Funds in accordance with applicable unclaimed property laws.
When accessing or using the Services, you agree
that you will not violate any law, contract, intellectual property or other
third-party right or commit a tort, and that you are solely responsible for
your conduct while using our Services. Without limiting the generality of the
foregoing, you agree that you will not:
use our Services in any manner that could
interfere with, disrupt, negatively affect or inhibit other users from fully
enjoying our Services, or that could damage, disable, overburden or impair the
functioning of our Services in any manner;
engage in any activity or post any content that is
grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic,
paedophilic, libellous, invasive of another’s privacy, hateful, or racially,
ethnically objectionable, disparaging, relating to or, or otherwise unlawful in
any manner whatever as prohibited by the laws in force;
engage in any activity or post any content that harms
minors in any way, infringes any intellectual property rights of a third person,
deceives or misleads any person, is grossly offensive or menacing in nature, impersonates
another person, exploits the Services for any unauthorized commercial purpose,
or is false, incorrect, inaccurate, or fraudulent;
engage in any activity that threatens the unity,
integrity, defence, security or sovereignty of India, friendly relations with
foreign states or public order or causes incitement to the commission of any
cognizable offence or prevents investigation of any offense or is insulting to
engage in malicious trading, market abuse,
market manipulation, insider trading or similar offences;
use our Services to pay for, support or
otherwise engage in any illegal gambling activities; fraud; money-laundering;
or terrorist activities; or other illegal activities;
use any robot, spider, crawler, scraper or other
automated means or interface not provided by us to access our Services or to
modify, adapt, translate, or reverse engineer
any portion of the Services;
probe, scan, or test the vulnerability of any
system, security or authentication measures implemented by us, or otherwise
tamper or attempt to tamper with the Platform’s technological design and
Use or attempt to use another user's account
Use or attempt to use the proceeds of an unlawful
Distribute or publish any unsolicited
Attempt to circumvent any content filtering
techniques we employ, or attempt to access any service or area of our Services
that you are not authorized to access;
Develop any third-party applications that
interact with our Services without our prior written consent;
Provide false, inaccurate, or misleading
Encourage or induce any third party to engage in
any of the activities prohibited under this Section 14 (Acceptable Use).
You must promptly notify us of any actual or
potential violation of these Terms that come to your knowledge.
We reserve the right to disclose any information
(including the identity of the persons uploading or hosting such information)
as necessary to satisfy any law, regulation, valid governmental request or as
necessary in our opinion for the resolution of an offence.
We reserve the right to unilaterally determine
whether you have violated these Terms and take action against such violation,
without any prior notice. Such actions may include, but are not limited to:
blocking and closing order requests;
freezing your Funds or suspending your CryptoSmartlife
suspending your access to all or a part of our
reporting the incident to authorities;
publishing the alleged violations and actions
that have been taken; and
removing any violative content from the
We will own exclusive rights, including all
intellectual property rights, to any feedback, suggestions, ideas or other
information or materials regarding CryptoSmartlife or our Services that you
provide, whether by email, posting through our Services or otherwise ("Feedback").
Any Feedback you submit is non-confidential and shall become the sole property
of CryptoSmartlife. We will be entitled to the unrestricted use and
dissemination of such Feedback for any purpose, commercial or otherwise,
without acknowledgment or compensation to you. You waive any rights you may
have to the Feedback (including any copyrights or moral rights). Do not send us
Feedback if you expect to be paid or want to continue to own or claim rights in
them; your idea might be great, but we may have already had the same or a
similar idea and we do not want disputes.
We also have the right to disclose your identity
to any third party who is claiming that any content posted by you constitutes a
violation of their intellectual property rights, or of their right to privacy.
We have the right to remove any posting you make on our website if, in our opinion,
your post does not comply with our content standards.
Copyrights and Other Intellectual Property
Unless otherwise indicated by us, all copyright
and other intellectual property rights in all content and other materials
contained on the Platforms or provided in connection with the Services,
including, without limitation, the CryptoSmartlife logo and all designs, text,
graphics, pictures, information, data, software, sound files, other files and
the selection and arrangement thereof (collectively, "CryptoSmartlife
Materials") are the proprietary property of CryptoSmartlife or our
licensors or suppliers and are protected by applicable copyright laws and other
intellectual property rights laws.
We hereby grant you a limited, non-exclusive and
non-sublicensable license to access and use the CryptoSmartlife Materials for
your personal or internal business use. Such license is subject to these Terms
and does not permit (a) any resale of the CryptoSmartlife Materials; (b) the
distribution, public performance or public display of any CryptoSmartlife
Materials; (c) modifying or otherwise making any derivative uses of the
CryptoSmartlife Materials, or any portion thereof; or (d) any use of the CryptoSmartlife
Materials other than for their intended purposes. The license granted under
this Section will automatically terminate if we terminate your access to the
CryptoSmartlife logo and any other CryptoSmartlife product or service names,
logos or slogans that may appear on our Services including without limitation
any metatags or other "hidden text" utilizing any trademark, product
or service names (collectively, “Marks”) are trade names and/or trademarks
of us or our licensors (including CryptoSmartlife Singapore), and may not be
copied, imitated or used, in whole or in part, without our prior written
permission. In addition, the look and feel of our Services, including all page
headers, custom graphics, button icons and scripts, is the service mark,
trademark and/or trade dress of CryptoSmartlife or its licensors and may not be
copied, imitated or used, in whole or in part, without our prior written
permission. All other trademarks, registered trademarks, product names and company
names or logos mentioned through our Services are the property of their
respective owners. Reference to any products, services, processes or other
information, by name, trademark, manufacturer, supplier or otherwise does not
constitute or imply endorsement, sponsorship or recommendation by us.
In using our Services, you may view content
provided by third parties, including links to web pages of such parties,
including but not limited to Facebook and Twitter links (“Third-Party Content”).
We do not control, endorse or adopt any Third-Party Content and shall have no
responsibility for Third-Party Content, including without limitation material
that may be misleading, incomplete, erroneous, offensive, indecent or otherwise
Your dealings or correspondence with such third
parties are solely between you and the third parties. We are not responsible or
liable for any loss or damage of any sort incurred as the result of any such
dealings, and you understand that your use of third party services, and your
interactions with third parties, is at your own risk. Any use of third party
services is governed solely by the terms and conditions of such third party
services and any contract entered into, or any transaction completed through any
third party services, is between you and the relevant third party, and not with
us. You must comply in all respects with all applicable terms of the third
party services that you access or subscribe to in connection with such
services. If at any time any third party services cease to make their products
available to us on reasonable terms, we may cease to provide such features to
you, without entitling you to refund, credit, or other compensation.
You authorize CryptoSmartlife to share your personal
information such as identity and banking information with the third parties you
interact with using our Services. Such personal information will be dealt with
In the event of any Force Majeure Event, breach
of these Terms, or any other event that would make provision of the Services
commercially unreasonable for CryptoSmartlife, we may, in our discretion and
without liability to you, with or without prior notice, suspend or terminate your
access to all or a portion of our Services and/or delete or deactivate your
We may decline to process any deposits or
withdrawal without prior notice and may limit or suspend your use of one or
more Services at any time, at our sole discretion. For example, we may, at our
sole discretion, not process, withhold, suspend, pause, or hold the deposits or
withdrawals if we believe the transaction is suspicious, may involve fraud or
misconduct, violates applicable laws, or violates these Terms. If you have a
balance remaining in a CryptoSmartlife Account which has been suspended, we may
freeze such balance for so long as the CryptoSmartlife Account is suspended.
You may terminate your CryptoSmartlife Account
at any time by writing to us at [Bhavik.Vala@cryptosmartlife.com]. You
must pay any outstanding amounts owed to us before your CryptoSmartlife Account
is terminated. Any pending transactions at the time of termination of CryptoSmartlife
Account will be cancelled.
Effect of Termination:
In the event of termination, CryptoSmartlife
will attempt to return any Funds stored in your CryptoSmartlife Account not
otherwise owed to CryptoSmartlife. However, Funds may not be returned if: (i) such
return is prohibited under applicable law, including applicable sanctions
programs; (ii) required by a valid court order; or (c) withholding Funds is necessary
for compliance with applicable law in our discretion.
Notwithstanding anything contained in this Section
19 (Suspension; Termination), we reserve the right to retain and use the
transaction data or other information related to a CryptoSmartlife Account
after termination, in the manner specified in these Terms and our Privacy
Discontinuance of Services
We may, in our sole discretion and without
liability to you, with or without prior notice and at any time, modify or
discontinue, temporarily or permanently, any portion of our Services.
Except as expressly provided to the contrary in
a writing by us, our Services are provided on an “as is” and “as available”
basis. We expressly disclaim and you waive, all warranties of any kind, whether
express or implied, including, without limitation, implied warranties of
merchantability, fitness for a particular purpose, title and non-infringement
as to our Services, including the information, content and materials contained
You acknowledge that information you store or
transfer through our Services may become irretrievably lost or corrupted or
temporarily unavailable due to a variety of causes, including software
failures, protocol changes by third party providers, internet outages, force
majeure event or other disasters including third party DDOS attacks, scheduled
or unscheduled maintenance, or other causes either within or outside our
control. You are solely responsible for backing up and maintaining duplicate
copies of any information you store or transfer through our Services.
We do not make any representations or warranties
that access to the Services, any part of the Services, or any of the materials
contained therein, will be continuous, uninterrupted, timely, or error-free. We
do not guarantee that any order will be executed, accepted, recorded or remain
open. Except for the express statements set forth in these Terms, you hereby
acknowledge and agree that you have not relied upon any other statement or
understanding, whether written or oral, with respect to your use and access of
the Services. Without limiting the foregoing, you hereby understand and agree
that we will not be liable for any losses or damages arising out of or relating
to: (i) any inaccuracy, defect or omission of Digital Asset price data, or any
error, delay or interruption in the transmission of such data; (ii) viruses or
other malicious software obtained by accessing our websites, software, systems
operated by us or on our behalf or any of the Services or any website or
service linked to our Services; (iii) glitches, bugs, errors, or inaccuracies
of any kind in our websites, software, systems operated by us or on our behalf
or any of the Services; or (iv) a suspension or other action taken with respect
to your CryptoSmartlife Account.
You expressly acknowledge and agree that use of
the Services is at your sole risk. We cannot control the quality, security, or
legality of the Digital Assets in any transaction, truthfulness of the
transaction information, or capacity of the parties to any transaction to
perform their obligations. You must carefully consider the associated
investment risks, legal status and validity of the transaction information and
investment decisions prior to your use of the Services.
You acknowledge and agree that we are not a
financial institution, bank, credit union, trust, hedge fund, broker or
investment or financial advisor, and are not subject to the same laws,
regulations, directives, or requirements applicable to such persons. You
acknowledge and agree that no oral or written information or advice provided by
us, our officers, directors, employees, or agents, nor any information obtained
through the Services, will constitute investment or financial advice. You are
solely and exclusively responsible for all trading decisions made by you while
using the Services. We do not give advice or recommendations regarding the
trading of Digital Assets, including their suitability and appropriateness, or
provide investment strategies for any Digital Assets. We will not be held
responsible for the decisions you make to buy, sell, or hold Digital Assets
based on the information provided by us.
We do not own or control the underlying software
protocols which govern the operation of Digital Assets. The underlying
protocols may be open source and may be subject to risks typically associated
with open source software. We assume no responsibility for the operation of the
underlying protocols and do not guarantee the functionality or security of
network operations. You agree and understand that the underlying protocols of different
Digital Assets and their networks are subject to changes in operating rules
(each a “Fork”) which may result in more than one version of such
network (each a “Forked Network”). You further agree and understand that
Forks may materially affect the value, function, and/or name of the Digital
Assets held by you with us. 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 with us, including without
limitation, temporarily suspending operations for the involved Digital
Asset(s). Our response to any operating change is subject to our sole
discretion and may include deciding not to support any new Fork, or other
actions. You acknowledge and accept the risks of operating changes to Digital
Asset protocols and agree that we are not responsible for such operating
changes and not liable for any loss of value you may experience because of such
changes in operating rules.
Some jurisdictions do not allow the disclaimer
of implied terms in contracts with consumers, so some or all of the disclaimers
in this section may not apply to you.
Limitation of Liability
To the extent permitted by applicable law, in no
event shall we, our affiliates and their respective shareholders, members,
directors, officers, employees, attorneys, agents, representatives, suppliers
or contractors (“CryptoSmartlife Parties”) be liable for any special,
indirect or consequential damages, or any other damages of any kind, including
but not limited to loss of use, loss of profits or loss of data, whether in an
action in contract, tort (including but not limited to negligence) or
otherwise, arising out of or in any way connected with the use of or inability
to use our Services. This includes any damages caused by or resulting from
reliance on any information obtained from us or our Services, or that result
from mistakes, omissions, interruptions, deletion of files or email, errors,
defects, viruses, delays in operation or transmission or any failure of
performance, whether or not resulting from a Force Majeure Event,
communications failure, theft, destruction or unauthorized access to records,
programs or services.
Some jurisdictions do not allow the exclusion of
certain warranties or the limitation or exclusion of liability for incidental
or consequential damages. Accordingly, some of the limitations of this section
may not apply to you.
To the maximum extent permitted by applicable
law, in no event shall the aggregate liability of CryptoSmartlife Parties
whether in contract, warranty, tort (including negligence, whether active,
passive or imputed), product liability, strict liability or other theory,
arising out of or relating to the use of, or inability to use our Services or
to these Terms exceed the Fees paid by you to CryptoSmartlife during the 6
months immediately preceding the date of any claim giving rise to such
You acknowledge and agree that your sole remedy
for any suspension, cancellation, or termination of the CryptoSmartlife Account
or for cessation of any or all Services will be refund/recovery of your Funds,
subject to deductions of amounts owed to us and other legal, regulatory, or
statutory dues, and to the permissibility of such refund or recovery under
You agree to defend, indemnify and hold
harmless CryptoSmartlife Parties from and against any claim, demand, action,
damage, loss, cost or expense, including without limitation reasonable
attorneys’ fees, arising out or relating to (a) your use of, or conduct in
connection with, our Services; (b) any Feedback you provide; (c) your violation
of these Terms or applicable law; or (d) your violation of any rights of any
other person or entity. If you are obligated to indemnify us, we will have the
right, in our sole discretion, to control any action or proceeding (at our
expense) and determine whether we wish to settle it.
Applicable Law; Arbitration
The laws of India excluding its conflict of law
provisions, will govern these Terms and any dispute that arises between you and
Subject to Section 24.3 below, the parties
submit to the non-exclusive jurisdiction of the courts as determined by
CryptoSmartlife in case of any disputes that may arise in respect of or
relating to these Terms.
You and CryptoSmartlife agree to arbitrate any
dispute arising from these Terms or your use of the Services, except for
disputes in which either party seeks equitable and other relief for the alleged
unlawful use of copyrights, trademarks, trade names, logos, trade secrets or
patents. The arbitration will be conducted in accordance with the fast-track
provisions of the Indian Arbitration & Conciliation Act, 1996 by a sole
arbitrator appointed with the mutual consent of the parties. The seat/place of
such arbitration will be determined by CryptoSmartlife. The language to be used
in such proceedings is English. You and we agree that all materials and
documents exchanged during the arbitration proceedings must be kept
confidential and must not be shared with anyone except the parties’ attorneys,
accountants, or business advisors, subject to the condition that they agree to
keep all materials and documents exchanged during the arbitration proceedings
Whether the dispute is heard in arbitration or
in court, you and CryptoSmartlife will not commence a class action, class
arbitration or representative action or proceeding.
Entire Agreement; Order of Precedence. These Terms (including all annexures, addendums, schedules and
policies incorporated herein) contain the entire agreement and supersede all
prior and contemporaneous understandings between the parties regarding the
Services. These Terms do not alter the terms or conditions of any other
electronic or written agreement you may have with CryptoSmartlife for the
Services or for any other CryptoSmartlife product or service or otherwise. In
the event of any conflict between these Terms and any other agreement you may
have with CryptoSmartlife, the terms of that other agreement will control only
if these Terms are specifically identified and declared to be overridden by
such other agreement.
reserve the right to make changes or modifications to these Terms from time to
time, in our sole discretion, by posting the amended Terms through the Platforms
or by communicating these changes through any written or other contact method
we have established with you. The amended Terms will be effective immediately
and your use of the Services following the date on which such amended Terms are
published will constitute consent to such amendments.
failure or delay in exercising any right, power or privilege under these Terms
shall not operate as a waiver thereof.
Severability. The invalidity or unenforceability of any part of these Terms shall
not affect the validity or enforceability of any remaining Terms, all of which
shall remain in full force and effect.
Force Majeure Events. CryptoSmartlife shall not be liable for any inaccuracy, error, delay
in performance or interruption of the Services, or any losses, damages or
expenses which result directly or indirectly from a Force Majeure Event.
may not assign or transfer any of your rights or obligations under these Terms
without prior written consent from CryptoSmartlife, including by operation of
law or in connection with any change of control. CryptoSmartlife may assign or
transfer any or all of its rights under these Terms, in whole or in part,
without obtaining your consent or approval.
of sections are for convenience only and shall not be used to limit or construe
Sections intended by their nature to survive termination and Sections 11
(Fees), 12 (Electronic Notices), 13 (Unclaimed Property), 15
(Feedback), 16 (Copyrights and other intellectual property rights),
17 (Trademarks), 19.4 (Suspension; Termination), 22 (Limitation
of Liability), 23 (Indemnity), 24 (Applicable Law; Arbitration)
and this Section 25 (Miscellaneous) shall survive any termination or
expiration of these Terms.
Jurisdiction-specific Legal Disclosures
CryptoSmartlife maintains licenses and
registrations in certain jurisdictions to provide you our Services. These
licenses or registrations may impact our provision and your use of our Services
depending on where you live or are domiciled. Information regarding
CryptoSmartlife’s licenses and registrations, or lack thereof, and
corresponding disclosures (“Disclosures”) can be found on the Platforms.
These Disclosures are incorporated into these Terms by reference. By creating a
CryptoSmartlife Account, you acknowledge that you have read, understand and
agree to the applicable Disclosures.
We are furnishing this statement to you to provide
some basic facts about purchasing Digital Assets and to alert you to the risks
involved with trading Digital Assets. Before trading Digital Assets, you should
carefully review this disclosure statement. Please contact us through support
regarding any questions or concerns you may have with your margin accounts.
When you purchase new Digital Assets for
existing Digital Asset or vice versa, you may pay in full with your own Funds
or by posting the Digital Assets in your CryptoSmartlife Account as collateral,
with funds (stakes) provided by CryptoSmartlife to you. If the collateral
supporting your transaction declines in value by an amount specified by
CryptoSmartlife, you authorize CryptoSmartlife to issue a margin call and/or
sell the assets in your CryptoSmartlife Account, in order to maintain the
minimum margin requirement.
It is important that you fully understand the
unique risks involved in transacting in Digital Assets before determining
whether such trading is appropriate for you. These risks include the following:
Using digital asset to support spot
transactions poses a high degree of financial risk and is not suitable for
everyone. The use of leverage can work against
you as well as for you and can lead to large losses as well as gains. You
should examine your financial objectives, financial resources and risk
tolerance to determine whether receiving Digital Assets against the assets in
your CryptoSmartlife Account is appropriate for you.
You can rapidly lose all of the Funds you
deposit for trading and may lose more Funds than you deposit in your CryptoSmartlife
Account. The prices of Digital Assets are
highly volatile and a decline in the value of assets that are purchased or sold
may require you to provide additional funds to us, on short notice or with no
notice, to avoid the automatic liquidation of assets in your account(s).
You authorize us to sell assets in your CryptoSmartlife
Account without further notice to you. If
the equity in your CryptoSmartlife Account falls below our margin requirements
to offer you Digital Assets, you authorize CryptoSmartlife to sell assets in
your CryptoSmartlife Account to cover the deficiency. You will be responsible
for any shortfall in the CryptoSmartlife Account after such a sale. As Digital
Asset markets are open 24 hours a day, 7 days a week, calls and liquidations
may occur at any time, including outside of normal business hours.
You authorize us to sell your assets without
contacting you. We will attempt to notify you
of transaction calls, but we are not required to do so specifically other than
what is shown to you on screen during the transaction of the Digital Asset.
Moreover, even if we have contacted you and provided a specific date by which
you must meet a transaction balance, we may still immediately sell assets in
your CryptoSmartlife Account without notice to you and without waiting for the
specific date to meet a requirement.
We can increase maintenance requirements with
advance notice. The maintenance requirements
may result in the issuance of a maintenance call. Your failure to satisfy the
call may cause us to liquidate or sell assets in your CryptoSmartlife Account.
We are not responsible for delays in the release of Funds intended to satisfy
the call, including but not limited to internal holds on Funds exceeding verification
limits, delays in the transfer of Funds from Financial Accounts, and failure of
proper routing of funds through financial networks. The Funds will not count
towards meeting the maintenance requirements until the Funds are released.
If you have any complaints, feedback, or
questions, please write to our grievance officer [Bhavik Vala] at [Bhavik.Vala@cryptosmartlife.com].
Addendum: Third Party Exchange Accounts
We may, in our sole discretion facilitate
purchase or sale of Digital Assets in proportion to the ratio listed in Baskets
using the services of a third-party Digital Assets exchange (“Exchange”)
and/or wallets integrated on the CryptoSmartlife platform.
To execute such transactions on the Exchange,
you must link your CryptoSmartlife Account to your account with the Exchange (“Exchange
Account”) and/or wallets. We will authenticate your Exchange Account
through applicable processes. By linking your Exchange Account:
You understand that we will (i)
have access; (ii) process; (iii) and store information provided by
you and contained in your Exchange Account, including your email address as
linked to your Exchange Account.
You authorize us to send transaction
instructions, received from you for the purchase or sale of Digital Assets, to
your Exchange Account on your behalf. However, you understand your Exchange executes
such instructions and not us. Accordingly, any debits or credits to your
Exchange Account will also be carried out by your Exchange, as per your
If your Exchange Account becomes
unavailable or our access to the same is terminated
by the Exchange or you, you will not be able to use this service.
CryptoSmartlife is not responsible incase your
connected exchange and/or wallet is hacked by outside sources.
Your use of the Exchange and the Exchange
Account will continue to be governed by the Exchange’s applicable policies
may be implemented from time to time).
Addendum: Anti-Money Laundering Addendum
CryptoSmartlife wants to ensure that no
unethical or illegal practices take place using its Services. Accordingly, we
have instituted some processes to verify your identity and to prevent any
illegal activities through our Services. This Anti-Money Laundering Addendum
("AML Addendum") documents these processes.
This AML Addendum is a part of and
incorporated within and is to be read along with our Terms. Words used in
this AML Addendum, but not defined here, will have the meaning assigned to them
All users of our Services must abide by
this AML Addendum. You must read this AML Addendum before accessing or using
our Services. By accessing, browsing, or using the Services, you agree to this AML
Addendum. If you do not agree to it, you must not access, browse or use the
The purpose of this AML Addendum is to
document the processes we have in place to ensure ethical use of our Services.
Some of these processes include:
having a system in place for
preventing money laundering, terror financing and any other illegal activities
through our Services;
conducting KYC verification
of all our users;
identifying, monitoring and
reporting relevant transactions to appropriate authorities;
maintaining relevant records
as per applicable law; and
training our staff on the
meaning of AML and counter-terrorism financing and their responsibilities
pursuant to the applicable law.
KYC is the guiding principle for AML
measures. KYC of a user helps us understand the risk profile of our users and
their financial dealings better. In turn, this information helps us comply with
our AML obligations effectively. Our KYC process includes:
verifying your identity
using reliable sources;
conducting on-going due
diligence and scrutiny of your CryptoSmartlife Account to ensure that the transactions
conducted are consistent with your risk profile; and
information about you to identify who is the actual Beneficial Owner of your CryptoSmartlife Account
or on whose behalf transactions in your CryptoSmartlife Account are conducted.
If you are a body corporate, we must
identify the persons who have a material say in your decision making. Hence, we
require you to share information which can help us identify your Beneficial
Owners, if any.
The term “Beneficial Owner” means:
- in case of companies, the natural person
who has ownership of over 25% (twenty five per cent) of the shares, is
entitled to over 25% (twenty five percent) of the profits, or has the
power, directly or indirectly, to appoint or elect more than half of the
board of directors of such company, as the case may be; and
- in case of partnership firms/Limited
Liability Partnerships, the natural person who has ownership of over 15%
(fifteen per cent) of the capital or is entitled to over 15% (fifteen per
cent) of the profits of such firm, as the case may be.
Our compliance/principal officer oversees
the effective operation of this AML Addendum and compliance with the applicable law. We have appointed [Bhavik
Vala] as our compliance/principal officer. You may reach him at [Bhavik.Vala@cryptosmartlife.com].
We have also appointed a designated director in compliance with the AML
You must ensure:
compliance with the terms
described in this AML Addendum and refrain from using or attempting to use the
Services in any manner which results in the commission of an offence;
that the bank account/s you
use to register with us are held only with a scheduled commercial bank and are
compliant with all KYC procedures mandated under applicable law;
that any personal
information and/or identification documents submitted by you belong to you (and
not to any other person); and
that you file a fresh proof
of address within 3 (three) months of making any changes to the address
mentioned in the ‘proof of address’ submitted by you at the time of
registration of the CryptoSmartlife Account.
To ensure the safety of our Services, we may carry out a
risk-assessment of our users, based on these factors among others:
identification information submitted by the user;
type of user;
nature and value of transactions undertaken;
other usage of our Services; and/or
requirements under applicable law including any
guidance issued by various governmental and inter-governmental organizations.
You are not entitled to seek disclosure
of your risk assessment. Based on the risk assessment, we may monitor and
review your transactions more closely, enhance the KYC requirements, and/or
report your transactions to relevant law enforcement authorities, as we deem
Transaction Monitoring and Maintenance of
Monitoring transactions and
maintaining their records are essential to ensure AML safeguards. We maintain a
record of all transactions executed and attempted to be executed on our
Services. This record contains information including, without limitation:
the parties to a transaction;
the relevant IP addresses along with timestamps
public keys (or equivalent identifiers);
addresses or accounts involved (or equivalent
the nature and date of a transaction; and
the amount involved in a transaction.
We regularly monitor
transactions to promptly identify and
highlight certain kinds of transactions including:
Suspicious Transactions (as defined below);
transactions of value more than ten lakh rupees
(INR 10,00,000) or its equivalent in Digital Assets/foreign exchange;
all series of transactions integrally connected
to each other which have been individually valued below ten lakh rupees (INR
10,00,000) or its equivalent in Digital Assets/foreign currency, where such
series of transactions have taken place within a month, and the monthly
aggregate exceeds an amount of INR 10,00,000 or its equivalent in a Digital
Retention of Records
maintain and preserve the following information and/or data subject to
Records of all transactions
executed on our Services, for a period of at least 5 (five) years from the date
of each transaction.
Records of transactions
specifically identified above for a period of at least 5 (five) years,
including but not limited to the information about the nature, value and
parties to such transactions, and their date of remittance.
Identification records of
all our users including, KYC information submitted to us during the subsistence
of and for a period of at least 5 (five) years from the date of termination of
such user’s CryptoSmartlife Account.
10. Suspicious Transactions
Under this AML Addendum, “Suspicious
Transactions” mean the following:
Terrorist Financing: transactions which, in good faith
appear to be used, in full or in part, by any terrorist or related
organization, or in order to carry out any of the activities relating to
terrorism, or terrorist acts; and/or
Unusually Complex: transactions which to a person acting
in good faith appear to have been structured in a manner of unusual or
unjustified complexity; and/or
Malafide Purpose: transactions which could not have been
made in good faith or have no economic rationale; and/or
Fraud: any act or omission, including a misrepresentation
that knowingly or recklessly misleads, or attempts to mislead, a party
to obtain a financial or other benefit or to avoid an obligation; and/or
Corruption: transactions or arrangement that, to a person
acting in good faith, appear to be offering, giving, receiving, or
soliciting, directly or indirectly, anything of value to improperly influence
the action of any government authority or public servant; and/or
Collusion: transactions or arrangement that, to a person
acting in good faith, appear to be designed to achieve an improper purpose,
including influencing improperly the actions of another party; and/or
Money Laundering: transactions which, to a person acting
in good faith, appear to involve proceeds of any offence listed in the
Schedule to the Prevention of Money Laundering Act, 2002.
If it is brought to our knowledge or we
become suspicious that you are engaging in any Suspicious Transactions, we
reserve the right to terminate your CryptoSmartlife Account and report all Suspicious Transactions to appropriate
11. Sharing of Information
We may share the information you share with
us or about your transactions on our Services with our affiliates, service
such information with appropriate enforcement authorities. To improve the
integrity and transparency of transactions on our Services, you are encouraged
to report any information you have regarding any Suspicious Transactions or
transactions you have reason to believe are dubious in nature, to our
compliance officer [Bhavik Vala] at [Bhavik.Vala@cryptosmartlife.com].