Announcement

Effective Date: January 4, 2018

Service Provider

CoinACE is owned and operated by blockchen incorporated. All services provided under the CoinACE brand are managed and maintained by blockchen incorporated.

Scope

These Terms of Service and any terms expressly incorporated herein ("Terms") apply to any access to, or use of, any services made available under the name "CoinACE" and using the website CoinACE.com (which is accessible through the web) or our mobile applications or any application programming interface (API) provided by CoinACE relating to the Site, and to any other related services provided by CoinACE relating to the Site (collectively, the "Services"). By clicking on an "I Agree" button or check box presented with these Terms or by accessing or using any Services, you ("you" or the "User") agree to be bound by these Terms.

Preamble

CoinACE will provide Services with respect to certain cryptocurrency, cryptographic tokens and other digital rights or assets which neither represent financial instruments nor e-money ("Tokens") made available for trading on the Site. RISK DISCLOSURE: BY ACCESSING OR USING ANY CoinACE SERVICES YOU ARE VOLUNTARILY CHOOSING TO ENGAGE IN SOPHISTICATED AND RISKY ASSET TRANSACTIONS. YOU ARE FURTHER ACKNOWLEDGING THAT YOU ARE AWARE OF THE MANY RISKS ASSOCIATED WITH THE USE OF THESE SERVICES AND WITH ENGAGING IN TRANSACTIONS IN CRYPTOCURRENCIES, INCLUDING BUT NOT LIMITED TO, RISKS OF FINANCIAL LOSS, TECHNOLOGY GLITCHES (INCLUDING BUT NOT LIMITED TO PROBLEMS WITH THE BLOCKCHAIN TECHNOLOGY), AND HACKING. CoinACE WORKS HARD TO PROVIDE STATE-OF-THE-ART SYSTEMS AND SECURITY. NONETHELESS, CERTAIN ISSUES AND RISKS ARE UNAVOIDABLE, AND IF SUCH ISSUES OR PROBLEMS ARISE IN CONNECTION WITH YOUR USE OF CoinACE'S SERVICES, INCLUDING TECHNICAL DIFFICULTIES WITH DEPOSITING OR TRADING CRYPTOCURRENCIES, IT MAY TAKE DAYS, WEEKS, OR MONTHS TO RESOLVE, AND SOME ISSUES MAY NOT BE RESOLVED AT ALL. BY AGREEING TO THESE TERMS, YOU ACKNOWLEDGE THAT CoinACE IS NOT RESPONSIBLE FOR THE AFOREMENTIONED RISKS, AND YOU VOLUNTARILY ASSUME AND ACCEPT SUCH RISKS IN DECIDING TO ENGAGE IN CRYPTOCURRENCY TRANSACTIONS ON THE CoinACE PLATFORM.

ACCEPTANCE MODIFICATION OF TERMS

By clicking on the "I agree" button presented with these Terms, you confirm that you have received the Terms and acknowledge their content. In particular, by using the CoinACE Trading Platform and associated Services, you also signify your consent to our Privacy Policy (cp. Section 5.), as well as any other terms and provisions referred to herein. If you do not accept these Terms, you may not use the CoinACE Platform and the Services.

ELIGIBILITY

General Requirements

The Services are intended solely for users who are 18 or older and who satisfy the criteria described in these Terms. You represent and warrant that you: (a) are not located in, or a citizen or resident of the United States, (b) are of legal age to form a binding contract; (c) have not previously been suspended or removed from using our Services; (d) are not a legal or natural person with US citizenship, domicile or tax liability in the USA or according to the sanction lists of OFAC, the United Nations, the European Union, the United Kingdom, Austria, Switzerland, Liechtenstein or other sanction lists and also no Politically Exposed Person (PEP). Sanction lists include both lists of sanctioned states (country lists) and lists of sanctioned persons (name lists); (e) are not placed on the U.S. Commerce Department's Denied Persons List; and (f) have full power and authority to agree to these Terms.

Restricted Locations

You may not use the Services if you are located in, or a citizen or resident of the United States. You may not use the Services if you are located in, or a citizen or resident of any state, country, territory or other jurisdiction that is embargoed by the United States, or if you are on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List, or if you are restricted or prohibited from engaging in any type of trading by the European Union, Hong Kong Monetary Authority, Hong Kong Customs and Excise Department, Office of Foreign Asset Control or any other administrative law enforcement agencies. You may not use the Services if you are located in, or a citizen or resident of any state, country, territory or other jurisdiction where your use of the Services would be illegal or otherwise violate any applicable law. You represent and warrant that you are not a citizen or resident of any such jurisdiction and that you will not use any Services while located in any such jurisdiction, and that you are not on any trade or economic sanctions list. You also may not use the Services if you are located in, or a citizen or resident of, any other jurisdiction where CoinACE has determined, at its discretion, to prohibit use of the Services. CoinACE may implement controls to restrict access to the Services from any jurisdiction prohibited pursuant to this Section 2.2. You will comply with this Section 2.2, even if CoinACE's methods to prevent use of the Services are not effective or can be bypassed.

Enterprise User

Unless CoinACE has provided prior, written approval to use your account for trading on behalf of a corporation or other legal entity (an "Enterprise User"), you will use the Services and your CoinACE Account (as defined below) only for your own account and not on behalf of, or for the account of, any third party. If CoinACE has approved your account for trading on behalf of an Enterprise User, you will use the Services and your CoinACE Account solely for the account of the specified Enterprise User. If you use any Services on behalf of any Enterprise User, you agree to these Terms on behalf of yourself and any such Enterprise User, and you represent and warrant that you have the authority to bind the Enterprise User to these Terms and that both you personally and the Enterprise User will be jointly and severally liable under these Terms for any violation of these Terms or any other act or omission by the Enterprise User or by you. Without limiting the foregoing, you agree neither you nor the Enterprise User will use or offer the Services or any derivatives thereof, including any Tokens made available for trading by CoinACE, to any person located in, or that is a citizen or resident of, the United States.

ACCOUNT

CoinACE Account

In order to use any Services, you must create and maintain an account through the Services ("CoinACE Account"; "User Account"). To create or maintain your CoinACE Account, or enable functions on your CoinACE Account, you will be required to provide CoinACE with certain information and documentation, including, as applicable, the information and documentation associated with identity verification and other screening procedures described in Section 3.3, below. You will: (a) create a unique password; (b) provide complete and accurate information; (c) promptly update any information you have provided so that the information is complete and accurate at all times; (d) maintain the security of your CoinACE Account by protecting your password from unauthorized access or use; (e) promptly notify CoinACE if you discover or suspect any unauthorized access or use of your CoinACE Account or any security breaches related to your CoinACE Account; and (f) be responsible for all activities that occur under your CoinACE Account, and accept all risks of any authorized or unauthorized access to your CoinACE Account.

Enhanced Security

CoinACE may offer optional enhanced security features for your CoinACE Account (including, for example, two-factor authentication). CoinACE encourages, but may not require, you to use any such enhanced security features. If you do enable enhanced security features, it is your responsibility to ensure the security of, and your continuous control over, any device or account that may be associated with the enhanced security features.

Identity Verification

Depending on the functions that you seek to enable on your account and CoinACE's risk determination, CoinACE may, in its discretion, require identity verification and other screening procedures with respect to you or transactions associated with your CoinACE Account. These verification and screening procedures may include, without limitation, checking the information you provide against the Specially Designated Nationals and Blocked Persons list maintained by the U.S. Office of Foreign Assets Control, the U.S. Department of Commerce Denied Persons list, and any similar list issued by any U.S. governmental authority or any other governmental authority as well as Non-Governmental and International Organizations prohibiting or limiting business activities or transactions with any persons. You may be required to provide CoinACE with certain personal information, including, but not limited to, your full name, address and state of residence, nationality, telephone number, email address, date of birth, taxpayer identification number, government identification number, government-issued ID or other proof of your identity, and information regarding your bank account. For Enterprise Users additional information may be required like: Company name, legal form, domicile address, country of domicile, date of incorporation, place and date of entry in the commercial register, if any, as well as the names of the bodies or trustees formally acting on behalf of the legal entity as well as the information identifying the ultimate beneficial owners of this legal entity. You hereby acknowledge that CoinACE, directly or through a third party, may make inquiries CoinACE considers necessary to verify your identity and/or protect against fraud, including but not limited to: (a) query identity information contained in public reports (e.g., your name, address, past addresses, or date of birth); (b) query account information associated with your linked bank account (e.g., name or account balance); and (c) take action CoinACE reasonably deems necessary based on the results of such inquiries and reports. CoinACE will have no liability or responsibility for any permanent or temporary inability to access or use any Services, including your inability to withdraw Tokens or execute Trades, as a result of any identity verification or other screening procedures, as long as CoinACE complies with its legal or contractual obligations regarding identity verification or other screening procedures.

Responsibility for Account Activities

You will be bound by, and hereby authorize CoinACE to accept and rely on, any agreements, instructions, orders, authorizations and any other actions made, provided or taken by anyone who has accessed or used your CoinACE Account regardless of whether the access is authorized or unauthorized. Upon receipt of written notice from you that the security of your account has been compromised, CoinACE will take reasonable steps to protect your account, including, for example, to cease to allow actions initiated using any compromised account passwords. But, the first sentence of this section will continue to apply to any other account password, and any substitute password issued to replace the compromised account password.

Number of CoinACE Accounts / Beneficial Ownership

CoinACE may, in its sole discretion, limit the number of CoinACE Accounts that you may hold, maintain, or acquire, consistent with its AML/KYC policy. In addition to that you are not allowed to hold individual accounts for third parties. Any individual account holder must be the beneficial owner of the transferred funds.

RISK DISCLOSURES; ASSUMPTION OF RISKS; RELEASE OF CoinACE

The risks described in this Section 4 may result in loss of Tokens, decrease in or loss of all value for Tokens, inability to access or transfer Tokens, inability to trade Tokens, inability to receive financial benefits available to other Token holders, and other financial losses to you. You hereby acknowledge that these risks fall outside the sphere which may be influenced by actions of CoinACE. Therefore, CoinACE will have no responsibility or liability for, any such risks. You represent and warrant that you have: (a) the necessary technical expertise and ability to review and evaluate the security, integrity and operation of any Tokens that you decide to acquire or trade; and (b) the knowledge, experience, understanding, professional advice and information to make your own evaluation of the merits and risks of any Token or trade. You accept the risk of trading Tokens by using the Services, and are responsible for conducting your own independent analysis of the risks specific to the Tokens and the Services. You should not acquire or trade any Tokens unless you have sufficient financial resources and can afford to lose all value of the Tokens. CoinACE's decision to support the transfer, storage or trading of any particular Token through the Services does not indicate CoinACE's approval or disapproval of the Token or the integrity, security or operation of the Token or its Underlying Technology. The risks associated with Tokens and trading Tokens apply notwithstanding CoinACE's decision to support a particular Token. CoinACE does not provide trading advice, does not have any fiduciary duty to you or any other user and does not make any warranty about the suitability of any Token for trading or ownership by you.

GENERAL SERVICE TERMS

Conditions and Restrictions

CoinACE may, at any time and in its sole discretion, refuse any transfer request, Order or other transaction request submitted via the Services, impose limits on the amounts of transfers or Trades that can be completed on a daily or other periodic basis or impose any other conditions or restrictions upon your use of the Services, without prior notice. For example, CoinACE may: (a) limit the number of open Orders that you can establish via the Services; (b) restrict transaction requests from certain locations; or (c) restrict withdrawals or trading if there is a reasonable suspicion of fraud, diminished capacity, inappropriate activity, or if CoinACE receives reasonable notice that your ownership of some or all of the Tokens in your CoinACE Account is in dispute.

Accuracy of Information

You must provide any information required by any screen displayed within the Services. You represent and warrant that all information you provide via the Services is accurate and complete in all respects.

Support for Tokens

CoinACE retains the right, in its sole discretion, to determine whether to support transfer, storage or trading of any Token using the Services, and may discontinue or terminate any support for any Token at any time for any or no reason. Unless otherwise required by law or law enforcement, CoinACE will make reasonable efforts to notify you of its decision to cease to support of a Token. If CoinACE ceases to support transfer or storage of a particular Token using the Services, CoinACE will use commercially reasonable efforts to notify you at least thirty (30) days prior so as to afford you with an opportunity to transfer the affected Token from your Hosted Wallet to an External Address. If you do not transfer the affected Token out of your Hosted Wallet prior to cessation of support for the Token by CoinACE, the Token may be lost due to your inability to access, transfer or otherwise control the Token. CoinACE will not be liable to you for any losses, liability or expenses related to its decision to cease any support for any Token.

Derivative Protocols

Unless CoinACE notifies you or makes a public statement to the contrary, CoinACE does not support Derivative Protocols and you should not use your CoinACE Account to attempt to transfer, store, trade or engage in any other type of transaction involving a Derivative Protocol. CoinACE will have no responsibility or liability whatsoever in respect to any Derivative Protocol.

Compliance with Law; Taxes

You are responsible for complying with all applicable laws related to your trading activities and other use of the Services, including without limitation any reporting obligations and payment of all applicable taxes. You will determine what, if any, taxes apply to the Trades and any other transactions you complete via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. CoinACE is not responsible for determining whether taxes apply to your Trades or for collecting, reporting, withholding, or remitting any taxes arising from any Trades.

AML/KYC Compliance

CoinACE maintains internal anti-money laundering and know your customer compliance programs ("AML/KYC Program"). Each of these AML/KYC Programs is a risk-based program founded on requirements of the Due Diligence Act and Ordinance, other anti-money laundering laws and implementing regulations, and guidance promulgated by the Financial Action Task Force. Each of these AML/KYC Program may be updated from time-to-time, including the procedures that CoinACE uses to verify its customers' identities.

Error Correction Attempts

CoinACE may, at its option and discretion, attempt to correct, reverse or cancel any Order, Trade or transfer with respect to which CoinACE has discovered that there was an error, whether such error was by you, CoinACE or a third party. You hereby authorize CoinACE to attempt any such correction, reversal or cancellation described in the preceding sentence. CoinACE provides no guarantee or warranty that any such attempt will be successful and will have no responsibility or liability for the error or any correction attempt.

Property Disputes

If CoinACE receives notice that any Tokens held in your Hosted Wallet are alleged to have been stolen or otherwise are not lawfully possessed by you, CoinACE may, but has no obligation to, place an administrative hold on the affected Tokens or your Hosted Wallet. If CoinACE does place an administrative hold on some or all of your Tokens, CoinACE may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to CoinACE has been provided to CoinACE in a form acceptable to CoinACE. CoinACE will not involve itself in any such dispute or the resolution of the dispute. You agree that CoinACE will have no liability or responsibility for any such hold, or for your inability to withdraw Tokens or execute Trades during the period of any such hold.

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