1. Potential NewCurr Limited Company(OR NewCurr LLC) Services.
Your NewCurr LLC account (“NewCurr LLC Account”) encompasses the following basic NewCurr LLC Services, among others:
One or more hosted cryptocurrency(ies) wallets that allows users to store cryptocurrency(ies) private keys, and to track, transfer, and manage their cryptocurrency(ies) and account information and through which NewCurr LLC can facilitate cryptocurrency(ies) Transactions pursuant to instructions submitted by a user or authorized entity to NewCurr LLC (the “cryptocurrency(ies) Wallet”);
A cryptocurrency(ies) payment service through which users can use Utility Tokens to buy goods and services within the NewCurr Blockchain, and sell cryptocurrency(ies) to, NewCurr LLC (the “Payment Service”); and
For verified users in certain countries, accounts you may fund with Singapore Dollars, Chinese Yuan, Euros, British Pounds, U.S. Dollars, or Canadian Dollars for use in connection with the Payment Service, and/or other services as NewCurr LLC may permit from time to time (each, a “Currency Wallet”).
Each of these NewCurr LLC Services is described in detail below.
2. Creating a NewCurr LLC Account.
2.1. Registration of NewCurr LLC Account. In order to use any of the NewCurr LLC Services, you must first register by providing your name, e-mail address, password, and affirming your acceptance of this and all agreements provided. Upon successful completion of the registration process, NewCurr LLC will establish your NewCurr LLC Account. NewCurr LLC may, in our sole discretion, refuse to allow you to establish a NewCurr LLC Account, or limit the number of NewCurr LLC Accounts that a single user may establish and maintain at any time, subject to all securities laws, restrictions and KYC/AML policies.
2.2. Identity Verification. In order to use certain features of the NewCurr LLC Services, including certain transfers of cryptocurrency(ies) and/or currency, you may be required to provide NewCurr LLC with certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding your bank account (e.g., financial institution, account type, routing number, and account number). NewCurr LLC may also require you to answer certain questions or take actions in order to verify your identity, provide the NewCurr LLC Services to you, or comply with applicable law. In submitting this or any other personal information as may be required, you verify that the information is accurate and authentic, and you agree to update NewCurr LLC if any information changes. You hereby authorize NewCurr LLC to, directly or through third parties make any inquiries we consider necessary to verify your identity and/or protect against fraud, including to query identity information contained in public reports (e.g., your name, address, past addresses, or date of birth), to query account information associated with your linked bank account or qualifying credit/debit cards (e.g., name or account balance), and to take action we reasonably deem necessary based on the results of such inquiries and reports. You further authorize any and all third parties to which such inquiries or requests may be directed to fully respond to such inquiries or requests, including but not limited to whether you are an accredited investor or are in a country that such transactions are not legally allowed or approved of by NewCurr Limited company or NewCurr LLC
3. cryptocurrency(ies) Wallet.
3.1. Sending and Receiving cryptocurrency(ies).
3.1.1. As part of the services offered in connection with your NewCurr LLC Account, NewCurr LLC can help you send cryptocurrency(ies) to, and request and receive cryptocurrency(ies) from, third parties pursuant to instructions you provide through the NewCurr LLC Site (each such transaction is a “Blockchain Transaction”). You may initiate a blockchain Transaction by going to the NewCurr LLC Site, choosing to send or request, and entering the requisite information regarding the sender or recipient and the amount of cryptocurrency(ies) to be transferred. NewCurr LLC will then communicate with the blockchain network on your behalf, as necessary, to facilitate each blockchain Transaction in accordance with these instructions.
3.1.2. NewCurr LLC reserves the right to refuse to process or to cancel any pending blockchain Transaction as required by law or in response to a subpoena, court order, or other binding government order. NewCurr LLC cannot reverse a blockchain Transaction which has been communicated to and confirmed by the blockchain network.
3.1.3. NewCurr LLC processes cryptocurrency(ies) Transactions according to the instructions received from its users and we do not guarantee the identity of any user, receiver, requestee or other party. You should verify all transaction information prior to submitting instructions to NewCurr LLC as the relevant cryptocurrency(ies) Transaction may not be cancelled or reversed once initiated.
3.1.4. If you initiate a blockchain Transaction by entering the recipient’s blockchain address, NewCurr LLC will confirm that the blockchain address is valid; however, NewCurr LLC cannot confirm that the blockchain address belongs to the intended recipient. In the event you initiate a blockchain Transaction by entering the recipient’s email address and the recipient does not have an existing NewCurr LLC Account, NewCurr LLC will email the recipient and invite them to open a NewCurr LLC Account. If the designated recipient does not open a NewCurr LLC Account within 30 days, NewCurr LLC will return the cryptocurrency(ies) associated with the transaction to your NewCurr LLC Account.
3.2 cryptocurrency(ies) Storage & Transmission Delays. NewCurr LLC securely stores 100% of all cryptocurrency(ies) private keys in our control in a combination of online and offline storage. As a result, it may be necessary for NewCurr LLC to retrieve this information from offline storage in order to facilitate a cryptocurrency(ies) Transaction in accordance with your instructions, which may delay the initiation or crediting of such cryptocurrency(ies) Transaction for 48 hours or more. As a user of the NewCurr LLC Services, you accept the risk that a cryptocurrency(ies) Transaction facilitated by NewCurr LLC may be delayed and you agree not to hold NewCurr LLC responsible for any damages or injury arising out of or related to such delay.
3.3. Your cryptocurrency(ies) Transactions.
3.3.1 Third Party Transactions. NewCurr LLC has no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or sell to or from a third party (including other users of NewCurr LLC Services). NewCurr LLC is not responsible for ensuring that a buyer or a seller you are dealing with will actually complete the transaction or is authorized to do so. If you experience a problem with any goods or services purchased from, or sold to, a third party in connection with cryptocurrency(ies) transferred using the NewCurr LLC Services, or if you have a dispute with such third party, you must handle it directly with that third party. Due to the nature of cryptocurrency(ies), any cryptocurrency(ies) Transaction conducted using the NewCurr LLC Services is final regardless of any defects in or non-delivery of any goods or services purchased in connection with such cryptocurrency(ies) Transaction, or any other aspect of your transaction or relationship with the relevant third party. If you believe a third party has behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot adequately resolve a dispute with a third party, you may notify NewCurr LLC Support at [email protected] LLC.tech so that we may consider whether to take any action.
3.3.2. Refunds. NewCurr LLC is not responsible for merchant refund policies. Certain merchants may wish to process a refund to you via a separate cryptocurrency(ies) Transaction having a value equal to the transaction amount being refunded, as expressed in local currency (e.g., Euros), based on the then current Conversion Rate. As a result, you may receive less (or more) cryptocurrency(ies) via a refund than you initially used to pay the Merchant.
3.3.3. Taxes. It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions associated with your receipt or transfer of cryptocurrency(ies), and/or to the cryptocurrency(ies) Transactions you conduct through the NewCurr LLC Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Your transaction history is available through your NewCurr LLC Account.
3.4 Limits. NewCurr LLC reserves the right to change the transfer, payment, storage and velocity limits applicable to your cryptocurrency(ies) Wallet in our sole discretion. We may require you to provide us with information about yourself and/or your cryptocurrency(ies) Transactions if your transactions exceed certain government reporting thresholds, such as thresholds regarding financial recordkeeping and tax reporting.
3.5 Advanced Protocols. We do not currently support metacoins, colored coins, or any advanced protocol which supplements the core cryptocurrency(ies) Protocol. NewCurr LLC does not detect whether cryptocurrency(ies) Transactions associated with your NewCurr LLC Account may involve any such protocol use. Do not use your NewCurr LLC Account to effect any instruction or transfer involving an advanced protocol. NewCurr LLC is not responsible for any loss which may result from such use.
4. Payment Service.
4.1. Transactions with NewCurr LLC. When buying goods and services through the Payment Service you are selling cryptocurrency(ies) to NewCurr LLC directly. In this capacity, NewCurr LLC does not act as an intermediary or marketplace between other buyers and sellers of cryptocurrency(ies). The Payment Service is subject to the NewCurr LLC “Conversion Rate.” “Conversion Rate” means the liquidity adjusted price of a given cryptocurrency(ies) amount in terms of local currency as quoted to you on the NewCurr LLC Site at the time you begin a Payment transaction. For the purpose of any transaction which incorporates the Conversion Rate, you agree, as a condition of using any NewCurr LLC Services, to accept the Conversion Rate as the sole conversion metric.
4.2. Limits. NewCurr LLC imposes limits on the number of cryptocurrency(ies) that you may hold in a given moment, and that you may hold in your Currency Wallet, as further described in the Verification Procedures. NewCurr LLC reserves the right to change posted limits as we deem necessary or appropriate from time to time. NewCurr LLC does not guarantee the availability of its Payment Service, and the act of purchasing goods and services with NewCurr LLC does not result in a guarantee that you may sell your cryptocurrency(ies) to NewCurr LLC. If you wish to raise your limits, you may submit a request to [email protected] tech. We may require you to submit additional information about yourself, provide records, and arrange for meetings with NewCurr LLC staff (such process, “Enhanced Due Diligence”). NewCurr LLC reserves the right to charge you costs and fees associated with Enhanced Due Diligence, provided that we notify you in advance of any such charges accruing. In our sole discretion, we may refuse to raise your limits or we may lower your limits at a subsequent time even if you have completed Enhanced Due Diligence.
4.3.1. You agree to have cryptocurrency(ies) in NewCurr LLC wallet to prior to using Payment Service. If your cryptocurrency(ies) in NewCurr LLC wallet does not have sufficient funds to cover the purchase goods and services, NewCurr LLC may immediately reverse/cancel the transaction. NewCurr LLC is under no obligation to attempt to fulfill your purchase using an alternative payment method should your cryptocurrency(ies) payment method fail. You hereby authorize us to debit your Currency Wallet(s) or any of your payment methods which have been linked to your NewCurr LLC Account for the full or partial amount of your purchase and any other amounts owed by you to us hereunder. We may resubmit debits or charges to your payment methods until all amounts owed by you to us hereunder are satisfied in full.
4.3.2. We may deduct cryptocurrency(ies) held by you in a cryptocurrency(ies) Wallet equal to purchase amount of goods and services if a payment is successful. If such a payment is subject to a chargeback, reversal, claim or is otherwise invalidated. We may settel a transaction back to your wallet in cryptocurrency(ies) at current conversion rate as of the moment of settlement.
4.3.3. Refunds. In the event of refund NewCurr LLC will refund via a separate cryptocurrency(ies) Transaction having a value equal to the transaction amount being refunded, as expressed in local currency (e.g., Euros), based on the then current Conversion Rate. As a result, you may receive less (or more) cryptocurrency(ies) via a refund than you initially used to pay the Merchant.
4.3.4. We reserve the right to refuse to process, or to cancel or reverse, any purchases even after cryptocurrency(ies) have been deducted from your account(s), including but not limited to instances where NewCurr LLC suspects the transaction involves (or has a high risk of involvement in) money laundering, terrorist financing, fraud, or any other type of financial crime, in response to a subpoena, court order, or other government order, or if NewCurr LLC suspects the transaction relates to Prohibited Use or a Prohibited Business as set forth below. In such instances, NewCurr LLC will reverse the transaction and we are under no obligation to allow you to reinitiate a purchase at the same price or on the same terms as the cancelled transaction.
4.3.5. You do not have a statutory right to withdraw from a transaction to settle payment with cryptocurrency(ies) once you have instructed NewCurr LLC because the price of cryptocurrency(ies) fluctuates in accordance with the financial market for cryptocurrency(ies) which is outside the control of NewCurr LLC.
5. Currency Wallet.
5.1. Currency Wallets. Users who have verified their identity with NewCurr LLC and who reside in approved jurisdictions may establish and fund a Currency Wallet. Except as otherwise set forth herein, you may use your Currency Wallet only (1) to purchase cryptocurrency(ies) from NewCurr LLC, (2) to receive the proceeds of cryptocurrency(ies) sales to NewCurr LLC, (3) to transfer funds to and from your originating bank account, or (4) to transfer funds to and from a NewCurr LLC Account. Once you have successfully completed the requisite Verification Procedures, you may transfer currency from your bank account to NewCurr LLC using approved bank transfer methods in accordance with the limits set forth herein. Although NewCurr LLC will not charge a fee to facilitate such transfers, you may be required to pay bank transfer fees.
5.2. Availability. NewCurr LLC currently offers its Payment Services only in “Approved Countries,” listed on the website, You understand that only users who reside in Approved Countries and who are verified with the required level of verification applicable in the user’s country may transfer funds to NewCurr LLC and fund a Currency Wallet. If you send funds to NewCurr LLC and your Account has not been successfully verified for the required level of verification applicable in your country, or your residence or bank account is not within an Approved Country, or if you send funds in excess of the permitted daily limits, then NewCurr LLC will return all or the excess portion of funds to the originating bank account without adding funds to your Currency Wallet. Bank fees may apply to such transfers, and you are responsible for any such fees. All funds held in a Currency Wallet are held on trust by NewCurr LLC for the benefit of the user and may be used solely (1) to purchase cryptocurrency(ies) from NewCurr LLC, (2) to transfer funds to your Trading Account, when permitted, (3) to refund you by transferring funds to your originating bank account, (4) to provide you with the proceeds of the sale of cryptocurrency(ies) to NewCurr LLC by transferring funds to your bank account.
5.3. Limits. You may not initiate a deposit which exceeds your daily cryptocurrency(ies) buy limits. NewCurr LLC reserves the right to restrict deposits into your Currency Wallet(s) and/or to require you to withdraw funds from your Currency Wallet(s) if NewCurr LLC determines that your Currency Wallet(s) have reached, in sum, an excessive balance. You may not purchase or sell cryptocurrency(ies) in excess of your daily buy / sell limits, set forth below, regardless of the amount of funds held in your Currency Wallet(s).