(1) The fiat-based tokens balances of your holdings account represents the exact amount of your claim on the overall fiat currencies deposited for users.
(2) User accounts can be opened with a minimum of identification requirements but all account holders are obliged to comply by our KYC policies and AML procedures within either three months from the day the account was first opened, or when the total transaction volume of the account reaches or exceeds the amount of USD 2,500.00 equivalent in any supported currency, whichever the earlier.
(3) User account operators and holders are explicitly forbidden to use their accounts for any unlawful activity in their respective jurisdiction of residence.
(4) Users who use their accounts for commercial purposes are obliged to comply by the KYC and AML legislation of both, the rules in the jurisdiction of their respecive residence, as well as the rules of the residence of their respective customers.
(5) Users are obliged to consult with suitable experts or the respective authorities of their place of residence (and nationality where applicable) and establish that the use of the c-coin system is lawful and permitted in their jurisdiction.
(6) US nationals and residents of the United States can not apply for c-coin user holdings accounts as the obligations and requirements imposed on foreign merchants and service providers by the US authorities are untenable, impractical and an utter waste of time and resources.BY CONTINUING YOUR APPLICATION FOR A C-COIN USER ACCOUNT, YOU SPECIFICALLY DECLARE AND CONFIRM THAT YOU HAVE READ, DO UNDERSTAND, DID AND WILL COMPLY BY THE RULES ABOVE IF AND WHERE REQUIRED.