Software User Agreement and Terms of Service

Version 2.2.0 from 2021-07-28

Software User Agreement and Terms of Service

This ‘Software User Agreement and Terms of Service’ define terms of use of software developed and provided by

Data Protection Corporation and it’s services, and constitute a legal agreement between you as a user (hereinafter
‘User’ or ‘you’) and Data Protection Corporation (hereinafter “the Company“, “Data Protection Corporation”, “we” or “us”)

Terms and Definitions

“Account“ - is the company or personal account which has been created or is about to be open by the User on the Stex page. The User’s personal information, the records of the usage, the transactions history (incl. deposits, withdrawals, orders) is contained.

“AML or Anti-Money Laundering“ - is a set of procedures, laws, and regulations designed to stop the practice of generating income through illegal actions.

“Communication“ - means any communication between the User and the Company via emails or STEX support channels to provide information, documents, notifications or any other details to get/provide the services.

“Company“ - a service provider - Data Protection Corporation.

“Delisting“ - is the process of removing a token from a STEX virtual trading platform.

“Deposit“ - means the User’s account replenishment with funds.

“Fee“ - means the commission paid by the User to the service provider for completed trade orders and withdrawals. Trading fees are available on  https://app.stex.com/pairs-specification and may be changed from time to time.

“Fiat currency“ - is the government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

“Force Majeure“ - means any loss, delay or failure is caused by fire, flood, explosion, accident, war, strike, embargo, governmental requirements, civil and military authority, Act of God, civil unrest, unavailability of the public internet, hacking or distributed DDoS attacks, inability to secure materials or labour, termination of vital agreements by third parties, the action of the other party or any other cause beyond such party’s reasonable control.

“Funds“ - mean the amount of Fiat and Virtual currency used during the execution of transactions (incl. deposits, withdrawals, orders).

“KYC or Know Your Customer“ - is a process or set of procedures designed to ascertain an identity using government-supplied identification and visual verification of likeness to the document of standing.

“Order“ - means User’s offer to Deposit, Withdrawal and/or Trade transaction into, out from or at User Account, which is technically executed by STEX.

“Privacy Policy“ - information relating to our collection, use, storage and disclosure of your personal information. The STEX Privacy Policy is hereby incorporated by reference into and made a part of, these Terms and available at  https://www.stex.com/privacy-policy.

“Service“ - means the variety of services provided by Data Protection Corporation under these Terms to the User.

“Software“ - an online trading platform (app.stex.com) that is used to trade in virtual cryptocurrency.

“Third Party“ - a service provider who acts on behalf of the Company.

“Token“ - is a digital sequence that represents a uniquely identifiable asset or right in holding within the platform.

“Trade“ - means the act of the exchange of cryptocurrencies or an equivalent of Fiat money, owned by the User, to the cryptocurrencies or an equivalent of Fiat money owned by another user to make a profit.

“User“ - is a customer of Data Protection Corporation who uses the platform www.stex.com for the purchase and exchange of cryptocurrencies, as well as trading.

“Virtual currency“ - means a value represented in the digital form, which is digitally transferable, preservable, or tradable and which natural persons or legal persons accept as a payment instrument, but that is not the legal tender of any country or funds for Article 4(25) of Directive (EU) 2015/2366 of the European Parliament and the Council on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC, and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, pp. 35–127) or a payment transaction for points (k) and (l) of Article 3 of the same Directive.

“Withdrawal“ - means any funds transfer from the User's Account to the external third-party service provider.

General provisions

This ‘Software User Agreement and Terms of Service’ define terms of use of software developed and provided by Data Protection Corporation and it’s services, and constitute a legal agreement between you as a user (hereinafter ‘User’ or ‘you’ or ‘person’) and Data Protection Corporation (hereinafter “the Company“, “Data Protection Corporation”, “we” or “us”).

DATA PROTECTION CORPORATION  registered under registry code 229222, whose legal address is Suite 9, Ansuya Estate, Revolution Avenue, Victoria, Seychelles.

This agreement is deemed to be concluded in the Republic of Seychelles between you and the Company on the date and time you start using the software and/or service provided by the Company. Use of the software and service occurs in the Republic of Seychelles regardless of the user's physical location.

These are the legal terms and conditions of using the software and the service. No other materials, including website texts, prospects, booklets, blog posts, and other marketing material should be considered as establishing and defining legal relationship between the user and the Company, nor the legal status of software.

THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.

Due diligence and KYC

The purpose of customer due diligence is to prevent the use of assets and property obtained in a criminal manner in the economic activities of credit institutions and financial institutions and in the services provided by them whose goal is to prevent the exploitation of the financial system and economic space of the Republic of Seychelles for money laundering and terrorist financing. Customer due diligence is aimed, first and foremost, at applying the Know-Your-Customer principle, under which a customer shall be identified and the appropriateness of transactions shall be assessed based on the customer’s principal business and prior pattern of payments. In addition, customer due diligence serves to identify unusual circumstances in the operations of a customer or circumstances whereby an employee of the Company has reason to suspect money laundering or terrorist financing.

To be able to use services provided by the Company the verification procedure is not mandatory. However, the Company reserves the right at any time to require to complete a verification procedure providing the first identification documents (ID/passport, driving licence). Also, the Company may request a second User identification document: a bank statement or utility bill no older than 3 months, which includes the User's full name and current address.

The requirement for the measures of prevention of money laundering and terrorist financing is that the Company does not enter into transactions or establish relationships with anonymous or unidentified persons. Legislation requires that the Company waives a transaction or the establishment of a business relationship if a person fails to provide sufficient information to identify the person or Company identifies facts whose characteristics refer to the use of criminal proceeds or terrorist financing or the commission of related offences or an attempt thereof or concerning which the Company suspects or knows that it constitutes money laundering, either terrorist financing or the commission of related offences. Also, legislation requires not to establish or continue business relationships if the person fails to submit sufficient information to apply a customer due to diligence measures.

Under current law the Company has the right, taking into account the special requirements and restrictions provided by law, to use the services of a third party under a contract the subject of which is the continuing performance of activities and continued taking of steps required for the provision of (a) service(s) by the Company to its customers and that would normally be performed and taken by the Company itself. For this section, third parties include, for instance, agents, subcontractors and other persons to whom the Company transfers the activities relating to the provision of the services provided as a rule by the Company in its economic activities.

If the company does not provide otherwise for a particular user or group of users, user identification is provided by the following identification services:

  • Cryptonomica: provided by Cryptonomica Ltd., 3 Gower Street, London, WC1E 6HA, United Kingdom, registration # 11331467
  • Smart-ID: SK ID Solutions AS, Pärnu Ave. 141, 11314 Tallinn, Estonia, registry code: 10747013

The user must take into account that, given the legal obligations of the company under the Money Laundering and Terrorist Financing Prevention Act and other relevant laws Company should keep the personal information of the users, and such information cannot be removed or deleted by the user's request.

User has legal obligation to inform the Company is, he/she is:

  1. a politically exposed person;
  2. a person whose place of residence or seat is in a country where no sufficient measures for prevention of money laundering and terrorist financing have been taken;
  3. a person concerning whose activities there is prior suspicion that the person may be involved in money laundering or terrorist financing;
  4. a person concerning whom international sanctions are imposed;
  5. if his/her identity document is stolen.

User warrants that they will not use the Company services to hold or trade-in funds or digital assets which they know or suspect to violate anti-money laundering laws, sanctions, or other relevant related regulations. These include, but are not limited to, supplying the virtual currency to individuals or countries subject to any financial sanction regimes. In case of the user receives any funds or virtual currency from other users in the course of their use of the Company services which they know or suspect to contravene applicable anti-money laundering laws, sanctions and other relevant related regulations, the user warrants that they will immediately notify Company by e-mail amlofficer@stex.com by including all relevant details and further warrants that user will not transfer any such funds or digital assets out of their account or any other digital asset wallet under user control without Company’s written permission.

The detailed description of the due diligence measures and required documents and information from the users is described in the “KYC and due diligence measures description” available on our website www.stex.com.

STEX reserves the right to collect Customers' identification information for AML Policy purposes. This information is processed and stored strictly under the STEX Privacy Policy.

Eligibility and Acceptable Use

You must be an adult to use our software and service.

When accessing or using our software and 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 software and 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 software and services, or that could damage, disable, overburden or impair the functioning of our software in any manner;
  • Use our software and 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 software or to extract data;
  • Use or attempt to use another user's account without authorization;
  • Attempt to circumvent any content-filtering techniques we employ or attempt to access any service or area of our software that you are not authorized to access;
  • Develop any third-party applications that interact with our software without our prior written consent;
  • Provide false, inaccurate, or misleading information;
  • Encourage or induce any third party to engage in any of the activities prohibited in the European Union or the country of your residence.

User profiles and wallets

The precondition for the providing of the service is the registration of the user profile on the site. Registration is subject to the rules outlined in Procedural and internal control rules of the Company under the Money Laundering and Terrorist Financing Prevention Act and Privacy and Cookie Policy.

All information provided by the user or collected about the user, as well as the user's wallet and any balances on the user's wallet are connected to the user profile.

We may, in our sole discretion and without liability to you, with or without an explanation refuse to let you register a profile and/or open a wallet.

The user's profile and wallet can be deleted at the user's request within 30 days from the moment of such a request. The user has to withdraw all virtual or fiat currency balances in the wallet before requesting its deletion.

In case of deleting user’s profile and wallet at the user's request, if the user failed to withdraw virtual or fiat currency balances before the moment of deleting the profile and wallet, we reserve the right to charge the one-time fee in the full amount of the balances in virtual or fiat currency in the wallet to be deleted.

Profiles and wallets deleted at the user's request may be restored at the user's request within a year from the moment of deletion, but we in no way guarantee the possibility of their recovery. In the case of profile and wallet recovery, the fee charged, as indicated in the previous paragraph, will not be returned to the user.

User’s profile and wallet are considered abandoned if meet at least one of the following conditions:

  • the user has not accessed his profile or wallet for more than 1 year (365 days);
  • the user that had been previously successfully verified has no submitted verification requests with at least one valid document for more than 1 year (365 days) from the last date of verified status;
  • the user has no record of submitting verification requests with at least one valid document for more than 3 months (90 days).
The fee will be applied to each abandoned wallet with prior email notification to the user in the amount of 1% of the wallet whole remaining balance per day. Abandoned profiles and wallets with zero balances will be deactivated.

In all cases of deleting or deactivating a user’s profile or wallet, information about the user and about user transactions necessary to comply with the requirements of the law, in particular about money laundering, is stored for the time necessary to comply with the requirements of such legislation.

Delisting conditions

To ensure the security of users’ assets and the normality of investment, STEX will carry a prudent consideration on token delisting. However, the corresponding action will be taken according to the terms that are violated and the token may be prohibited to work in a transaction, or delisted without returning initial payment if the following situations occurred, including but not limited to (hereinafter Delisting conditions):

  • Serious legal issues threaten the Token;
  • Technical problems occur on the token wallet or security concern cannot have a timely settlement; Involuntary token increasing, token unlock with no accordance with the rules and malicious market manipulation, etc., appears in the developing team;
  • Severe deviation in information disclosure;
  • Sudden forks emerge under the situation that there is no communication with the investors from the Token community;
  • Daily turnover is less than 5 thousand US dollars continuously of 15 days or zero turnovers continuously of 5 days;

Other situations that do not meet the previously mentioned requirements for delisting will be performed according to the actual situation.

Due to strategy adjustment and development needs, the Token Party requires delisting voluntarily. Token will be delisted on the STEX platform.

In case if certain virtual or fiat currency is delisted from our platform provided that the user failed to withdraw such virtual or fiat currency in terms of 14 days from the moment of notification about delisting sent to a user, we reserve the right to charge the one-time fee in the full amount of the delisted virtual or fiat currency.

Cancelling orders or restricting user access

The Company has the right to cancel the order in case of:

  • a swap (change of the blockchain or contract);
  • rebrand, merge, or split of a coin;
  • removing the virtual currency trading pair from the market (no activity on the market for a long time);
  • deleting cryptocurrencies (entails deleting pairs and orders);
  • illegal activity of a user (exploiting vulnerabilities of the company's blockchain or trading platform);
  • a request from law enforcement agencies;
  • or if the company suspects the user's involvement in money laundering or terrorist financing.

The Company has the right to freeze the user`s account if:

  • the company has detected suspicious user activity;
  • the company has detected an orphan transaction or a user's attempt to perform a non-existent transaction or simulate a transaction that is not confirmed in the blockchain);
  • the company has observed that the client is trying to use blockchain vulnerabilities unfairly;
  • the company has received a motivated request or interference about the illegality of the transaction from the developers of coin or token;
  • the verification period expires;
  • the company has received the request from law enforcement agencies;
  • the company suspects the user's involvement in money laundering or terrorist financing.

The user can also enable account freezing if he suspects that his mailbox has been hacked or that a third party has gained access to his account or is trying to log in to his account. To do this, the client needs to click the freeze account button on the company's platform in their account. If the client self-consciously initiated account freezing, then further recovery of the user's account after freezing occurs through the Company support. For restoring an account during freezing, the user must go through the verification process again, as well as provide the Company with additional information about the user's activity before account freezing for the Company to make sure that the user's data is correct.

The company has the right to pause the transaction if:

  • the Company detects that the transaction comes from suspicious sources (wallets);
  • the transaction does not have confirmations in blockchain;
  • the transaction can be cancelled if it has an invalid status in the blockchain.

Trading Risks

Engaging in trades may be risky, especially if you engage in any margin trades or use any other sophisticated trading options. You should not use software and/or services if you do not understand these risks, or if you do not have sufficient qualifications.

Discontinuance or change of software/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 software or services.

The company reserves the right to change the Software User Agreement and Terms of Service at any time without any prior notice.

Dispute resolution and Governing law

Any dispute, controversy, or claim arising out of or relating to this agreement, or the breach, termination, or invalidity thereof, should be solved by way of negotiations. If a dispute cannot be resolved through negotiations between the Company and user, the user or Company has the right to refer the dispute to a county court for resolution by the legislation in force in the Republic of Seychelles.

These terms and all non-contractual or other obligations arising out of or in connection with them are governed by the laws of the Republic of Seychelles.

Force majeure

The Parties shall not be liable for failure to fill obligations if this has been caused by Force Majeure.

Under Force Majeure the Parties shall mean a circumstance which hinders the performance of the Contract or an unforeseen event which is beyond the control of the Parties, i.e., they cannot influence it, and they could not reasonably have foreseen it (hereafter “Force Majeure”), e.g.: changes in legislation; state of war, strikes, lock-outs, revolts, blockages; fires, explosions; natural disasters or exceptional weather conditions, including severe rainfall or snowfall, storms, lightning, frost, etc.; power or transmission failures, physical damage to communications cables and equipment by third persons, malfunctions in communications networks or communications lines of third persons or any other circumstances causing disturbances to communications; malicious attacks against infrastructures of Internet service providers of Company or Company`s partners; other circumstances which are beyond the control of the Parties and which they could not affect or which, at the time the Contract was entered into, they could not reasonably have been expected to take into account, avoid, or overcome the impediment or the consequences thereof which render the performance of the contractual obligations impossible.

Any delays or errors in Company software/services that have subcontracted to fill the contractual obligations and which have been caused by the above circumstances shall be deemed to be Force Majeure as well.

If a Party’s ability to perform contractual obligations has only partially been affected by Force Majeure, the Party shall be responsible for the performance of these obligations, the performance of which Force Majeure does not hinder.

The occurrence of Force Majeure shall not release the Parties from the obligation to take any and all measures to avoid or reduce the damage caused by the failure to fill contractual obligations. A Party shall resume performance of its contractual obligations as soon as the circumstances of Force Majeure have been eliminated.

A Party who does not fill their contractual obligations because of Force Majeure shall inform the other Party of the circumstance and its effect on their ability to fill the obligations and do that immediately after they learned or should have learned of this circumstance.

Should Force Majeure, which hinders the fulfilment of contractual obligations, last more than 180 (one hundred and eighty) days, the Parties shall have the right to terminate the Agreement without any right to claim compensation for the resulting damage.

Severability

If any term, clause or provision of these Terms is held unlawful, void or unenforceable, then that term, clause or provision will be severable from these Terms and will not affect the validity or enforceability of any remaining part of that term, clause or provision, or any other term, clause or provision of these Terms.

Other provisions

These agreements and terms are not boilerplate. If you disagree with them, believe that any should not apply to you, or wish to negotiate these terms, please contact Data Protection Corporation and immediately stop using software and service. Do not use software and service until you agree to this agreement and terms of use.

Contact

On all questions related to AML policy, procedures and issues, please contact amlofficer@stex.com

On all other questions please contact support@stex.com