Tovest Limited (hereinafter referred to as "Tovest" or "we") is the operator of the "Platform" (as defined below) and the provider of the "Services" (as defined below). These Terms of Use (hereinafter referred to as "Terms") constitute a legally binding agreement between Tovest and you (hereinafter referred to as "you" or "User"), and govern your access to the Platform and use of the Services.
Any additional terms and documents (including but not limited to fee schedules, risk disclosures and privacy policies, and any applicable Product Terms), conditions, restrictions, disclaimers, and obligations are incorporated into these Terms by reference.
You should read these Terms carefully. By accessing the Platform and/or using the Services, you are deemed to have read and irrevocably agreed to these Terms, which Tovest may modify and/or supplement at any time without prior notice.
- Digital asset (as defined below) trading involves significant risks and may not be suitable for some investors. The value of digital assets can fluctuate significantly on any given day and may be affected by external factors such as financial or political events. Price volatility and unpredictability can lead to significant losses, including the potential loss of all investment in a short period. You are responsible for considering whether it is suitable for you to buy, sell, or hold digital assets based on your financial situation.
- Digital asset activities conducted in certain jurisdictions may be unregulated or subject to limited regulation. Any regulatory changes or actions by any authority unrelated to Tovest may adversely affect the use, transfer, exchange, and value of digital assets. The government of the User's country may deem the User's trading of digital assets illegal.
- Please read our risk disclosure for more information about the risks associated with accessing the Platform and/or using the Services. However, please note that this document does not explain all possible risks or how these risks relate to your specific circumstances. You should fully understand the risks involved before accessing the Platform and/or using the Services.
- Tovest has no fiduciary relationship or obligation to you in connection with any transactions (as defined below) or other activities you conduct when using the Services. We are not your broker, intermediary, agent, or advisor, and we do not provide any form of financial, investment, or advisory advice. Any communication or information we provide to you is not and should not be considered any form of advice.
- You acknowledge that you use the Services at your own risk and that you are solely responsible for independently reviewing and evaluating whether the Services are suitable for you based on your specific investment objectives, financial situation, risk tolerance, investment experience, knowledge, and needs. You are solely responsible for any losses or liabilities. We do not recommend buying, earning, selling, or holding any digital assets. Before buying, selling, or holding any digital assets, please conduct your own due diligence and, if necessary, consult your financial, tax, and other advisors. Tovest takes reasonable steps to ensure the accuracy of the information on the website. We are not responsible for any losses you incur in buying, selling, or holding digital assets, including but not limited to any losses directly or indirectly caused by using or relying on such information provided by us.
In these Terms, unless the context otherwise requires, the following words and expressions shall have the following meanings:
- "Account" means any account or sub-account maintained by Tovest for you.
- "Account Credentials" means your account information, username, password, personal identification number, APIKey, API key, or any other code or form of authentication you use to access your account/Services or send instructions.
- "Account History" means a written record of your transactions and your account, including electronic records.
- "Affiliate" means an individual, entity, or company that directly or indirectly controls, is controlled by, or is under common direct or indirect control with another individual, entity, or company.
- "Airdrop" means the distribution or attempted distribution of any digital assets by a digital asset network to digital asset addresses that support the network.
- "API" refers to the application programming interface provided by Tovest, its Affiliates, or third-party applications that rely on the API.
- "Applicable Law" means all relevant or applicable statutes, laws, equity principles, rules, regulations, regulatory principles and requirements, notices, orders, writs, injunctions, judgments, bylaws, awards, directives, announcements, notifications, mandatory codes of conduct, guidelines, practice notes, and any other interpretations issued by any government or regulatory authority applicable to the provision, receipt, or use of the Services, or any other products or deliverables related to the Services, these Terms, or other applicable terms and conditions.
- "Authorized Person" means any person identified by you and notified to us, authorized to act on behalf of the User for any corporate account.
- "Available Digital Assets" means digital assets provided on the Platform in connection with the Services, which may change from time to time.
- "Tovest Intellectual Property" means all intellectual property owned by or licensed to Tovest.
- "Corporate Account" means an account maintained by Tovest for a company, entity, or other organization to provide services.
- "Digital Asset" means a digital representation of value or rights based on distributed ledger technology or similar technology, capable of being transferred and stored electronically, including but not limited to cryptocurrencies, stablecoins, non-fungible tokens (NFTs), and other tokenized derivatives of digital assets. Digital assets do not include fiat currency (as defined below).
- "Dominant Digital Asset" means a forked digital asset determined by Tovest, at its sole discretion, to be dominant relative to one or more other versions of the digital asset derived from the relevant fork.
- "Fiat Currency" means any national or supranational currency issued by any government or central bank that is not a digital asset, or other monetary obligations denominated in such currency.
- "Fork" means any planned, unplanned, sudden, scheduled, anticipated, unexpected, public, unknown, mutually agreed, and/or controversial changes to the underlying operating rules of certain digital assets that occur from time to time, creating one or more versions related to existing digital assets.
- "Improper Intent" means Tovest's reasonable judgment that there may be suspected or actual market manipulation and/or market abuse, including but not limited to profiting from the difference between the executable price and the current market price through trading or improperly profiting by utilizing Tovest's pricing methods.
- "Instruction" means any instruction, request, or order issued by you or an Authorized Person to Tovest through such medium, form, and manner as Tovest may require, relating to the operation of your account or the execution of any transaction.
- "Intellectual Property" means: (i) registered and unregistered copyrights, patents, database rights, and trademarks, designs, know-how, and confidential information rights; (ii) applications for registration of any of the foregoing rights and the right to apply for registration; (iii) all other intellectual property rights and equivalent or similar forms of protection existing anywhere in the world.
- "Obvious Error" means any obvious or discernible error, omission, or misrepresentation (whether such error originates from Tovest or a third party), including any misrepresentation by any Tovest representative when considering current market conditions and currently published quotes, or any error regarding information, sources, official results, or published content.
- "Network Event" related to digital assets means any event (excluding Airdrops or Forks) on the blockchain or smart contract where the digital asset resides, which is beyond our control and results in (a) Tovest or a third party losing control or ownership of the virtual asset; or (b) transaction records on the blockchain being tampered with, reversed, or otherwise invalidated, whether through fraudulent activity or changes in consensus mechanisms, including but not limited to any double-spend attacks, 51% attacks, or blockchain reorganizations, as determined by Tovest in good faith at its sole discretion.
- "Platform" means the digital platform that Tovest or its Affiliates may provide to you through websites, mobile applications, APIs, or other means as Tovest or its Affiliates may specify from time to time.
- "Product Terms" means the specific product terms and conditions applicable to the use of the Services.
- "Prohibited Countries/Regions" refers to the following countries and other regions designated by Tovest from time to time, including Austria, Canada, Crimea, Donetsk, Luhansk, Cuba, France, Germany, Hong Kong, Iran, North Korea, Singapore, Sudan, United States (including the following US territories: Puerto Rico, Guam, US Virgin Islands, American Samoa, and Northern Mariana Islands, and the following US minor outlying islands: Baker Island, Howland Island, Jarvis Island, Johnston Atoll, Kingman Reef, Midway Atoll, Navassa Island, Palmyra Atoll, and Wake Island), Iraq, Libya, Yemen, Afghanistan, Central African Republic, Democratic Republic of Congo, Guinea-Bissau, Haiti, Lebanon, Somalia, and South Sudan.
- We understand that corporate entities may be associated with the United States in various ways. We have established a methodology and process for determining whether a corporate entity is a US User (as defined under applicable US legal frameworks) to restrict its access to the Platform. The Tovest Compliance Team may contact relevant entities to obtain more information to help Tovest make a comprehensive assessment of whether the entity is a US User and whether it can legally trade on the Platform.
- "Restricted Person" means an individual or entity listed on any trade embargo or economic sanctions list, terrorist or corrupt foreign official list (e.g., UN Security Council sanctions list, lists published by government agencies, including the Specially Designated Nationals List maintained by the US Department of the Treasury's Office of Foreign Assets Control (OFAC), the US Department of Commerce's Denied Persons List or Entity List, or lists published by the UK, EU, Canada), or an individual or entity whose place of residence, registration, or operation is located in any Restricted Country.
- "Risk Disclosure" means the risk disclosure statement published by Tovest on its official website.
- "Services" means the services provided by Tovest to you through the Platform.
- "Transaction" means the sale, purchase, or agreement to sell, purchase, or enter into any transaction, reward, and commission transfer involving digital assets, derivatives, other assets, or products permitted on the Tovest Platform from time to time, and other types of transactions involving the transfer of digital assets into or out of your account.
- "User Intellectual Property" means intellectual property owned by or licensed to you as of the effective date of these Terms, and any other intellectual property owned, acquired, or licensed to you after the effective date of these Terms, excluding Tovest Intellectual Property.
- "User-Generated Intellectual Property" means any intellectual property created by you under these Terms, including User Materials, but excluding User Intellectual Property.
- "User Materials" means intellectual property in any comments, posts, information, data, and opinions provided by you or other Users to Tovest on this website or Platform through the use of the Services or otherwise.
- "Website" means www.Tovest.com and any other websites, web pages, features, or content owned or operated by Tovest.
Before using the Services, you must register on the Platform. To be eligible to register an account and use the Services, you must:
- 2.1 be an individual, company, or other organization with full power and capacity to access and use the Services and to enter into and comply with the obligations of these Terms;
- 2.2 for individual Users, be at least 18 years old;
- 2.3 if acting as an employee or agent of a legal entity and signing these Terms on its behalf, be duly authorized to represent it and bind the entity to these Terms;
- 2.4 not have been suspended or disqualified from using the Services;
- 2.5 not currently have an existing account;
- 2.6 not access the Services in a jurisdiction where the use of the Services is not permitted or is restricted, or where the use of the Services constitutes an illegal act;
- 2.7 not be prohibited, restricted, unauthorized, or ineligible to use the Services (in whole or in part) in any form or by any means due to these Terms, legal, or regulatory requirements; or
- 2.8 not be a Restricted Person.
- 3.1 Once you open an account with Tovest, you can use the Services in accordance with these Terms and applicable Product Terms. You acknowledge and agree that some Services may be provided by Tovest's Affiliates.
- 3.2 The Platform provides you with the following services (the scope of services may be updated from time to time):
- (i) relevant information on digital asset project disclosures, including real-time quotes and trading information;
- (ii) digital asset trading services;
- (iii) customer support;
- (iv) technical and management services to ensure the normal operation of the Platform; and
- (v) other services publicly announced by the Platform.
- 3.3 Fiat Services
- (i) For the avoidance of doubt, Tovest does not provide or conduct any foreign exchange services for fiat-to-fiat currency exchange.
- (ii) Tovest does not provide fiat services for fiat currency to cryptocurrency exchange and/or cryptocurrency to fiat currency exchange, but you can use similar services on Tovest. All fiat services provided (whether on Tovest or redirected to third-party websites) are provided by third-party providers ("Fiat Service Providers").
- (iii) If you wish to use fiat services, you must agree to any terms and conditions, rules, or policies issued by our Fiat Service Providers and provide any information that may be required to use such services. In this regard, all fiat services shall be subject to the terms and conditions of our Fiat Service Providers.
- 4.1 You agree to pay all applicable fees related to your use of the Services, as specified in the fee schedule below or otherwise notified to you in any applicable Product Terms.
- 4.2 Any calculation of service-related fees by us shall be final and binding on you. We will make calculations in good faith and at our discretion based on the established methods for the relevant services.
- 4.3 You authorize the Company to deduct from your account all applicable fees, commissions, interest, charges, and other amounts owed by you under these Terms or any Product Terms, calculated as set forth in the fee schedule. If you owe us certain digital assets but the balance of such digital assets is insufficient, we may deduct the owed amount from your other digital assets as repayment. (In such cases, we will convert the digital assets you hold into the digital assets you owe at the current exchange rate provided on the Platform or other exchange rates we deem commercially reasonable from time to time). If you do not have sufficient digital assets in your account, you acknowledge that any amount due under these Terms shall be considered an immediately due debt, and the amount and form (whether digital assets or otherwise) shall be determined by us in a commercially reasonable manner.
- 4.4 We may adjust fees or fee schedules, including adding new fee categories and/or charges. If you do not accept such adjustments, you may cancel your account. Your continued access to or use of the Services shall be deemed acceptance of the updated fees.
- 4.5 You are responsible for determining whether any taxes (if any) apply to payments you make or receive and for remitting, reporting, and paying the correct taxes to the relevant tax authorities. You agree that Tovest is not responsible for determining whether you owe taxes when using the Services, nor is it responsible for calculating, reporting, or paying taxes arising from any transaction or use of the Services. You acknowledge that we may report certain transactions on the Platform to tax authorities, and we may, at our sole discretion or as required by applicable law, provide you with additional documents or records necessary to calculate any tax obligations. We may also, at our sole discretion, withhold and deduct any taxes required by applicable law at the source.
Opening an Account
- 5.1 To access the Platform and use the Services, you must register an account. You can register an account for individual users or a corporate account for a company, entity, or other organization. All accounts are provided solely by us. Tovest reserves the right to refuse any account application without reason.
- 5.2 Individual users may only use the account for themselves and may not use your account on behalf of any third party. If you are a corporate user, Authorized Persons may only use the account for your benefit and not on behalf of any third party. You may not provide direct market access to the Platform to any other party, including through the use of sub-accounts, unless such other party has completed identity verification that we deem appropriate and has separately logged into the Platform. Any other verified party shall be considered an Authorized Person. You agree to assume full responsibility for all activities in your account and bear all risks and losses that may arise therefrom.
- 5.3 Before opening an account with Tovest, you need to comply with our identity verification procedures. We may also require you to provide us with certain information about yourself and, where applicable, all Authorized Persons, to enable you to access and use the Services. For the avoidance of doubt, individual users are only allowed to have one account. You agree that:
- (i) All information you provide must be complete, accurate, and truthful. You must update the information promptly if it changes.
- (ii) You authorize us to conduct investigations we deem necessary to verify your and/or the Authorized Person's identity, or to protect you and/or us from fraud, money laundering, terrorist financing, or other financial crimes, and to take any action we deem necessary based on the investigation results.
- (iii) When we inquire about information, you acknowledge and understand that your and any Authorized Person's personal data may be disclosed to institutions for identity verification, compliance data recording, credit referencing, fraud prevention, or financial crime prevention, and these institutions may respond fully to our inquiries.
- (iv) We may also require you to comply with our enhanced due diligence procedures, submit more information about you, your business, or your Authorized Persons, provide more records or documents, or conduct interviews with our representatives.
- (v) We retain your personal data to enable you to continue using our Services, for the duration required by the Privacy Policy or applicable law, or to comply with anti-money laundering laws, or for such other duration as you are otherwise notified.
- (vi) You can review our Privacy Policy to further understand how we process your personal data.
Account Maintenance
- 5.4 For the purpose of complying with any applicable law or identity verification requirements, or for the purpose of detecting money laundering, terrorist financing, fraud, or any other financial crime, or for any other legitimate reason, we may request information from you at any time. You agree to provide the relevant information at our request and allow us to retain all transaction information records for the duration of your account, or for such other period as required by applicable law, to fulfill the intended purpose or legal requirements.
- 5.5 Based on the information collected about you, your access to the account and transaction limits applicable to your use of the Services may change continuously. If there is reason to suspect that any information you provide is incorrect, untrue, outdated, or incomplete, we may send you a notice requesting you to correct, delete the relevant information, or take other measures we deem necessary to ensure the authenticity and correctness of the provided information.
- 5.6 You must comply with any information requests we send to you. If you refuse to provide the requested information, or fail to provide it in a timely manner, we reserve the right to immediately suspend or terminate your access to the account or all or part of the Services without prior notice.
- 5.7 You must ensure that any account registered in your name is not used by anyone other than yourself; if you are a corporate user, you are the Authorized Person.
Account Information and Transaction Records
- 5.8 You can view your account history in your account. All records related to the account or Services are for reference only. Notwithstanding any provision to the contrary in these Terms, if the information displayed on or provided through the Platform is inconsistent with the information in our records, our records shall prevail, unless there is an obvious error.
- 5.9 You are responsible for checking your account history for errors. If any error or unauthorized entry or transaction occurs, you must report it to us within five calendar days from the date the account history was provided to you.
- 5.10 We may correct any errors in your account history at any time and reserve the right to void, cancel, or reverse any transactions that occurred due to or resulted from an error, to adjust relevant transactions to correct the error, and to retain the right to act as deemed reasonable.
- 5.11 In accordance with these Terms or applicable law, we may need to share information about your account and account history with third parties and/or our Affiliates. You acknowledge and agree that we have the right to disclose such information.
Account Security
- 5.12 You are responsible for taking appropriate measures to protect your hardware and data from viruses, malware, and any inappropriate materials. Unless otherwise required by applicable law, you are responsible for backing up and maintaining copies of any information you store or transmit through our Services. We are not responsible for any claims or losses resulting from your failure to comply with these Terms.
- 5.13 You and any Authorized Person shall at all times adequately maintain the security of all Account Credentials and ensure sufficient control. You and the Authorized Person are responsible for taking necessary security measures to protect your account and the security of Account Credentials. You must keep Account Credentials secure and defend against any attacks and unauthorized access. If you have become aware or have reason to suspect that the security of your account or email related to your account, or the Authorized Person's account or email, has been compromised, or that your or any Authorized Person's account or email account has been subjected to any unauthorized use, you must immediately notify us.
- 5.14 You must closely monitor your account history and notify us as soon as possible if any unauthorized or suspicious activity occurs in your account.
- 5.15 If you suspect a security breach, you must notify us immediately and continue to provide us with accurate and up-to-date information throughout the duration of the security breach. The Platform's disable account function or any other method we may specify from time to time can immediately lock your account. We may reasonably require measures to reduce, manage, or report any security breach, and you should cooperate. We have the right to request any and all information and documents that we deem relevant or necessary in connection with a confirmed or suspected security breach, and you have agreed to cooperate. You acknowledge and agree that we may provide such information to any third party we deem necessary to investigate or resolve the security breach.
Closing an Account
- 5.16 You may close your account at any time by following our account termination procedures as we may specify from time to time. You must pay any outstanding amounts. You authorize us to cancel or suspend any pending transactions and deduct any outstanding amounts you owe us from your account when closing the account.
- 5.17 The following circumstances may prevent you from closing your account:
- (i) You are attempting to evade an investigation by relevant authorities;
- (ii) You have pending transactions or pending claims;
- (iii) Your account has outstanding amounts;
- (iv) Your account has been frozen, suspended, restricted, or withheld; or
- (v) Other reasons as determined by us at our sole discretion.
- 6.1 You can transact directly with us or directly with other users, including transactions facilitated by us and non-facilitated transactions. We do not represent or warrant that all transactions will be successfully completed or completed within a specific timeframe.
- 6.2 You are responsible for controlling and using your account. You or an Authorized Person are deemed to be authorized to issue any instructions from your account. You are responsible for closely monitoring your account history and notifying us as soon as possible if any unauthorized or suspicious activity occurs in your account. We are not responsible for any claims or losses resulting from transactions executed due to unauthorized instructions (including errors, negligence, mistakes, or fraud), unless it can be proven that such unauthorized instructions were solely due to our technical issues.
- 6.3 To comply with data retention requirements, you agree to allow us (consent only, not mandatory) to retain all transaction information records for the duration of your account for the purpose of fulfilling the intended purpose or for such other period as required by applicable law. Please read our Privacy Policy to understand how we collect and use data related to our Platform and Services.
- 6.4 We may correct any errors in your account history at any time and reserve the right to void, cancel, or adjust any transactions related to or executed due to an obvious error, or to modify the specific content of such transactions to reflect what we reasonably believe to be the appropriate or correct content of such transactions.
- 6.5 You acknowledge and agree that if Tovest determines that any transaction involves improper intent (whether such intent originates from you or from others related to your transactions or digital assets), and/or in the event of an obvious error, Tovest has the right, in accordance with applicable law (and without incurring any fees, penalties, or liabilities to you), to take the following measures:
- (i) Cancel or void any transaction and adjust any digital asset amounts transferred into and/or out of your Tovest account due to such transaction, and treat such transaction as if it never occurred; or
- (ii) Modify the price of any transaction to reflect what we reasonably believe to be the appropriate or correct content of such transaction, or the market price at the relevant time as determined by us at our sole discretion.
In addition, we may adjust or deduct from your Tovest account any profits, rewards, or commissions related to such transaction that we reasonably deem abnormal, abusive, or unfair.
You acknowledge and agree that if any transaction you conduct with a third party is related to our rights specified herein or can be canceled/modified based on our rights specified herein, you shall be solely responsible for such transactions.
Transaction Limits
- 6.6 Your account may have limits on (i) transaction amounts or volumes or (ii) the amount or value of digital assets transferred into or out of the account.
- 6.7 We reserve the right to change any transaction limits applicable to your account at any time at our sole discretion. You may also apply to change limits. Any changes are at our sole discretion and are subject to other conditions we deem necessary.
- 7.1 You must ensure that any instructions submitted are complete and accurate. We are not required to verify the accuracy, authenticity, or validity of any instructions, nor to monitor or refuse to execute them due to repetition or apparent repetition. However, if we have doubts about the accuracy, authenticity, or validity of an instruction, we may refuse to execute or delay the execution of any instruction, or request more information from you.
- 7.2 Instructions are irrevocable. Once you or an Authorized Person submits an instruction, you may not revoke or withdraw it without our written consent. The communication of an instruction is deemed to occur when our server receives your instruction. Our records of all instructions shall be conclusive and binding on you for all purposes.
- 7.3 By submitting an instruction, you or an Authorized Person authorize us to initiate transactions in your account. Therefore, we are authorized to credit or debit (or provide settlement information to third parties for crediting or debiting) your digital assets in your account according to your instructions. You are responsible for ensuring sufficient digital asset balance in your account. If your account does not have sufficient digital assets for a transaction (i.e., less than the total amount required to settle the transaction and pay all related fees), we have the right to refuse to conduct any transaction. To the extent permitted by these Terms, Tovest may also refuse to execute instructions.
- 7.4 You acknowledge that instructions and information sent on the Platform or via email are generally transmitted over the internet and may be transmitted through unprotected public, transnational facilities. We cannot guarantee that transmitted instructions and information are completely free from unauthorized access, and you must accept the associated risks.
- 7.5 Subject to these Terms and any applicable Product Terms, and provided your account has sufficient balance and relevant digital assets are not locked due to any Services, you may submit a withdrawal request on the Platform to instruct Tovest to transfer relevant digital assets to an external wallet address. Upon receipt of a withdrawal request, we will (i) deduct the corresponding amount from your account balance; (ii) initiate an on-chain transfer to your designated external wallet. If we believe that applicable law restricts the execution of the relevant withdrawal request, the withdrawal application may not be processed. We may also suspend withdrawal services when we deem appropriate to address any events on the Platform. We will resume withdrawal functionality after the relevant event is resolved.
- 8.1 Tovest may modify, suspend, or terminate any part or function of the Services at any time without prior notice to you or your consent, and without providing a reason.
Specifically, Tovest may (i) refuse to complete or prohibit, cancel, or, where permitted by applicable law, reverse any transaction you have authorized; (ii) terminate, suspend, or restrict your access to all or part of the Services; (iii) terminate, suspend, close, freeze, or restrict your access to all or part of your account; (iv) refuse to transmit information or instructions to third parties (including but not limited to third-party wallet operators); and/or (v) take any action we deem necessary for any reason and effective immediately in any circumstances, including but not limited to the following situations:
- (i) You are not or no longer eligible to use one or more Services;
- (ii) We have reason to suspect that (a) someone other than you has logged into your account, or your account has been or will be used for illegal, fraudulent, or unauthorized purposes; (b) someone other than an Authorized Person has logged into your corporate account, or such corporate account has been or will be used for illegal, fraudulent, or unauthorized purposes; (c) more than one natural person has accessed the same account and/or conducted transactions, or your account has been or will be used for illegal, fraudulent, or unauthorized purposes; or (d) the information you provided is incorrect, untrue, outdated, or incomplete.
- (iii) We have reasonable concerns about your creditworthiness or financial situation, including:
- If you are an individual user, you are bankrupt, mentally incapacitated, have taken bankruptcy actions, or bankruptcy proceedings have been initiated against you;
- If you are acting on behalf of a partnership, any partner has died, become bankrupt or mentally incapacitated, taken bankruptcy actions, bankruptcy proceedings have been initiated against a partner, or someone has sued for the dissolution and/or amendment of the partnership or partnership agreement;
- If you are acting on behalf of a company, the company is unable to pay its debts as they fall due, or the company has commenced bankruptcy, judicial administration, receivership, administration, or any similar proceedings; or
- You convene a meeting of creditors, or proposing or making any compromise or arrangement with creditors, or making any assignment for the benefit of creditors;
- (iv) In accordance with Article 5, additional submission of such information and documents is required;
- (v) In accordance with Article 5.3(iv), enhanced due diligence reports are required;
- (vi) We reasonably believe that applicable law or the competent court or authority in any jurisdiction where we are located requires us to take action;
- (vii) We determine or suspect that:
- You have violated these Terms or any Product Terms;
- You have violated any express or implied warranties in these Terms, or violated representations you have made;
- There are unauthorized, erroneous, fraudulent, or illegal transactions, or we have determined or suspect that your account or the Services are being used in a fraudulent, unauthorized, or illegal manner;
- Any money laundering, terrorist financing, fraud, or any other crime has occurred in connection with your account or your use of the Services;
- (viii) Your use of the account is subject to any pending, ongoing, or initiated litigation, investigation, or judicial, governmental, or regulatory proceedings, and/or we believe there is an increased risk of non-compliance with laws or regulations related to your account activity;
- (ix) Your outstanding payments to Tovest have not been settled, whether due to chargebacks or any other reason;
- (x) Any communication sent to your email account is returned as undeliverable;
- (xi) There are issues with your identity verification;
- (xii) You have taken actions that may circumvent our controls, such as opening multiple accounts without our written consent, or abusing activities we may hold from time to time;
- (xiii) In case of an obvious error;
- (xiv) There are any potential or actual legal and/or regulatory restrictions, concerns, requirements, or related compliance requirements; or
- (xv) There are any other reasonable reasons that make it necessary for us to take the above measures.
In addition to any other rights provided in these Terms, Tovest may suspend, terminate, and/or replace accounts at any time without notice to you if we deem it necessary or appropriate to comply with applicable law.
- 8.2 You acknowledge and agree that:
- (i) The examples of actions we may take to terminate, suspend, close, or restrict your access to your account and/or Services listed in Article 8.1 above are for reference only and are not an exhaustive list; and
- (ii) We may decide to take certain actions based on confidentiality standards that are crucial for risk management and security protocols, including but not limited to terminating, suspending, closing, or restricting your access to your account and/or Services. We are not obligated to disclose the details of our risk management and security protocols to you.
- 8.3 If we terminate, suspend, freeze, or restrict your access to one or more Services:
- (i) Depending on the circumstances, if you have outstanding instructions, orders, positions, or transactions, they may be closed by you or by us;
- (ii) Any chargebacks arising from the use of your account or Services may result in the immediate suspension and/or restriction of your account and Services;
- (iii) To reactivate a suspended and/or restricted account or Service, you will need to fully repay us any outstanding amounts, including any amounts owed and applicable fees (if any); and
- (iv) In the event of a chargeback, you are responsible for any incoming amounts, and you authorize and allow us to directly deduct costs and fees from any assets in your account without further notice.
- 8.4 Unlawful Possession. If we become aware and have reasonable belief that any digital assets held in your account are stolen or unlawfully held (whether due to obvious error or otherwise), we have the right (but not the obligation) to seize the relevant funds and your account. If we seize all or part of the digital assets in your account, or impose restrictions on your account, such measures will remain in effect until you provide evidence satisfactory to us that you have a legitimate interest in the relevant digital assets. We will not intervene in any dispute or resolution of disputes related to any digital assets held in your account.
- 8.5 Access in Other Jurisdictions. Residents of certain countries/regions may only access some, but not all, Services. The scope of Services available to you may change from time to time. If you travel to a Prohibited Country/Region, the Services may be unavailable, and you may be restricted from accessing the Services. You acknowledge that this may affect your ability to conduct transactions on the Platform and/or monitor any existing orders or open positions, or otherwise use the Services. You may not attempt to circumvent any such restrictions in any way, including by using any virtual private network (VPN) to modify your internet protocol address.
- 9.1 Tovest only provides services for Available Digital Assets. We may delist or suspend one or more Available Digital Assets. We will make reasonable commercial efforts to notify you in advance. Once delisted or suspended, you will not be able to access the relevant digital assets through the Services and can only withdraw the relevant digital assets from your account. After a specific notice period, if you still have unavailable digital assets in your account, Tovest may, at its reasonable discretion, convert such digital assets into other types of stablecoin digital assets. Tovest will notify you in advance before converting the assets, and you can withdraw such digital assets within the specified time before conversion.
We are not responsible if you attempt to use your account for digital assets we do not support, or do not convert the relevant assets to other digital asset types as described in this article. If you send unsupported digital assets to your account, or to an incompatible digital asset address, we may not be able to recover these assets, and you may lose all value of such assets.