This document sets out (1) the Acceptable Use Policy that governs how the Monbits products — Monbits Exchange, Monbits Pay and Monbits Card — may be used, and (2) a Risk Disclosure covering the risks of dealing in crypto assets. It should be read alongside our Terms of Service and Privacy Policy.
Acceptable Use Policy
By using our products and services, you agree not to use them for any unlawful, harmful or abusive purpose. In particular, you must not:
- Engage in money laundering, terrorist financing, fraud or any other financial crime.
- Circumvent or attempt to circumvent AML screening, KYC or sanctions controls.
- Use the services in or for the benefit of sanctioned countries, entities or individuals.
- Transact with funds you know or suspect to be derived from illegal activity.
- Attempt to gain unauthorised access to our systems, data or other users' accounts.
- Interfere with, disrupt or place undue load on our infrastructure, including via automated abuse.
- Infringe the intellectual property or other rights of Monbits or any third party.
- Misrepresent your identity or provide false information during onboarding.
Compliance and monitoring
AML screening is built into Monbits Pay, and incoming transactions may be screened before they settle. We may monitor activity, request additional information, and hold, freeze or reverse transactions where required to meet legal and regulatory obligations or where we suspect a breach of this policy.
Enforcement
We may suspend or terminate access to the services, with or without notice, where we reasonably believe this policy has been breached or where required by law. Where appropriate, we may report activity to the relevant authorities.
Risk Disclosure
Crypto assets are high-risk and may not be suitable for everyone. You should not transact with more than you can afford to lose. By using our services you acknowledge the following risks:
- Volatility — the value of crypto assets can fluctuate significantly and rapidly, and may fall as well as rise.
- Irreversibility — blockchain transactions are generally final and cannot be reversed once confirmed.
- Regulatory change — laws affecting crypto assets vary by jurisdiction and may change, affecting availability or value.
- Technology risk — blockchains and third-party networks may experience downtime, forks, congestion or security incidents outside our control.
- No investment advice — nothing we provide constitutes financial, legal or tax advice. You are responsible for your own decisions.
Non-custodial design
Monbits is non-custodial by design — you remain responsible for the security of your own funds and credentials. Loss of access credentials may result in permanent loss of access to assets.
Changes
We may update this document from time to time. Material changes will be reflected by the "last updated" date above.
Contact
Questions about acceptable use or risk? Email us at support@monbits.com.