Coin Accepted Statute of Making Payments

This version of the Statute of Making Payments is effective as of 08.07.2025.

§ 1 

General conditions

1. These Terms and Conditions set out the rules for the processing of payments within the Payment Gateway for the benefit of Partner Customers using the Coin Accepted Services provided electronically by the Platform Operator.  

2. For the purposes of these Statute of Making Payments, the following definitions shall apply:

1. Statute - this Coin Accepted Statute of Making Payments; 

2. Payment Processing (also as "Payment Processing Service") - consists in the acceptance and handling by the Platform Operator of payments made by the Partner's Customer to the Partner, for goods or services offered by the Partner, which payments will be made using Digital Assets via the Coin Accepted Services provided electronically; 

3. Platform - the entirety of the digital services and functionalities offered by the Platform Operator, including the Coin Accepted Services in the form of a website;

4. Website - for the purposes of this Statute, the website provided by Platform Operator under which it is possible to use the Coin Accepted Services; 

5. Digital Asset - a digital representation of a given value or a given right, processed and stored in a virtual database whose integrity and correctness is secured through cryptographic methods. Within Digital Assets we can distinguish, among others: cryptocurrencies, tokens, contracts;

6. FIAT Currency - currencies recognised as official means of payment, issued by central banks or public authorities (e.g. USD); 

7. Platform Operator/Operator (also as “Coin Accepted”) - BB Trade Bahamas Ltd, 201 Church Street, Box N-3406 Nassau, Bahamas, entered in the Register of Entrepreneurs under No. 213148B;

8. Customer (also as "Partner's Customer") - a person (including both natural and legal persons) for whose benefit a Payment Processing takes place, who accepted the provisions of this Statute and effectively concluded an agreement with a Partner for the provision of its services or sale of goods (hereinafter referred to as the "Customer's Agreement with a Partner");

9. Partner (also as "Merchant") - an entity, which registered on the Website, for whose benefit the funds are transferred within the scope of provision of Payment Processing Services, in connection with the Customer's Agreement with a Partner;

10. Payment Gateway - a type of Software, which enables the Customer to make online payments to the Partner using Digital Assets;

11. Partner Balance - electronic information assigned to the Partner's Account, which will indicate an electronic record of the values collected and credited within the Partner's Account, in connection with the processing of payments to the Customer;

12. Cryptographic Verification of Transactions / using cryptographic tools - the process of obtaining the appropriate number of confirmations of transactions from the blockchain network for a given Digital Asset; depending on the type of Digital Asset, the number of required confirmations may vary; their required current number is available on the Platform Operator’s Website;

13. Blockchain network - a decentralised database that records and stores information on transactions, performed with the use of Digital Assets; 

14. Blockchain network load - the number of transactions awaiting confirmation on the blockchain network; the load on the blockchain network at the time of a transaction may determine the time it takes to complete the transaction; the load on the blockchain network is independent of the Platform Operator; 

15. Blockchain network fee - the amount paid by the sender-Partner's Customer to finalise a transaction on the blockchain network; this is the fee paid to the miners or validators of the network (entities independent of the Platform Operator) who confirm and accept transactions before adding them to the blockchain database.

3. The Service may not be used to process payments other than the amount due under the aforementioned Agreement between the Customer and the Partner.

4. The Customer wishing to use the Payment Processing Service via the Coin Accepted  gateway is obliged to comply with the provisions of this Statute and generally applicable laws.

5. The Partner shall be solely responsible for the process of verifying the accuracy of the Customer's data indicated when using the Payment Processing Services, including compliance with the requirements of the KYC procedure applied by the Platform Operator.

 

§ 2 

Payment terms

1. The Platform Operator, providing the Payment Processing Service, accepts the funds received from the Partner's Customer in the form of Digital Assets and finally allocates them to the Partner's Balance. The crediting of these funds to the Partner's Balance means the payment for the goods or services purchased from the Partner within the scope of the Customer's Agreement with the Partner.

2. The Platform Operator shall provide the Payment Processing Service within the Payment Gateway in particular by:

1. indicating the Digital Assets together with its conversion value in the Payment Gateway, from among which the Customer may select one with which he/she plans to make a transaction; 

2. generating the payment details by which the Customer will order such payment to the Partner;

3. accepting the payment ordered by the Customer on the Digital Asset selected by the Customer for processing and final allocation to the Partner's Balance.

3. Within the framework of the Payment Gateway Service, the Customer shall be able to perform the following actions: 

1. selecting in the Payment Gateway the respective Digital Asset from the displayed possible ones, in which he/she wants to make a payment to the Partner; and

2. ordering a payment to the Partner on the basis of the payment data generated in the Payment Gateway, using external tools enabling the Customer to make such a payment.

4. The number and type of Digital Assets displayed in the Payment Gateway in which the Customer can make the payments referred to in point 2(a) and 3(a) above shall be determined each time by the Partner itself within the framework of the Partner's generation of the Payment Gateway for the respective transaction. The Platform Operator is not responsible for the above Payment Gateway settings selected by the Partner. 

5. In order to make a correct payment in Digital Assets on the Payment Gateway, the Customer under the Payment Gateway Service is required to fulfill the information obligations indicated in § 2a below. For this purpose, he/she may be required to complete the Form for information regarding the parties to crypto-assets transfer, under pain of refusal to carry out such transfer in favor of the Customer, of which the Customer will then be informed accordingly. 

6. Due to the specific nature of the Payment Processing Service provided and the technical conditions of the blockchain network, which are completely beyond the control of the Platform Operator, it is not possible to revoke an ordered payment once it has been approved by the Partner Customer and confirmed for processing in the Payment Gateway, with the exception of situations in which the Platform Operator allows the payment to be returned, as indicated in points 14 - 18 of this paragraph. 

7. In the event that the Customer makes a payment instruction that may be deemed incorrect according to the criteria set out in the Coin Accepted Terms and Conditions for the Recovery of Digital Assets, the Customer may avail itself of the recovery of digital assets on the grounds and under the circumstances set out in this above mentioned Terms and Conditions.

8. The Platform Operator, providing Payment Processing Services, does not support transactions carried out by the Customer under anonymous protocols, i.e. by means of tools and channels which make impossible for the Platform Operator to correctly identify and verify the parties to the transaction. In the event that the Customer orders the aforementioned payments using anonymous protocols, the possibility of a complete refusal of such payments is reserved. Furthermore, in the event that the Customer makes a payment using the aforementioned anonymous protocols, it is completely impossible to claim a refund of such payment (including in accordance with § 2 points 14 - 18 below) due to the Platform Operator's inability to identify and verify the parties involved in the transaction.

9. The amount displayed in the Payment Gateway represents the amount payable by the Customer to the Partner under the agreement concluded with the Partner (Customer-Partner Agreement). In the event that the obligation to cover the commission for the transaction rests with the Customer of the Partner, the aforementioned amount displayed in the Payment Gateway will include the value of the fees and commissions due for the transaction to the Operator of the Platform.

10. It is the responsibility of the Partner to inform the Partner's Customer of the amount of the fees and commissions agreed with the Platform Operator for a particular transaction carried out under the Customer's Agreement with the Partner.

11. The Platform Operator stipulates that the value indicated in point 9 does not take into account any additional fees for the blockchain network that the Customer may be required to cover in order to properly complete the payment. 

12. It is stipulated that the Platform Operator will provide the Payment Processing Service within the Payment Gateway to the Customers using the Digital Asset networks supported by the Platform Operator, assigned for the respective types of Assets.

13. The time taken to credit the funds to the Partner's Balance depends on the load on the blockchain network, the amount of the assigned fee for the blockchain network selected by the Customer and the number of confirmations required to credit the Transaction Cryptographic Verification for the respective Digital Asset. 

14. Reimbursement to the Customer of funds paid is only possible in the following cases:

1. overpayment,

2. underpayment, 

3. payment after expiry of the gateway,

4. failure to comply with AML requirements. 

15. The Customer may claim from the Partner or the Platform Operator a refund of the funds paid by such Customer, in the cases referred to in point 14 above, to the external address indicated by the Customer, save that the relevant fees and commissions due in the event of the provision of such services by the Platform Operator shall be charged on such transactions. Where the refund is made by the Platform Operator, the Platform Operator may make the refund subject to positive verification of the external address indicated by the Customer.

16. In the situation if the return indicated in point 14 above is not possible due to lack of sufficient funds to cover the fees and commissions associated with the refund, as indicated in paragraph 15 above (the situation in which the value of fees and commissions referred to above exceeds the amount to be refunded), such transaction cannot be returned by the Platform Operator for lack of sufficient funds to cover the cost of the refunded transaction, to which provision the Customer - by accepting the terms of these Statute - agrees. 

17. In addition, the rules applicable when the Customer requests the Platform Operator to undertake the Digital Asset Recovery Process, due to an incorrect payment made by the Customer to the Partner, are provided for in the Coin Accepted Terms and Conditions for the Recovery of Digital Assets.

18. The fee for the return of funds is 0.5% of the value of the amount returned. In addition, an additional withdrawal fee ("Withdrawal from Partner's account / Fee to blockchain network") will be charged in accordance with the information indicated on Coin Accepted Website. The funds will be refunded within 14 working days of acceptance of the request, to the address of the Wallet provided by the Customer.

19. It is prohibited to interfere in any way with the IT systems of the Operator's Platform and to use it by an unauthorized person or with respect to whom the Platform Operator has a reasonable suspicion of such unauthorized use. Breach of such prohibition may lead to the blocking or complete discontinuation of the Payment Processing Service and, in addition, if there are circumstances justifying such action, to the notification of such breach to the relevant authorities. 

20. The use of the Coin Accepted Payment Processing Service by the Partner’s Customer is not linked to the opening of a bank account and any operations carried out therein do not constitute banking operations within the meaning of the Banking Law.

21. It is prohibited to use the Operator's Platform to process payments for the sale of goods or provision of services that are in breach of the law, in particular those infringing the property rights of third parties, as well as those not permitted for trade in the territory of a given country/area, as well as to use it to process payments for access to unauthorised content. In the event that the Partner's Customer uses the Payment Processing Services for the sale of goods or provision of services indicated in the preceding sentence, the Customer shall be obliged to withhold such payment instructions and notify the Platform Operator of such circumstances. 

22. It is permissible to change the entity providing the Service to another entity affiliated with the Platform Operator in order to ensure the continued provision of the Service in a manner consistent with the Statute. The change of the entity providing the Service shall take place in a manner consistent with the provisions of the law. The terms and conditions of the provision of the Service - in connection with the change of this entity - may not be changed to be less favourable for the Customer. In the case referred to in this paragraph, the existing Service provider shall cease to be a party to the Agreement and shall cease to provide the Service.

 

§2a 

1. The Platform Operator is obliged in its activity to comply with the provisions related to information accompanying transfers of funds, including the provisions of Financial Transaction Reporting Wire Transfer Regulations 2018, which apply to Platform Operator according to Section 4.2 of the Dare Act 2022. Due to it, Platform Operator is obligated to implement the provisions of the above regulations, including - if applicable, based on regulations or circumstances justifying the collection of such data for the proper execution of the transfer - those related to the collection of identification data from Customers to identify the payer and payee of each cryptoasset transfer.

2. According to the wording of the aforementioned legislation and given the nature of the Platform Operator's business activity - “payer” (“originator”) means a person that holds a crypto-asset account with a crypto-asset service provider, a distributed ledger address or a device allowing the storage of crypto-assets, and allows a transfer of crypto-assets from that account, distributed ledger address, or device, or, where there is no such account, distributed ledger address, or device, a person that orders or initiates a transfer of crypto-assets; “payee” (“beneficiary) means a person that is the intended recipient of the transfer of crypto-assets.

3. To the extent described in point 1 above, as part of the implementation of the relevant cryptoasset transfers - where applicable - the party to the transfer shall complete the relevant identification forms (hereinafter: the Form), within which it will be required to indicate data: 

1. Payer (Originator) (with respect to transfers of crypto-assets whose beneficiary is the Customer), including:

• the name of the payer;

• the payer’s distributed ledger address, in cases where a transfer of crypto-assets is registered on a network using DLT or similar technology, and the crypto-asset account number of the payer, where such an account exists and is used to process the transaction;

• the payer’s crypto-asset account number, in cases where a transfer of crypto-assets is not registered on a network using DLT or similar technology;

• the payer’s address, including the name of the country, official personal document number and customer identification number, or, alternatively, the payer’s date and place of birth; and

• subject to the existence of the necessary field in the relevant message format, and where provided by the payer to its crypto-asset service provider, the current LEI or, in its absence, any other available equivalent official identifier of the payer.

2. Payee (Beneficiary) (with respect to transfers of crypto-assets initiated by the Customer), including:

   • the name of the payee;

   • the payee’s distributed ledger address, in cases where a transfer of crypto-assets is registered on a network using DLT or similar technology, and the payee’s crypto-asset account number, where such an account exists and is used to process the transaction;

   • the payee’s crypto-asset account number, in cases where a transfer of crypto-assets is not registered on a network using DLT or similar technology; and

   • subject to the existence of the necessary field in the relevant message format, and where provided by the payee to its crypto-asset service provider, the current LEI or, in its absence, any other available equivalent official identifier of the payee.

4. Completion of the Form by the Customer - if applicable - should take place no later than at the time of execution of the transfer of crypto-assets, of which the Customer will be duly informed when ordering the transfer. In addition, the Platform Operator shall allow for subsequent completion of the Form by the Customer, i.e. after the execution of the transfer of crypto-assets, to the extent of the transfer described in point 3(a) above, possibly within 3 (three) days, but no later than within 7 (seven) calendar days - in reasonable cases. If the Form is not properly completed with respect to the transfer described in point 3(b) above - the Platform Operator will not be able to make the crypto-assets from this transfer available. The Platform Operator is not responsible for any delays in the execution of the transfer of crypto-assets or exchange rate differences related to the completion of the Form by the Customer and the User at a later time than during the execution of the transfer of crypto-assets.

5. The Platform Operator is obliged to reject/non-execute transfers of crypto-assets for which the Form has not been completed at least to the extent of the data indicated in point 3 and within the deadline indicated in point 4 above - with respect to the payer and payee of each transfer, respectively. Rejection/non-execution of a transfer of cryptoassets by the Platform Operator on this basis, will entail:

   1. the necessity to return the assets to the payer of the transfer of crypto-assets, in the form of the amount of the transfer reduced by the value of the fee to the network and/or the operating fee incurred by the Platform Operator in connection with the return of the transfer, which will depend on the amount and type of the crypto-asset in question, including the 0.5% operating fee for the return, in effect at the time of the execution of the return (hereinafter: the Return Value), and which shall take place within 30 calendar days, or

   2. the inability of return the crypto-assets by the Platform Operator if the value of the fee to the network and the reimbursement fee associated with the possible return of crypto-assets to the initiator of the transfer is higher than the Return Value;

The Platform Operator informs that the return will take place on the first possible date within the period indicated in point 5(a). The Return Value does not depend on the Platform Operator, but on the current exchange rate of the cryptocurrency in question and other random factors. The Platform Operator is not responsible for the possible increase in the amount of the fee to the network and/or the operating fee depending on the moment of execution of the return.

Information on the amount of fees incurred in the refund of transactions to the network and/or operating fees, will be made available to the User or Customer upon request within 14 business days, reported to Coin Accepted Customer Service possibly no later than 90 days from the date of the refund, to the email address: [email protected].

 

6. In the event that, due to the lack of necessary information or doubts about the correctness of the data provided, the transfer of crypto assets cannot be refunded (in particular in the absence of information about the address of the wallet belonging exclusively to the transfer initiator), Platform Operator:

1. will contact the Customer to obtain the necessary information to enable the return of the crypto assets;

2. after receiving complete and correct information, will process the refund within the period specified in point 5(a) above, which shall commence on the date when Platform Operator receives all necessary and correct information;

3. in the event of not receiving the necessary information, will keep the crypto assets in a separate account until receiving a set of information enabling the return to be made;

4. is not liable for any losses, including in particular those resulting from changes in the rates of crypto assets, caused by the inability to process the refund within the period specified in point 5(a) above, if the delay is due to reasons not attributable to Platform Operator, in particular due to the lack or incorrectness of information that is required to process the refund.

7. In the event that the Platform Operator has doubts as to the veracity of the information completed pursuant to point 3(a) or 3(b) above, the Platform Operator shall be entitled to verify the submitted data on its own or by contacting the Customer (or Partner) in the forms described under these Statute. The Platform Operator reserves the right to apply to such transfer the measures described in § 7 of the Regulations for Coin Accepted Services, if the application of such measures is justified by the circumstances referred to in the aforementioned paragraphs.

8. Acceptance of these Statute of Making Payments is tantamount to either the User's or Customer's agreement to the provisions of this paragraph, including those covering the rejection/non-execution by the Platform Operator of a proper transfer of crypto-assets.

 

§ 3 

Rights and obligations of the Platform Operator

1. Platform Operator is not responsible for the processing of payments to a wallet address incorrectly indicated by the Customer in connection with the Customer's desire to make a payment.

2. Platform Operator is not a party to the contract or legal relationship between the Partner and the Partner's Customer, in particular the sales contract or service contract, and therefore shall not be liable to the Partner's Customer for non-performance or undue performance of the obligation by the Partner, nor to the Partner for non-performance or undue performance of the obligation by the Partner's Customer.

3. Platform Operator in particular is not responsible to the Partner's Customers for the Partner's ability to conclude and perform the agreement for the sale of goods or services, and is not responsible to the Partners for the solvency of their Customers in the performance of such agreements between them.

4. Platform Operator may withhold or refuse to provide the payment service in the event that it has reasonable doubts as to the legality of the payment, including, in particular, the possibility that it may be connected to money laundering, terrorist activity or other criminal activity.

5. Platform Operator reserves the right to withhold or refuse to process a payment in the event of a breach of the Statute or when there is a justified suspicion that the transaction being made is in breach of the law or the provisions of the Statute.

6. Platform Operator, in the event of a situation described in § 2 point 7 above, i.e. a payment by a Customer using anonymous protocols, reserves the right to refuse to process such a payment altogether due to the Platform Operator's inability to identify and verify the parties involved in the transaction.

7. In addition, on the basis of internal procedures, based on the provisions of generally applicable law, including especially AML regulations, applied by the Platform Operator and the list of international sanctions, the Platform Operator reserves the right not to enter into business relationships (including refusal to provide payment processing services) with residents or entities who are based or who reside in the territory of countries that have been placed on the international sanctions list. At the same time, due to the very high risk of money laundering and terrorist financing, the Platform Operator reserves the right not to enter into business relations with residents or entities domiciled or residing in the territory of countries that have been declared unacceptable countries under internal procedures. This is solely due to international guidelines and legal requirements and is in no way intended to discriminate against such persons on the basis of nationality. A list of unacceptable countries and regions is available on the Platform Operator's website.

8. Platform Operator shall not be liable for any damages incurred by the Customer due to the withholding or refusal to process a transaction in cases where such withholding or refusal of the Service was justified in accordance with this Statute, in particular if the Partner's Customer grossly violates the provisions of this Statute or generally applicable laws.

 

§ 4 Data protection and privacy policy

1. Depending on the accepted settings of the Partner and the type of transaction carried out by the Partner's Customer, the Platform Operator may receive from the Partner and process the Customer's personal data in the form of an e-mail address. In connection with such transfer by the Partner to the Platform Operator of the aforementioned personal data of the Customer, the Data Controller of such personal data becomes the Platform Operator - BB Trade Bahamas Ltd, 201 Church Street, Box N-3406 Nassau, Bahamas, entered in the Register of Entrepreneurs under No. 213148B (as "Controller").

2. The Customers' personal data provided by the Partner to the Platform Operator shall be processed in accordance with the law, including in particular the provisions of the Bahamas Data Protection Act 2003, as well as respecting the laws of the third party countries that apply to Partners or Partners' Customers. 

3. All of the necessary information regarding the processing of personal data could be found in the Coin Accepted Privacy Policy. 

4. Contact details of the Data Controller on issues related to the protection of personal data: [email protected].  

5. Providing personal data in the scope of wishing to use the Coin Accepted Services is voluntary, however, without providing such data, the provision of services to the Partner shall be impossible. 

 

§ 5 

Complaint procedure

1. If, in the opinion of the Customer, the Payment Processing Services provided by the Platform Operator are not performed in accordance with the Statute, the Customer may lodge a complaint in the manner set out in this section.

2. The complaint may be lodged in writing:

• via traditional post, by sending it to the correspondence address of the Platform Operator: BB Trade Bahamas Ltd, 201 Church Street, Box N-3406 Nassau, Bahamas; 

or:

• by e-mail, by sending it to the following e-mail address: [email protected].

3. The complaint should include:

• Customer identification data;

• the subject matter and circumstances justifying the complaint;

• the proposed method of resolving the complaint.

4. Complaints will be considered in the order of receipt, but no later than within 14 (fourteen) days. In the event that the complaint does not contain the information necessary for its consideration, the Platform Operator shall ask the Customer to supplement it to the extent necessary, and the period of 14 (fourteen) days shall then run from the date of delivery of the supplemented complaint. The Platform Operator reserves the right to extend the deadline for consideration of the complaint in justified cases, for a further 14 (fourteen) days, of which the complainant will be informed.

5. The Customer submitting the complaint shall be informed of the manner in which the complaint has been dealt with in the form in which it was submitted.

6. The Customer has the right to appeal against the decision made by the Operator of the Platform within the scope of the complaint. The provisions of points 2, 3 and 4 of this § shall apply accordingly.

 

§ 6 

Final provisions

1. In matters not regulated in this Statute, as well as in relation to capitalized expressions used therein, the provisions of Terms and Conditions of the Coin Accepted Platform and Regulations for Coin Accepted Services shall apply.

2. The Operator of the Platform reserves the right to amend the Statute. Amendments will be effective 7 days after they are published on the Website and Portal.

3. The law applicable to the provision of the Payment Processing Service by the Payment Operator under the terms and conditions specified in the Statute shall be the law of the Bahamas. The above reservation does not deprive the Customers who are consumers of the protection granted to them by the law of the place of their habitual residence.

4. Any disputes related to the Payment Processing Services shall be settled by the competent common courts.