Last Updated November 22, 2021
The MobileCoin Network uses an open source software protocol commonly known as the MobileCoin protocol. The MobileCoin protocol is designed to enable holders of digital tokens known as MobileCoins to send and receive peer-to-peer payments securely and privately through a digital wallet that can send and receive MobileCoins (MobileCoin Wallets). MobileCoins and MobileCoin Wallets enable a simple, secure, and private medium of exchange for consumers in countries of operation to manage and move their money using a currency of equivalent value across countries.
Please read these Terms carefully before you start to use any MobileCoins and any MobileCoin Wallet. By acquiring or otherwise obtaining MobileCoins, using or transferring MobileCoins or obtaining, accessing or using a MobileCoin Wallet, you acknowledge that you have read, understand, and completely agree to be bound by these Terms. You also agree to require any transferee of your MobileCoins and any holder of a MobileCoin Wallet facilitated by you to be subject to these Terms. These Terms may be enforced against you by MobileCoin TS Ltd., MobileCoin U.S., LLC or other authorized entities (which are collectively referred to in these Terms as the Compliance Entities). These Terms may be amended, changed, or updated by the Compliance Entities at any time and without prior notice to you by posting at www.buymobilecoin.us. Your continued use of any MobileCoins and any MobileCoin Wallets following the posting of any amendment, change, or update means that you accept and agree to the amended, changed, or updated Terms. These Terms are first effective as of August 17, 2021 and supersede any previous versions.
The right to access or use MobileCoin Wallets and use or transfer MobileCoins is a personal, restricted, non-exclusive, non-sublicensable, revocable, limited license, and it is subject to the limitations and obligations in these Terms. Every Prohibited Person is strictly prohibited from directly or indirectly transacting, transferring, holding, owning, accessing or using any MobileCoins and any MobileCoin Wallets in any way.
You are a Prohibited Person if you are:
No MobileCoin Wallet may be operated for and no order or transaction in a MobileCoin Wallet may be used for the financial or other benefit of or on behalf of a Prohibited Person. Persons, whether or not Prohibited Persons, are prohibited from operating a MobileCoin Wallet in any way or otherwise transacting on or using any MobileCoins and any MobileCoin Wallets while they or any individual (including any fiduciary, dealer, trustee, executor or administrator), agency or branch operating their MobileCoin Wallet on their behalf is present in any jurisdiction in which MobileCoins are unlawful.
Certain software comprising MobileCoin Wallets is available to the public without charge on an open source basis. This software is provided “as is” without warranty of any kind. However, MobileCoin Wallets linked to a mobile messaging application may integrate software from a third party. MobileCoin Wallets must be accessed through a telephone, computer or other equipment as well as a network connection through telecommunication lines or other utility. None of these components of the MobileCoin Wallet is provided or controlled by the Compliance Entities. The Compliance Entities are not responsible for the accuracy or reliability of any open-source software or of any software, hardware, information, or advice provided by third parties or for their privacy and security policies and procedures.
Access to and use of your MobileCoin Wallet may from time to time be unavailable, delayed, limited or slowed due to failures of hardware, software, utility services or other causes outside the control of the Compliance Entities. You may suffer losses as a result of these delays and limitations. You assume all risks associated with the operation, performance and security of a MobileCoin Wallet. You are responsible for maintaining the security of your MobileCoin Wallet and any password or other security designed to limit access.
In addition to these Terms, you may be bound by any additional terms required by your third-party providers. These third parties’ terms may apply to your use of the MobileCoin Wallets. Please be aware that these Terms do not govern third parties’ relationships with you. These third parties, and not any Compliance Entity, are responsible for any product or service warranties, whether express or implied by law, provided to you.
MobileCoins are digital tokens. Digital tokens such as MobileCoins are not legal tender, are not backed by any government, and are not insured. MobileCoins do not provide you with any ownership of any physical asset or ownership or other interest or rights of any form with respect to the Compliance Entities or any affiliate or its revenue or assets, including any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property), or other financial or legal rights. MobileCoins are distributed and offered on an as-is, and, are offered without any representation as to merchantability or fitness for any particular purpose.
You accept all consequences of sending MobileCoins. MobileCoin transactions are not reversible or refundable. Once you send MobileCoins to an address, whether intentionally or by a fraudulent or accidental transaction, you accept the risk that you may lose access to, and any claim on, those MobileCoins indefinitely or permanently.
You may not:
Any of these uses may be described in these Terms as a Prohibited Use. Should your actions or inaction result in Loss being suffered by the Compliance Entities or any Associates, you will pay an amount to the Compliance Entities or the Associates so as to render the Compliance Entities or the Associates whole, including the amount of taxes or penalties that might be imposed on the Compliance Entities or the Associates.
In these Terms, Associates of the Compliance Entities means the successors, assignees and affiliates of MobileCoin TS Ltd., MobileCoin U.S., LLC and their respective shareholders, directors, officers, affiliates, employees, contractors, agents, partners, insurers, attorneys, and any licensors of technology to the Compliance Entities.
In these Terms, Losses means any claim, application, loss, injury, delay, accident, cost, business interruption costs, or any other expenses (including attorneys’ fees or the costs of any claim or suit), including any incidental, direct, indirect, general, special, punitive, exemplary, or consequential damages, loss of goodwill or business profits, work stoppage, data loss, computer failure or malfunction, or any and all other commercial losses;
The MobileCoin name and logo are protected trademarks. You agree not to copy, modify, display, or use these trademarks without written permission from the Compliance Entities. All rights not expressly granted to you in these Terms are reserved.
You represent and warrant to the Compliance Entities on the date of your acceptance of these Terms and each day on which you use or transfer MobileCoins or use a MobileCoin Wallet, in each case with reference to the facts and circumstances existing at such date, as follows:
In these Terms, Tax Information Exchange Laws means laws relating to the exchange of information relating to taxes between governments, including United States Foreign Account Tax Compliance Act, as enacted by Title V, Subtitle A of the Hiring Incentives to Restore Employment Act, P.L 111-147 (2010), as amended; and common reporting standard or the Standard for Automatic Exchange of Financial Account Information.
The Compliance Entities make no warranties, or guarantees to you of any kind and, to the extent permitted by applicable laws, the Compliance Entities expressly disclaim all representations, warranties, covenants or guarantees, express, implied or statutory, with respect to MobileCoins and any MobileCoin Wallet. The MobileCoins and the MobileCoin Wallet are distributed and offered strictly on an as-is, and, without limiting the generality of the foregoing, are distributed and offered without any representation as to merchantability or fitness for any particular purpose. The Compliance Entities do not provide any investment, legal, accounting, tax or other advice.
Important: Except as may be provided for in these Terms, the Compliance Entities assume no liability or responsibility for and will have no liability or responsibility for any Losses directly or indirectly arising out of or related to:
You agree to release the Compliance Entities and its Associates from liability for any and all Losses, and you will indemnify and save and hold the Compliance Entities and its Associates harmless from and against all Losses. The foregoing limitations of liability will apply, to the extent permitted by law, whether the alleged liability or losses are based on contract, negligence, tort, unjust enrichment, strict liability, violation of law or regulation, or any other basis, even if the Compliance Entities and its Associates have been advised of or should have known of the possibility of such losses and damages, and without regard to the success or effectiveness of any other remedies.
Any right or remedy of the Compliance Entities set forth in these Terms is in addition to, and not in lieu of, any other right or remedy whether described in these Terms, at law or in equity. The Compliance Entities’ failure or delay in exercising any right, power, or privilege under these Terms will not operate as a waiver thereof. If any portion of these Terms is found to be invalid or unenforceable for any reason, the invalid or unenforceable provision shall be severed from these Terms. Severance of invalid or unenforceable provisions of any of these Terms will not affect the validity or enforceability of any other of these Terms, all of which will remain in full force and effect. The Compliance Entities will have no responsibility or liability for any failure or delay in performance, or any loss or damage that you may incur, due to any Force Majeure or circumstance or event beyond its control. You may not assign or transfer any of your rights or obligations under these Terms, without the Compliance Entities’ prior written consent, including by operation of law or in connection with any change of control, and any such assignment or transfer by you without the Compliance Entities’ prior written consent shall be null and void and of no effect. The Compliance Entities may assign or transfer any or all of its rights or obligations under these Terms, without notice or your consent. If there is a conflict between these Terms and any other agreement with the Compliance Entities, these Terms will control unless the other agreement specifically identifies these Terms and declares that the other agreement supersedes these Terms. These Terms do not create any third-party beneficiary rights in any person, save that any Compliance Entity or any of its respective Associates may rely on these Terms in any action, suit, proceeding or other dispute brought against it by you, to exercise any right or to benefit from any limitation expressly provided to it hereunder and to enforce such provisions of these Terms as if party hereto.
Any dispute, claim, controversy or action arising out of or related to (a) these Terms or the existence, breach, termination, enforcement, interpretation or validity thereof or (b) your MobileCoins or MobileCoin Wallet, will be subject to the exclusive jurisdiction of the courts of the British Virgin Islands. This provision expressly applies to any claim, whether in tort, contract or otherwise, against the Compliance Entities.
You irrevocably and unconditionally agree and consent to the jurisdiction and venue of the courts of the British Virgin Islands, and you waive any objections. The foregoing shall be without prejudice to any applicable provisions of mandatory consumer protection law under the laws of your country of residence, to the extent that these offer you more protection.
Any complaint or dispute is personal to you and you agree that it will not be brought as a class action, class arbitration or any other type of representative proceeding. There will be no class action in which you attempt to resolve a complaint or dispute as a representative of another individual or group of individuals, save with the express agreement in writing of the relevant Compliance Entity.
JURY TRIAL WAIVER: TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING OF ANY KIND WHATSOEVER ARISING OUT OF OR RELATING TO THESE TERMS OR ANY BREACH THEREOF, ANY USE OR ATTEMPTED USE OR TRANSFER OF MOBILECOINS OR USE OR ATTEMPTED USE OF A MOBILECOIN WALLET BY YOU, AND/OR ANY OTHER MATTER INVOLVING THE PARTIES.
These Terms and any information or notifications that are provided under these Terms shall be in English.
If you have any questions relating to these Terms, your rights and obligations arising from these Terms and/or your use of any MobileCoins and any MobileCoin Wallets, please use the question form at www.buymobilecoin.us or the MobileCoin TS Ltd. website at http://www.buymobilecoin.com (non-US only).