Terms & Conditions
Terms & Conditions for Customer Onboarding
Please read these terms of service carefully before clicking the “Submit” button or by accessing / using the services. By creating an account with Sors Digital Assets, you agree to be legally bound by the following terms of service and all terms incorporated by reference.
Sors Digital Assets Limited, Company Number 649996 (“Sors”) is operating as a Virtual Assets Services Provider (“VASP”). As per the terms of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 to 2021 (the “CJA 2010 to 2021”) section 106F, Sors is taken to be registered to carry on business as a VASP. The Central Bank of Ireland is the competent authority in Ireland for the monitoring and supervision of VASPs compliance with their AML/CFT obligations under Part 4 of the CJA 2010 to 2021, and all registered businesses are supervised by the Bank for anti-money laundering and countering the financing of terrorism purposes only. In accordance with section 106G of the CJA 2010 to 2021, Sors has submitted an Application for Registration as a VASP to the Central Bank. In accordance with section 106H of the CJA 2010 to 2021, the registration process is ongoing with the Central Bank.
By opening an account with us, you warrant and represent that:
1) You have accepted these terms and conditions.
2) You are at least 18 years of age and have the full capacity to accept these terms and conditions and enter into a transaction involving the sale or purchase of Virtual Assets.
3) You have obtained, and will comply with the terms and conditions of, all licences, consents, registrations, authorisations, recognitions and exemptions necessary when engaging in Digital Asset transactions.
4) Any information you provide to us at any time will be true and accurate in all respects;
5) The funds you are using to buy Virtual Assets and the funds released from the sale of any Virtual Asset using our services, are your own funds and you are not buying or selling Virtual Assets on behalf of any other third party.
6) You are not using and will at no time use our services for any transaction which is illegal or contrary to any law or regulation in force in Ireland or in any jurisdiction in which you are resident at the time when the transaction is entered into;
7) You are not using and will at no time use our services to perform criminal activity of any sort, including but not limited to, money laundering or terrorist financing;
8) You have the capability to take delivery of any Virtual Assets you purchase through your use of the services.
If at any time after we have opened your account, we become aware that any of the warranties and representations you have made are untrue, or a change of material circumstances outside of your control, we reserve the right, without notice to you, to cease processing any transactions for you, immediately close your account and take such further action at our absolute discretion.
Capitalized terms not otherwise defined in these Terms will have the following meaning:
- “External Account” means any Financial Account, Virtual Asset Account or Wallet: (i) from which you may transfer Funds to SORS Account, and (ii) to which SORS may transfer Funds to you.
- “Financial Account” means any financial account of which you are the beneficial owner that is maintained by a third party outside of the Services, including, but not limited to third-party payment service accounts or accounts maintained by third party financial institutions.
- “Funds” means Virtual Assets and/or Legal Tender.
- “Legal Tender” means any national currency, such as Euros, that may be used in connection with a purchase or sale of Virtual Assets via the Services, and does not include any Digital Asset.
- “Virtual Asset” means a digital representation of value that can be digitally traded or transferred and can be used for payment or investment purposes but does not include digital representations of fiat currencies, securities or other financial assets, for instance Bitcoin and Ethereum.
- “Virtual Asset Account” means any Virtual Asset address, account or wallet owned, controlled or operated by you that is maintained outside of the Services, and is not owned, controlled or operated by SORS.
- “Services” means any Virtual Asset service provided by SORS which include, exchange between one or more forms of virtual assets;transfer of virtual assets, that is to say, to conduct a transaction on behalf of another person that moves a virtual asset from one virtual asset address or account to another and participation in, and provision of, financial services related to an issuer’s offer or sale of a virtual asset or both.
SORS may not make the Services available in all markets and jurisdictions and may restrict or prohibit use of the Services from certain foreign jurisdictions (“Restricted Locations”). If you are registering to use the Services on behalf of a legal entity, you represent and warrant that (i) such legal entity is duly organised and validly existing under the applicable laws of the jurisdiction of its organization; and (ii) you are duly authorized by such legal entity to act on its behalf.
You further represent and warrant that you: (a) are of legal age to form a binding contract (at least 18 years old in Ireland); (b) have not previously been suspended or removed from using our Services; (c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party; (d) are not located in, under the control of, or a national or resident of any Restricted Locations, and (e) will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.
SORS may condition your access or continued access to certain Services (or features of those Services), such as by imposing eligibility requirements. SORS will keep you informed of these via our website. SORS may require, on an ongoing basis, that you demonstrate to us that you continue to meet these requirements. SORS’s decisions with respect to eligibility are final.
Number of SORS Accounts: SORS may, in its sole discretion, limit the number of SORS Accounts that you may hold, maintain or acquire.
SORS Account information and security: In order to engage in any of the Services, you must create a SORS Account and provide any requested information. When you create a SORS Account, you agree,where applicable, to: (a) create a strong password that you do not use for any other Website or online service; (b) provide accurate and truthful information; (c) maintain and promptly update your SORS Account information; (d) maintain the security of your SORS Account by protecting your password and restricting access to your SORS Account; (e) promptly notify us if you discover or otherwise suspect any security breaches related to your SORS Account; and (f) take responsibility for all activities that occur under your SORS Account and accept all risks of any authorized or unauthorized access to your SORS Account, to the maximum extent permitted by law.
Please refer to our Privacy Notice regarding your personal information and about how we collect, use and share your information.
1) Accuracy of Information: You must provide any information required when creating a SORS Account or when prompted by any screen displayed within the Services. You represent and warrant that any information you provide via the Services is accurate and complete.
2) Taxes: You shall be responsible for all filings, tax returns and similar reports on any transactions undertaken pursuant to these terms or in connection with the Virtual Assets which must be made to any relevant authority whether governmental or otherwise and for the payment of all unpaid calls, taxes (including without limitation any value added tax), levies or duties, or any other liability or payment arising out of or in connection with the Virtual Assets.
3) SORS is not acting under these terms as manager or investment adviser to you, and responsibility for the selection, acquisition and disposal of Virtual Assets remains with you at all times. Sors shall have no obligation to explain or warn of any risks taken or to be taken by you.
4) Regulatory Requirements: Notwithstanding any provision of these terms to the contrary, but subject to the provisions of any amendment terms, where Sors is for the time being subject to any regulatory requirements (whether made by the laws of Ireland or otherwise) in relation to its dealings with you under these terms, the rights and obligations Sors under the provisions of these terms shall be read and construed to the greatest extent permitted by, and in accordance with such applicable regulatory requirements.
5) Disclosure: Whilst you and Sors agree to use our reasonable efforts to keep confidential any information that either of them may receive in relation to these terms, both agrees and understands that the other may disclose such information if required to do so by any applicable law, statute or other regulation of or by way of court order or similar process enforceable in any relevant jurisdiction or if required to do so by any regulatory body or self-regulatory organisation (whether of a governmental nature or otherwise) in any relevant jurisdiction and to whose authority the relevant party is (whether or not through force of law) subject or otherwise accustomed to act.
Before you engage with a VASP, you should be aware of the following. You should not transact with virtual currencies or assets if you are not familiar with virtual currencies or assets. Transacting in virtual currencies or assets may not be suitable for you if you are not familiar with the technology that virtual currencies or assets services provide. You should be aware that the value of virtual currencies or assets may fluctuate greatly. You should buy virtual currencies or assets only if you are prepared to accept the risk of losing all of the money you put into such tokens. In the event you intend to onboard with Sors Digital Assets to trade in Virtual Assets, by onboarding with us you acknowledge that you are aware of any rules and/or regulations applicable to the provision of Virtual Assets and/or financial services, the high degree of risk involved and that in no event will Sors Digital Assets or any if its directors or employees be liable for any injury loss, claim or damage (whether direct, indirect, consequential or incidental) arising either directly or indirectly out of, or in any way connected with, the site, or its use. If you are located, incorporated, or otherwise established in, or a citizen or resident of certain jurisdictions, Sors Digital Assets may be unable to, or otherwise reserve its right to refuse to engage in or establish a trading relationship with you. Please contact us if you believe you have received this notice in error. RISK WARNING ON VIRTUAL CURRENCIES The Central Bank of Ireland provides this risk warning to you as a consumer on virtual currencies: https://www.centralbank.ie/consumer-hub/consumer-notices/consumer-warning-on-virtual-currencies
Consent to Electronic Delivery: You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, “Communications”) that SORS provides in connection with your SORS Account and/or use of the SORS Services. You agree that SORS may provide these Communications to you by emailing them to you at the email address you provide, and/or by sending an SMS or text message to a mobile phone number that you provide. Your carrier’s normal messaging, data and other rates and fees may apply to any mobile Communications. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy. You may also contact us through email@example.com to request additional electronic copies of Communications or, for a fee, paper copies of Communications (as described below).
Withdrawal of Consent: You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to firstname.lastname@example.org If you decline or withdraw consent to receive electronic Communications, SORS may suspend or terminate your use of the Services. Unsubscribe requests submitted may take up to 10 business days to process.
Updating Contact Information: It is your responsibility to keep your email address and/or mobile phone number on file with SORS up to date so that SORS can communicate with you electronically. You understand and agree that if SORS sends you an electronic communication but you do not receive it because your email address or mobile phone number on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, SORS will be deemed to have provided the Communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add SORS to your email address book so that you will be able to receive the Communications we send to you. You can update your email address, mobile phone number or street address at any time by sending such information to email@example.com. If your email address or mobile phone number becomes invalid such that electronic Communications sent to you by SORS are returned, SORS may deem your account to be inactive, and you may not be able to complete any transaction via our Services until we receive a valid, working email address or mobile phone number from you.
When accessing or using the 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 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 Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;
- Use our 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 Services 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 Services that you are not authorized to access;
- Develop any third-party applications that interact with our Services without our prior written consent;
- Provide false, inaccurate, or misleading information; and
- Encourage or induce any third party to engage in any of the activities prohibited under this Section.
In the event of any Force Majeure Event breach of these Terms, or any other event that would make provision of the Services commercially unreasonable for SORS, we may, in our discretion and without liability to you, with or without prior notice, suspend your access to all or a portion of our Services. We may terminate your access to the Services in our sole discretion, immediately and without prior notice, and delete or deactivate your SORS Account and all related information and files in such account without liability to you, including, for instance, in the event that you breach any part or section of these Terms. In the event of termination, SORS will attempt to return any Funds that you are owed, unless SORS believes you have committed fraud, negligence or other misconduct.
Discontinuance of 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 discontinmue, any portion of our Services.
Disclaimer of Warranties
EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY US, OUR SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.
YOU ACKNOWLEDGE THAT INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES MAY BECOME IRRETRIEVABLY LOST OR CORRUPTED OR TEMPORARILY UNAVAILABLE DUE TO A VARIETY OF CAUSES, INCLUDING SOFTWARE FAILURES, PROTOCOL CHANGES BY THIRD PARTY PROVIDERS, INTERNET OUTAGES, FORCE MAJEURE EVENT OR OTHER DISASTERS INCLUDING THIRD PARTY DDOS ATTACKS, SCHEDULED OR UNSCHEDULED MAINTENANCE, OR OTHER CAUSES EITHER WITHIN OR OUTSIDE OUR CONTROL. YOU ARE SOLELY RESPONSIBLE FOR BACKING UP AND MAINTAINING DUPLICATE COPIES OF ANY INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES.
Limitation of Liability
(a) EXCEPT AS OTHERWISE REQUIRED BY LAW, IN NO EVENT SHALL SORS, OUR DIRECTORS, MEMBERS, SUBSIDIARIES, GROUP COMPANIES, SISTER COMPANIES , EMPLOYEES OR AGENTS BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES OR THE SORS MATERIALS, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM SORS, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO SORS’S RECORDS, PROGRAMS OR SERVICES.
(b) TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF SORS (INCLUDING OUR DIRECTORS, MEMBERS, SUBSIDIARIES, GROUP COMPANIES, SISTER COMPANIES , EMPLOYEES OR AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, SORS OR TO THESE TERMS EXCEED THE FEES PAID BY YOU, IF ANY, TO SORS DURING THE 24 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.
You agree to defend, indemnify and hold harmless SORS (and each of our officers, directors, members, employees, agents and affiliates) from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to (a) your use of, or conduct in connection with, our Services; (b) any Feedback you provide; (c) your violation of these Terms; or (d) your violation of any rights of any other person or entity. If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it.
Entire Agreement: These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services. These Terms do not alter the terms or conditions of any other written and signed agreement you may have with SORS for the Services or for any other SORS product or service or otherwise. In the event of any conflict between these Terms and any other agreement you may have with SORS, the terms of that other agreement will control only if these Terms are specifically identified and declared to be overridden by such other agreement.
Amendment: We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion, by posting the amended Terms via the Website and mobile applications or by communicating these changes through any written or other contact method we have established with you and updating the “Last Updated” date at the top of these Terms. The amended Terms will be effective immediately thereafter and your use of the Services following the date on which such amended Terms are published will constitute consent to such amendments.
Waiver: Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.
Severability: The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.
Force Majeure Events: SORS shall not be liable for (1) any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information; (2) any loss or damage arising from any event beyond SORS’s reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, pandemics, employment dispute, accident, action of government, communications, power failure, or equipment or software malfunction or any other cause beyond SORS’s reasonable control (each, a “Force Majeure Event”).
Assignment: You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from SORS, including by operation of law or in connection with any change of control. SORS may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.
Law: These terms and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of Ireland.
Jurisdiction: Each party irrevocably agrees that the courts of Ireland shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims.
This statement discloses the privacy practices for SORS’ websites. Questions regarding this statement should be directed at contact[at]sorsdigitalassets.com
We respect the privacy of those individuals who visit and use our site and therefore have adopted a set of information management guidelines, which are the foundation of our client relationships. These guidelines have been developed with the recognition that Internet technologies are rapidly evolving, and that underlying business models are still not established. Accordingly, guidelines are subject to change. Any such changes will immediately be posted on this page.
What we do
We collect personally identifiable information about our users. Our goal in collecting personal information online is to provide you with the most useful and helpful experience possible. By knowing your preferences, we will be able to deliver information that meets your needs and allow you special access privileges. Through online forms, we collect:
Any KYC/CFT Information required to use our services
We use this information:
To email our newsletters.
To perform statistical analyses measuring relative interest in the various areas of our site
To recognise user access privileges
To meet our obligations under Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 and any other relevant legistation, law or regulation.
What we do not do (under any circumstances):
Link IP address to anything personally identifiable
Share the information we track on this site, in any form with advertisers or other parties
Release personal information about any individual visitor, unless required by law or legal obligation.
Upon request, Sors Digital Assets will remove any subscriber (and his or her personal information) from our subscribers lists subject to our obligations under the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 and any other relevant legistation, law or regulation.
Any such request should be directed to contact[at]sorsdigitalassets.com
Sors Digital Assets is not responsible for the content or the privacy policies of external Web sites to which we may link.
This information contained in this website is intended as a general introduction to Sors Virtual Assets Limited and its activities as a Virtual Asset Service Provider (VASP) service provider and is for informational purposes only.
Before you engage with a VASP, you should be aware of the following.
You should not transact with virtual currencies or assets if you are not familiar with virtual currencies or assets. Transacting in virtual currencies or assets may not be suitable for you if you are not familiar with the technology that virtual currencies or assets services provide.
You should be aware that the value of virtual currencies or assets may fluctuate greatly. You should buy virtual currencies or assets only if you are prepared to accept the risk of losing all of the money you put into such tokens.
In the event you intend to onboard with Sors Virtual Assets to trade in Virtual Assets, by onboarding with us you acknowledge that you are aware of any rules and/or regulations applicable to the provision of Virtual Assets and/or financial services, the high degree of risk involved and that in no event will Sors Virtual Assets or any if its directors or employees be liable for any injury loss, claim or damage (whether direct, indirect, consequential or incidental) arising either directly or indirectly out of, or in any way connected with, the site, or its use.
If you are located, incorporated, or otherwise established in, or a citizen or resident of certain jurisdictions, Sors Virtual Assets may be unable to, or otherwise reserve its right to refuse to engage in or establish a trading relationship with you. Please contact us if you believe you have received this notice in error.
RISK WARNING ON VIRTUAL CURRENCIES
The Central Bank of Ireland provides this risk warning to you as a consumer on virtual currencies: https://www.centralbank.ie/consumer-hub/consumer-notices/consumer-warning-on-virtual-currencies