Effective Date: January 1, 2025
Effective Date: January 1, 2025
You ("user") agree that these terms and conditions ("Terms") regulate your access to and use of the Services. The terms "Company," "we," "us" and "our" refer to TOONPAY TECHNOLOGIES LIMITED incorporated in Hong Kong. Some regulated services will be provided by Partner. If a Partner provides a different policy for a specific site, application, or service, that particular policy will take precedence.
"Services" refers individually and collectively to the ToonPay Application, Partner Services, and any software services provided by us, as well as all written or electronic materials including software, graphics, data, database, text, audio, images, video, photos, or other content ("Content"), all related features, services, content and applications which the Company, Partners and its affiliated companies may make available to you from time to time.
By registering for the Services or continuing to use the Services, ToonPay Application, or web application ('Platform') you confirm that you have read, understood, and agreed to these Terms as well as our Privacy Policy. IF YOU DO NOT AGREE, PLEASE DO NOT USE THE SERVICES.
Important Statement:
The Company is not a bank, it is a technology company providing virtual asset services. Your account is not covered by deposit insurance against losses.
1.1 Registration
To use the Services available through our Platform, registration is necessary and the payment of a subscription-based account might be applied depending on the Service at the discretion of the Company. During this process, you'll need to provide contact information, including a phone number and password. Once registered, you'll receive an account allowing you access to our Platform ("Account"). We may, at our sole discretion, refuse to open an Account, authorize the Account activation, suspend, and even close it.
1.2 Eligibility
Use of the Services is contingent upon:
1.3 Identification and AML/CTF Compliance
To utilize certain Services, you need to create and maintain an Account. Access to Partner Services is subject to identification, verification, and screening ("KYC") following the Anti-money laundering and counter-terrorist financing standards ("AML/CTF"). Depending on the outcome, additional information might be requested continually.
Enhanced Due Diligence Requirements:
Access to or use of the Services may be denied if you do not provide necessary identity proofs or if the provided documents do not satisfy the Company or Partner's criteria.
1.4 Account Security
You are responsible for keeping your Account information confidential and overseeing all activities that occur under your Account. Should any unauthorized access or security breach occur, you must immediately notify the Company viasupport@toonpool.online
2.1 Scope of Services
Services for users include:
2.2 AML/CTF Compliance Services
The Company implements comprehensive AML/CTF measures including:
2.3 Risk-Based Approach
ToonPay applies a risk-based methodology:
2.4 Virtual Asset Services
The Virtual Assets deposited in our Platform will be held in our Partner Custodian solution. You recognize that the Company will manage the Custodian services on your behalf, ensuring security and compliance with applicable AML/CTF laws.
3.1 Automated Monitoring
3.2 Sanctions Screening
Customers, counterparties, and transactions must be screened against:
Immediate action will be taken in case of a positive match, including freezing of assets and reporting to relevant authorities.
3.3 Virtual Asset-Specific Requirements
ToonPay shall:
4.1 Record Retention
Records related to Customer Due Diligence (CDD), transaction history, risk assessments, and Suspicious Transaction Reports (STRs) must be retained for no less than seven (7) years after the end of the business relationship or transaction. Records must be retrievable promptly upon request from regulatory authorities.
4.2 Suspicious Activity Reporting
All suspicious transactions must be promptly reported to the Joint Financial Intelligence Unit (JFIU) using a Suspicious Transaction Report (STR). All records related to STRs must be retained securely and confidentially.
5.1 Standard CDD Measures
For all customers, we shall:
5.2 Enhanced Due Diligence (EDD)
Enhanced measures apply to:
6.1 Account Limitations
The Company reserves the right to:
6.2 Prohibited Activities
You agree not to engage in:
7.1 Partner Services
The Company's Services might provide access to various financial services. These services are offered directly by Partners and may necessitate separate registration, identity verification, and agreement processes.
7.2 Partner Disclaimer
You neither have any contractual relationship with our Partners nor do our Partners owe any duty of care to you under all circumstances except if otherwise agreed.
8.1 Service Fees
Fees may be charged for:
8.2 Fee Structure
All fees are listed on the Platform and may be updated at the Company's discretion. Fees are final and non-refundable under any circumstances unless otherwise determined by the Company.
9.1 Regulatory Cooperation
Both the Company and Partners reserve the right to conduct comprehensive customer due diligence through KYC, Know Your Transaction (KYT) checks, AML/CTF, and other due diligence checks. You must cooperate in any investigations related to suspicious activities or transactions.
9.2 Training and Awareness
All personnel undergo AML/CTF training annually, with specialized training for customer-facing teams and transaction monitoring teams.
9.3 Independent Audit
ToonPay's AML/CTF program is reviewed at least annually by an independent auditor or competent third party. Audit findings are reported directly to the Board of Directors.
10.1 Termination Rights
The Company reserves the right to terminate, suspend, or limit your use of Services for:
10.2 Account Closure Procedures
Upon termination, withdrawal of remaining balance may be subject to additional identification, verification, and fraud prevention steps to comply with AML/CTF requirements.
When using our Services, be aware of risks associated with Virtual Assets and Services as outlined in our Risk Disclosure document. Additional risks include regulatory changes affecting AML/CTF requirements and potential impact on service availability.
TO THE FULLEST EXTENT PERMITTED BY LAW, THE PLATFORM AND SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. The Company's total liability shall be limited to a maximum of USD 500 as of the date your claim arises.
13.1 Internal Resolution
If you have a dispute with the Company, you agree to first contact our support team at support@toonpool.online to seek an amicable resolution.
13.2 Arbitration
For unresolved disputes, parties agree to binding arbitration governed by Hong Kong International Arbitration Centre (HKIAC) Rules, conducted in Hong Kong.
14.1 Governing Law
These Terms shall be governed by and construed in accordance with the laws of Hong Kong Special Administrative Region.
14.2 Entire Agreement
This agreement, the privacy policy, and all disclosures comprise the entire understanding between the user and Company.
14.3 Amendment
The Company may change these Terms from time to time. Continued use of Services after changes constitutes acceptance of revised Terms.
14.4 Contact Information
For questions regarding these Terms, contact us at support@toonpool.online
15.1 No Offer in the United Arab Emirates
The services, products, and token-related features described on this website are not offered to, and are not intended for use by, residents of the United Arab Emirates (UAE). We do not market, solicit, or provide virtual asset services, token sales, or financial promotions to individuals or entities located in the UAE. If you are a UAE resident or accessing this website from within the UAE, you must not use any token purchase, staking, or reward-related services.
15.2 No Financial Advice
All information provided on this website is for informational purposes only and does not constitute financial, investment, legal, or tax advice. Users should conduct their own due diligence and consult professional advisors before engaging with any digital asset or payment product.
15.3 Third-Party Services
Certain services (including card issuance, custody, and payment processing) may be provided by regulated third-party partners in their respective jurisdictions. We do not hold customer funds and do not act as a bank or financial institution.
15.4 User Responsibility
By using this website, you confirm that:
15.5 Regulatory Status
Our platform operates as a technology and marketing provider. Any regulated financial services are delivered by licensed partners where applicable.
"AML/CTF" means Anti-Money Laundering and Counter-Terrorism Financing
"CDD" means Customer Due Diligence
"CDD" means Enhanced Due Diligence
"FATF" means Financial Action Task Force
"JFIU" means Joint Financial Intelligence Unit
"KYC" means Know Your Customer
"KYT" means Know Your Transaction
"PEP" means Politically Exposed Person
"STR" means Suspicious Transaction Report
"Virtual Assets" refer to any digital representation of value that can be digitally traded, transferred or used for payment
"VASP" means Virtual Asset Service Provider
Effective Date: January 1, 2025
Approved by: Board of Directors, ToonPay Technologies Limited
Last Review Date: January 1, 2025