Last updated: December 31, 2022
Please read these terms and conditions carefully before using our products and services. By clicking “accept/continue,” you’re entering into a legally binding contract with AKA Blockchains.
AKA Blockchains advises members to be cognizant of the following:
Agreements for Digital Assets:
This Agreement encapsulates the written and verbal agreements between AKA Blockchains, third parties, and the Recipient. By consenting to this, the member assumes all the risks and obligations associated with digital assets and agrees to all its stipulated terms and conditions.
Members recognize that trading inherently carries the risk of potential loss. Due to market volatility, we are not bound to provide the prior stated balances in digital assets if the member’s balance depletes to zero. Furthermore, We do not bear responsibility for any market gains or losses.
However, the reimbursement of the initial amount in Euros to our members is assured by our parent company. This commitment is a corporate guarantee, and as such, We take on the full responsibility of ensuring the repayment of the initial funding amount to the designated member.
Tax Harvesting Clause:
Members are reminded that the concept of tax harvesting concludes on the 31st of December 2024, provided members persist in trading with Us. Equity can be released every four years. Consequently, after the cycle post-December 31, 2024, the next cycle will culminate on December 31, 2028.
AKA Blockchains™ asks members to be aware of the following:
- The agreement binds the company and the recipient of digital assets.
- It stipulates two conditions for transfer of digital assets to the recipient’s ledger-live account:
- Time: The assets will be transferred by December 31, 2024, as long as the recipient continues to trade until then.
- Value of assets: If the value of assets is positive at the end of the four-year cycle, they will be transferred to the recipient; if zero, no assets will be transferred.
- The agreement highlights that the recipient assumes all risks associated with the digital asset by accepting the agreement. This includes the understanding that trading carries potential loss, and AKA Blockchains has no obligations if the recipient’s balance reaches zero due to market fluctuations.
- The agreement defines a digital asset as any digital representation of value recorded on a cryptographically secured distributed ledger or similar technology.
- It emphasizes that ownership of digital assets involves knowledge of cryptography and the owner’s particular holding solution.
- The agreement stipulates that the transfer of digital assets involves a standard reporting structure facilitated through a third party for secure access to private keys.
- Customers are responsible for ensuring the correct wallet address is used during transactions, and AKA Blockchains is not liable for any loss resulting from inaccuracies.
- By December 31, 2024, the compilation of digital asset history and the transfer of assets will begin. Both parties will communicate and maintain good faith to complete these processes.
- Lastly, the agreement highlights the concept of tax harvesting, where members are responsible for their own tax obligations associated with the digital assets.
