Terms of Service
Detailed Terms of service
Last updated: May 13, 2020
Please read these carefully before using our service.
The Terms of service for AKA Blockchains are below listed. If you do not agree or cannot adhere to any terms set forth below, you may not access any AKA Blockchains service. It is your responsibility to ensure that you are aware of what is constituted within the our “Terms and conditions”, and “Terms of service”.
This website, AKA Blockchains, is operated and controlled by a registered Irish company. Throughout the site, the terms “we,” “us” and “our” refer to AKA Blockchains.
AKA Blockchains offers this website, which is inclusive of all information posted and services provided to the user. By visiting our site and/or engaging in the purchase of our products and services, or any other ways not listed as engaging with the website, the user is binding themselves to the following terms of service .
AKA Blockchains asks individuals to be aware of the following:
1. Applicable Laws: AKA Blockchains is a brand registered under a company incorporated and based in Ireland, therefore, the laws of Ireland apply to all AKA Blockchains activities. Failure to comply with these laws will result in immediate expulsion from this site without any forewarning.
2. Revisions and Updates: Any revisions, changes, and updates made to this website are subject to the terms of conditions listed on this page. Users must ensure they are aware of the latest terms of conditions before engaging in purchase and/or sale orders or any other related activities. Continuing to engage with the website implies acceptance of these terms of service.
3. Breach of Terms: A breach or violation of any terms will result in the immediate termination of services. We reserve the right to refuse service to anyone for any reason at any time. – We enforces a Zero Tolerance Policy against harassment, threats, and aggressive behavior, with strict consequences including possible termination of employment or business relationships, to ensure a safe and respectful environment.
4. Purchase and Sale Order Thresholds Minimum and maximum purchase and/or sale order amounts are subject to change without notice. We reserve the right to deny any transaction based on failure to satisfy these thresholds.
5. Member Responsibility for Wallet Addresses Members must ensure the correct wallet address is used. We cannot be held responsible for any loss to the member or any third party resulting from the use of incorrect wallet addresses.
6. Accuracy and Validity of Material While every effort has been made to ensure the accuracy and validity of material on this site, AKA Blockchains cannot be held responsible for any inaccuracies listed or any consequences thereof.
7. General Information The material on this site is provided for general information and should not be used as the sole basis for decision-making. It is subject to change without notice. Users are responsible for seeking timely, accurate, and complete information for decision-making. AKA Blockchains cannot be held liable for any damages resulting from incorrect, inconsistent, or missing information on the website.
8. Limitation of Liability In no event will we be liable for any loss or damage, including indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits in connection with the use of this website.
9. Website Availability Every effort is made to keep the website up and running smoothly. However, AKA Blockchains takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
10. Contact Information Questions about the Terms of service should be sent to us at hello@akablockchains.com.
Important Disclosures & Other Information
Detailed Risk Disclosure
Certain Risk Factors:
In Ireland, digital assets are not regarded as either “money” or “currency”. The Central Bank of Ireland (CBI) has issued a warning on its website that digital assets are not legal tender and are neither guaranteed nor regulated by the CBI. The dangers associated with such currencies, as mentioned by the CBI in its warning, include their extreme volatility, the absence of regulatory protection, and the risk of being given misleading or incomplete information.
Each product is a private, unregistered digital asset vehicle and is not subject to the same regulatory requirements as exchange-traded funds or mutual funds, including the requirement to provide certain periodic and standardized pricing and valuation information to members. There are substantial risks in purchasing our products or digital assets directly, including but not limited to:
1. Price Volatility
Digital assets have historically experienced significant intraday and long-term price swings. In addition, none of the products currently operates a redemption program and may halt creations from time to time or, in the case of AKA Blockchains, periodically.
There can be no assurance that the value of the common units of fractional undivided beneficial interest of any product will approximate the value of the digital assets held by such product and such Shares may trade at a substantial premium over or discount to the value of the digital assets held by such product.
At this time, none of the products is operating a redemption program and therefore shares are not redeemable by any product. Subject to receipt of regulatory approval from the Central Bank of Ireland and approval by AKA Blockchains, in its sole discretion, any product may in the future operate a redemption program. Because none of the products believes that the Central Bank of Ireland would, at this time, entertain an application for the waiver of rules needed to operate an ongoing redemption program, none of the products currently has any intention of seeking regulatory approval from the Central Bank of Ireland to operate an ongoing redemption program.
2. Market Adoption
It is possible that digital assets generally or any digital asset, in particular, will never be broadly adopted by either the retail or commercial marketplace, in which case, one or more digital assets may lose most, if not all, of their value.
3. Government Regulation
The regulatory framework of digital assets remains unclear and the application of existing regulations and/or future restrictions by the Central Bank of Ireland may have a significant impact on the value of digital assets.
4. Security
While each product has implemented security measures for the safe storage of its digital assets, there have been significant incidents of digital asset theft and digital assets remain a potential target for hackers. Digital assets that are lost or stolen cannot be replaced, as transactions are irrevocable.
5. Tax Treatment Of Digital Assets
For EU income tax purposes, AKA Blockchains does not provide Tax advisors nor pay taxes on behalf of the beneficial owners. AKA Blockchains products are available to individuals and companies. The profits and losses of a company entering into transactions involving digital assets would be reflected in accounts and taxable under normal CT rules.
Section 402(1) TCA 1997 defines a company’s functional currency and recognises that companies can prepare their accounts in a currency other than the Euro where that other currency is their functional currency. As digital assets are not a functional currency as defined, accounts, for tax purposes, cannot be prepared in digital assets: Euro or functional currency accounts must be prepared.
In accordance with the Taxation of digital asset transactions in Ireland 2020, please view the documents linked here. Tax Link
6. No Shareholder Control
AKA Blockchains has total authority over the products and shareholders’ rights are extremely limited.
7. Lack Of Liquidity And Transfer Restrictions
Digital assets in the ‘product’ will be illiquid and there will be significant restrictions on transferring interests in such a product. The products are not registered with the Central Bank of Ireland (CBI) or covered by the European Banking Authority (EBA), as amended.
8. Authorisation of Stock.
The Notice of Restrictions on Duties and Transfers.
The rights of Members in AKA Blockchains may differ materially from the rights of members in other limited liability companies. We may define, reduce, or eliminate fiduciary duties and may restrict the transfer of ownership interests, withdrawal or resignation from the stock, return of capital contributions, and dissolution of the limited liability company.
In addition, none of the products currently operates a redemption program. Due to the 48-month holding period and the lack of an ongoing redemption program, products should not be purchased by any member who is not willing and able to bear the risk of digital assets and lack of liquidity for at least 4 years.
No assurances are given that after the 48-month holding period, there will be any market for the resale of shares of any product, or if there is such a market, the price at which such shares may be sold into such a market.All opinions expressed do not reflect the opinions of AKA Blockchains. This is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to sell or buy, and should not be relied upon as a basis for digital asset decisions.
How can you contact us?
For all queries, you can contact us through email, by emailing hello@akablockchains.com. If you are enquiring about a specific order please include your reference ID in your email.
Zero Tolerance Policy
Detailed Terms of service
Introduction:
At AKA Blockchains, we enforce a strict Zero Tolerance Policy towards verbal or physical harassment in any form, affecting our employees, service users, the public, or any associated individuals.
Prohibited Behaviors:
Violations of this policy include, but are not limited to:
- Verbal Harassment: Use of derogatory, discriminatory, or offensive language related to gender, race, religion, age, sexual orientation, disability, or any other protected characteristic.
- Physical Harassment: Any form of physical intimidation, assault, or coercion.
- Threats: Statements implying or expressing intent to cause pain, injury, or other hostile actions.
- Aggressive Demands: Communications using intense pressure or coercion for specific actions or responses.
Defamation of Character:
We take the reputation of our company and all associated parties seriously. Spreading false information or engaging in slanderous or libelous behavior will not be tolerated. Identified individuals responsible for such actions will face immediate account termination without recourse. This measure is in place to preserve the trust and integrity vital to our community and operations.
Consequences:
Engaging in these behaviors may lead to the termination of your account. Please note, termination results in a total loss of access to both assets and services. While not our preferred route, this measure is critical for maintaining our service’s integrity and effectiveness. We encourage contacting us to amicably resolve disputes.
Service Subscription Details:
Your custody solutions service runs on a four-year term, starting December 2020 and ending in December 2024, with asset redemption beginning in January 2025.
Important Disclosures & Risks:
Under Irish regulations, digital assets are not recognized as legal tender and are associated with significant risks, including extreme volatility and a lack of regulatory protection. Our products are private, unregistered digital asset vehicles and are not subject to traditional regulatory frameworks.
Specific Risks Include:
- Price Volatility
- Market Adoption
- Regulatory Changes
- Security Risks
- Tax Treatment
Ownership and Liquidity Restrictions:
- AKA Blockchains holds full authority over product management with extremely limited shareholder rights.
- Our digital assets are illiquid with significant transfer restrictions and are not registered with the Central Bank of Ireland or under European Banking Authority oversight.
- There is no redemption program; members should be prepared to retain their investments for at least 48 months, with no guaranteed market for resale thereafter.
Member Responsibilities:
By using our site, purchasing our products, or engaging with our services in any capacity, you agree to abide by our Terms of Service. It is your responsibility to stay informed of the policies detailed in our Terms of Service and Terms and Conditions.
Zero Tolerance Policy
Introduction:
At AKA Blockchains , we maintain a strict Zero-Tolerance Policy towards verbal or physical harassment of any form, involving our employees, service users, the public, or any associated individuals.
Any form of aggressive demands or threats may lead to the termination of your account. While it’s not our preferred course of action, this policy is essential to preserve the integrity and effectiveness of our services.
Prohibited Behaviors
The following behaviors are considered violations of our Zero Tolerance Policy:
Verbal Harassment: Use of derogatory, discriminatory, or offensive language towards others. This includes, but is not limited to, comments related to gender, race, religion, age, sexual orientation, disability, or any other protected characteristic.
Physical Harassment: Any form of physical intimidation, assault, or coercion.
Threats: Any statement that implies or expresses an intention to cause pain, injury, or other hostile actions.
Aggressive Demands: Any form of communication that uses intense pressure or coercion to achieve specific actions or responses from others.
Account Termination and Asset Reacquisition:
Please note that the termination of an account does not equate to the reacquisition of your assets. Rather, it results in a total loss of access to both the assets and our services. We aim to resolve disputes amicably and encourage contacting us to address any issues.
Service Subscription Details:
Your custody solutions service is under a four-year subscription term, commencing in December 2020 and concluding in December 2024. Redemption of assets will be possible starting January 2025.
Important Disclosures & Risks:
In accordance with Irish regulations, digital assets are not recognized as legal tender and carry risks, including extreme volatility and a lack of regulatory protection. Our products, being private, unregistered digital asset vehicles, do not adhere to the regulatory requirements that govern publicly traded funds.
Specific Risks Include:
- Price Volatility
- Market Adoption
- Regulatory Changes
- Security Risks
- Tax Treatment
Ownership and Liquidity Restrictions:
- AKA Blockchains exercises full authority over product management and shareholder rights are significantly limited.
- Our digital assets are illiquid with strict restrictions on transferring interests. These are not registered with the Central Bank of Ireland nor under the oversight of the European Banking Authority.
- The products do not offer a redemption program, and members should be prepared to retain their investments for at least 48 months without expecting a market for resale.
Member Responsibilities:
By using our site, purchasing our products, or engaging with our services in any capacity, you agree to abide by our Terms of Service. It is your responsibility to stay informed about the policies detailed in our Terms of Service and Terms and Conditions.
