User Terms & Conditions

We may introduce further policies and procedures applicable to the Krypsm Platform and Services from time to time. When using the Krypsm Platform you must at all times comply with these User Terms and Conditions and all applicable policies.

Market Risk

Buying, selling and holding Virtual Digital Assets ("VDAs", defined below) involves a high degree of risk to your capital. VDAs are subject to frequent and significant fluctuations in value, and the value of a VDA may increase or decrease at any time. There is a substantial risk that you lose money buying, selling or holding VDAs, including through a Systematic Investment Plan (SIP). Before transacting through the Krypsm Platform you should take steps to understand the nature of VDAs and the risks involved, and should consult your own financial, legal or tax adviser regarding your specific situation. Transacting in VDAs may not be appropriate for all persons.

Regulatory Risk

Actual or potential regulatory actions, or enhanced regulatory scrutiny of VDA-based businesses, may adversely affect our business, including our ability to offer all or part of the Krypsm Platform or Services, and may adversely affect your ability to access, use or realise your Client Funds. Instances of security breaches and adverse regulatory changes may detrimentally affect the value of VDAs and your ability to hold or sell them. Transacting in VDAs may result in the total loss of your investment for these or other reasons not listed or foreseen by us. Please also refer to our Risk Disclosure.

Protocol and Network Risk

We do not own or control the underlying software protocols that govern the operation of VDAs. Such protocols may be open source and subject to the risks typically associated with open-source software. We assume no responsibility for the operation of the underlying protocols and do not guarantee the functionality or security of any network. You agree and understand that the protocols of different VDAs are subject to changes in operating rules (each a "Fork") which may result in more than one version of a network and may materially affect the value, function or name of the VDAs recorded in your Account. In the event of a Fork we may temporarily suspend Services in respect of the relevant VDA (with or without notice) and may determine, in our sole discretion, whether to support the resulting network. You accept these risks and agree that we are not liable for any loss of value arising from changes in operating rules.

No Advice

You acknowledge and agree that we are not a bank, financial institution, credit union, trust, hedge fund, or investment or financial adviser, and are generally not subject to the laws applicable to such persons. No oral or written information provided by us, our officers, directors, employees or agents, and no information obtained through the Krypsm Platform, constitutes investment or financial advice. You are solely responsible for all decisions to buy, sell or hold VDAs, including the setting up of any SIP Plan, and we will not be held responsible for those decisions.

You confirm that you have read and agreed to the Risk Disclosure. If you are uncomfortable with the associated level of risk, you should not transact in VDAs.

Limited Right to Use

Subject to these User Terms and Conditions, we grant you a limited, non-exclusive, non-sub-licensable, non-transferable right to access the Krypsm Platform solely for your personal or, in the case of a Sole Proprietor, own-business use, and solely as necessary to avail the Services. This right does not include any resale or commercial exploitation of the Krypsm Platform or its contents; any collection or use of its contents, products, services, tools or features; any derivative use; any downloading or copying of account information; or any use of data-mining, robots or similar data-gathering tools. No content on the Krypsm Platform (including copyrighted material, trademarks or other proprietary information) may be reproduced, copied, sold, resold, distributed or otherwise exploited for any commercial purpose without our express written consent. No implied licences are granted.

Content

Content on the Krypsm Platform is provided for general information purposes and is subject to change without notice. Neither we nor any third party warrants the accuracy, timeliness, performance, completeness or suitability of the information and materials found on the Krypsm Platform for any particular purpose. You acknowledge that such information may contain inaccuracies or errors, and we expressly exclude liability for them to the fullest extent permitted by law. Your use of any information on the Krypsm Platform is entirely at your own risk.

Interruptions

We do not represent or warrant that the Krypsm Platform and Services will always be available, uninterrupted or error-free. Transacting over the internet involves uncertain factors and complex hardware, software, systems and communication lines that are susceptible to interruption, and the Krypsm Platform may be unavailable at any time without notice. You agree that you shall have no claim against us on account of any suspension, interruption, non-availability or malfunction of our systems, on account of losses incurred due to volatility in VDA prices, or if the Services are unavailable at any time or for any period. We will not be liable for any loss or damage caused by a virus or other technological attack or harmful material that may infect your equipment, programs or data in connection with your use of the Krypsm Platform.

Getting Started & Onboarding Data

To avail the Services you must register an Account by providing your details, completing the KYC verification requirements under our KYC, AML/CFT & CPF Policy, and executing such undertakings, declarations and agreements as we require. Your Account will be activated only on successful completion of KYC verification, and you must maintain the Account for so long as you avail the Services. We are required to collect personal data to open your Account, as follows:

• (a) For an Individual — full name (as per PAN), mobile number (OTP-verified), e-mail address (OTP-verified), date of birth, gender, nationality, photograph, Permanent Account Number (PAN), one Officially Valid Document as proof of identity and address, bank account details (verified in your name), live selfie with liveness check, declaration of occupation and source of funds / source of wealth with supporting evidence where required, Politically Exposed Person (PEP) declaration, and any other document or information we may require.
• (b) For a Sole Proprietor — all of the information and documents listed at (a) above in respect of the proprietor, together with proof of the existence and activity of the proprietorship concern (such as GST registration certificate, Udyam registration, Shop and Establishment registration, or other document acceptable to us) and details of the bank account maintained in the name of the proprietorship or the proprietor.

You agree to provide the above information, or such other information as we may require to provide the Services, at the time of creating an Account or at any later stage. Providing your Aadhaar number is voluntary unless mandated under applicable law, and you may choose to provide an alternative Officially Valid Document. Please refer to our Privacy Policy for how the information we collect is used and shared.

One Account per User

You may open only one Account with us unless we agree otherwise in writing. Where duplicate Accounts are detected we may close, terminate or merge them at our sole discretion. A Sole Proprietor may not hold a separate personal Account in addition to the proprietorship Account without our written consent.

Who Can Open an Account?

Accounts may be opened only by: (a) an Individual who has attained the age of majority (at least 18 years of age), is competent to contract, and is resident in India (as defined under the Foreign Exchange Management Act, 1999 and the Income Tax Act, 1961); or (b) a Sole Proprietor, being an individual meeting the requirements at (a) above who carries on business as a sole proprietorship concern in India.

• We do not open Accounts for, and do not provide Services to, companies, limited liability partnerships, partnership firms, Hindu Undivided Families, trusts, societies, associations, non-profit organisations or any other legal entity or arrangement as on date. Any Account found to have been opened by or on behalf of such an entity will be terminated.
• We reserve the right to refuse access to any person who has been suspended, disqualified, debarred or removed by us or by any regulatory or statutory authority. If we change our eligibility criteria and you no longer comply with them, as determined by us in our sole discretion, you accept that we may close your Account without liability. You are solely responsible for ensuring your compliance with all laws applicable to you. Only the Account holder may operate the Account; if the Account is found to be operated by any third party, we may immediately deactivate it.

Restricted Jurisdictions

You are not eligible to register, open or maintain an Account, or otherwise permitted to access the Krypsm Platform, if you are not resident in India or are otherwise (by reason of nationality, domicile, citizenship, residence or otherwise) associated with any Restricted Jurisdiction. If at any time we determine that you are accessing the Krypsm Platform from a Restricted Jurisdiction or have made false representations as to your location or residence, we may forthwith restrict or terminate your Account and sell any VDA holdings at your cost and consequence.

Accurate Information

All information (including personal and sensitive personal data) you provide to us must be complete, accurate, up to date, truthful and not misleading, and you must promptly update it whenever it changes. We are not responsible for any loss arising from your failure to do so. We may at any time ask you to confirm the accuracy of your information or provide additional supporting documents.

Suspension, Deactivation and Termination

Your continued access to the Krypsm Platform depends on fulfilment of the KYC verification requirements under our KYC, AML/CFT & CPF Policy from time to time. If you provide any information that is, or becomes, untrue, inaccurate, ambiguous, not current or incomplete, or if we have reasonable grounds to suspect so, we may suspend, deactivate, restrict or terminate your Account and refuse any current or future use of the Krypsm Platform at our sole discretion, in addition to any other right we have at law or in equity. We may disable your access to your Account at any time if, in our reasonable opinion, you have failed to comply with any provision of these User Terms and Conditions or the Additional Policies. We reserve sole discretion to open an Account and may refuse to open an Account for any person.

Updating Contact Details

You may update your registered e-mail address or mobile number by writing to us at [email protected] from your registered e-mail address. This is restricted to three (3) attempts. Our support team will request the documentation required for the update, and you agree to complete video KYC and any additional steps we require to maintain the security of the Services.

Withdrawal After Funding Rule

Where INR is deposited into your Account and a withdrawal request is subsequently raised without any Buy or Sell activity, we reserve the right to temporarily hold the withdrawal. At least one Buy or Sell transaction must have been executed by you to qualify for withdrawal of INR to your bank account. This control exists to prevent the Krypsm Platform being used as a means of transferring funds.

7.1 INR Deposits and Withdrawals

• INR may be deposited/withdrawn only from a bank account held in your own name (or, for a Sole Proprietor, in the name of the proprietorship or the proprietor) that has been verified by us. Deposits from any third-party account, and cash deposits, are not accepted and will be returned or held pending review.
• We may impose minimum and maximum deposit and withdrawal limits, and may vary them from time to time.

7.2 Buy and Sell Orders

• You may place a Buy Order to purchase a supported VDA against the INR balance in your Account, or a Sell Order to sell a VDA recorded in your Account Balance for INR.

7.3 Systematic Investment Plan (SIP)

• A SIP Plan allows you to purchase a selected VDA for a fixed INR amount automatically at a weekly or monthly frequency on the date(s) you select, for so long as the SIP Plan remains active.

7.4 Fees and Taxes

• A Transaction Fee is payable on each Buy and Sell Order (including each SIP instalment) as set out in the Fee Schedule published on the Krypsm Platform, which we may amend from time to time. Fees are exclusive of applicable Goods and Services Tax, which is charged separately.
• Tax Deducted at Source under Section 194S of the Income Tax Act, 1961 (currently 1%) is deducted on every Sell Order at the applicable rate and deposited with the tax authorities on your behalf. We will provide evidence of such deduction as required by law; you are responsible for claiming any credit, refund or exemption from the tax authorities.
• You are solely responsible for determining, reporting and paying any tax liability arising from your transactions on the Krypsm Platform, including tax on income from the transfer of VDAs under Section 115BBH of the Income Tax Act, 1961.

What to Do

You must keep your Account secure and take all steps to ensure there is no unauthorised access to it. You must change your password regularly, must not reuse it across other online accounts, and must follow recommended password-management practices. You must set up two-step or multi-factor authentication when prompted.

What Not to Do

You must not let anyone else access your Account or observe you accessing it. You must not use any functionality that allows your login details or passwords to be stored, cached or otherwise recorded by the computer or browser you use.

Transacting on Your Own Account

All activity under your Account is deemed to be carried out or authorised by you. You shall use your Account only to transact on your own account (or, for a Sole Proprietor, for the proprietorship concern) and not on behalf of any other person. We disclaim any liability arising from transactions not conducted by you. If you know or suspect that anyone else has access to your Account, you must promptly notify us at [email protected]. We are not liable for any loss arising from unauthorized use of your Account.

Undertakings, Representations and Warranties

By accessing the Krypsm Platform, or by registering, opening and maintaining an Account, you represent, warrant and undertake that:

• You are at least 18 (eighteen) years of age and competent to contract;
• If you open an Account as a Sole Proprietor, you are the sole owner of the proprietorship concern, it is validly carried on in India, and you are eligible and authorised to enter into these User Terms and Conditions on its behalf;
• You are not barred by applicable law from entering into these User Terms and Conditions or from transacting on the Krypsm Platform;
• You have full authority and capacity to open and maintain the Account and to perform your obligations hereunder;
• You are resident in India (as defined under the Foreign Exchange Management Act, 1999 and the Income Tax Act, 1961);
• You are not (by reason of nationality, domicile, citizenship, residence or otherwise) associated with any Restricted Jurisdiction;
• You have not been adjudged bankrupt or insolvent;
• All information provided by you to us is true, accurate, complete and up to date;
• You do not have an existing Account and will not register for more than one Account unless permitted by us;
• You are registering an Account only for yourself (or your own proprietorship concern), and not on behalf of any third party;
• These User Terms and Conditions and any transactions entered into hereunder create valid and binding obligations enforceable against you, and do not violate any law, regulation, order, agreement or instrument by which you are bound;
• You have not previously been barred from using the Services or had an Account terminated for breach of these User Terms and Conditions;
• You are not in breach of, and will not breach, any applicable law, including the AML Regulations, the Foreign Exchange Management Act, 1999 and the Income Tax Act, 1961;
• All INR deposited into your Account originates from a bank account held in your own name (or your proprietorship’s name) and represents funds legitimately owned by you;
• You are not on any trade or economic sanctions list, including lists issued by the United Nations Security Council, the Government of India under the Unlawful Activities (Prevention) Act, 1967, the US Office of Foreign Assets Control, the US Department of State, the European Union, or HM Treasury;
• You have consistent access to the internet and to the e-mail address and mobile number provided to us;
• You are aware of the financial and other risks involved in buying, selling and holding VDAs, have assessed your financial standing and risk tolerance, and are willing and financially able to assume those risks; and
• You are solely responsible for determining and discharging your tax liability in relation to your transactions in VDAs.

Platform Role & As-Is Warranty Disclaimer

The Company is neither the creator nor the administrator of any VDA and is not responsible for the volatility of, or other factors affecting the price of, any VDA, the operation of any blockchain, or the mining or validation process of any VDA. The Company has no control over the generation, distribution, verification or market volatility of any VDA.

The Company provides no warranty or guarantee of any kind, express or implied, in relation to the Services, which are provided on an "as is" and "as available" basis. You avail of the Services and transact in VDAs at your own risk and with full awareness of the possible diminution, devaluation or complete loss of the value of your Account Balance on the occurrence of any of the risk factors described in these User Terms and Conditions or otherwise inherent in VDAs, including changes in the regulatory or legal regime and any legal, regulatory or contractual restriction placed on us, the Krypsm Platform or our Execution and Custody Partner. You expressly acknowledge that your use of the Services and the Krypsm Platform is at your sole risk.

The Services are strictly available for use only within India, and only to the extent and for so long as transactions in VDAs are permitted there. Any use of the Services from a Restricted Jurisdiction ("Restricted Jurisdiction Use") is a breach of these User Terms and Conditions, and we shall be entitled to forthwith terminate the Account, extend all cooperation to governmental and enforcement authorities, and bear no liability for any loss arising from such use. You are solely responsible for compliance with applicable law while using the Services, and are cautioned that the regulatory and tax regime for VDAs in India may change and may contain ambiguities.

Availability & System Security

We make no warranty that the Services or the Krypsm Platform will be uninterrupted, timely, accurate or reliable, nor as to the permanent availability of any information stored or transferred through them. We undertake reasonable efforts to ensure that the Krypsm Platform does not host or transmit any software virus or other code designed to interrupt, destroy or limit the functionality of any computer resource; however, any material or data downloaded through the Services is obtained at your own discretion and risk, and you are solely responsible for any resulting damage to your device or loss of data.

Third-Party Services

We may enable or assist you to access or interact with services from supported platforms and other third parties, including our Execution and Custody Partner, KYC and payment service providers ("Third-Party Services"). Such Third-Party Services are not under our control; we do not review, approve, monitor, endorse or warrant them and are not responsible for them. Your use of Third-Party Services is at your own risk and is governed solely by their terms. If any Third-Party Service ceases to be available to us on reasonable terms we may cease to provide the related features without refund, credit or compensation.

Prohibited Use

We do not allow any activity or content on the Krypsm Platform that:

• Belongs to another person and to which you have no right;
• Is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, paedophilic, libellous, invasive of another’s privacy, hateful, racially or ethnically objectionable, disparaging, relating to or encouraging money laundering or gambling, or otherwise unlawful;
• Harms children or minors in any way;
• Infringes any intellectual property or proprietary rights;
• Violates any law for the time being in force;
• Deceives or misleads any person about the origin of a message, or knowingly communicates misinformation or information that is patently false, untrue or misleading, or is identified as such by a duly notified fact-check unit of the Central Government;
• Is grossly offensive or menacing in nature, or impersonates another person;
• Contains any software virus or other malicious code designed to harm, interrupt or limit the functionality of any computer resource;
• Threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states or public order, incites the commission of any cognisable offence, prevents the investigation of any offence, or is insulting to any other nation;
• Interferes with other Users’ enjoyment of the Services, or exploits the Krypsm Platform for any unauthorised commercial purpose;
• Is aimed at modifying, adapting, translating, disassembling, reverse-engineering, reformatting or framing any portion of the Krypsm Platform;
• Is aimed at probing, scanning or testing the vulnerability of any system, security or authentication measure implemented by us, or at gaining unauthorised access to, interfering with, or damaging any server, computer or database used by us;
• Is antisocial, disruptive or destructive, including "flaming", "spamming", "flooding", "trolling", "phishing" or "griefing";
• Involves using any spider, site-search or retrieval application or other device to retrieve or index any portion of the Krypsm Platform or to collect information about its Users;
• Involves accessing the Krypsm Platform to create a product or service that competes with ours and involves creating Accounts by automated means or under false or fraudulent pretences;
• Is in the nature of, or advertises or promotes, an online game or online-gaming intermediary, or involves distribution of unsolicited marketing;
• Involves malicious trading, market abuse, market manipulation, insider trading, structuring of transactions, or the use of the Krypsm Platform to transfer value on behalf of any other person;
• Involves the proceeds of any illegal activity or any activity in breach of these User Terms and Conditions or the Additional Policies;
• Is aimed at circumventing or bypassing any restriction placed by us; or is false, incorrect, inaccurate or fraudulent.

Disputes with Other Users & Release

If you have a dispute with one or more Users of the Krypsm Platform, you agree that neither we nor our affiliates or service providers, nor any of their respective officers, directors, members, shareholders, agents, joint venturers, employees or representatives (the "Krypsm Parties") will be liable for any claims, demands, damages (actual or consequential), losses, costs or expenses, including litigation costs and attorneys’ fees ("Losses"), arising out of or relating to such dispute. To the maximum extent permitted by applicable law, you release and waive all claims against the Krypsm Parties for Losses arising from or in any way related to your use of the Krypsm Platform or the Services.

Limitation of Liability

Subject to applicable law, in no event will the Krypsm Parties be liable for any remote, indirect, incidental, special, punitive, consequential or similar Losses arising out of the use of the Krypsm Platform or Services, any performance or non-performance of the Services, or any product or service provided by or on behalf of the Krypsm Parties, whether under contract, statute, strict liability or any other theory, even if advised of their possibility. This includes, without limitation, Losses arising out of or in relation to:

• Discontinuation or disruption of any blockchain underlying a VDA offered through the Krypsm Platform;
• Disruption of the Services, including where you are unable to access your Account or place an order;
• Any loss of VDAs recorded to your Account Balance arising from the acts, omissions, insolvency or failure of our Execution and Custody Partner, save where such loss results directly from our own wilful and malicious act or omission;
• Any discontinuation, alteration, suspension or termination of any Service, including the SIP facility or the availability of any VDA, due to change in our business plans, Force Majeure, or change in applicable law;
• Buying, selling or holding VDAs, including fluctuations in VDA prices, any loss of profit or expected gain, and any actual or hypothetical trading loss;
• Suspension, cancellation or termination of an Account, including on account of your violation of these User Terms and Conditions or applicable law;
• Seizure or freezing of your Client Funds by a governmental, regulatory or judicial authority;
• Damage to reputation or goodwill, loss of business, opportunity, customers or contracts, wasted overheads or management time, or any other loss of revenue or anticipated savings; or
• Breach of these User Terms and Conditions by us where the breach is due to circumstances beyond our control or to changes in law.

Liability Cap & Exclusive Remedy

Notwithstanding anything in these User Terms and Conditions, to the maximum extent permitted by law the maximum cumulative liability of the Krypsm Parties arising out of the use of the Krypsm Platform or Services shall be limited to the Transaction Fees actually received from you in relation to the transaction to which the claim relates or, where the claim does not relate to a specific transaction, the Transaction Fees received from you in relation to the two (2) transactions immediately preceding the date of the claim.

Your sole remedy for any suspension, cancellation or termination of your Account, or for cessation of any Service, is the return of your Client Funds in accordance with Section 17, subject to deduction of amounts owed to us and any legal, regulatory or statutory dues, and to the permissibility of such return under applicable law.

Relationship of the Parties

For all purposes, including the execution of any order initiated by you through the Krypsm Platform, you and the Company act independently and not as partners, joint venturers, agents, or in any fiduciary capacity. You have no authority to assume or create any obligation on behalf of the Company and shall not attempt to bind us to any contract.

Taxes

It is your sole responsibility to determine, report and pay all taxes applicable to the payments you make or receive in connection with the Services to the appropriate authority. Save for the Tax Deducted at Source described in Section 7.4, we are not responsible for determining whether any tax applies to your transactions or for collecting, reporting or remitting any such tax. All Transaction Fees and other charges are exclusive of Goods and Services Tax, which shall be borne by you and separately charged; should any further GST become applicable in future we reserve the right to charge it separately. You authorise us to withhold any applicable tax and deposit it on your behalf in accordance with law; where we do so, we will provide evidence of withholding as required, and you are solely responsible for claiming any credit, refund or exemption.

Assignment

You may not assign any rights or licences granted under these User Terms and Conditions without our express prior written consent. We may assign our rights without restriction, including to any affiliate, subsidiary or successor in interest of any business associated with the Krypsm Platform. Any attempted assignment in violation of this clause is null and void. Subject to the foregoing, these User Terms and Conditions bind and inure to the benefit of the parties, their successors and permitted assigns.

Severability

If any provision of these User Terms and Conditions is determined to be invalid or unenforceable under any law, rule or regulation, that provision will be interpreted to accomplish its objectives to the greatest extent permitted by law, and the validity and enforceability of the remaining provisions shall not be affected.

Change of Control

If the Krypsm Platform is acquired by or merged with a third party, we reserve the right to transfer or assign the information we have collected from you as part of such merger, acquisition, sale or other change of control, subject to our Privacy Policy and applicable law.

Rewards

We reserve the right to revoke any sign-up bonus, reward or referral benefit at any time and to terminate any rewards or referral programme altogether.

Survival

All provisions of these User Terms and Conditions which by their nature extend beyond termination, including those relating to suspension or termination, Account closure, amounts owed to the Company, limitation of liability, indemnification, disputes and general provisions, shall survive termination.

Termination by Us

We may suspend your access to any or all of the Services, and/or terminate your Account, with immediate effect where we determine, in our sole discretion, that you are in breach of these User Terms and Conditions or any applicable law. You acknowledge that our decision to suspend or terminate an Account may be based on confidential criteria and that we are under no obligation to disclose the details of that decision.

Termination by You

You may terminate your Account at any time by writing to us at [email protected] from your registered e-mail address. Any active SIP Plan will be cancelled and any pending order will be cancelled on termination.

Settlement of Your Account

You must pay any outstanding amount owed to us before your Account is terminated. Because VDAs cannot be withdrawn from the Krypsm Platform, before termination you must sell all VDA holdings recorded to your Account Balance and raise a withdrawal request for the resulting INR balance. If you fail to do so within seven (7) days of notice of termination, you authorise us to sell your VDA holdings at the prevailing price on the Krypsm Platform and to remit the resulting INR balance, less any amounts owed to us, to your verified bank account.

Effect of Termination & Statutory Retention

We reserve the right to retain and use the transaction data and other information relating to an Account after termination in the manner specified in our AML Policy and Privacy Policy, including for the minimum retention period required under the AML Regulations. On termination, all charges and liabilities owed to us become immediately due and payable. Upon payment of all outstanding charges, you will be entitled to withdraw the INR balance of your Account within seven (7) days of termination, unless such withdrawal is prohibited under applicable law (including applicable sanctions programmes), is restrained by a valid court or regulatory order, or is withheld as necessary for compliance with applicable law in our discretion.

Please provide all necessary and relevant information and documents concerning your grievance. We will acknowledge your complaint within twenty-four (24) hours of receipt and will undertake reasonable, fair and appropriate efforts to investigate and resolve it within fifteen (15) days of receipt, or such other period as may be prescribed under applicable law. Grievances relating to the freezing or restriction of an Account under the AML Regulations will be handled in accordance with those regulations, and we may be restricted by law from disclosing the reasons for such action.