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Legal

Terms and Conditions

Last updated: June 2026

1. General provisions

  1. 1.1At the Kunga group we are committed to informing you of the terms and conditions (T&C) that govern the relationship you will have with the Kunga group. By clicking accept, or by accessing, registering or using our services, whether through the website www.kunga.eu, the API, mobile applications or any associated service, you agree to be bound by these terms and conditions.
  2. 1.2These T&C shall govern the dealings between you (the "User") and the service provider, through your use of the platform www.kunga.eu (the "Platform").
  3. 1.3If the User does not find the T&C acceptable, the User must refrain from accessing and/or using the Platform and must immediately discontinue the use of the Services. Any person who does not accept the T&C, which are mandatory and binding in nature, must refrain from using the Services. The User must read, understand and accept all the conditions established in the T&C. Failure by the user to read, understand and fully accept these terms means that the user does not consent to them and, consequently, that no contract shall come into existence between the user, the service provider and the Kunga group.
  4. 1.4The Platform contains links to the system for accessing payment methods, the exchange of crypto assets and/or other virtual assets (the "System") operated by the service provider, directly or through a third party legally constituted in a regulated market, which, in turn, links the platform to KUNGA as a provider of payment processing and fiat money collection services.
  5. 1.5The User's relationship with the service provider through the Platform is entirely unrelated to KUNGA, which is neither the owner nor the operator of, nor has control over, such sites and/or applications, and therefore disclaims any liability for the contents, materials, actions and/or services provided therein, as well as any type of damages and/or losses caused by their use including, but not limited to, direct and/or indirect damages, loss of profits, and/or loss of opportunity resulting from the use and/or inability to use the System, even if KUNGA had been advised of the possibility of such damages occurring. The presence of links to the System and/or to other websites does not imply partnership, relationship, approval, sponsorship, support and/or endorsement by KUNGA of such sites and their contents.
  6. 1.6The foregoing is without prejudice to the liability that KUNGA may have, through its local operators, in the functions that fall within its competence and the collection and payment processing service it provides.
  7. 1.7The use of and access to the Services is not permitted by persons or from jurisdictions in respect of which regulations are in force pursuant to which there are insurmountable prohibitions on using the Services. Likewise, the service provider may restrict, in whole or in part, the use of the Services whenever it deems appropriate and reserves the right to cease providing services to the User, without prior notice, without cause and without compensation.
  8. 1.8The service provider reserves the right to modify these Terms of Use at any time.
  9. 1.9The service provider undertakes to make reasonable efforts to inform users of changes to the terms of use through the means it deems appropriate, but it is ultimately the User's responsibility to periodically review the Site's Terms of Use.
  10. 1.10Once changes to the terms of use have been made, if the user continues to use and access the site, it means that the user accepts said changes.

2. Definitions

  1. 2.1Digital Asset: means any digital asset or currency used on the Platform.
  2. 2.2Application and/or Applications: any IT means of accessing the Platform.
  3. 2.3Wallet: virtual account opened on the Platform that reflects the data on the balance of Funds and on the collections and payments made by the User, as well as any other data relevant to the User.
  4. 2.4KUNGA: refers to the group of companies that have been mandated for the collection of deposits and the processing of transactions.
  5. 2.5KUNGA INVERSIONES 2022 SL: a legal entity domiciled in Spain that is mandated by the service provider to process and collect deposits and execute withdrawals instructed by clients operating from or in Spain. It is a company duly incorporated in Spain.
  6. 2.6Kunga Estonia OÜ: a legal entity domiciled in Estonia that is mandated by the service provider to process and collect deposits and execute withdrawals instructed by clients operating from or in Estonia.
  7. 2.7KungaPay LLC: a legal entity domiciled in the United States of America that is mandated by the service provider to process and collect deposits and execute withdrawals instructed by clients operating from or in the United States of America.
  8. 2.8The service provider: any legal entity that owns the platform and that, directly or through a third party, carries out all purchase and sale operations of virtual currency and that is responsible for the custody of digital assets vis-à-vis the user.
  9. 2.9Financial Institution: those entities covered by the Financial Institutions Act in each applicable country in which the service provider has commenced its operations.
  10. 2.10Funds: those Funds reflected in the User's Wallet and accounted for by the Provider in accordance with applicable regulations.
  11. 2.11Platform: IT system owned by the service provider that records and reflects the balance and the movements of the Users' Funds, which can be accessed through proprietary or third-party Applications.
  12. 2.12Services: the services provided by the administrator directly or through the companies belonging to Kunga, or through various other companies.
  13. 2.13Fees: the fees and/or costs to which the Services shall be subject.
  14. 2.14User: indistinctly, the clients and beneficiaries of the Services, including without limitation: (i) registered users, (ii) as well as anyone who visits and/or occasionally uses the Platform, regardless of the verification level of their account.
  15. 2.15KungaPay: refers to the group of companies that have been mandated for the collection of deposits and the processing of transactions.

3. Services

  1. 3.1The service provider securely and simply provides the exchange of digital assets for local currency or other digital assets through a marketplace or online platform.
  2. 3.2The marketplace allows registered users to carry out operations involving the observation, purchase, sale and exchange of digital assets, such as ETH, XLM, EOS, BTC, among others.
  3. 3.3The service provider reserves the right to reject, cancel, suspend or deny transactions carried out through external platforms that do not comply with applicable local regulations.
  4. 3.4Funds credited through KungaPay do not accrue interest. Neither KungaPay nor the service provider is a credit institution, or any other activity regulated by the laws applicable to money lending operations under the legislation in force in each respective country.
  5. 3.5The User understands and accepts that the Platform allows the User to send and receive electronic money and/or fiat money (the "Funds"), as well as to convert one digital asset into another.
  6. 3.6The T&C and their electronic or computer-based acceptance constitute a valid and legally binding commitment between the User and the Provider. The User acknowledges that the acceptance of these T&C has the same legal effect as if the User had affixed a physical or digital signature to an agreement of wills, and accepts that consent will be collected electronically for all applicable legal purposes.
  7. 3.7The User must review these T&C each time they access the Platform, as they are mandatory and binding.

4. The Platform

  1. 4.1The service is provided through an exchange or web platform that allows registered users to trade digital assets, whether by means of a national currency or through other digital assets available on the platform.
  2. 4.2The platform and digital asset custody services are provided by the service provider, who is entitled to outsource part or all of this service, without prejudice to being liable to the User.
  3. 4.3The custody services for fiduciary assets are provided by local financial institutions according to the currency used.
  4. 4.4The service provider's Services are intended to be a means for Users to personally and independently credit funds to their account and to carry out purchase and sale activities of digital assets, collecting or paying Funds or other currencies.
  5. 4.5Transactions that the User carries out with their Funds shall be deemed executed, and therefore effective, when they have been confirmed by the service provider and not when they have been initiated or ordered, and they are irreversible once executed.
  6. 4.6The service provider, by way of example only, reserves the right to cancel, reverse, settle, void, terminate, suspend and/or dismiss any transaction carried out by the User with their Funds. Likewise, it shall inform the User of the reasons why it has proceeded in such manner at the email address registered by the User.
  7. 4.7The User acknowledges and assumes any risk, cost, loss and/or liability incurred by the service provider, or KungaPay, including legal fees, arising from, relating to and/or in any way connected with the improper use of the Services by the User.
  8. 4.8The service provider shall be able to refund the User, upon request, the amount equivalent to the Funds held in their Wallet, provided that they have not been delivered and/or transferred to a beneficiary and/or recipient and/or third party, or are associated with an order pending execution that reserves funds, in accordance with the T&C and the User's instructions.
  9. 4.9The operation of the Platform may be partially or totally restricted at any time, whether in a scheduled or sudden manner, which could eventually result in the non-execution of pending operations. The User accepts that neither the service provider nor KungaPay is or shall be liable, under any circumstances and in no event, for the damages and/or losses that may be caused to the User as a result of the foregoing, and undertakes to hold the service provider and KungaPay harmless from any claim, cost, expense, loss and/or liability, including legal fees, that they may incur, arising from the non-execution of those operations.
  10. 4.10The service provider reserves the right to reverse any operation carried out as a consequence of a service interruption or a malfunction in electronic communications, commercial facilities, storage facilities, recording mechanisms or other components of the Services. In these circumstances, operations shall be reviewed on a case-by-case basis, and the service provider may give notice through the email address provided by the User.
  11. 4.11Losses arising from fraudulent and/or accidental transactions may be unrecoverable and, additionally, once they have been confirmed, the User shall be obliged to honor them. The User understands and accepts that neither the service provider nor KungaPay bears any liability with respect to all those operations carried out by the User that are fraudulent and/or accidental and/or that are the product, consequence and/or are in any way connected with the User's negligence in safeguarding their passwords or access keys.
  12. 4.12The service provider reserves the right to suspend, cancel or not execute orders that are suspected of breaching these T&C, or of involving any type of unlawful act. When the User carries out an operation and/or transaction, the service provider may withhold the fee corresponding to the Services, so that the funds are available to be able to complete the operation. As a consequence, the User accepts, acknowledges and affirms that neither the service provider nor KungaPay shall be liable for events or occurrences that restrict or render impossible the free availability of the User's funds. Nor shall they be liable for force majeure or for any other cause of impossibility of complying with these T&C that is not attributable to them. Likewise, the user accepts that, should the circumstances described above arise, the service provider may charge the agreed commissions on the agreed terms, even when the operation cannot be carried out due to the user's responsibility.
  13. 4.13In no case shall the service provider or KungaPay be liable for the misuse of the authentication methods or data protection used by the User. Nor shall they be liable for phishing, spear phishing, identity theft, cyberattacks and/or any type of attack of which the User is a victim.
  14. 4.14The service provider and KungaPay shall not be liable for failures and/or errors in the operation of the device, the operating system and/or software used by the User to access the Platform and the Services, nor for those related to and/or caused by third-party providers of internet access, telephony and/or any other service provided by persons other than the service provider and KungaPay.
  15. 4.15Internet transmission risks: the client understands that there are risks associated with the use of services provided through an internet-based platform, and any of the following situations may occur, this list being non-exhaustive: hardware, software, and internet connection failures. The client also acknowledges that the service operator shall not be liable for communication failures, service interruptions, errors, distortions and delays in transactions when operations are carried out, regardless of the cause of such problem.
  16. 4.16The service provider reserves the right, in any case and without any communication and/or explanation, to prohibit access to its Applications and/or Services to any person, including the User's access, any account and the Wallet. The User and/or password recovery process shall only be carried out through the steps unilaterally established for that purpose by the service provider. This process must always be initiated at the User's request and never by the service provider. Under no circumstances shall the service provider ask the User, by postal mail, email or by telephone, to disclose the Passwords and/or Secrets that the User uses to access the Platform.
  17. 4.17The User acknowledges and agrees that neither the service provider nor KungaPay is liable for any event or circumstance affecting any of the institutions in which the User's Funds are held.
  18. 4.18Operations with the Funds may be subject to delays, setbacks and/or conditions that may affect their transmission or execution. The service provider has no control over potential failures in hardware, software, electronics or over possible market congestion, and therefore the User acknowledges and accepts that, in such cases, the service provider shall not be liable for delays, difficulties or conditions that adversely affect the transmission or execution of orders.
  19. 4.19Likewise, the service provider may require the User to confirm an instruction by telephone or by any other authentication method designated for that purpose. All Funds are operated by and between the Users, and therefore belong to them, and the service provider merely provides the Applications to facilitate the operation.
  20. 4.20All exclusions and limitations of liability established in these terms and conditions in favor of the service provider are extended to KungaPay, in its capacity as mere agent for collecting and processing the User's deposits and withdrawals.

5. The User

  1. 5.1Registration on the platform: in order to use all the functionalities of the platform, users are required to provide truthful and up-to-date information at registration on the platform at each of the information verification stages.
  2. 5.2Information Verification: for the sole purpose of validating the information submitted by the User, authenticity verification is authorized through third parties specialized in the matter.
  3. 5.3The service provider, at its sole discretion, may suspend, reject, or remove from its register of active users those who breach the site's rules and these T&C. Thus, this clause is understood to include the possibility of rejecting the registration of a user when the service provider has grounds to establish that the user is not able to fully read and understand these T&C.
  4. 5.4The documentation submitted shall be subject to verification through the platform. The requirements for each item of documentation shall depend on the transaction amount that the user wishes to carry out. The service provider shall determine, at its own discretion, the amount, denomination and related requirements.
  5. 5.5Additionally, the service provider may request information that it deems relevant or necessary for the use of the platform's functionalities.
  6. 5.6Failure to comply with any request for information shall result in the suspension of the account and its closure.
  7. 5.7The service provider provides multiple security systems through the platform. It is the exclusive responsibility of users to make proper use of them.
  8. 5.8The user account is personal, unique and non-transferable.
  9. 5.9The user declares that the information provided is accurate and it shall be the user's responsibility to keep it up to date.
  10. 5.10The provision, sale, assignment or transfer of personal accounts to third parties is prohibited.
  11. 5.11Enabling any type of use of the personal account by third parties is prohibited. The unauthorized use of Accounts other than one's own shall result, at the discretion of the service provider, in the immediate suspension or closure of all the Accounts involved, as well as of any purchase and/or sale orders pending execution.
  12. 5.12Any attempt to do the foregoing or to assist third parties (whether Registered Users or not) in the unauthorized use of Accounts, whether by distributing instructions to that effect, software or tools for such purpose, shall result, at the discretion of the service provider, in the immediate closure of the respective Accounts.
  13. 5.13The closure or termination of the Accounts is not the only action that the service provider may take as a consequence of the contravention or violation of the foregoing, as well as of other sections of the Terms of Use, and therefore the service provider reserves the right to take any other action against the persons involved.
  14. 5.14Likewise, the service provider reserves the right to reject registration requests to the platform or to cancel a previously accepted one without prior notice and without giving rise to any right to indemnification or compensation for the user.
  15. 5.15Any contravention of these Terms and Conditions may give rise to indemnification in favor of the service provider with respect to the damages that it causes.
  16. 5.16The user expressly declares that they shall not use the platform or any service provided by the service provider for carrying out illegal or criminal activities of any kind.
  17. 5.17The service provider receives and makes transfers exclusively through financial transfer in accordance with the banking conventions of each respective country. This expressly excludes checks, cashier's checks, promissory notes or any other document or banking instrument representing money. Deposits may not be credited, nor withdrawals approved, to third-party accounts other than those defined by each user on the Platform.
  18. 5.18The service provider shall proceed with the return of deposits that have not been credited as a result of the depositor's availability, less the applicable transfer fees, except for the commissions payable for the services rendered, since the cause for the return of the deposits is not the provider's responsibility; in both cases, the amounts deducted shall depend on the country and the service concerned.
  19. 5.19The service provider shall not make any return to accounts whose holder does not match the holder of the account on the Platform.
  20. 5.20In order to register as a User and use these Services, the User must be of the age of majority required by the applicable legal system and/or have the legal capacity necessary to bind themselves and accept these T&C. Minors may not use the services that the service provider provides through the application, and therefore any application to register as a minor shall be denied.
  21. 5.21The User acknowledges that there are various technological and cyber risks, including fraud, inherent in the use of electronic or digital means, as well as regulatory risks, including those relating to enforceable duties and/or obligations, for which the service provider shall in no case be liable.
  22. 5.22It is the User's responsibility to enable the two-step authentication method. The messages and/or instructions that the User issues or communicates after their authentication shall be deemed valid for all applicable purposes and as issued through devices that are secure and approved by the User, as well as received in full and without alterations on the service provider's servers.
  23. 5.23It is the User's responsibility not to share or provide their identification data, credentials and access passwords to third parties, as well as to ensure that they enter their data or credentials at the official web address of the Platform. Access to the service provider's official Applications and sites is the User's exclusive responsibility, and the service provider shall under no circumstances be liable for the security of the connection from which the User accesses.
  24. 5.24As a result of the foregoing, it is the User's responsibility to notify the service provider if they believe or suspect that their User data, Wallet or their credentials may be compromised, or that a third party is acting on their behalf. In addition, the User undertakes to take all necessary or appropriate measures requested by the service provider, as well as to follow the procedures established by the latter to regain control of their User, under penalty of losing it permanently.
  25. 5.25The User accepts that the service provider shall use, as the means of contact and notification, the email address with which they registered when opening their Account, and also accepts as valid all those notifications, communications and/or summons by electronic means made to said email address in accordance with the law of each country, whether for the formation of agreements of wills or for the mere sending of notifications.
  26. 5.26The service provider shall at no time request confidential or secret data from the User by email or by any means other than the secure site identified with the https prefix. The User must keep their email address up to date and notify the service provider of any change to it. All communications sent by the service provider to the email address registered by the User shall be deemed valid regardless of their actual receipt.
  27. 5.27The User acknowledges that all of their decisions are made solely and exclusively in their own name and on their own account and without the involvement or advice of any third party.
  28. 5.28The service provider does not validate information regarding third-party users on the platform; it is the sole and exclusive responsibility of the user to provide the data for each operation.
  29. 5.29The good use, management and/or custody of signatures, private keys, access keys, passwords and any other data necessary to access the Accounts and/or the Wallets (hereinafter "Secrets" and/or "Passwords" indistinctly) are the exclusive responsibility of the User. The service provider shall not be liable for the lack of diligence, negligence and/or carelessness incurred by the User in the control, care, custody and/or management of the Passwords. Nor shall the service provider be liable for any of the consequences, whether immediate, mediate and/or incidental, that the mismanagement and/or custody of the Secrets may generate. By way of example only, these consequences may entail the total and absolute loss of the funds and/or the Secrets.

6. Movements and funds on the Platform

  1. 6.1The service provider keeps a record of accounts on transactional movements that allows the User's payments and collections to be identified, along with the balances of Funds in the Users' accounts, which shall be available at all times.
  2. 6.2The User may at any time download a transaction receipt recording each of the operations carried out. The service provider reserves the right to adjust, correct or reconcile its records and movement history when necessary, which the User acknowledges and accepts, being obliged to pay any balance owed by them.
  3. 6.3In the event of an error, the User shall have 30 calendar days to bring it to the attention of the service provider; after this period it shall be understood that the User acknowledges and accepts the history of their account, without being able to initiate a claim at a subsequent date.
  4. 6.4Likewise, the User may download the tax receipt for the fees associated with the operations they carry out on the platform.
  5. 6.5The service provider shall at no time be liable for fluctuations that may result from the change in the purchasing power of the funds used.
  6. 6.6The service provider does not request or require that the User keep Funds in their Wallet. Funding the Wallet is necessary solely to use the Services that the User wishes. In the event that the User's Wallet has a negative balance, the User undertakes to reimburse the service provider for the necessary funds immediately, without the need for any notice in this regard. The service provider reserves the right to suspend the use of the respective Wallet until the negative balance is fully reimbursed, as well as to take all collection actions it deems appropriate.

7. Anti-money laundering and counter-terrorist financing prevention policy

  1. 7.1The service provider reserves the right to cancel, suspend or modify any aspect of the Wallet and/or the Platform related to the provision of the Services, or their availability, at any time without prior notice and without any liability. In particular, and by way of illustration only, the service provider reserves the right to suspend, modify, deactivate or cancel the User's Wallet and/or account, as well as their access to all or part of its services, immediately and without prior notice, in the following cases: there is a presumed breach of these T&C in the opinion of the service provider; the User funds their Wallet from another account over which they do not have ownership, whether real or apparent; a court order is issued for the freezing of funds; the User or their Wallets are subject to pending litigation, investigation or governmental proceedings; there is a reasonable suspicion of breach by the User of the AML/CTF policy or they have failed to comply with any of the provisions of these T&C; the User does not provide truthful, up-to-date and correct information; the User funds their Wallet through the use of fraudulent techniques or processes or in an illegal manner; if there is a suspicion that the funds are the product of an unlawful or criminal activity; if, in the reasonable opinion of the service provider, the User's Wallet interacts with illegal and/or fraudulent services; for any other reason for which the service provider considers that the User's Wallet or the operations they have carried out represent a risk to the service provider's operations; or for any other cause or none at all, at the service provider's discretion.
  2. 7.2The service provider's Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) policy is guided by the resolutions of the Financial Intelligence Unit ("FIU") and the international criteria issued by the Financial Action Task Force on Money Laundering.
  3. 7.3The User acknowledges that the service provider shall strictly legally comply with the valid requirements that any competent authority may impose on it, by virtue of which there may be requirements additional to those established in the T&C. Compliance with the requirements concerning personal data shall be subject at all times to the provisions of our privacy policy and the legislation in force.
  4. 7.4In the event that there may be a suspicion that a User or Wallet is breaching any AML/CTF provision, the User acknowledges that the service provider has the right to carry out any review and/or audit action it deems necessary and/or appropriate, such as requesting and collecting any type of necessary information or documentation, as well as reporting, at our sole discretion, any activity to any authority and, where applicable, taking any measure or carrying out any act contemplated implicitly or explicitly in the T&C or in the applicable legislation, including without limitation the temporary or permanent suspension of any User and/or Wallet or of access to the Applications.
  5. 7.5As part of the implementation of our AML/CTF policy, the service provider reserves the right to require any additional information, with the intention of determining or corroborating the transactional profile, whether declared or operated, of the User, as well as the origin and destination of the funds involved in the operations that the User carries out, or for any other related or appropriate purpose, and, should it fail to receive the necessary and/or satisfactory information, the service provider may suspend or terminate the Services and/or the contractual relationship with the User, including access to the Platform. The Funds that the User deposits, holds or sends through the Platform and/or by means of the use of their Wallet may be reimbursed exclusively to deposit accounts opened at a Financial Institution in the User's name; otherwise, subject to a prior legal or judicial resolution to that effect, the User waives all funds held with the service provider as determined by the competent authorities.
  6. 7.6Deposits from accounts at Financial Institutions in the name of third parties other than the User holding the Wallet are prohibited. Transfers must always originate from an account in the User's name opened at a Financial Institution; otherwise they shall be returned to the originating account. The service provider reserves the right to return any transfer made by any third party in contravention of the provisions of the T&C and the requirements it determines from time to time, as well as to initiate any related action in accordance with the applicable legislation.
  7. 7.7The service provider shall use the personal data collected from the User to carry out the activities aimed at fulfilling the obligations arising from any legal and commercial relationship resulting from these T&C, as well as to provide the best possible experience to the User.
  8. 7.8The registration of more than one User for the same natural or legal person is prohibited.
  9. 7.9Upon registering on the Platform, the User must provide certain registration data and information in order to verify their identity. Some of this information may include personal, private or sensitive data that will be processed in accordance with the regulations in force. When completing the online registration form, the User affirms that they provide true, accurate, up-to-date and complete information about themselves as required by the registration form; and further agrees to maintain and update the registration data so as to keep the information complete, true, accurate, up-to-date and comprehensive throughout the entire period during which they are a User of the Platform.
  10. 7.10The service provider reserves the right to modify, at its sole discretion, its policy on risk control levels and prevention of money laundering.
  11. 7.11The service provider reserves the right not to open accounts, Wallets and/or Users for persons who, at its sole discretion, do not satisfy the established requirements, or who, for any other reason, do not meet, in the opinion of the service provider, any of the conditions that it may determine from time to time in consideration of its interests and compliance with any domestic or foreign legislation.
  12. 7.12Having complied with the information and documentation requirements established, the User may use the Services within the determined deposit, withdrawal and monthly balance limits, and always subject to the provisions of the legislation applicable to the service provider's activity, without this exempting the User from providing or updating the information and/or documentation that the service provider may request from time to time in accordance with its risk control and money laundering prevention policies.
  13. 7.13The service provider permanently maintains and monitors the User's risk level and establishes daily, monthly and annual limits for using the Services, in accordance with which it requires the information it establishes according to the circumstances.
  14. 7.14The service provider shall create standardized application programming interfaces (or "APIs") that enable connectivity and access by other Collection and Payment Service Providers, by other Financial Institutions and/or by third parties specialized in information technology, in order to share various data and information as provided for in the applicable regulations and in accordance with our Privacy Policies.
  15. 7.15The service provider may also share information with Financial Institutions in accordance with the Law of each country, for the purpose of fulfilling its legal obligations and/or its contractual responsibilities towards the user. This is in accordance with our Privacy Policies and the personal data protection regime.

8. Additional provisions

  1. 8.1In the event that a Wallet is closed for any reason, any funds shall remain in said Wallet as unclaimed property.
  2. 8.2Wallets that, over the course of 2 years, have had no movement through collections, payments or balance inquiries shall be transferred to a global account of the service provider created especially for those purposes, with those funds remaining subject to all price variations that may arise due to inflation and the loss of the currency's purchasing power. Movements related to the charging of fees and/or commissions shall not be considered movements.
  3. 8.3All Content is the property of the service provider and/or of any other affiliated company, subsidiary, branch, agency, representation, parent, controlled, related entity and any natural or legal person that may be related to it and its content. The compilation, interconnection, operability and arrangement of the contents of the Application are the exclusive property of the service provider and/or its related companies. The User must refrain from carrying out on the Contents any act of decompilation, reverse engineering, modification, disclosure or supply. The unauthorized use, adaptation, reproduction and/or commercialization of the Content may be punishable under the legislation in force in each country where the service provider has a direct presence or a presence through a related company.
  4. 8.4The User undertakes to indemnify the service provider, as well as its respective officers, directors, collaborators and employees (and to hold them harmless from damages, costs, expenses or losses, including legal fees), for disputes that arise from or relate to the User's breach of any of its obligations arising from the T&C or the applicable legislation.
  5. 8.5The User undertakes to indemnify and hold the service provider harmless with respect to any damage or loss affecting it as a consequence of any fact, act or omission related to access to the Platform and/or the Services, and agrees that, in order to recover such damages or losses, the service provider may use the Funds held in any of the User's Wallets or exercise its rights in accordance with the applicable legislation, until the damage and/or loss is compensated.
  6. 8.6If any provision of the T&C is invalid or unenforceable under the applicable law, the remaining provisions shall continue in full force and effect.
  7. 8.7The T&C and the rights and obligations provided for herein may not be transferred or assigned by the User in any form. The service provider reserves the right to assign these terms, transfer or assign the information we have collected from the User by reason of an assignment to subsidiaries, affiliates, parent companies, associates or entities of the same business group, or as a consequence of any other transaction.
  8. 8.8These T&C, their interpretation, compliance and enforcement shall be governed by the law of each of the jurisdictions where the Provider and/or KungaPay operates as an incorporated company. Thus, the Parties agree to submit to the jurisdiction and competence of the courts corresponding to the capital of each country, hereby waiving those that may correspond to them by law, venue or residence, by reason of their domicile or any other cause.
  9. 8.9The User acknowledges that a digital version of the T&C, together with the respective data chain, shall be admissible as evidence in judicial or administrative proceedings.
  10. 8.10The User declares that they have read the provisions of the T&C, and that they understand the scope of their obligations and rights, thereby assuming the obligations arising from their consent, with no error of law or fact, violence, willful misconduct, bad faith, deceit, injury, incapacity or any other circumstance that could affect consent.

9. Account closure at the User's request

  1. 9.1Registered users may request the closure of their account on the Platform provided that there are no transactions pending execution or any balance in their accounts.
  2. 9.2The T&C shall remain in force for an indefinite period, provided that the contractual relationship between the service provider and the User exists and is maintained. Once the User requests the Closure of their account, the T&C shall remain in force.
  3. 9.3The closure of the account does not imply the deletion of the data collected by the service provider.

10. Death of the User

  1. 10.1In the event of the death of a validly registered user, the service provider shall initiate the account closure protocol, upon formal notification and substantiation of the event by third parties.
  2. 10.2Once the event has been substantiated, the service provider shall inform the balances, both in local currency and in virtual currency, to those who validly represent the deceased in accordance with the laws of each country.
  3. 10.3The service provider shall proceed with the delivery of the safeguarded assets in accordance with the applicable rules of each country.

11. Fees applied to the services and compensation

  1. 11.1Users agree to pay the fees and commissions applicable to the service.
  2. 11.2Every transaction is subject to the charging of commissions, which shall be automatically deducted from the user's account upon carrying out a transaction through the platform.
  3. 11.3In the event that service commissions have been billed that do not correspond, the user must contact the support area immediately.
  4. 11.4Depending on the country from which the operation with fiduciary money is carried out, the refund processes shall be affected by the commissions applied to deposits or withdrawals.
  5. 11.5The User declares that they are fully aware of the foregoing and accepts it.

12. Information on potential risks of investing in crypto assets

  1. 12.1The offering of Crypto Assets in Spain is subject to article 240 bis of the consolidated text of the Securities Market Act and to Circular 1/2022, of 10 January, of the National Securities Market Commission. It is important to read and understand the risks of investing in the products offered by Kunga Inversiones 2022, S.L. (hereinafter, Kunga), which are explained in detail in this document.
  2. 12.2How should this risk warning be interpreted? All terms used in this notice that are defined in Kunga's Terms of Use (the "Terms of Use") have the same meaning and interpretation as in the Terms of Use.
  3. 12.3Kunga Services: This notice provides information about the risks associated with the Kunga Services. Each Kunga Service has its own risks. This notice provides a general description of the risks involved in using the Kunga Services and does not explain all the risks or how such risks relate to your personal circumstances. It is important to fully understand the risks involved before deciding to use Kunga Services. To do so, it is necessary to read the Terms of Use carefully.
  4. 12.4No personal advice: Kunga does not provide personal advice in relation to its products or services. At times it provides objective information, information about transaction procedures and information about potential risks. However, any decision about the use of the Kunga Services is the User's. No communication or information provided by Kunga is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice or any other type of advice. The User is solely responsible for determining whether any investment, investment strategy or related transaction is suitable for each User according to their personal investment objectives, financial circumstances and risk tolerance. Kunga is not your broker, intermediary, agent or advisor and has no fiduciary relationship or obligation to Users in connection with transactions or other decisions or activities they carry out using the Kunga Services. Kunga does not monitor whether the use made of the Kunga Services is consistent with the Users' financial goals and objectives. It is up to the user to assess whether their financial resources are adequate for their activity with Kunga, and for their risk tolerance with respect to the Kunga Services they use.
  5. 12.5No tax, regulatory or legal advice: The taxation of Crypto Assets is uncertain. The user is responsible for determining which taxes they may be liable for and how they apply when carrying out transactions through the Kunga Services. It is the User's responsibility to inform themselves and pay any tax that may arise from the use of the Kunga Services, and they acknowledge that Kunga does not provide legal or tax advice. Kunga recommends seeking independent advice in the event of any doubt about the tax situation or obligations arising from using the Kunga Services, or with respect to the Crypto Assets held in the Kunga Account.
  6. 12.6Market risks: The value of investments and the return obtained from them may experience significant variations upwards and downwards, and the entire amount invested may be lost. Investments in early-stage projects involve a high level of risk, and it is therefore necessary to properly understand their business model. Trading in Crypto Assets is subject to high market risk and price volatility. Changes in value can be significant and can occur quickly and without prior notice. Past performance is not a reliable indicator of future performance. The value of an investment and any returns may go down as well as up, and you may not recover the amount of the investment. The Crypto Assets offered by Kunga are not covered by official client protection mechanisms such as the Deposit Guarantee Fund or the Investor Guarantee Fund. The prices of Crypto Assets are formed in the absence of mechanisms ensuring their correct formation, such as those present in regulated securities markets.
  7. 12.7Liquidity risk: Many Crypto Assets may lack the liquidity necessary to unwind an investment without suffering significant losses, since their circulation among investors, whether retail or professional, may be very limited. This can occur at any time, including during periods of rapid price movements.
  8. 12.8Commissions and costs: Kunga may update the commissions and costs as established in the Terms of Use. All applicable costs and charges will affect the gains generated when using the Kunga Services.
  9. 12.9Availability risk: Kunga does not guarantee that the Kunga Services will be available at all times or that the Kunga Services will not be subject to unforeseen service interruptions or network congestion. It may not be possible to buy, sell, store, transfer, send or receive Crypto Assets at all times.
  10. 12.10Third-party risk: Third parties, such as payment providers, custodians and banking partners, may participate in the provision of the Kunga Services. Users may be subject to the terms and conditions of these third parties, and Kunga shall not be liable for any loss that these third parties may cause to the user.
  11. 12.11Security risk: The anonymity features that Crypto Assets may provide make them a target for cybercriminals. The User is responsible for keeping their Kunga Account password secure.
  12. 12.12Technological risks: Crypto Assets and distributed or replicated ledger technologies are still at an early stage of maturity, and therefore may not be sufficiently tested and there may be significant flaws in their operation and security.
Legal questions? Write to us at [email protected].
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