1. GENERAL PROVISIONS
- Website at https://blocktrade.com(also referred as: “Website”),
- Mobile App and Web application (also referred as: “Platform”)(available at Google store and Apple app store and Website) which provides the Services for Users with registered Accounts in accordance with Terms,
- Any other Services accessible through the App and/or Website, provided by Blocktrade.
This policy sets out the basis on which any Personal data we collect from You, or that You provide to Blocktrade, will be processed and used by Blocktrade.
1.2 Personal information/data refers to any information that can be associated with a specific person (also referred as: “You” or “User”)and can be used to identify that person, directly or indirectly, in particular by reference to an identifier such as a name, address, e-mail address, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person and another required information User provides to gain and operate a registered Account (in this policy collectively referred to as: “Personal data” or “personal information”).
1.4 Unless otherwise indicated, terms used in this Regulation shall have the same meaning as under GDPR.
1.7 BLOCKTRADE’S CONTACT DETAILS:
Full name of legal entity: BLOCKTRADE AG, registration number: FL-0002.576.563-3
Postal address: Landstrasse 37, 9490 Vaduz, Liechtenstein
1.8 DATA PROTECTION OFFICER
Blocktrade has appointed data protection officer (also referred as: “DPO”), who has several responsibilities, based on GDPR including but not limited to:
- monitoring Blocktrade’s compliance with the GDPR and other data protection laws;
- raising awareness of data protection issues, training Blocktrade staff and conducting internal audits; and
- cooperating with supervisory authorities on our behalf.
If you have any questions about this privacy notice, including any requests to exercise your legal rights, please contact us via Blocktrade’s e-mail address ([email protected]) or contact DPO via direct e-mail address [email protected]
You have the right to make a complaint at any time to the Liechtenstein’s Data protection Office. We would, however, appreciate the chance to deal with your concerns before you approach the data protection office, so please contact us in the first instance.
- Always keep your data safe and private.
- Never sell your data.
- Allow you to manage and review your marketing communication preferences at any time.
Blocktrade does not collect or process your genetic, physiological, mental, racial or ethnic origin, cultural or social identity Personal data, political opinions, religious or philosophical beliefs, trade union memberships, data concerning health or data concerning a natural person’s sex life or sexual orientation.
2.1 When Users access the Website or use Services, Blocktrade may place small data files called cookies on User’s computers or other devices.This helps us to provide you with a good experience when you use the Apps, Platform or browse our Website and also allows us to improve the App and our Website.Blocktrade uses these technologies to recognize you as User of the Website, Platform and/or other Services in order to customize the Website and advertising content, measure communication and marketing effectiveness and collect information about User’s devices to mitigate risk, help prevent fraud and promote trust and safety.
2.3 Most web browsers are set to accept cookies by default. You are free to decline most of our cookies if your browser or browser add-on permits but choosing to remove or disable our cookies may interfere with your use and functionality of the Services. Additionally, we may use certain persistent cookies that are not affected by your browser settings but will use such cookies solely for identity verification and fraud prevention purposes. For more information about cookies and how to block, delete or disable them, please refer to your browser instructions, or contact us at [email protected].
3. INFORMATION WE COLLECT ABOUT YOU
Blocktrade may collect, use, store and transfer different kinds of Personal data about you which we have grouped together as follows:
3.1 Submitted Personal information:
This is Personal information you may give us about you by filling in forms on Website, Platform and/or Apps and/or corresponding with us by mail, phone, email or otherwise. This includes Personal information You provide by:
- filling in forms on the App, Website and/or Platform and/or subscribing to our Newsletter (such as Blocktrade news and updates that provide information regarding the latest developments of the platform and the company, promotions, and industry news), download a document from Website, register for a webinar or enter a Blocktrade’s contest, survey or other marketing activity. The latter shall be further described in terms and conditions of the relevant activity, and/or
- (actively) corresponding with us (for example, by e-mail, via the chat functions on the App and/or the Website and/or through our customer service or otherwise actively correspond with Blocktrade) and/or participating in discussion boards or other social media functions on the App or the Website,
- providing required Personal information and requested documents in the context of verifying User’s identification and detection of money laundering, terrorist financing, fraud, or any other financial crime.
(collectively also referred as: Submitted Personal information)
3.1.1 Submitted Personal information in particular includes:
- Identity data: first name, maiden name, last name, title, date of birth username, password and other registration information and/or similar identifiers,
- Contact data:address, e-mail address, phone number,
- Financial datasuchas:
- Your Crypto-Asset Private wallet accounts,
- Balance of your Assets on (registered Blocktrade) Account,
- origin of the assets which are being deposited on registered Blocktrade Account,
- financial background of the total assets, which are being deposited on registered Blocktrade Account including occupation and business activity of the actual contributor of the assets,
- and/or details of Your bank account including the bank account number, bank sort code, IBAN, details of your debit and credit cards including the long number, relevant expiry dates and CVC,
- Identity verification information: such as images of your government issued ID, passport, national ID card, or driving license, ID number, numbers that they may use or have registered with his/its local tax authority, or other data which can be used for personal identification purposes and that may be required to comply with legislation on prevention of money laundering, money laundering, terrorist financing, fraud, or any other financial crime
- Residence verification informationsuch as utility bill with relevant details,
- Marketing and Communications Datawhich includes your submitted preferences in receiving marketing material from us and our third parties and your communication preferences.
- Beneficial owners: When embarking upon a legal relationship with Blocktrade and/or concluding occasional transactions by using Blocktrade Services through legal entities and similar entities, Blocktrade is legally obligated to identify beneficial owners, whereas “beneficial owner” means a natural person on whose initiative or in whose interest a transaction or activity is carried out or a business relationship is ultimately constituted. In the case of such legal entities, the “beneficial owner” is also the natural person in whose possession or under whose control the legal entity ultimately is situated.
3.2 Personal information collected by using automated technologies or interactions:
This is Personal information you may give us about you as you interact with our Websites, we may automatically collect Technical Data about your equipment, browsing actions, including your IP address, patterns and other activity when using Website, Apps and/or Platform.Blocktrade collects this Personal data by using cookies, server logs and other similar technologies. This allows us to recognize Users and avoid repetitive requests for the same information. With automation technologies we track, collect and store the User behavior on the Website. However, Blocktrade does not allow other websites to read cookies from our Website.
(collectively also referred as: Automated Personal data)
3.2.1 Automated Personal data in particular includes:
- Transaction data: Keeping track of performed transactions and/or transfer of your Assets on Apps and/or Website and vice-versato Your or others bank account and/or to Your or others Crypto-Asset Private wallet accounts. Collected transaction data includes date, time, amount, currencies used, exchange rate, beneficiary details, details and location of the counterparty associated with the transaction, IP address of sender and receiver, sender’s and receiver’s name and registration information, messages sent or received with the payment, device information used to facilitate the payment and the payment instrument used,
- Trading data:For the purposes of monitoringand execution of Orders(in sense of “execution of a contract” within the meaning of GDPR) and for the purposes of identification and/or prevention of possible insider trading and/or market manipulation, we also collect certain information about your use of the Services on the Platform, such as use of the Apps and Platform, including but not limited to:
- keeping track of performed transactions and/or transfer of your Assets on Apps, Platform and/or Website and vice-versa to Your or others bank account and/or to Your or others Crypto-Asset Private wallet accounts,
- keeping track of placed, filled or cancelled trade Orders,
- keeping track of other similar Users’ trading activities on Apps, Website and or Platform.
Collected/monitored trading data includes date, time, amount, currencies used, exchange rate, beneficiary details, details of the counterparty associated with the individual transaction, IP address of sender and receiver, sender’s and receiver’s name and registration information, messages sent or received with the payment, device information used to facilitate the payment and the payment instrument used,
- Profile Data:purchases or orders made by you or on your company’s behalf, your companies’ interests, preferences, feedback and survey responses.
- Usage Data:includes information about how you use Website, Platform and/or Services.
- Technical Data:includes internet protocol (IP) address, your login data, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform and other technology on the devices you use to access our Websites, Apps and/or Platform.
- Personal data obtained with authorized third parties or publicly available sources:
We may obtain Your Personal data about you from authorized partners and public sources, namely publicly available registers such as political party registers, international sanctions lists, company registers and other publicly accessible sources which provide reliable data about You, Your family members and/or Your close business associates. This Personal information is obtained, processed and stored in order to perform legally necessary (Art. 6(1) (c) GDPR)due diligence and verification of Users, imposed on Anti-money laundering and counter terrorist financing legislation (Fourth Money Laundering Directive (Directive 2015/849, abbreviated to 4MLD). This Personal data is obtained, processed and stored exclusively and to a minimum extent to what is necessary to determine Users (or their family members and/or close business associates) as Politically Exposed Persons and/or persons, listed on politically party registers International sanctions lists and/or trade sanctions lists when embarking upon a legal relationship with Blocktrade or when performing transactions by using Apps or Platform. Explained verification is made on the basis on Submitted Personal data.
(collectively also referred as: Personal data obtained by third parties)
3.3.1 Personal data obtained by third parties in particular includes:
- Identity data of Users, their family members (spouse, partner considered equivalent to a spouse under national law, children and their spouses or partners and parents) and/or close business associates that corresponds to identity information of persons which shall be recognized in public Political party registers, International sanctions lists, trade sanctions lists and other publicly accessible sources which provide reliable data for Blocktrade to perform due diligence of Users in accordance with Anti-money laundering and counter terrorist financing regulation.
- Third parties are business partners, sub-contractors in technical, payment and delivery services, advertising networks, analytics providers, search information providers, fraud prevention agencies, customer service providers and developers which are required to ensure that they comply with the GDPR (Art. 28 GDPR).
In context of pursuing »legitimate interests« within the meaning of GDPR for identification and/or prevention of possible insider trading and/or market manipulation.
in context of “execution of a contract” within the meaning of GDPR.
4. USES MADE OF THE PERSONAL DATA
4.1 Below is a summary of the key types of Personal data that we make use of as part of the Blocktrade Services. For more information on how these types of data are used and for which purposes then please see the table below.
4.2 We use information held about you in the following ways:
4.2.1 Submitted Personal data is used:
- to carry out our obligations arising from any transactions you enter into with us, for example to provide you Blocktrade Services in accordance with Terms, such as execution of Orders and transfer of Assets to your Accounts and vice versa;
- to verify your identity to protect against fraud, comply with Anti-money laundering and counter terrorist financing legislation and other financial crime laws and to confirm your eligibility to use our products and Services;
- to notify you about changes to our Service or Terms;
4.2.2. Automated Personal datais used:
- for the purposes of identification and/or prevention of possible insider trading and/or market manipulation,
- to provide you with information about other Services we offer that are similar to those that you have already used or enquired about;
- to ensure that content from our Website is presented in the most effective manner for you and for your computer.
- to administer our Website and Apps for internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes;
- to improve our Website and the App to ensure that content is presented in the most effective manner for you and for your computer;
- to allow you to participate in interactive features of our Services, when you choose to do so;
- as part of our efforts to keep our Website and the App safe and secure;
- to measure or understand the effectiveness of advertising we serve to you and others, and to deliver relevant advertising to you;
- to make suggestions and recommendations to you and other Users of our Website and the App about goods or Services that may interest you or them;
- to verify your identity, protect against fraud, comply with Anti-money laundering and counter terrorist financing legislation and other anti-financial crime laws and to confirm your eligibility to use our Services; and
- to comply with our regulatory obligations.
4.2.3. Personal data obtained by third parties:We will combine this information with Submitted Personal data you give to us and Automated Personal data we collect about you. We will use this information and the combined information:
- to help us better understand your financial circumstances and behavior so that we may make decisions about how we manage your Account;
- to process applications for products and Services available through us including making decisions about whether to agree to approve any applications; and
- for the purposes set out above (depending on the types of information we receive).4.3 We may associate any category of Personal data to any other category of Personal data and will treat the combined information as Personal data in accordance with this policy for as long as it is combined. For example:
- we may use Personal data obtained by third parties to perform cross-reference with Submitted Personal data to accurately authenticate the individual User in order to perform thorough due-diligence of Users (imposed on legal obligations in Anti-money laundering and counter terrorist financing legislation and other anti-financial crime laws).
- in accordance with Liechtenstein’s Due Diligence ActBlocktrade is obliged to establish and maintain due diligence files for the purposes of documentation and reporting obligation pursuant to Liechtenstein’s Due Diligence Act. In this regard Blocktrade combines Submitted Personal data with Automated Personal data and Personal data obtained by third parties to establish such profile for individual User which contains the following details:
- the documents and records that have been used to identify and verify the identity of the User and the beneficial owner;
- in the case when the beneficial owner can be identified as legal entity, proof that the necessary legal conditions for these provisions to apply,
- the established business profile of the business relationship between Blocktrade and individual User (when commencing “business relationship” within the meaning of art. 2. c) of Liechtenstein’s Due Diligence Act), which includes in particular information concerning the:
- details about Users and beneficial owner,
- authorized agents and bodies dealing with Blocktrade,
iii. origin of the deposited Assets,
- financial background of the total Assets, including occupation and business activity of the actual contributor of the Assets and
- intended use of the Assets.
4.4. For advertising networks, we utilize anonymized Personal data in order to serve relevant adverts to target segments. However, Blocktrade will never disclose identifiable information to advertisers.
Liechtenstein’s Law of 11st December 2008 on Professional Due diligence for the Prevention of Money Laundering, Organised Crime and Financing of Terrorism, no. 952.1 (also referred as: Liechtenstein’s Due Diligence Act).
What do we mean when we say:
Legitimate Interest: this means the interest of ours as a business in conducting and managing Blocktrade to enable us to provide to you the Blocktrade Services and offer the most secure experience. We make sure we consider and balance any potential impact on you (both positive and negative) and your rights before we process your personal data for our legitimate interests. We do not use your personal data for activities where our interests are overridden by the impact on you (unless we have your consent or are otherwise required or permitted to by law). Within the meaning of “legitimate interest” Blocktrade (also) pursues its legitimate interest of identification and/or prevention of possible insider trading and/or market manipulation, we also collect and process certain information about your use of the Services on the Platform, such as use of the Apps and Platform, Identification data, Financial data, Transaction data, Trading data, Profile, Usage data and Technical data.
Fulfilling a Contract: this means processing your Personal data where it is necessary to provide you use of the Services on the Platform within the meaningof the “performance of a contract” to which you are a party or to take steps at your request before entering into such a contract.
Our Legal Obligation: this means processing your personal data where it is necessary for compliance with a legal or regulatory obligation that we are subject to, especially Anti-money laundering and counter terrorist financing legislation (Fourth Money Laundering Directive (Directive 2015/849, abbreviated to 4MLD) and Liechtenstein’s Law of 11st December 2008 on Professional Due diligence for the Prevention of Money Laundering, OrganisedCrime and Financing of Terrorism, no. 952.1.
5.1 Blocktrade is striving to provide clear information of Personal data usage for our marketing purposes and simple access to individual’s communication preferences management or opt-out from receiving any marketing communications from us whenever you want.
5.2 We provide you clear choices on your Personal data uses for marketing and advertising purposes. You can always access your personal communication preferences management page via our e-mail ([email protected]).
6. PROMOTIONAL OFFERS FROM US
6.1 We may use your Personal data (such as your Submitted Information and Automated Personal data to form a view on what we think you may want or need, or what may be of interest to you. This is how we decide which products, services and offers may be relevant for you.
6.2 You will receive marketing communications from us if you have signed up to and/or utilize the Blocktrade Services and, in each case, you have not opted out of receiving marketing notifications.
7. THIRD-PARTY MARKETING
7.1 We will not share your Personal data with any company outside the Blocktrade group that is not our contracted data processor, who is obliged to process Personal data on behalf of Blocktrade at least in such a manner that processing will meet the requirements under GDPR.
9. DISCLOSURE OF YOUR PERSONAL DATA
9.1 DATA PROCESSING PARTNERS
a) We will disclose the Personal data we collect from you to certain third parties (processors) who use Personal data in delivering their Services to us. Such partners shall use Personal data securely and confidentially and under strict contractual controls in accordance with data protection laws and enforced by Blocktrade.
b) We send Personal data to the following sets of data processors in order to perform the Blocktrade Services and/or to provide you customized marketing communication with your consent:
– Fraud prevention agencies: This is in order to verify your identity, protect against fraud, comply with anti-money laundering laws and to confirm your eligibility to use our products and Services;
– Cloud storage providers: This is in order to safely and securely store your data with Blocktrade;
– Banking and financial services partners: Financial services providers that help us provide the Blocktrade Services including banking partners, banking intermediaries and international payments services providers;
– Advertisers and analytics providers: For advertising networks, we utilize anonymized Personal data in order to serve relevant adverts to target segments. However, Blocktrade will never disclose identifiable information to advertisers.
– Marketing automation and CRM provider: This data processor enables us to collect and manage your Personal data at one place (at least in such a manner that processing will meet the requirements under GDPR) and to ensure you the rights to access, manage, export or delete your Personal data according to GDPR.
– Companies within the Blocktrade group of undertakings: In order to provide a unified service across all of our Services, we may disclose your Personal information to any member of the Blocktrade group of undertakings, which means any of our subsidiaries or related entities. Companies in the Blocktrade will be acting as joint controllers or processors in order to provide the Blocktrade Services.
9.2. We may also disclose your personal information in the following circumstances:
a) If Blocktrade or substantially all of its assets are acquired by a third party, in which case personal data held by it about its customers will be one of the transferred assets.
b) If we are under a duty to disclose or share your Personal data in order to comply with any legal or regulatory obligation or request.
c) In order to:
– enforce or apply the Terms of Service and/or any other agreements between you and Blocktrade or to investigate potential breaches; or
– protect the rights, property or safety of Blocktrade, our customers or others. This includes exchanging information with other companies and organizations for the purposes of fraud protection.
10. THIRD PARTY SERVICES PARTNERS
10.1 We may share your Personal data in order to provide certain Services to you upon your request. For example, we will share your Personal Data with our financial (banking) partners so that they may provide you with relevant services to transfer FIAT currencies to Apps or Platform and vice-versa.
10.3 You can withdraw your consent at any time after giving your explicit opt-in consent by contacting support via [email protected]and letting us know.
11. STORAGE SECURITY & INTERNATIONAL TRANSFERS
11.2 All information you provide to us is stored on our secure servers, encrypted at rest. Any payment transactions carried out by us or our chosen third-party provider of payment processing services will be encrypted in transit. Where we have given you (or where you have chosen) a password that enables you to access certain parts of our App and/or our Website, you are responsible for keeping this password confidential. We ask you not to share a password with anyone.
11.3 Unfortunately, the transmission of information via the internet and/or blockchain protocol is not completely secure. Although we will do our best to protect your Personal data, we cannot guarantee the security of your data transmitted to our App or our Website; any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorized access.
11.4 Certain Services include social networking, chat room or forum features. Ensure when using these features that you do not submit any personal data that you do not want to be seen, collected or used by other users.
12. RETAINING YOUR INFORMATION
12.1 Blocktrade is obligated under Liechtenstein’s Law of 11st December 2008 on Professional Due diligence for the Prevention of Money Laundering, Organised Crime and Financing of Terrorism, no. 952.1 to retain personal data about you and your Blocktrade Transactions for a period of minimum ten years from the conclusion of the transaction or from their preparation. We, therefore, use this retention requirement as a benchmark for all Personal data that we receive from you. In order to not hold your information for longer than is strictly necessary we will not hold any of your Personal data for more than 11 years after the termination of our business relationship.
13. YOUR LEGAL RIGHTS
13.1 You have rights under data protection laws in relation to your Personal Data. Please see below to find out more about these rights:
13.2 Request access to your personal data (commonly known as a “data subject access request“).This enables you to receive a copy of the Personal data we hold about you. If you require this, then please reach out to our support team ([email protected]).
13.3 Request correction of the Personal data that we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected, though we may need to verify the accuracy of the new data you provide to us. If you require this, then please reach out to our support team via the in-App chat function.
13.4 Request erasure of your personal data. This enables you to ask us to delete or remove Personal data where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your Personal data where you have successfully exercised your right to object to processing (see below), where we may have processed your information unlawfully or where we are required to erase your personal data to comply with local law. Note, however, that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request. As a person subject to due diligence in accordance with Anti-money laundering and counter terrorist financing regulation, Blocktrade is under certain obligations to retain certain data for a minimum of 10 years (see above). Please note that these retention requirements supersede any right to erasure requests under applicable data protection laws.
13.5 Object to the processing of your Personal Data.This is in situations where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on this ground as you feel it impacts on your fundamental rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes. In some cases, we may demonstrate that we have compelling legitimate grounds to process your information which override your rights. As a person subject to due diligence in accordance with Anti-money laundering and counter terrorist financing regulation, Blocktrade is under certain obligations to process and retain certain data for compliance purposes. Please note that these requirements supersede any right to objection requests under applicable data protection laws. If you object to the processing of certain data, then we may not be able to provide the Blocktrade Services and it is likely we will have to terminate your account.
13.6 Request restriction of processing of your Personal Data. This enables you to ask us to suspend the processing of your personal data in the following scenarios:
- if you want us to establish the data’s accuracy;
- where our use of the data is unlawful, but you do not want us to erase it;
- where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims; or
- you have objected to our use of your data, but we need to verify whether we have overriding legitimate grounds to use it.
Please note that any requests in relation to the restriction of the processing of your data mean that we may not be able to perform the contract we have or are trying to enter into with you (including the Blocktrade Services). In this case, we may have to cancel your use of the Blocktrade Services but we will notify you if this is the case at the time.
13.7 Request the transfer of your personal data to you or to a third party.We will provide to you, your Personal data in a structured, commonly used, machine-readable format, which you can then transfer to an applicable third party. If you require this then please reach out to our support team via [email protected].
13.8 Withdraw consent at any time where we are relying on consent to process your Personal data. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to provide the Blocktrade Services to you. Regardless of Users withdrawal of consent, Blocktrade is obligated to process and store relevant Personal data for certain period in order to comply with legislation on prevention of money laundering, money laundering, terrorist financing, fraud, or any other financial crime.
14.1 NO FEE USUALLY REQUIRED
You will not have to pay a fee to access your Personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we may refuse to comply with your request in these circumstances.
14.2 WHAT WE MAY NEED FROM YOU
We may need to request specific information from you to help us confirm your identity and ensure your right to access your Personal data (or to exercise any of your other rights). This is a security measure to ensure that Personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.
14.3 TIME LIMIT TO RESPOND
We try to respond to all legitimate requests within one month. Occasionally it may take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.
14.4 IF YOU FAIL TO PROVIDE PERSONAL DATA
Where we need to collect personal data by law, or under the terms of a contract we have with you and you fail to provide that data when requested, we may not be able to perform the contract we have or are trying to enter into with you (including the Blocktrade Services). In this case, we may have to cancel your use of the Blocktrade Services but we will notify you if this is the case at the time.
- Contact us via our support team: [email protected] or
- Contact our appointed data protection officer: [email protected]
Liechtenstein, Vaduz on 30thof May, 2018