Terms & Conditions

INTRODUCTION

Within this document, the entity referred to as «KANBERRY PTY Ltd.» shall be denoted by terms such as «Kanberry» «we» «our» or «us». The present terms and conditions aim to delineate Kanberry’s operational procedures and the responsibilities held by you, herein referred to as the «Client», «YOU» in your capacity as an associate of our website. Ownership of the website (referred to as the «Site»), along with its contents, lies with Kanberry PTY LTD and having the Australian Legal address: 123 Eagle Street, Brisbane, QLD 4000, Australia; Australian Company Number – 642 154 809; Australian Business Number – 85 642 154 809.

Kanberry is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a remittance service provider and a digital currency exchange (DCE) provider under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) («AML/CTF Act»). Kanberry is not a bank and does not hold an Australian Financial Services Licence (AFSL). Digital assets exchanged through the Platform are not «financial products» within the meaning of the Corporations Act 2001 (Cth) unless separately notified. However, the Australian Consumer Law (Schedule 2 of the Competition and Consumer Act 2010 (Cth)) («ACL») applies to the Services, including prohibitions on misleading or deceptive conduct (section 18 ACL), false or misleading representations (sections 29–37 ACL) and unfair contract terms (Part 2-3, Division 1 ACL). Kanberry undertakes to comply with these consumer protection obligations in the provision of the Services.

Your engagement with our services is to be conducted solely for legitimate purposes. It is imperative that you refrain from employing our services in the following capacities:

  • In any manner that contravenes or exhibits intent to contravene the applicable local, national, or international laws, regulations, or policies, or leads to Kanberry’s violation of such mandates.
  • In any manner that constitutes illegal or fraudulent activity, or is underpinned by unlawful or deceitful intent.
  • With the intent to inflict harm upon, or engage in activities that can be construed as harmful towards individuals, including minors, in any conceivable manner.
  • In association with content that is offensive, incites hatred, violence, or solicitation, or falls short of meeting our predetermined content standards.
  • In connection with unsolicited or unauthorized advertisements, promotional materials, or any form of unsolicited communication.
  • In alignment with malicious software, including viruses, spyware, or analogous computer code designed to compromise computer software or hardware.
  • In any way that facilitates illegal evasion of taxes, fees, or duties, or furthers tax evasion practices.
  • In a manner that may incite complaints, disputes, cancellations, refunds, or any other form of liability involving Kanberry, fellow Kanberry patrons, third parties, or yourself.
  • For purposes unauthorized or beyond the scope of our provided services, as specified by our internal policies, the policies of our banking partners, or the guidelines set forth by our payment network affiliates.
  • In violation of business-use permissions (if granted) to engage in specific business purposes, thereby excluding personal or unauthorized business-related usage.

Our services remain unavailable for businesses and transactions classified within the following domains:

  • Adult entertainment and associated services, encompassing pornography, escort services, prostitution services, and any promotion of sexual services.
  • Gambling services in jurisdictions where such activities are illicit, or gambling services provided without requisite licenses or permissions.
  • Trade of counterfeit or unauthorized goods, and services infringing upon the intellectual property or proprietary rights of third parties.
  • Activities associated with weapons production, sale, or supply.
  • Provision of regulated financial services (directly or indirectly) without valid licensure or registration.
  • Sale and/or distribution of products or services without mandated permission or licenses within the relevant jurisdiction.
  • Sale and/or distribution of goods or services advocating discrimination, based on attributes such as race, gender, religion, nationality, disability, sexual orientation, or age.
  • Engagement in Pyramid Schemes, Multilevel Marketing, or Telemarketing.
  • Transactions involving prohibited and/or endangered animal species, and products derived from such sources.
  • Sale and/or distribution of archaeological and cultural artifacts without proper authorization.
  • Transactions devoid of genuine commercial purpose, including pooling funds across multiple parties or illicitly using credit cards or stored value cards.
  • Transactions inconsistent with our risk appetite, governed by internal policies, banking partner policies, or payment network affiliate stipulations.

In addition, the following activities are strictly prohibited under Australian law and Kanberry’s policies:

  • Use of the Services to facilitate money laundering, terrorism financing, proliferation financing or any other financial crime, within the meaning of the AML/CTF Act and the Criminal Code Act 1995 (Cth).
  • Use of the Services in connection with sanctioned persons, entities, vessels, or jurisdictions listed on the DFAT Consolidated List of Sanctions, UN Security Council sanctions lists, or any other sanctions regime applicable to Australia.
  • Use of the Services for the purpose of evading or circumventing applicable sanctions, including structuring transactions, using intermediaries or layering through multiple wallets or accounts.
  • Use of the Services to process, store or transfer proceeds of crime or property suspected to be derived from criminal activity.
  • Use of the Services to make or receive payments related to ransomware, darknet marketplaces, or mixing/tumbling services designed to obscure the origin or destination of virtual assets.
  • Use of the Services in connection with unregistered or unlicensed financial services activities in any jurisdiction where Kanberry operates or where the Client is located.

The following categories of legal entities are ineligible to receive our services:

  • Individuals, organizations, or regions/entities subject to international sanctions.
  • Bearer shares or companies involving bearer shares within the chain of ownership.
  • Banks lacking a physical presence in any country («shell banks»).
  • Additional categories exceeding our risk tolerance, as established by our internal policies, policies of our banking partners, or guidelines of our payment network affiliates.

SECTION 1: TERMS AND SCOPE

1. These Terms and Conditions (hereafter «Terms») establish a legally binding agreement governing the provision of Services by Kanberry to the entity or individual identified within the Client Services Agreement («you,» «your,» or «Client»). Kanberry and the Client constitute individual «Parties,» and jointly, the «Parties.»

2. Should you avail Services from additional entities, we shall duly inform you about such parties, each of whom shall be deemed a party to these Terms.

3. It is essential that you desist from accessing or utilizing the Services unless you fully adhere to all terms and conditions stipulated herein, including any Supplementary Terms.

4. Acknowledge that Kanberry reserves the prerogative to amend, alter, revise, add, or modify the Agreements at any juncture without necessitating your explicit consent. Understand that these Terms remain unalterable by your sole agency and necessitate formal acceptance or confirmation on our part for modification.

5. Devote due diligence to comprehending these Terms in their entirety. We strongly recommend enlisting appropriate legal, financial, and tax consultants to address potential implications these Services might incur on legal, stamp duty, taxation, and accounting fronts.

SECTION 1A: ACCOUNT REGISTRATION AND PERSONAL CABINET

1.1. To access and use the Services, you must register an account on the Site by providing a valid e-mail address and creating a secure password («Account»). By registering an Account, you create a personal cabinet («Personal Cabinet») through which you will access, manage and monitor all aspects of the Services.

1.2. Upon successful registration, Kanberry will send a confirmation notification to the e-mail address you provided during registration. You must verify your e-mail address by following the instructions contained in the confirmation notification before your Account is activated.

1.3. You are solely responsible for maintaining the confidentiality and security of your Account credentials, including your e-mail address and password. You must not share, disclose or permit any third party to use your Account credentials. You agree to notify Kanberry immediately of any nauthorized access to, or use of, your Account.

1.4. Kanberry shall not be liable for any loss, damage or liability arising from nauthorized access to your Account where such access results from your failure to safeguard your Account credentials.

1.5. You may only maintain one Account. Kanberry reserves the right to merge, suspend or terminate duplicate accounts.

1.6. Following registration, you must complete the verification (identification) procedure described in Section 2 before you are permitted to use the Services. Until verification is successfully completed, your access to the Services will be restricted.

1.7. All transaction receipts, confirmations, statements and reports will be made available to you through your Personal Cabinet. In addition, Kanberry will send notifications of completed transactions and material account activity to the e-mail address registered to your Account. You are responsible for regularly reviewing your Personal Cabinet and e-mail correspondence from Kanberry.

1.8. You may update your e-mail address and password through your Personal Cabinet settings, subject to re-verification where required by Kanberry’s internal policies or applicable law.

SECTION 2: DUE DILIGENCE AND VERIFICATION

2. Customer Due Diligence (CDD) and Know Your Customer (KYC)

2.1. The Company is required to perform customer due diligence (CDD) and Know Your Customer (KYC) measures in accordance with applicable anti‑money laundering and counter‑terrorism financing laws and regulations. The Client agrees to provide all information and documents reasonably requested by the Company for the purposes of identification, verification, risk assessment and ongoing monitoring.

2.2. For individual customers, the Company may request, without limitation:

  • Valid government‑issued photo identification (such as a passport or driver’s licence);
    • Proof of residential address (such as a recent utility bill, bank statement or government letter);
    • Information and, where appropriate, supporting documents regarding source of funds and/or source of wealth;
    • Information about the purpose and intended nature of the relationship with the Company and anticipated transaction volumes and corridors.

2.3. For legal entity customers (including companies, partnerships, trusts and other organisations), the Company may request, without limitation:

  • Incorporation or registration documents (such as certificate of registration, extract from the relevant registry, articles of association, partnership or trust deed);
  • Details of the registered office, principal place of business, registration number and tax or business identification numbers (where applicable);
  • Information and supporting documents identifying and verifying directors, uthorized signatories, ultimate beneficial owners and any other persons who ultimately own or control the customer;
  • Information and supporting documents regarding the customer’s business activities, expected use of the Services, transaction volumes, main counterparties and relevant payment corridors;
  • Information and, where appropriate, supporting documents regarding source of funds and/or source of wealth, particularly for higher‑risk customers and structures.

2.4. The Company may apply enhanced customer due diligence where it considers the risk to be higher, including (without limitation) in relation to:

  • Politically exposed persons (PEPs), their family members and close associates;
  • Customers resident in, or transactions involving, higher‑risk jurisdictions;
  • Unusual or complex ownership structures or transactions;
  • Customers and transactions involving virtual assets or other higher‑risk products.

Enhanced measures may include obtaining additional identification documents, independent verification of information provided, obtaining further information on the purpose and nature of transactions, and more frequent or detailed ongoing monitoring.

2.5. CONSENT TO IDENTIFICATION, SCREENING AND MONITORING

2.5.1. By registering an Account and using the Services, the Client expressly consents to:

  • undergoing identity verification, including electronic verification, document verification, biometric verification and liveness checks, as part of the KYC/CDD process;
  • providing, upon request, additional documents and information required for the assessment of source of funds and source of wealth, particularly in cases assessed as presenting a higher risk;
  • screening against sanctions lists, including the DFAT Consolidated List, United Nations Security Council sanctions lists, and any other sanctions lists applicable under Australian law or Kanberry’s internal policies;
  • screening against politically exposed person (PEP) databases, law enforcement databases and adverse media sources;
  • ongoing transaction monitoring and behavioural analysis conducted by Kanberry for AML/CTF compliance purposes.

2.5.2. The Client acknowledges and agrees that Kanberry may, at any time and at its sole discretion:

  • request updated or additional CDD/KYC information and documents;
  • delay, suspend, block or refuse to process any transaction, or restrict, suspend or terminate the Client’s Account, where:
  • the Client fails to provide requested information or documents within the specified timeframe;
  • Kanberry is not satisfied as to the Client’s identity, source of funds, source of wealth, or the legitimacy of a transaction;
  • a transaction or relationship presents an unacceptable risk under Kanberry’s AML/CTF program or risk appetite;
  • a transaction may breach applicable sanctions or involve a sanctioned person, entity or jurisdiction;
  • Kanberry is required to do so by law, regulation, court order, or direction of AUSTRAC or another competent authority;
  • refuse to establish or continue a business relationship where the Client does not meet Kanberry’s AML/CTF or sanctions compliance requirements.

2.5.3. The Client acknowledges and agrees that Kanberry is required to submit reports to AUSTRAC, including:

  • Suspicious Matter Reports (SMRs) – within 3 business days (or 24 hours in relation to terrorism financing);
    • Threshold Transaction Reports (TTRs);
    • International Funds Transfer Instructions (IFTIs) – within 10 business days of sending or receiving an international value transfer.

2.5.4. Transactions may be delayed, held or blocked to enable Kanberry to fulfil its reporting and compliance obligations under the AML/CTF Act. Kanberry is not required to inform the Client of the submission of any SMR or the reasons for any delay or block where doing so is prohibited by law (tipping-off prohibition).

2.5.5. The Client consents to Kanberry retaining all KYC/CDD/AML records and data for a minimum period of seven (7) years from the date of the last transaction or the termination of the business relationship (whichever is later), in accordance with the AML/CTF Act and the Anti-Money Laundering and Counter-Terrorism Financing Rules.

2.5.6. The Client consents to the disclosure of their KYC/AML information and transaction data to competent authorities (including AUSTRAC, the Australian Federal Police, and other law enforcement and regulatory agencies), other reporting entities, and third-party service Kanberrys engaged by Kanberry for compliance purposes, where such disclosure is required or permitted by law.

2.6. The Client agrees that failure to provide accurate, complete and up‑to‑date CDD/KYC information and documents upon request constitutes a material breach of these Terms and Conditions and may result in immediate suspension or termination of the Services and/or closure of the Client’s account, without prejudice to any other rights or remedies of the Company.

2.7. The Company will retain CDD/KYC records and information for the period required by applicable law and may disclose such information to competent authorities, reporting entities and other third parties where the Company is required or permitted to do so by law.

SECTION 3: SERVICES

3.1.DESCRIPTION OF SERVICES

In accordance with these Terms, Kanberry undertakes to provide you with the following services (each a «Service», and collectively the «Services»):

  • «Fiat-to-Crypto Exchange Service»: the exchange (purchase) of digital currency / virtual assets using Australian dollars (AUD) or other supported fiat currencies, executed through the Client’s Personal Cabinet;

3.2.PROCESS OF FIAT-TO-CRYPTO EXCHANGE

3.2.1. To initiate an exchange of fiat currency for digital currency, the Client shall:

  • Log into their Personal Cabinet on the Site;
  • Select the desired fiat currency (AUD) and the target digital currency / virtual asset from the list of available currencies and assets;
  • Add your digital currency wallet;
  • Follow the instructions provided in your dashboard to fund the exchange operation. Payment of the fiat amount shall be made by the Client via one of the supported payment methods (bank transfer, payment card or other method as made available by Kanberry). When funding an operation via bank transfer, the user must specify their unique reference / customer ID in the description of the payment.

3.2.2. Once your funds are received, Kanberry will deduct its fee and exchange the remaining amount to your chosen digital asset based on the current rate provided by its liquidity provider at the time of the exchange.

3.2.3. Digital currency will be credited to the Client’s provided wallet upon finalization of the exchange. Network fee will be applied.

3.2.4. The same process applies, mutatis mutandis, to Crypto-to-Fiat exchange transactions, with the relevant input and output currencies adjusted accordingly.

3.3.TRANSACTION RECEIPTS AND NOTIFICATIONS

3.3.1. Upon completion of each transaction, Kanberry shall generate a transaction information containing:

  • transaction reference number;
  • date and time of execution;
  • type of transaction;
  • amounts and currencies exchanged;
  • exchange rate applied;
  • fees and charges deducted;
  • net amount credited or debited.

3.3.2. Transaction receipts shall be made available to the Client in the Personal Cabinet and a summary notification shall be sent to the Client’s registered e-mail address.

3.4. You hereby acknowledge and agree on an ongoing basis that you cannot use the Services until you provide all the information that we request from you in accordance with Section 2 (Due Diligence). You agree that if we make a request for information in accordance with Section 2, you will stop using the Services until you provide us with the requested information and we confirm in writing that you can use the Services again.

3.5. You hereby acknowledge and agree that you must use the Services only in accordance with the laws of Australia and other applicable regional directives and that you are not entitled to use the Services in respect of transactions prohibited in these Terms or under applicable law.

3.6. You hereby acknowledge and agree that your transaction may not be processed if it exceeds your transaction limit. Unless we agree otherwise in writing with you, you acknowledge that we may from time to time set a limit on your transactions and change it in accordance with our internal policies and procedures.

3.7. You hereby acknowledge and agree that we are not obligated to provide any Services or continue to provide any Services if we have reason to believe that this will lead to non-compliance with any applicable legislation, sanctions law, or AML/CTF requirements.

SECTION 4: TRANSACTION TERMS, FEES, LIMITS AND CANCELLATION

4.1. ACCEPTANCE OF TRANSACTION TERMS AND EXCHANGE RATE

4.1.1. By initiating any transaction through the Service, the Client expressly acknowledges and agrees that:

  • all terms, conditions, fees, and other parameters applicable to such transaction, as disclosed in the interface at the time of execution, form an integral part of these Terms; and
    • the total amount of the transaction may include a currency conversion at an exchange rate determined by the Kanberry (or its partners) at the time of processing, and such exchange rate, including any applicable mark‑up, is deemed accepted by the Client as part of the overall transaction amount.

4.1.2. By proceeding with the transaction, the Client confirms acceptance of the applicable exchange rate and all associated conditions and waives any claims in respect of the conversion rate applied, provided it was disclosed or made available to the Client at the time of the transaction.

4.2. FEES, COMMISSIONS AND SPREAD

4.2.1. Kanberry charges fees for the Services, which may include:

  • exchange commission (a percentage of the transaction amount);
  • spread embedded in the exchange rate;
  • network fees for blockchain transactions;
  • deposit and withdrawal fees for fiat currency transfers;
  • third-party processing fees.

All applicable fees are displayed to the Client on the order confirmation screen before the Client accepts the Quote.

4.2.2. For each Transaction, Kanberry charge a commission equal to 1.8% of the amount you provide to us for exchange. This commission will be deducted from the amount you submit before the currency conversion is executed. In addition, your transaction may be subject to a separate network fee charged after the conversion of fiat currency into cryptocurrency. This network fee is not included in the 1.8% commission and will either be deducted from the cryptocurrency amount or charged separately, as applicable. Network fee depends and is charged by the applicable blockchain network.

4.2.3. Unless otherwise stated, all fees are exclusive of GST and any other applicable taxes, which shall be borne by the Client.

4.3. TRANSACTION LIMITS AND KYC TIERS

4.3.1. Kanberry applies transaction limits based on the Client’s KYC verification level («Tier»):

  • Tier 1 (Basic Verification – e-mail + ID document):
    • daily exchange limit of AUD 2 000;
    • monthly exchange limit of AUD 10 000;
    • Tier 2 (Enhanced Verification – Tier 1 + proof of address + source of funds declaration):
      • daily exchange limit of AUD 15 000;
      • monthly exchange limit of AUD 75 000;
    • Tier 3 (Full Verification – Tier 2 + source of wealth documentation + enhanced due diligence):
      • daily exchange limit of AUD 50 000 or such higher limit as may be approved following enhanced due diligence;
      • monthly exchange limit of AUD 250 000 or no fixed cap, subject to the Client’s risk profile and the Kanberry’s AML/CTF Program;

4.3.2. Kanberry may restrict or exclude certain countries, payment methods (cash, payment cards, bank transfers), and digital assets from the Services, based on regulatory, compliance and risk considerations. The current list of supported and unsupported countries, payment methods and assets are available on the Kanberry’s AML Politics.

4.3.3. Kanberry reserves the right to adjust limits and Tier thresholds at any time, with notice to the Client.

4.4. CANCELLATION, REFUND AND IRREVERSIBILITY

4.4.1. Once a transaction has been executed (i.e., the Client has accepted the Quote and the Trade Execution Moment has occurred), the transaction cannot be cancelled or reversed except as provided in this section.

4.4.2. Refunds of fiat currency may be issued at Kanberry’s sole discretion in the following circumstances:

  • a technical error on Kanberry’s side resulting in incorrect execution of the transaction;
    • duplicate processing of the same transaction;
    • failure by Kanberry to deliver digital currency to the Client’s wallet within the agreed timeframe for reasons attributable to Kanberry.

4.4.3. Where a refund is issued, it shall be processed to the original payment method. The refund amount shall be calculated at the exchange rate prevailing at the time of the refund (not the original transaction rate), and Kanberry may deduct any applicable fees, network costs and third-party charges incurred in connection with the original transaction and the refund.

4.4.4. THE CLIENT ACKNOWLEDGES AND AGREES THAT TRANSACTIONS ON BLOCKCHAIN NETWORKS ARE GENERALLY IRREVERSIBLE. Once digital currency has been sent to a blockchain address, Kanberry cannot reverse, recall or recover the transferred assets. The Client is solely responsible for ensuring the accuracy of the destination wallet address, the correct blockchain network, and the correct amount before confirming any withdrawal or transfer of digital currency.

4.4.5. Kanberry shall not be liable for any loss arising from the Client providing an incorrect wallet address, selecting an incompatible blockchain network, or sending digital currency to a smart contract or address that is unable to receive the relevant asset.

4.4.6. Kanberry does not offer refunds for losses arising from market movements, including decreases in the value of digital currency after a transaction has been executed.

SECTION 5: SETTLEMENTS

5.1. General principles

5.1.1. This section governs the procedure and terms of settlements between the Company and the Client arising from:

  • acceptance of payments from Payers in favour of Merchants or other recipients;
  • execution of payment transfers;
  • receipt of payment transfers; and
  • purchase, sale and exchange of virtual assets / cryptocurrencies (the «Services»).

5.1.2. By using the Services, the Client agrees that all settlements shall be carried out in accordance with these Terms and Conditions, applicable laws, the tariffs and fees schedule, as well as any additional agreements between the Client and the Company.

5.2. Currencies and settlement accounts

5.2.1. Settlements may be carried out in fiat currencies and/or virtual assets supported by the Company from time to time. The list of supported currencies and virtual assets is published on the Company’s website and may be updated unilaterally.

5.2.2. For the purpose of settlements, the Company may open and maintain for the Client one or more internal electronic accounts (wallets) used exclusively for accounting of funds and virtual assets related to the Services and not constituting a bank deposit or a segregated trust account.

5.2.3. Unless otherwise agreed in writing, settlements in fiat currency shall be made to the bank account specified by the Client, and settlements in virtual assets – to the relevant blockchain address or wallet indicated by the Client, subject to successful completion of KYC/AML checks.

5.3. Settlement of incoming payments

5.3.1. Upon successful processing of a payment or transfer in favour of the Client, the Company credits the corresponding amount (net of applicable fees and charges) to the Client’s internal account.

5.3.2. The Company may apply settlement delays (hold period) and/or rolling reserves to certain transactions or categories of Clients in order to manage fraud, chargeback and compliance risks.

5.3.3. The Company has the right to reverse a credit entry or to withhold amounts on the Client’s internal account in case of chargebacks, refunds, disputes, suspected fraud, technical errors, sanctions restrictions, or upon lawful request of competent authorities.

5.3.4. The Client is responsible for providing accurate and up‑to‑date settlement details. The Company shall not be liable for losses arising from incorrect bank account details, wallet addresses or other settlement information provided by the Client.

5.4. Payouts and withdrawal of funds

5.4.1. The Client may request a payout (withdrawal) of available balance from its internal account to its designated bank account or virtual asset wallet, subject to:

  • completion of KYC/AML/CTF procedures;
  • absence of restrictions, holds and reserves; and
  • compliance with sanctions and other regulatory requirements.

5.4.2. The Company processes payout requests within the timeframes indicated in the tariffs or on the website. Actual crediting time depends on payment systems, banks, blockchain network conditions and is outside of the Company’s control.

5.4.3. The Company may set minimum and/or maximum payout amounts, as well as daily, weekly or monthly limits.

5.4.4. All settlement amounts may be reduced by:

  • fees and commissions of the Company;
  • applicable network fees (for virtual assets);
  • third‑party processing and correspondent bank charges; and
  • amounts needed to cover chargebacks, disputes and other liabilities of the Client towards the Company.

5.5. Crypto exchange settlements

5.5.1. In case of virtual asset purchase, sale or exchange, the settlement amount in the target asset is determined on the basis of the exchange rate applied by the Company at the time of execution of the order (trade) or according to a pricing formula disclosed to the Client.

5.5.2. Due to price volatility of virtual assets, settlement amounts may differ from preliminary estimates shown to the Client at the moment of order placement; the final amount is the one reflected in the transaction confirmation and account statement.

5.5.3. The Company may temporarily suspend or delay settlements in virtual assets in case of abnormal market conditions, low liquidity, force majeure, technical failures of exchanges or blockchain networks, or in order to comply with legal and regulatory requirements.

5.5.4. The Client acknowledges and accepts the risks associated with holding and transferring virtual assets and agrees that the Company is not responsible for losses resulting from such risks, except where directly caused by the Company’s gross negligence or intentional misconduct.

5.6. Reconciliation, statements and disputes

5.6.1. The Company provides the Client with electronic statements and reports on transactions and settlements via the Personal Cabinet, API or other agreed channel. Such statements are deemed accepted by the Client unless the Client submits a written objection within thirty (30) calendar days.

5.6.2. The Client is obliged to regularly review statements and promptly inform the Company of any discrepancies, unauthorised transactions or errors.

5.6.3. In case of a dispute regarding settlements, the Parties shall first attempt to resolve it through reconciliation of records and exchange of evidence.

5.7. Set‑off, holds and refunds

5.7.1. The Company is entitled to set off any amounts owed by the Client to the Company against funds and virtual assets held on the Client’s internal accounts.

5.7.2. The Company may place a hold on settlements if: (i) there is a suspicion of fraud, money laundering or other unlawful activity; (ii) there are disputes or chargebacks; (iii) the Client breaches these Terms; or (iv) there are legal or regulatory restrictions.

5.7.3. Refunds to Payers and senders of transfers are made in accordance with the applicable refund rules, card scheme or payment system requirements.

5.8. Taxes and regulatory deductions

5.8.1. The Client is solely responsible for determining its own tax obligations and for reporting and paying all applicable taxes, duties and other mandatory payments arising from the use of the Services.

5.8.1. If the Company is obliged by law to withhold or deduct any taxes from settlements in favour of the Client, the Company may do so and remit such amounts to the competent authorities.

5.9. Changes to settlement terms

5.9.1. The Company may amend this Settlements section by publishing an updated version on its website and/or by notifying the Client.

5.9.2. Continued use of the Services after the effective date of such changes shall constitute the Client’s acceptance of the updated settlement terms.

SECTION 6: RISKS, VOLATILITY AND ABSENCE OF GUARANTEES

6.1. GENERAL RISK WARNING. Digital currencies / virtual assets are highly speculative and volatile. The value of digital currencies can fluctuate significantly over short periods of time, and may decrease to zero. Past performance of any digital currency is not indicative of future results. You should not acquire digital currencies unless you are prepared to sustain a total loss of the funds used to acquire them.

6.2. MARKET RISK. The price of digital currencies is determined by supply and demand on global markets that operate 24 hours a day, 7 days a week. Prices may be affected by events including, but not limited to: market sentiment, media coverage, regulatory changes, technological developments, security breaches, and macroeconomic factors. Kanberry does not guarantee any particular exchange rate or price and is not responsible for losses resulting from adverse market movements.

6.3. REGULATORY RISK. The regulatory environment for digital currencies in Australia and internationally is evolving. Changes in laws, regulations or regulatory guidance (including, but not limited to, changes to the AML/CTF Act, the Corporations Act, taxation treatment, or the introduction of new licensing regimes such as the proposed Digital Assets Framework) may adversely affect the value of digital currencies, the availability of certain assets on the Platform, or the ability to use the Services.

6.4. TECHNOLOGY AND SECURITY RISK. Digital currencies rely on blockchain technology, which is subject to risks including, but not limited to: network congestion, protocol vulnerabilities, 51% attacks, hard forks, smart contract bugs, and cybersecurity threats. Kanberry implements industry-standard security measures but does not guarantee that the Platform or the Client’s assets will be immune from all security threats.

6.5. LIQUIDITY RISK. Certain digital currencies may have limited liquidity, which may result in wider spreads, delayed execution, partial fills or inability to execute a transaction at the desired price or volume.

6.6. COUNTERPARTY RISK. Kanberry relies on third-party service Kanberrys, including banks, payment processors, liquidity Kanberrys and blockchain infrastructure Kanberrys. Failure or insolvency of any such third party may affect the availability of Services or the Client’s funds.

6.7. NO GUARANTEES. Kanberry does not guarantee: (i) the availability, continuity or uptime of the Platform or any specific Service; (ii) the accuracy, completeness or timeliness of market data, exchange rates or other information displayed on the Platform; (iii) that digital currencies held in the Client’s wallet will maintain their value; (iv) any return on investment or profit. The Services are provided «as is» and «as available» to the maximum extent permitted by law.

6.8. NO FINANCIAL ADVICE. Kanberry does not provide financial, investment, legal or tax advice. The information on the Site is for general informational purposes only and does not constitute a recommendation or solicitation to buy, sell or hold any digital currency. The Client should seek independent professional advice before making any decisions relating to digital currencies.

6.9. CLIENT ACKNOWLEDGEMENT. By using the Services, the Client confirms that they:

  • have read and understood the risks described in this Section;
    • accept that trading in digital currencies involves a high degree of risk;
    • are making their own independent decisions regarding transactions; and
    • have the financial capacity and willingness to bear the risk of loss.

SECTION 7: PRIVACY POLICY

7.1. Safeguarding the privacy and confidentiality of your personal information constitutes a paramount concern for Kanberry. Your acceptance of these Terms signifies acknowledgment and consent to the collection, utilization, and revelation of your personal information, subject to the tenets delineated within our Privacy Policy.

7.2. Undertake the commitment to supply accurate, comprehensive, and current information requisite for optimal service provisioning.

SECTION 8: LIABILITY

8.1. Within the parameters sanctioned by law, Kanberry’s liability under, or connection with, these Terms is delimited as follows:

  • Kanberry bears no responsibility for losses in profit, goodwill, business, revenue, or projected savings, irrespective of direct or indirect attribution.
    • Kanberry bears no responsibility for data or information losses or corruption, irrespective of direct or indirect attribution.
    • Kanberry bears no responsibility for any form of special, indirect, or consequential losses, damages, expenses, or costs.

8.2. None of the provisions within these Terms curtail or exclude liability for fraud, demise, personal injury, or any liability inviolable under law.

8.2.1. Nothing in these Terms excludes, restricts or modifies any consumer guarantee, right or remedy conferred on the Client by the Australian Consumer Law (Schedule 2, Competition and Consumer Act 2010 (Cth)) or any other applicable law that cannot be excluded, restricted or modified by agreement. To the extent that Kanberry’s liability for breach of any such consumer guarantee cannot be excluded, Kanberry’s liability is limited to the re-supply of the services or the payment of the cost of having the services re-supplied; and

8.3. Beyond the aforementioned, Kanberry’s cumulative liability emerging from or connected to these Terms shall not eclipse the equivalent value of aggregated fees accrued by Kanberry from you under these Terms.

8.4. You concur to indemnify and exonerate Kanberry and its affiliates from claims, liabilities, damages, losses, or expenses arising from, or in connection to:

  • Your utilization of the Services;
    • Your breach or purported breach of these Terms;
    • Your infringement or purported infringement of pertinent law;
    • Your violation or alleged violation of third-party rights.

8.5. Kanberry is absolved of responsibility for delays or failures in fulfilling obligations under these Terms, if originating from causes exceeding reasonable control.

8.6. You concede that Kanberry is indemnified from any action, inaction, omission, loss, injury, hindrance, or impairment engendered by circumstances beyond reasonable control, including Acts of God, telecommunications malfunction, terrorist activities, civil unrest, warfare, conflagration, or actions taken by governmental or public authorities.

8.7. Acknowledge your sole responsibility in discerning and complying with the legal precepts, norms, and regulations governing your jurisdiction’s domain, and applicable to your utilization of the Services.

8.8. Recognize that Kanberry may necessitate reporting specific transaction information to pertinent government authorities, as stipulated by applicable law, including AUSTRAC. This necessitates your cooperation in fulfilling these obligations.

SECTION 9: RESTRICTED USE AND PROHIBITED ACTIVITIES UNDER AUSTRALIAN LAW [NEW]

9.1. The Client shall not use the Services for any purpose that is unlawful under the laws of the Commonwealth of Australia, any State or Territory of Australia, or any other jurisdiction applicable to the Client or the transaction.

9.2. Without limiting the generality of the foregoing, the Client shall not use the Services:

  • to engage in, facilitate or support money laundering, terrorism financing or proliferation financing, in contravention of the AML/CTF Act and the Criminal Code Act 1995 (Cth);
    • to transact with, or for the benefit of, any person, entity or jurisdiction that is the subject of sanctions administered by the Australian Department of Foreign Affairs and Trade (DFAT) under the Autonomous Sanctions Act 2011 (Cth), UN Security Council sanctions as implemented in Australia, or any other applicable sanctions regime;
    • to evade or circumvent applicable sanctions, including by structuring transactions, using intermediaries, or layering through multiple wallets or accounts;
    • to deal in proceeds of crime or property reasonably suspected to be derived from, or used in connection with, criminal activity, in contravention of the Proceeds of Crime Act 2002 (Cth) or equivalent State/Territory legislation;
    • to facilitate ransomware payments, darknet marketplace transactions, or transactions involving mixing, tumbling or privacy-enhancing protocols designed to obscure the origin, destination or beneficial ownership of funds or digital assets;
    • to operate or promote unregistered or unlicensed financial services, managed investment schemes, or securities offerings without the required AFSL or other authorisation under the Corporations Act 2001 (Cth);
    • to facilitate or participate in market manipulation, insider trading or other conduct prohibited under Part 7.10 of the Corporations Act 2001 (Cth), to the extent applicable to digital assets;
    • to facilitate tax evasion or assist another person to evade tax obligations under Australian tax law;
    • to engage in any activity that would cause Kanberry to breach its obligations under the AML/CTF Act, the Autonomous Sanctions Act, the Privacy Act 1988 (Cth), or any other applicable law or regulation.

9.3. Kanberry reserves the right to immediately suspend or terminate the Client’s Account, block transactions, freeze funds and/or report the Client to AUSTRAC, the Australian Federal Police or other competent authorities if Kanberry reasonably suspects that the Client has engaged in or is attempting to engage in any of the activities described in this Section.

9.4. The Client shall indemnify Kanberry against all losses, costs, claims, fines and liabilities arising from the Client’s breach of this Section.

SECTION 10: TERMINATION

10.1. Kanberry reserves the prerogative to terminate these Terms and Service provision at any juncture, premised on various reasons encompassing, but not limited to:

  • Breach of these Terms;
  • Violation of pertinent laws or regulations;
  • Infringement upon third-party rights;
  • Engaging in conduct perceived as detrimental to other Service users, Kanberry, third parties, or for reasons dictated by our sole judgment.

10.2. You retain the right to terminate these Terms and Service provision at your discretion, effected through written notification to Kanberry.

10.3. Subsequent to termination:

  • Termination instantaneously concludes any rights or licenses bestowed upon you under these Terms;
  • You are mandated to cease all activities sanctioned by these Terms;
  • The Services must be expeditiously expunged from all devices under your possession.

10.3.1. Upon termination, the Client must withdraw all fiat currency and digital assets from their Account within thirty (30) calendar days. After this period, Kanberry may, at its discretion, convert digital assets to AUD at the prevailing market rate and remit the balance to the Client’s last known bank account, less any applicable fees, outstanding liabilities and network costs. Kanberry shall not be liable for any losses arising from market movements during the conversion process.

10.4. Termination leaves unaffected any accrued rights or liabilities up to the termination date, encompassing the right to claim damages pertaining to breaches of these Terms present prior to or at the date of termination.

SECTION 11: CONSUMER RIGHTS, COMPLAINTS AND DISPUTE RESOLUTION

11.1. CONSUMER RIGHTS UNDER AUSTRALIAN LAW

11.1.1. The Client’s rights under the Australian Consumer Law (ACL) are not affected by these Terms. The ACL provides consumer guarantees that cannot be excluded by contract, including guarantees that services will be provided with due care and skill, will be fit for a particular purpose (where made known), and will be provided within a reasonable time.

11.1.2. If the Client believes that Kanberry has engaged in misleading or deceptive conduct (section 18 ACL), made false or misleading representations (sections 29–37 ACL), or that any term of these Terms is unfair within the meaning of Part 2-3, Division 1 of the ACL, the Client may exercise their rights under the ACL, including by lodging a complaint with the Australian Competition and Consumer Commission (ACCC).

11.2. INTERNAL COMPLAINTS PROCEDURE

11.2.1. If the Client has a complaint about the Services, the Client should first contact Kanberry’s customer support team at e-mail or Personal Cabinet or through the complaints form available in the Personal Cabinet.

11.2.2. Kanberry will acknowledge receipt of the complaint within two (2) business days and will endeavour to resolve the complaint within thirty (30) calendar days of receipt.

11.2.3. If the complaint cannot be resolved within thirty (30) calendar days, Kanberry will inform the Client of the reasons for the delay and the expected timeframe for resolution.

11.2.4. The Client will receive a written response setting out Kanberry’s findings and, where applicable, the proposed resolution or remedial action.

11.3. EXTERNAL DISPUTE RESOLUTION

11.3.1. If the Client is not satisfied with the outcome of the internal complaints process, or if Kanberry fails to resolve the complaint within the specified timeframe, the Client may escalate the complaint to the Australian Financial Complaints Authority (AFCA), or to any other applicable external dispute resolution scheme.

11.3.2. The Client may also lodge a complaint with AUSTRAC (in relation to AML/CTF matters) or with the ACCC / relevant State or Territory fair trading body (in relation to consumer protection matters).

11.4. GOVERNING LAW AND JURISDICTION

11.4.1. These Terms are governed by and construed in accordance with the laws of the Commonwealth of Australia and the State of New South Wales.

11.4.2. Subject to the Client’s rights under external dispute resolution schemes and applicable consumer protection laws, any dispute arising out of or in connection with these Terms that cannot be resolved through the procedures described in Sections 11.2 and 11.3 shall be submitted to the exclusive jurisdiction of the courts of New South Wales, Australia.

11.4.3. Nothing in this Section prevents the Client from seeking urgent injunctive or interlocutory relief from any court of competent jurisdiction.

SECTION 12: MISCELLANEOUS

12.1. These Terms stand as the comprehensive agreement between you and Kanberry, assuming oversight over your Services utilization and supplanting any preceding agreements.

12.2. Invalidity of any provision herein, as ruled by a court of competent jurisdiction, shall not impact the validity of residual provisions, which endure in full efficacy.

12.3. Kanberry’s non-assertion of a right or provision within these Terms shall not be interpreted as a waiver of said right or provision, nor of any other right or provision.

12.4. Your assignment, delegation, or transfer of these Terms, or the rights or obligations herein, alongside your Services account, necessitates consent from Kanberry. Conversely, Kanberry may transfer, assign, or delegate these Terms, and its rights and obligations, without requisite consent.

12.5. These Terms extend bindingly to both parties, and to their successors, heirs, executors, administrators, personal representatives, and permitted assigns.

12.6. These Terms are construed and governed under the laws of Australia, irrespective of conflict-of-law principles.

12.7. Disputes, controversies, or claims emerging from or in relation to these Terms, or their breach, termination, or nullification, shall be resolved in accordance with Section «Consumer Rights, Complaints and Dispute Resolution».