General Terms & Conditions (EN translation)

1. Scope of application and conclusion of contract

​

1.1. ecrop GmbH, Untere Nabburger Straße 10, 92224 Amberg, registered in the Commercial Register at Amberg Local Court under HRB 7049 ("ecrop" or the "Registrar") provides crypto securities registry services pursuant to Section 1 (1a) sentence 2 no. 8 KWG in conjunction with Section 16 eWpG. § Section 16 eWpG. to issuers and holders of crypto securities, persons in favour of whom a restriction on disposal pursuant to Section 17 para. 2 sentence 1 no. 1 eWpG or a right pursuant to Section 17 para. 2 sentence 1 no. 2 eWpG is entered in the crypto securities register of the Registrar or persons who are granted access to the functions of the register on the basis of an agreement with the Registrar (collectively referred to as "users"). Register management does not constitute custody within the meaning of the German Securities Deposit Act, investment brokerage or issuing business.

1.2. The services contained in these General Terms and Conditions are provided exclusively on the basis of these General Terms and Conditions and the applicable statutory provisions.

1.3. Conflicting terms and conditions of users are only valid if and insofar as the registrar expressly agrees to their validity in writing. The formal reference to the user's own terms and conditions of business is contradicted by ecrop.

1.4. ecrop reserves the right to enter into individual, written agreements with users that take precedence over these GTC.

1.5. The currently valid version of the GTC can viewed on the website www.ecrop.de.

2. Definitions

The following terms shall have the meaning assigned to them in these terms and conditions, unless otherwise expressly stipulated below in individual cases:

 

• "GTC" means these General Terms and Conditions of ecrop GmbH for the crypto securities register.

• "Connected Platform" means a platform for the acquisition of and trading in crypto securities pursuant to section 2 eWpG, consisting of an app and/or associated websites for which the registrar assumes responsibility for the crypto securities register on the basis of a separate agreement. The use of the respective Connected Platform is based on mandatory law and any contracts, such as General Terms and Conditions for the Use of the Connected Platform, which the Connected Platform must make available. Reference is made to them in this regard. In the event of contradictions, these Terms and Conditions shall take precedence over the Platform Terms and Conditions with regard to the services of the Registrar.

• "BGB" means the German Civil Code as amended from time to time.

• "Beneficiary" is the person who holds the right arising from a crypto security.

• "ecrop wallet" refers to ecrop's technical solution for the user in the sense of a digital safe deposit box. In simple terms, the user's private cryptographic keys are stored here in encrypted form without the registrar having direct access.

• "Issuer" means a company that issues crypto securities and draws up the terms and conditions of issue.

• "eWpG" means the Electronic Securities Act as amended from time to time. "External User" means a nonregistered user who can submit a request to utilise individual services by email via the Website (as defined below).

• "AMLA" means the Act on the Tracing of Profits from Serious Crime, as amended from time to time.

• "Holder of a crypto security" means the person who is entered in a crypto securities register as the holder of a crypto security or a specific share in an overall issue.

• "Crypto security" means an electronic security within the meaning of Section 2 eWpG that is entered in a crypto securities register maintained by the registrar.

• "Crypto securities register" means a crypto securities register within the meaning of Section 16 eWpG that is maintained by the registrar. It is also referred to as the "register".

• "KWG" means the German Banking Act as amended from time to time.

• "Onboarding process" means the process of accepting users, which in particular involves establishing and verifying their identity, collecting certain information about the user and verifying the information and details.

• "User" means issuers and holders of crypto securities, persons in favour of whom a restriction on disposal pursuant to Section 17 para. 2 sentence 1 no. 1 of the German Securities Trading Act has been entered in the crypto securities register of the registrar. 3 eWpG or a right pursuant to Section 17 para. 2 sentence 1 no. 2 eWpG or persons who are granted access to the functions of the register on the basis of an agreement with the registrar.

• "Platform Authentication" means the signature of the utilisation of a service via the Connected Platform (as defined below) using the private key of a Registered User. "

• Politically Exposed Person" means the term "Politically Exposed Person" within the meaning of the AMLA as amended from time to time. This includes, but is not limited to, persons who hold the following positions: Heads of state, heads of government, ministers, members of the European Commission, deputy ministers and state secretaries, members of parliament and members of comparable legislative bodies, members of the governing bodies of political parties, members of supreme courts, constitutional courts or other high courts against whose decisions there is normally no longer any right of appeal, members of the governing bodies of courts of auditors, members of the governing bodies of central banks, ambassadors, chargés d'affaires and defence attachés, members of the administrative, management and supervisory bodies of state-owned companies, directors, deputy directors, members of the governing body or other heads with a comparable function in an intergovernmental international or European organisation.

• "Registrar" means ecrop GmbH, Untere Nabburger Straße 10, 92224 Amberg, Germany, entered in the commercial register at Amberg Local Court under HRB 7049.

• "Registered User" means a User who is already registered to use a Connected Platform and has successfully completed an onboarding process there.

• "Transfer" means the replacement of the holder of an electronic security entered in the electronic securities register by a new holder.

• "Consumer" means a user who is a consumer within the meaning of Section 13 BGB.

• "Website" means the website of the registrar, which can accessed at www.ecrop.de.

• "Beneficial owner" means a beneficial owner within the meaning of Section 3 AMLA. This includes, in particular but not exclusively, the natural person who ultimately owns or controls a legal entity, other company or legal organisation or the natural person at whose instigation a transaction is ultimately carried out or a business relationship is ultimately established. In addition, in the case of legal entities, beneficial owners include any natural person who directly or indirectly holds more than 25 per cent of the capital shares, controls more than 25 per cent of the voting rights or exercises control in a comparable manner.

 

3. Subject matter of the GTC

 

3.1. The registrar operates and maintains a crypto securities register within the meaning of Section 16 eWpG and in accordance with the legal requirements. The GTC refer to

(1) Entry in the crypto securities register (Section 8 eWpG);
(2) Amendment of the register content (Section 18 eWpG);
(3) Transfers (Sections 4 (8), 18 (4) eWpG);
(4) Granting of inspection and information (§ 10 eWpG);
(5) Issuing of register extracts (§ 19 eWpG).

 

hereinafter collectively referred to as "Services", the contract the provision of a Service, which incorporates these GTC, as "Contract".

3.2. In particular, the services of the registrar do not include

 

(1) Investment brokerage or advisory services of any kind;
(2) The operation of a trading platform or a secondary market;
(3) The issuing business;
(4) The crypto custody business;
(5) The custody business in accordance with the Custody Act;
(6) Processing of payments, including payments with e-money.

 

4. Authorisation and identification of users; use of services

 

4.1. The registrar is obliged to identify users prior to their entry in the crypto securities register in accordance with the provisions of the GwG and the terms and conditions of issue, to verify the identity of the user and to collect and certain information about the user. As Users can therefore only be authorised if they have successfully completed an onboarding process.

 

4.2. Registered users do not have to go through a new onboarding process, provided that the registrar has the information specified under 4.1 and that all data and information is up-to-date, correct and has been verified.

 

4.3. Non-registered users must successfully complete an onboarding process before utilising individual services. Parts of the onboarding process are carried out by the registrar and/or a service provider commissioned by the registrar. To complete the onboarding process, the External User must in particular have an official identification document that contains a photograph and fulfils the passport and identification requirements in Germany (e.g. identity card or passport). For identification purposes, the External User must first provide personal details (nationality, place of birth, date of birth, residential address) and confirm that he/she is not a politically exposed person, a family member of an exposed person or a person known to be closely associated with a politically exposed person and is not subject to tax liability in the USA. The External User is then forwarded to a video identification procedure of a KYC provider (e.g. Postident) and follows the instructions of the KYC provider's employee. The identification finalised by confirming the successful identification the user or by asking the user to repeat the process if errors have occurred. The Registrar may request further information from the External User for verification as part of the onboarding process.

 

4.4. Users may only be (i) natural persons or legal entities or partnerships who are of legal age, have unlimited legal capacity, (ii) not persons and/or companies who are US citizens, have their place of business there and/or are taxable in the USA (iii) and who act in their own name and in their own economic interest and not for the account of third parties or at the instigation of others. The registration of legal entities and/or partnerships may only be carried out by the authorised representative(s). Users confirm that they are acting exclusively for their own account and not for the account of third parties (e.g. no trusteeship).

 

4.5. Users may not become users if they are subject to insolvency proceedings or reorganisation or winding-up proceedings. If insolvency proceedings are opened or reorganisation liquidation proceedings are initiated during the course of the contractual relationship, the user shall inform the registrar of this immediately.

 

4.6. These GTC shall be made available to Registered Users by email upon registration, if applicable via the Connected Platform, at the latest upon utilisation of a service via the Connected Platform and otherwise upon request before the onboarding process is carried out, and the current version can be accessed on the website atwww.ecrop.de/agb at any time. Before using a service, the user acknowledges these terms and conditions and agrees to their validity when using the service.

 

4.7. Subject to compliance with the other provisions of these Terms and Conditions, the Registered User may use the Services after successfully completing an onboarding process. A prerequisite for the use of the Services is that the User has an end device that corresponds to the current state of the art and fulfils the relevant specifications that are stated as minimum requirements on the Connected Platform and/or website. In addition, the use of the Services requires the User to have an Internet connection with a sufficient data transfer rate and sufficient storage space on the User's end device. The user must keep the end device used to access the services up to date and have anti-virus protection installed. The user is responsible for ensuring that the technical requirements are met.

 

5. Obligations of the users

 

5.1. The user undertakes to ensure that, for the duration of the contract, all details provided and data and other information made available are always truthful and up to date. Any changes to the user's information, in particular all changes to the information provided during the onboarding process, must be communicated to the registrar immediately and directly without being requested to do so. The user shall submit the documents required for this purpose to the registrar without delay. The user recognises that he has a duty to cooperate with regard to the fulfilment of the registrar's due diligence obligations.

 

5.2. The User shall comply with the requirements of supervisory law applicable to it. If the legal requirements for the Registrar or the User with regard to the service offered in the contract or its GTC change, both parties shall immediately with these GTC and fulfil the changed legal requirements. This applies in particular to changes to regulatory provisions including the administrative practice of BaFin or changes that become necessary on the basis of audits carried out.

 

5.3. The user is obliged to refrain from issuing instructions if he is unable to fulfil his obligations to the Registrar.

 

5.4. The user is obliged,

(1) not to use the services improperly and only in accordance with the applicable law of the country in which the services are provided or used;
(2) not to take any measures aimed at circumventing technical protection measures of the services and to refrain from any form of unauthorised use of the services, in particular attempts to overcome or circumvent the security mechanisms of the services or otherwise disable them, to use computer programs that enable the automatic reading data, as well as to use/implement and/or distribute viruses, worms, Trojans, brute force attacks, spam, links or other programs or procedures that are likely to harm the Registrar, the services and/or other users;
(3) to take all necessary and reasonable steps to prevent or minimise damage caused by the use of the services;
(4) not to the services for money laundering or other illegal activities;
(5) not to participate in illegal, in particular fraudulent, activities and not to promote them;
(6) not to use, utilise or operate bots or other forms of automation and/or multiple accounts when using the Services;
(7) not to modify, adapt or decompile the services.

 

6. Additional obligations of issuers

 

6.1. The issuer shall take the necessary technical and organisational measures to ensure the integrity and authenticity of the crypto securities for the entire duration for which the crypto security is registered.

 

6.2. If fulfilment of the requirements applicable to the crypto securities register is no longer ensured, the issuer must take remedial action within a reasonable period of time.

6.3. The issuer undertakes to arrange for the publications in the Federal Gazette in accordance with Section 20 eWpG.

 

7. Establishment and maintenance of the crypto securities register

 

7.1. The registrar shall maintain the crypto securities register during the term of the agreement, taking into account the current state of the art, in such a way that the confidentiality, integrity and authenticity of the data are guaranteed. This includes, in particular, measures to protect the crypto securities register against unauthorised access by third parties, for example in the form of unauthorised changes to data. The Registrar shall take the necessary technical and organisational measures to this end.

 

7.2. The Registrar shall take reasonable precautions to ensure that the Crypto Securities Register accurately reflects the existing legal situation at all times and that entries and transfers are complete and correct.

 

7.3. The Registrar shall take the necessary technical and organisational measures in accordance with the current state of the art to prevent data loss for the entire duration for which the crypto securities are registered.

 

8. Entry in the crypto securities register

 

8.1. The crypto security is entered in the crypto securities register by the registrar at the instigation of the issuer on the basis of the information provided by the issuer.

8.2. The information must fulfil the requirements of Section 17 (1) eWpG and contain directly recognisable references to the terms and conditions of the issue.
 

8.3. The holder of the crypto security is identified by assigning a unique identifier.

 

9. Changes to the register content

 

9.1. The registrar shall only make changes to the register details pursuant to section 13 para. 1 eWpG on the basis of an instruction.

 

9.2. The holder is authorised to issue instructions, unless the registrar is aware that the holder is not authorised, or a person or body authorised to do so by law, on the basis of a law, by legal transaction, by court decision or by enforceable administrative act. In the event of a restriction on disposal pursuant to section 17 para. 2 sentence 1 no. 1 eWpG, the holder must, in addition to his instructions, assure the registrar that the persons benefiting from the restrictions on disposal given their consent to the change. In the case of section 17 para. 2 sentence 1 no. 2 eWpG, the registered third party shall take the place of the holder. The registrar shall time-stamp the receipt of the instructions. The registrar may assume that the holder has issued an instruction if the instruction was issued using a suitable authentication instrument.

 

9.3. Instructions and user consents provided for under the eWpG must be transmitted to the registrar via the Connected Platform and under Platform Authentication or via the website. The Registrar accepts the instructions and time-stamps the receipt of the instructions. The Registrar reserves the right to make
changes to this process.

 

9.4. The registrar may only make changes to the information pursuant to Section 17 para. 1 nos. 1 to 5 and 7 eWpG and cancel an entry and its recorded terms and conditions of issue with the issuer's consent, unless otherwise stipulated by law.

 

9.5. Changes to the content of the register shall only be made in the order in which the corresponding instructions are received by the registry administrator (priority principle). The registry administrator shall provide the change to the registry content with a time stamp that can be viewed by the users.

 

9.6. The registry administrator shall take reasonable precautions to ensure that changes are clear, occur within a reasonable time and cannot invalidate the transaction on the crypto securities registry's recording system.

 

9.7. If the Registrar makes a change to the content of the register without instructions or consent, the Registrar shall cancel the change immediately. Art. 17 GDPR remains unaffected. An amendment to correct obvious inaccuracies shall not be cancelled.

 

10. Transfer

 

10.1. The transfer of ownership of a crypto security to another person ("acquirer") pursuant to Section 13 para. 1 no. 6 eWpG requires the prior instruction of the authorised party. The transfer takes place when the authorised party sends an instruction to the registrar via the Connected Platform or the website, which clearly states that both agree that ownership should be transferred. Authentication takes place via the signature of the transaction, which must be carried out using a private key that can be assigned to the identity of the authorised party.

 

10.2. The transfer only takes place if the transaction has been authenticated by the registrar. Authentication takes place via platform authentication or via a separate onboarding process.

 

10.3. The authorised person must provide the following data for the transfer:

​

• the unique identification number of the cryptocurrency

• the public network address of the acquiring person and

• the number of units.

 

10.4. The registrar shall ensure within the meaning of Section 18 (4) eWpG that the transfer takes place within a reasonable period of time.

 

11. Inspection / Publicity

11.1. Users can call up the register details relating to them in the crypto securities register at any time.

 

11.2. The registrar shall also grant access to the crypto securities register to anyone who demonstrates a legitimate interest.

 

11.3. Information that goes beyond the information in the electronic securities register on the registered crypto security may only be provided by the registrar in accordance with Section 10 (2) eWpG. Requests for information may only be submitted to the registrar via the website.

 

11.4. The person requesting inspection must specify the register entry and the period or date for which inspection is requested. In addition, it must be stated whether he is a user or whether he is claiming a legitimate interest in inspection. If the applicant invokes a legitimate interest in inspection, they must state the circumstances from which the legitimate interest in inspection arises. The application is made by e-mail toregister@ecrop.de or via the website. The registrar reserves the right to make changes to this process.

 

11.5. A competent supervisory, regulatory or law enforcement authority when submitting its application that the inspection is necessary to fulfil its statutory duties. § Section 10 para. 4 sentence 2 eWpG in conjunction with Section 34 para. 4 sentence BMG remain unaffected.

 

11.6. The registrar shall keep a record of inspections in accordance with Section 10 (5) eWpG.

 

12. Information

 

12.1. The registrar shall only provide information that goes beyond the information in the crypto securities register on the registered crypto security, including information on the identity and address of the holder, insofar as

(1) the person requesting the information demonstrates a particular legitimate interest;
(2) the provision of the information is necessary for the fulfilment of the interest; and
(3) the interests of the data controller in the protection of his personal data do not outweigh the interests
of the person requesting the information.

 

12.2. The request for information must be sent exclusively by email toregister@ecrop.de .

 

12.3. The person requesting information must specify the information and the period or date for which information is being requested. The person requesting information shall state whether they are the controller or indicate the circumstances from which the particular legitimate interest in the information
arises. A competent supervisory, regulatory or law enforcement authority shall that the information necessary for the fulfilment of its statutory duties when submitting its application. § Section 10 para. 4 sentence 2 eWpG in conjunction with Section 34 para. 4 sentence 1 BMG remain unaffected.

 

12.4. Statutory rights to information under data protection law or other regulations remain unaffected and are explained in more detail in the privacy policy.

 

13. Register extract

 

13.1. Upon request, the Registrar shall provide the authorised person with an extract from the register in text form if this is necessary to exercise his rights.

 

13.2. If the holder of a crypto security is a consumer, the registrar shall provide him with an extract from the register in text form at the following times in accordance with Section 19 (2) eWpG:

(1) after entry of a crypto security in the register in favour of the holder,
(2) any change to the content of the register that affects the holder, and
(3) once a year.

13.3. Requests for the issue of an extract from the register must be submitted to the Registrar by the holder of the crypto securities in accordance with Clause 12. The Registrar reserves the right to make changes to this process.

 

14. Register secrecy

 

14.1. Irrespective of the provisions of Sections 11 and 12 of the Terms and Conditions, the Registrar shall maintain register secrecy in accordance with Section 10 eWpG. The Registrar shall therefore only provide information on circumstances that are not already apparent from the register data contained in the Crypto Securities Register, including information on the identity and address of the Holder, to the extent that this is necessary:

• the person requesting information demonstrates a particular legitimate interest,
• the provision of the information is necessary for the fulfilment of the interest and the interests of the controller or creditor in the protection of their personal data do not outweigh the interest of the person requesting the information.

 

14.2. The holder of a crypto security always has a particular legitimate interest in relation to a crypto security registered in his name. The same applies to an authorised person regard to the register details concerning him.

 

15. Opening a digital safe deposit box (wallet)

 

15.1. If, as part of the registration with the Registrar or via a Connected Platform, a digital safe deposit box has been created for each User to manage their own crypto securities ("Wallet"), the following provisions shall also apply in addition to the Wallet Agreement concluded between the parties. Costs for a Wallet shall only be incurred if these have been explicitly agreed with the User on the basis of an additional cost agreement.

 

15.2. The wallet is a secure technical solution for the storage and self-administration of crypto securities. The user's private cryptographic key is generated and stored directly on their mobile phone. Consequently, the user only has access to his crypto securities via the app of the Connected Platform. The registrar has no access to the user's login data or private cryptographic key. Other user data in connection with the wallet may stored by the registrar. The data is stored on the basis of legal requirements and in accordance with the data protection terms and conditions of the registrar, available at www.ecrop.de/datenschutz. The blockchain on which the wallet is based is a private chain operated by ecrop. Ecrop provides further information in this regard on request and/or on its homepage at www.ecrop.de.

 

15.3. The user receives direct access to his wallet via his self-defined login data with the registrar or the Connected Platform.

 

15.4. To be able to use the wallet, the user must fulfil the following requirements:

(1) Acting in one's own name and in one's own economic interest and not at the instigation of others with disclosure of the beneficial owner(s) (within the meaning of the GwG),
(2) the registration of legal entities/partnerships may only be carried out by the authorised representative(s),
(3) Users confirm that they are acting exclusively for their own account and not for the account of third parties (e.g. no trusteeship),
(4) Persons and/or companies who are US citizens and/or subject to tax in the USA are excluded from using the platform and the wallet.

 

15.5. After successful registration, the following functions are available to the user:

(1) The user can view the crypto securities assigned to their wallet on the blockchain.
(2) If the registered device is lost or destroyed, if the registered device is replaced by a new one or if the login data is lost, the registrar will grant access to a new wallet to which the securities acquired by the user are assigned after a new, successful KYC check.

 

15.6. For security reasons, in particular in the event of manipulation attempts, the registrar reserves the right to make the full functionality of the wallet available again to the user who has made use of the recovery function only after an additional identity check.

 

16. Copyrights

 

16.1. The Registrar shall endeavour to ensure the greatest possible availability of the Crypto Securities Register and the services within the scope of what is technically possible and economically reasonable. Maintenance periods, periods of insignificant functional impairments and partial or completely restricted
availability pursuant to Section 14.3 shall be disregarded when calculating availability.

 

16.2. Maintenance work, security and capacity reasons, technical or operational circumstances and events beyond the control of the registrar may lead to temporary or permanent unavailability of the services. The registrar may temporarily restrict the availability of the services in whole or in part (maintenance
times) due to capacity limits, security or integrity of the servers or due to technical measures that serve the proper or improved provision of the services. Where possible, maintenance times shall be after 8 p.m. and before 8 a.m. German time.

 

16.3. In particular, the Registrar shall not be responsible for any fully or partially restricted availability that 

 

• are due to causes beyond the control and responsibility of the Registrar;

• arise from the use of services, hardware or software not provided or expressly recognised by the Registrar;

• are caused by the user's use of a service after the Registrar has instructed the user to change the use and the user has not changed the use as instructed;

• is caused by an unauthorised act or omission of a required act by the User or its employees, agents or other persons or otherwise by the User's failure to take reasonable security precautions; or

• was caused by the User's failure to carry out necessary configurations and updates or by the use of the Services that is not compatible with the functions of the Services or does not comply with the assistance published by the Registrar.

 

17. Functional impairments of the services, updates

 

17.1. If there is a functional impairment of the Crypto Securities Register, the User shall inform the Registrar via the Connected Platform or the website, describing the functional impairment. The Registrar is not obliged to rectify a specific functional impairment, but shall provide updates that are necessary to maintain conformity with the contract, rectify functional impairments and fulfil legal or regulatory requirements. The user is obliged to provide any assistance required for updates.

 

17.2. The registrar shall perform the maintenance of the crypto securities register in accordance with the usual technical standard. An error in the maintenance of the crypto securities register does not exist in particular if it is immaterial or is caused by an error:

​

 

• through the use of unsuitable display software or hardware (e.g. browser) by the user;

• due to the failure to transmit or incorrect transmission of an instruction by the user;

• due to failure of or connection problems to a user's device;

• due to a disruption of the communication networks (e.g. but not exclusively line or power failure) at the Registrar or other operators;

• by a computer failure due to system failure or line failure.

 

18. Responsibility of the Registrar

 

18.1. The Registrar expressly points out that it is not responsible for third-party services, in particular the safekeeping and transfer of crypto securities.
 

18.2. The registrar is not responsible for the economic success of acquired crypto securities, the default of payments or the risk of insolvency of the issuer.

 

18.3. Issue terms and conditions are drawn up by issuers of crypto securities and filed with the registrar. The registrar stores these on the website and makes them freely available. Access to the terms and conditions of issue may be restricted by the registrar. The registrar does not check that the terms and conditions of issue are up to date, correct and complete and is not responsible for this. Responsibility for this lies exclusively with the issuer of the crypto security.

 

18.4. Insofar as the Registrar provides links to external third-party websites, i.e. to content provided by other providers, in particular issuers, the Registrar has no influence on the content of these directly or indirectly linked websites and is not responsible for them. If users are of the opinion that the linked external sites violate applicable law or otherwise inappropriate content, they can notify the Registrar via the Connected Platform or the website so that it can remove these links.

 

19. Prevention of money laundering and terrorist financing

 

19.1. The User represents and warrants (i) that it will not use the Services in any way for any purpose that violates applicable law and further represents and warrants (ii) that the assets used will not be derived from any unlawful acts, including acts related to money laundering, terrorist financing or other acts that
applicable law, (iii) that it will not use the proceeds of criminal or illegal activity in connection with the Services; and (iv)
that the Services will not be used to facilitate or engage in criminal or illegal activity, including activity
related to money laundering, terrorist financing or other activities that applicable law.

 

19.2. The User warrants that, at the time of the conclusion of the contract, no criminal or official investigations are pending against the User or any company affiliated with the User, senior employees or shareholders of the User in connection with the User's business activities.

 

19.3. The user that upon conclusion of the contract

​

(1) not to be included on a sanctions list of the United Nations, the European Union or the Federal
Republic of Germany; and
(2) not to act indirectly (e.g. as a representative or messenger) for a person on one of the
aforementioned sanctions lists.

 

19.4. Should one of the events listed under 19.3. occur after the contract has been concluded, the user undertakes to inform the registrar immediately and to cease all use of the services without delay.

 

20. Liability

 

20.1. The registrar shall only be liable for any damage caused by slight negligence in the event of a breach of a contractual obligation whose fulfilment characterises the contract and on which the user may rely (cardinal obligations) and limited to the foreseeable damage typical of the contract. Sentence 1 shall not
apply in the event of damage resulting from injury to life, limb or health or in cases of mandatory liability, in particular liability for cases in which a procurement risk or a guarantee for damage has been assumed, in the event of liability under the Product Liability Act, liability under the GDPR and other mandatory provisions (in particular Section 7 (2) and (3) eWpG). In addition, strict liability for defects that already exist at the time the contract is concluded is excluded. Liability in accordance with sentence 1 is also excluded for indirect damages, such as loss of profit.

 

20.2. In particular, the Registrar shall not be liable for

(1) delays in the performance of individual services for which the Registrar is not responsible; and
(2) Facts that are based on use contrary to the contract or unauthorised changes by the user or third parties.

 

21. Legal succession

21.1. In the event of legal succession by reason of death, the crypto security or the existing right to it shall to the heirs. The contractual relationship shall be continued by the registrar with the heirs.

 

21.2. Heirs are obliged to legitimise themselves vis-à-vis the registrar immediately after the succession by submitting a certificate of inheritance or proof of inheritance in accordance with Section 35 of the Land Register Code (GBO). Several heirs must nominate a joint representative to the registrar to exercise the rights arising from this agreement. The rights of the heir(s) under this agreement shall be suspended until the legitimisation of the heir(s) and, if applicable, the appointment of a joint representative.

 

22. Data protection / Confidentiality

 

22.1. The Registrar processes personal data in accordance with the data protection information available atwww.ecrop.de/datenschutz ; this is not part of these terms and conditions.

 

22.2. The Registrar points out that the information stored in the crypto securities register cannot be deleted due to its immutability.

 

23. Amendment of the GTC

 

23.1. Provided that the user is not unreasonably disadvantaged, ecrop reserves the right to amend the GTC at any time with effect for the future for the following reasons:

(1) for legal or regulatory reasons;
(2) for security reasons; to further develop or optimise existing features of the services offered and to add additional features;
(3) to take account of technical progress and make technical adjustments and
(4) to ensure the future functionality of the services offered.

 

23.2. The amended GTC will be made available to users under the link www.ecrop.de/agb .

 

23.3. The user shall be notified of changes within a reasonable period before the new GTC come into force. However, no later than four weeks before the effective date, the user of the platform shall receive notification of the amended GTC at the e-mail address provided by the user or via a connected
platform.

 

23.4. If the user does not object to the validity of the amended GTC before the proposed date entry into force of the amendment, the amended GTC shall be deemed accepted by the user. ecrop shall inform the user of the significance of this deadline and the legal consequences of any silence in the notification of
amendment.

 

24. Consent to the transfer of the licence agreement in the event of a transfer of business or sale of the
platform

 

24.1. The user agrees to the transfer of its licence agreement to a third party in the event of structural measures, in particular the sale of the company in part or in full. The same applies in the event of a sale of shares in a company affiliated with ecrop within the meaning of Section 15 AktG.

 

24.2. The rights and obligations of the User that may be transferred in the above cases include all services, whether or not they are paid services, documentation, hosted services, intellectual property rights, maintenance services, personal data and other data and confidential information of the User, Platform services, support services, runtime and any other functionality, source code, data or database relating to the crypto securities registry and wallet.

 

25. Supervision

 

The Registrar is subject to supervision by the Federal Financial Supervisory Authority.

 

26. Dispute resolution

 

26.1. Pursuant to Art. 14 (1) of Regulation (EU) No. 524/2013 on Online Dispute Resolution (ODR Regulation), the Registrar is legally obliged to inform a consumer of the European Online Dispute Resolution Platform (ODR Platform) of the European Commission. The consumer can reach this at http://ec.europa.eu/consumers/odr/.

 

26.2. The registrar has not joined any voluntary (private) arbitration board for alternative dispute resolution. In the event of disputes between the registrar and the users in connection with the services, consumers have the option, without prejudice to the right to appeal to the courts, of appealing to an arbitration centre set up at the Federal Financial Supervisory Authority (ZRC 3, Graurheindorfer Straße 108, D-53117 Bonn, phone: 0228 / 4108-0, fax: 0228 / 4108-62299, e-mail: schlichtungsstelle@bafin.de). The registrar is obliged and willing to participate in a dispute resolution procedure before this consumer arbitration board.

 

27. Final provisions

 

27.1. All amendments and additions to the terms and conditions must be made in text form in accordance with § 126b BGB to be effective.

 

27.2. Should individual provisions of these terms and conditions be or become invalid or ineffective in whole or in part, this shall not affect the validity of the remaining provisions. Any General Terms and Conditions that are not included or are invalid shall be replaced by statutory law (Section 306 (2) BGB). In all other respects, the parties shall replace the void or ineffective provision with an effective provision that comes as close as possible to it in economic terms, unless a supplementary interpretation of the contract takes precedence or is possible. The same applies in the event of contractual loopholes.

 

27.3. All legal relationships between the user and the registrar are subject to German law, excluding the UN Convention on Contracts for the International Sale of Goods and the provisions of German international private law. If the user is a natural person who concludes a legal transaction for purposes that cannot be
attributed primarily to his commercial or independent professional activity (consumer within the meaning of Section 13 BGB) and does not have a place of residence in the Federal Republic of Germany, this shall not apply if mandatory provisions of the law of the country in which the user has his habitual residence provide otherwise.

 

27.4. If the user has no general place of jurisdiction in Germany or in another EU member state, or if he is a merchant or a legal entity under public law, the exclusive place of jurisdiction for all disputes arising from this contract shall be the registered office of the registrar.

 

27.5. In the event of a dispute regarding the content or interpretation of the GTC, the German version shall prevail. The English version is merely a non-binding translation.