Please read these Terms of Use and the Risk
Disclosure Statement carefully. By clicking the “Start trading now” button or
by accessing or using any service made available by us, you agree to be legally
bound by these Terms of Use (including the Fee Structure and Risk Disclosure
Statement), the Privacy Policy and all terms incorporated by reference in the
foregoing.
Summary of Terms of Use
We, PlayBits (hereinafter referred to as “we”
or “us”), summarize below our Terms of Use to give an overview of the key terms
that apply to your use of our website and trading services. While we hope this
summary section is helpful, you must read the complete Terms of Use below since
they provide important information about our services, our respective legal
rights and obligations, and the risks involved in trading in cryptographic
tokens.
Our Services
We provides you with a simple and convenient
way to trade one type of Digital Token for another type of Digital Token.
PlayBits provides you with a platform that matches your orders with open orders
from other users of our Services. Users are not able to predetermine a trade
with a particular user or with a particular account. Additionally, an order may
be partially filled or may be filled by multiple matching orders. As of today,
PlayBits does not provide services for the trading of legal tender (“Fiat
Currency”) for Digital Tokens or vice versa. PlayBits does not provide services
for the trading of one type of Fiat Currency for another type of Fiat Currency.
Eligibility and Acceptable Use
You must meet certain eligibility criteria to
use PlayBits services. You must be at least 18 years of age and there are
certain locations from which you may not be able to use some or all of PlayBits
services. Other eligibility criteria may also apply. Additionally, there are
certain things you cannot do when using PlayBits services, such as engage in
market misconduct or illegal activities, lie, or do anything that would cause
damage to our services or systems. Please see Section 12 below on “Acceptable
Use” for more details.
Trading Risks
Engaging in trades in cryptographic tokens
may be highly risky. Please do not use PlayBits services for trading in Digital
Tokens if you do not understand these risks.
Other Important Legal Terms
There are important legal terms provided
below in the complete Terms of Use, including your indemnification
responsibilities, our limitation of liability and warranty disclaimers, and
your agreement to arbitrate disputes. Please take the time to read these terms
carefully. You can always contact us through PlayBits Help Center if you have
any questions.
Complete Terms of Use
These Terms of Use and any terms expressly
incorporated herein (“Terms”) apply to your use of the website operated and
maintained by PlayBits (collectively, “PlayBits”, “we”, or “us”), and the
trading services provided by PlayBits as described in these Terms
(collectively, our “Services”).
1. Key Definitions
Capitalized terms not otherwise defined in
these Terms will have the following meaning:
1.1.“External Account” means any Digital
Token Account: (i) from which you may transfer Funds into your PlayBits
Account, and (ii) to which you may transfer Funds from your PlayBits Account
and which has been approved by PlayBits for the foregoing purposes.
1.2.“Funds” means Digital Tokens.
1.3.“Fiat Currency” means any national
currency.
1.4.“PlayBits Account” means a user account
accessible via the Services where Funds may be stored by PlayBits on behalf of
a user.
1.5.“Digital Tokens” means Bitcoins, PlayBits
Tokens, Ripples and other digital mediums of exchange that may be purchased,
sold or traded via the Services.
1.6.“Digital Token Account” means any Digital
Token address or account owned or operated by you that is maintained outside of
the Services, and is not owned, controlled or operated by PlayBits.
2. Eligibility
2.1. PlayBits may not make the Services
available in all markets and jurisdictions, and may restrict or prohibit use of
the Services from certain jurisdictions (“Restricted Locations”).
2.2. You further represent and warrant that
you: (a) are at least 18 years old; (b) have not previously been suspended or
removed from using our Services or other similar services provided by other
parties; (c) have full power and authority to enter into these Terms and in
doing so will not violate any other agreement to which you are a party; (d)
using our platform in your own name and solely for your own benefit; (e) are
not located in, under the jurisdiction of, or a national or resident of any Restricted
Locations (as defined in Section 2.1 above); (f) will not use our Services if
any applicable laws in your country prohibit you from doing so in accordance
with these Terms; (g) are not a designated person under regulations issued
pursuant to the lists of individuals or entities identified by the Security
Council of the United Nations or the Committee as individuals or entities to
whom or which apply the measures referred to in paragraph 8(d) of Resolution
1718 (2006)(including any such list as updated from time to time by the
Security Council or the Committee, and made available on the Internet through
the official United Nations website at http://www.un.org/) ; and (h) have read
and understood these Terms and the Risk Disclosure Statement.
2.3. PlayBits maintains an anti-money
laundering, countering the financing of terrorism and know your customer
compliance policy (the “AML/CFT Policy”). Pursuant to such policy, PlayBits
may, in its discretion, require identity verification and go through other
screening procedures with respect to you or transactions associated with your
PlayBits Account. You agree and undertake to provide PlayBits with any and all
information and documents that PlayBits may from time to time request or
require for the purposes of these Terms or in connection with your PlayBits
Account (including, but not limited to, your name, address, telephone number,
email address, date of birth, government-issued identification number,
photograph of your government-issued identity card or document or other
photographic proof of your identity, and information regarding your Digital
Token Account). PlayBits will have no liability or responsibility for any
permanent or temporary inability to access or use any Services as a result of
any identity verification or other screening procedures.
Further, pursuant to the AML/CFT Policy,
PlayBits may, in its discretion, carry out continuous monitoring of all
PlayBits Accounts. If any unusually large or unusual patterns of trades or any
inexplicable or suspicious circumstances are observed, PlayBits may, in its
discretion, place an administrative hold on or freeze your PlayBits Account.
You agree that PlayBits will have no liability or responsibility for any
permanent or temporary inability to access or use any Service caused by such
action.
2.4. Additionally, by agreeing to these terms
you certify that you pursue participation in blockchain-based networks as a
part of your professional activity and are familiar with digital tokens or
cryptographic tokens and trading in them and the risks attached to them and
their trading, including but not limited to the risks highlighted in the Risk
Disclosure Statement.
3. PlayBits Account
3.1. Number of PlayBits Accounts. PlayBits
may, in its sole discretion, limit the number of PlayBits Accounts that you may
hold, maintain or acquire.
3.2. PlayBits Account information and
security. In order to engage in any trades via the Services, you must create a
PlayBits Account and provide any requested information. When you create a
PlayBits Account, you agree to: (a) create a strong password that you do not
use for any other website or online service; (b) provide accurate, complete and
truthful information; (c) maintain and promptly update your PlayBits Account
information; (d) maintain the security of your PlayBits Account by protecting
your password and restricting access to your PlayBits Account; (e) promptly
notify us if you discover or otherwise suspect any security breaches related to
your PlayBits Account; and (f) take responsibility for all activities that
occur under your PlayBits Account and accept all risks of any authorized or
unauthorized access to your PlayBits Account, to the maximum extent permitted
by law.
3.3. You are solely responsible for doing all
things and taking all actions necessary to monitor and secure your PlayBits
Account, and to enable or receive financial or other benefits made available to
Digital Token holders.
3.4. You must not create security or any
other collateral interest over the Funds in your PlayBits Account except with
our prior written consent.
4. Privacy Policy
Please refer to our Privacy Policyfor information about how we collect, use and disclose your
personal data.
5. General Obligations
This Section 5 applies to: (i) all trades
completed via the Services, and (ii) any transaction in which you transfer
Funds into your PlayBits Account from your External Account or transfer Funds
from your PlayBits Account into an External Account.
5.1. Conditions and Restrictions. We may, at
any time and in our sole discretion, refuse any trade submitted via the
Services, impose limits on the trade amount permitted via the Services or
impose any other conditions or restrictions upon your use of the Services
without prior notice. For example, we may limit the number of open orders that
you may establish via the Services or we may restrict trades from certain
locations.
5.2. Accuracy of Information. You must
provide any information required when creating a PlayBits Account or when
prompted by any screen displayed within the Services. You represent and warrant
that any information you provide via the Services is accurate and complete.
5.3. Cancellations.
Cancellation of orders. You may only cancel
an order initiated via the Services if such cancellation occurs before PlayBits
executes the transaction. Once your order has been executed, you may not
change, withdraw or cancel your authorization for PlayBits to complete such
transaction. If an order has been partially filled, you may cancel the unfilled
remainder. We may cancel your order in the following circumstances: (i) you
have, in our view, engaged in market manipulation or abuse (as described in
Section 12.1 below); (ii) your order under the circumstances involves an
obvious error with respect to price, quantity or other parameters; (iii) your
order would result in self-execution as described in Section 7.1 below;(iv) if
required by any applicable law or regulation; and/or (v) if required for
technical reasons, such as system maintenance and/or upgrade.
Cancellation of trades. Subject to Section
7.7 below, in contrast to exchange orders, all trades are irreversible once
initiated. While we may, at our sole discretion, reverse a trade in the case of
Manifest Error or if required by any applicable law or regulation or under
certain extraordinary conditions, a customer does not have a right to a
reversal of a trade.
5.4. Insufficient Funds. If you have an
insufficient amount of Funds in your PlayBits Account to complete an order via
the Services, we may cancel the entire order or may fulfill a partial order
using the amount of Funds currently available in your PlayBits Account, less
any fees owed to PlayBits in connection with our execution of the trade (as
described in Section 9 below).
5.5. Taxes. It is your responsibility to
determine what, if any, taxes apply to the trades you complete via the
Services, and it is your responsibility to report and remit the correct tax to
the appropriate tax authority. You agree that PlayBits is not responsible for
determining whether taxes apply to your trades or for collecting, reporting,
withholding or remitting any taxes arising from any trades.
5.6. Compliance with all applicable laws and
regulations. You represent, warrant and undertake that you have and shall at
all times comply with all applicable laws and regulations in all jurisdictions
relevant to any Service provided or made available by us to you.
6. PlayBits Account Funds
6.1. Transferring Funds to your PlayBits
Account. In order to place or match an order or trade via the Services (as
described in Section 7), you must first transfer Funds to your PlayBits Account
using one of the approved External Accounts identified via the Services. You
may be required to verify that you control the External Account that you use to
load Funds to your PlayBits Account. You may be charged fees by the External
Account you use to transfer Funds to your PlayBits Account. PlayBits is not
responsible for any External Account fees or for the management and security of
any External Account. You are solely responsible for your use of any External
Account, and you agree to comply with all terms and conditions applicable to
any External Account. The timing associated with a transaction for the transfer
of Funds to or from an External Account will depend in part upon the
performance of third parties responsible for maintaining the applicable
External Account, and PlayBits makes no guarantee regarding the amount of time
it may take to transfer Funds into your PlayBits Account.
6.2. Transferring Funds to an External
Account. Provided that the balance of Funds in your PlayBits Account is greater
than any minimum balance requirements needed to satisfy all of your open orders
and trades and any fees payable to PlayBits, and subject to your compliance
with all identity verification and other screening procedures and your
satisfaction of all requirements under PlayBits’s AML/CFT Policy as provided in
Section 2.3 above, PlayBits may (but is not obligated to) agree to your request
to transfer any amount of Funds, up to the total amount of Funds in your
PlayBits Account in excess of such minimum balance requirements, from your
PlayBits Account to an External Account, less any fees charged by PlayBits for
such transactions (as described in the Fee Structure at the time of your
request to transfer Funds to an External Account).
6.3. Transfer Authorization. When you request
that we transfer Funds into your PlayBits Account from your External Account or
request that we transfer Funds to your External Account from your PlayBits
Account, you authorize PlayBits to execute such transaction via the Services.
6.4. Rejected Transactions. In some cases,
the External Account may reject your Funds or may otherwise be unavailable. You
agree that you will not hold PlayBits liable for any loss resulting from such
rejected transactions.
6.5. Ownership of Digital Tokens. You hereby
represent and warrant that any Digital Tokens transferred to your PlayBits
Account from an External Account or otherwise used by you in connection with
the Services are owned by you legally and beneficially, and that all orders,
trades and transactions initiated with your PlayBits Account are for your own
account and not on behalf of any other person or entity.
7. Exchange Orders and Trades
This Section applies when you use the
Services to trade one type of Digital Tokens for another type of Digital
Tokens. A trade is a binding agreement between you and another user to exchange
an agreed amount of one form of Digital Tokens, for an agreed amount of another
form of Digital Tokens, which exchange is supported by the Services and which
is in accordance with these Terms. PlayBits does not purchase, sell, or
exchange any Digital Tokens on its own behalf, does not provide services for
the trading of Digital Tokens for Fiat Currency and vice versa, and does not
provide services for the trading of one Fiat Currency for another Fiat
Currency.
7.1. Order Placement, Authorization. An order
is created when you enter an instruction to buy or sell a specified quantity of
a type of Digital Token at a specified price. To place an order, you must have
a sufficient amount of the relevant Funds in your PlayBits Account to cover the
total value of the order plus any applicable fees (as described in Section 9
below).
You are not able to place an order which
would result in self-execution, that is, where you would act as both the buyer
and seller in respect of the same trade. If two orders of the same quantity
would result in self-execution, both orders are cancelled.
When you submit a new order via the Services,
and it is matched with another order and it results in a trade under the
Services, you will be deemed to have authorized PlayBits to execute and settle
the trade in accordance with such order on a spot basis and charge you any
applicable fees (as described in Section 9 below).
7.2. Modes of Orders. We provide different
modes of orders for your options as described below. For the purpose of description,
the terms shall bear the below meanings:
Targeted Token: the type of Digital Token you
intended to trade upon placement of an order or orders.
Latest Market Price: the latest unit price of
the Targeted Token when the order placed by you shall be executed;
Specified Price: the unit price of the
Targeted Token, which is preset by you and shall be the final executed unit
price of the Targeted Token.
Specified Quantity: the quantity of the
Targeted Token, which is preset by you and shall be the final executed quantity
of the Targeted Token.
7.3. Market rates. You acknowledge and agree
that (i) the exchange rate information made available via our Services may
differ from prevailing exchange rates made available via other sources outside
of the Services; (ii) an order may be matched with other order(s) at a number
of different prices, based on the quantity of the order and the quantities of
existing orders on the order book at the time; and (iii) depending on the
volume and prices of orders on the order book at the time when an order is
placed, the order may be matched with another order at a price less favorable
than the most recent trade price, in some cases significantly so.
7.4. Market volatility. Particularly during
periods of high volume, illiquidity, fast movement or volatility in the
marketplace for any particular, or one or more Digital Tokens, the actual
market rate at which a trade is executed may be different from the prevailing
rate indicated via the Services at the time of your order or trade. You
understand that we are not liable for any such price fluctuations. In the event
of a market disruption or Force Majeure event (as defined in Section 22),
PlayBits may do one or more of the following: (a) suspend access to the
Services; or (b) prevent you from completing any actions via the Services,
including closing any open positions. Following any such event, when trading
resumes, you acknowledge that prevailing market rates may differ significantly
from the rates available prior to such event.
7.5. Trade Settlement. Subject to the terms
and conditions in these Terms, we will use commercially reasonable efforts to
settle trades on a spot basis within two (2) days of the date of the execution
of a user’s trade via the Services.
7.6. Error Correction Attempts. A Manifest
Error is an error or omission, which by fault of you or us or any user or third
party or due to any disruptions, errors, distortions or delays, is materially
and clearly incorrect when taking into account market conditions, rates and prices
which prevailed at that time. It may include, but is not limited to, an
incorrect price, date, time, Digital Token pair, fee, or any error or lack of
clarity of any information or source.
If an order, trade or transfer is based on a
Manifest Error (regardless of whether you or we or any other user gains from
the error) and/or executed and/or settled on the basis of Manifest Error,
PlayBits may (but is not obliged to), at its option and sole discretion, act
reasonably and in good faith to: (a) correct, reverse or cancel any order,
trade or transfer; (b) void a trade as if it had never taken place; and/or (b)
amend a trade so that its terms are the same as the trade which would have been
executed if there had been no Manifest Error.
We will exercise the foregoing rights as soon
as reasonably practicable after we become aware of the Manifest Error. To the
extent practicable we will give you prior notice of any action we take under
this clause but if this is not practicable we will give you notice as soon as practicable
afterwards. If you consider that an order, trade or transfer is based on a
Manifest Error, then you must notify us immediately. We will consider in good
faith whether it is appropriate to take any action under this Section 7.7
taking into account all the information relating to the situation, including
market conditions and your level of expertise.
You hereby authorize PlayBits to attempt
and/or perform any such correction, reversal, cancellation, voiding or
amendment described in this section. PlayBits provides no guarantee or warranty
that any such attempt will be successful and will have no responsibility or
liability for the Manifest Error or the making or failure of any correction
attempt, except if caused by the gross negligence, willful default or fraud of
PlayBits. There is a risk that you may be prejudiced by any action or omission
of PlayBits in this regard, and you accept that you have no recourse whatsoever
against PlayBits.
7.7. Independent Relationship, No Advice. You
acknowledge and agree that: (a) PlayBits is not holding monies and/or Funds as
your trustee, and is not acting as your broker, intermediary, agent, or advisor
or in any fiduciary capacity, and (b) no communication or information provided
to you by PlayBits shall be considered or construed as advice.
We shall not give advice to you on the merits
of any trade and shall deal with you on an execution-only basis. None of our
employees or staff are authorised by us to give you investment advice.
Accordingly, you should not regard any proposed trades, suggested trading
strategies or other written or oral communications from us as investment
recommendations or advice or as expressing our view as to whether a particular
trade is suitable for you or meets your financial objectives. You must rely on
your own judgement for any investment decision you make in relation to your
PlayBits Account. If you require investment or tax advice, please contact an
independent investment or tax adviser. You acknowledge and agree that you have
made your own independent analysis and decision when executing a trade and such
trades are entered into without reliance upon any views, representations
(whether written or oral), advice, recommendation, information or other
statement by us.
8. Risk Disclosure
Please refer to the Risk Disclosure Statement.
9. Fees
9.1. Amount of Fees. You agree to pay the
fees for trades completed via our Services (“Fees”) as made available via the
Fee Structure, which we may change from time to time. Changes to the Fee Structure
are effective as of the effective date indicated in the posting of the revised
Fee Structure to the Services, and will apply prospectively to any trades that
take place following the effective date of such revised Fee Structure.
9.2. Third-Party Fees. In addition to the
Fees, your External Account may impose fees in connection with your use of your
designated External Account via the Services. Any fees imposed by your External
Account provider will not be reflected on the transaction screens containing
information regarding applicable Fees. You are solely responsible for paying
any fees imposed by an External Account provider.
9.3. Payment of Fees. You authorize us, or
our designated payment processor, to charge or deduct your PlayBits Account
Funds for any applicable Fees owed in connection with trades you complete via
the Services.
10. Electronic Notices
10.1. Consent to Electronic Delivery. You
agree and consent to receive electronically all communications, agreements,
documents, receipts, notices and disclosures (collectively, “Communications”)
that PlayBits provides in connection with your PlayBits Account and/or use of
the PlayBits Services. You agree that PlayBits may provide these Communications
to you by posting them via the Services, by emailing them to you at the email
address you provide. You should maintain copies of electronic Communications by
printing a paper copy or saving an electronic copy. You may also contact us
through support to request additional electronic copies of Communications or,
for a fee, paper copies of Communications (as described below).
10.2. Hardware and Software Requirements. In
order to access and retain electronic Communications, you will need a computer
with an Internet connection that has a current web browser with cookies enabled
and 128-bit encryption. You will also need to have a valid email address on
file with PlayBits and have sufficient storage space to save past
Communications or an installed printer to print them.
10.3. Withdrawal of Consent. You may withdraw
your consent to receive electronic Communications by contacting PlayBits Help
Center. If you decline or withdraw consent to receive electronic
Communications, PlayBits may suspend or terminate your use of the Services.
10.4. Requesting Paper Copies. If, after you
consent to receive Communications electronically, you would like a paper copy
of a Communication we previously sent you, you may request a copy within 30
days after the date we provided the Communication to you by contacting PlayBits
Help Center. In order for us to send paper copies to you, you must have a
current street address on file with PlayBits. Please note that PlayBits
operates exclusively online and it is very burdensome for us to produce paper
copies of Communications. Therefore, if you request paper copies, you
understand and agree that PlayBits may charge you a processing fee, in the
amount described in the Fee Structure, for each page of Communication
requested.
10.5. Updating Contact Information. It is
your responsibility to keep your email address on file with PlayBits up to date
so that PlayBits can communicate with you electronically. You understand and
agree that if PlayBits sends you an electronic Communication but you do not
receive it because your email address on file is incorrect, out of date,
blocked by your service provider, or you are otherwise unable to receive
electronic Communications, PlayBits will be deemed to have provided the
Communication to you. Please note that if you use a spam filter that blocks or
re-routes emails from senders not listed in your email address book, you must
add PlayBits to your email address book so that you will be able to receive the
Communications we send to you. You can update your email address at any time by
logging into your PlayBits Account or by contacting PlayBits Help Center. If
your email address becomes invalid such that electronic Communications sent to
you by PlayBits are returned, PlayBits may deem your account to be inactive,
and you may not be able to complete any transaction via our Services until we
receive a valid, working email address from you. We shall not be liable for any
failure of communication (for any reason).
11. Unclaimed or Disputed Property
If for any reason PlayBits is holding Funds
in your PlayBits Account, such Funds remain unclaimed, and PlayBits is unable
to return your Funds to your designated External Account after a period of
three years after your last login to PlayBits or any specified period notified
by PlayBits, and PlayBits determines in good faith that it is not able to trace
you, you agree that all such Funds shall be deemed to have been abandoned by
you in favour of PlayBits and may be appropriated by PlayBits to and for
itself, and you thereafter shall have no right to claim such Funds.
If PlayBits receives notice that any Digital
Tokens held in your PlayBits Account are alleged to have been stolen or
otherwise are not lawfully possessed by you, PlayBits may, but has no
obligation to, place an administrative hold on or freeze the affected Digital
Tokens or your PlayBits Account. If PlayBits does place an administrative hold
on or freeze some or all of your Digital Tokens, PlayBits may continue such
hold until such time as the dispute has been resolved and evidence of the
resolution acceptable to PlayBits has been provided to PlayBits in a form
acceptable to PlayBits. PlayBits will not involve itself in any such dispute or
the resolution of the dispute. You agree that PlayBits will have no liability
or responsibility for any losses, damages or prejudice arising from or in
connection with such hold or freeze, or for your inability to withdraw Digital
Tokens or execute trades during the period of any such hold or freeze.
12. Acceptable Use
12.1. When accessing or using the Services,
you agree that you will not violate any law or any contractual, intellectual
property or other third-party right or commit a tort, and that you are solely
responsible for your conduct while using our Services. Without limiting the
generality of the foregoing, you agree that you will not:
Use our Services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services or bring disrepute
1.The purpose of this Privacy Policy is to
inform you and provide you with an understanding of how PlayBIts (“PlayBits” or
“we” or “us” or “our”) handles, collects, uses, discloses and deals with
personal data about you (“User”) that you give us, that we receive through
third parties or that is in our possession. Further, this Privacy Policy
governs the manner in which PlayBits collects, uses, maintains and/or discloses
personal data collected from Users of the PlayBits.co website (“Site”). To
provide you with our Services, we might need (and sometimes obliged by the law)
to collect your personal data.
2.We take our responsibilities under the
Constitution of Malta and Malta’s Data Protection Act seriously. We also
recognize the importance of the personal data you have entrusted to us and
believe that it is our responsibility to properly manage, protect and process
your personal data.
3.This privacy policy applies to the Site and
all Services offered by PlayBits.
Personally
identifiable information
4.We may collect personally identifiable
information from Users in a variety of ways, including, but not limited to,
when Users visit our Site, register on the Site, place an order, and in
connection with other activities, services, features or resources we make
available on our Site. Users may be asked for, as appropriate, name, email
address, mailing address, phone number. Users may, however, visit our Site
anonymously. When interacting with us on the Site, Users can always refuse to
supply personal data to us, except that it may prevent them from engaging in
certain Site related activities or transactions.
Non-personally
identifiable information
5.We may collect non-personally identifiable
information about Users when they interact with our Site.
What
Information Do We Collect?
6.“Personal data” used in this Privacy Policy
is to mean data, whether true or not, about an individual who can be identified
from that data, or from that data and other information to which an
organization has or is likely to have access. PlayBits collects information
about you when you use our websites (including the Site) and other online
products and services and throughout other interactions and services you have
with us. Personal data which we may collect include:
1. Name
2. Home Address
3. Contact Information
4. Transactional Information
5. Usage and Preferences
6. Identification number
7. Account Number
We will collect your personal data in
accordance with the legislative purpose of the DPA.
7.We may also collect and store certain
information automatically when you visit the Site. Examples include the
internet protocol (IP) address used to connect your computer or device to the
internet, connection information such as browser type and version, your
operating system and platform, a unique reference number linked to the data you
enter on our system, login details, the full URL clickstream to, through and
from the Site (including date and time), cookie number and your activity on our
Site, including the pages you visited, the searches you made and, if relevant,
the products/services you purchased.
8.We may receive information about you from
third parties if you use any websites or social media platforms operated by
third parties (for example, Facebook, Instagram, Twitter etc.) and, if such
functionality is available, you have chosen to link your profile on the Site
with your profile on those other websites or social media platforms.
Cookies
9.We may use cookies to identify you from
other users on the Site.
10.A cookie is a small file of letters and
numbers that we store on your browser or the hard drive of your computer or
device.
11.You can block or deactivate cookies in
your browser settings.
12.We use log-in cookies in order to remember
you when you have logged in for a seamless experience.
13.We use session cookies to track your
movements from page to page and in order to store your selected inputs so you
are not constantly asked for the same information.
14.This Site uses Google Analytics which is
one of the most widespread and trusted analytics solution on the web for
helping us to understand how you use the Site and ways that we can improve your
experience. These cookies may track things such as how long you spend on the
Site and the pages that you visit so we can continue to produce engaging
content.
15.By continuing to use the Site, you are
agreeing to the use of cookies on the Site as outlined above. However, please
note that we have no control over the cookies used by third parties.
16.For further information on types of
cookies and how they work visit www.allaboutcookies.org
Purposes
For Collection, Use, Disclosure And Processing Of Your Personal Data
17.PlayBits will/may collect, use, disclose
and/or process your personal data for one or more of the following purposes:
(a)administering, facilitating, processing
and/or dealing in any matters relating to your use or access of the Site,
including identifying you for login to the Site, our portals and other online
services provided by or on behalf of us;
(b)monitoring, processing and/or tracking
your use of the Site in order to provide you with a seamless experience,
facilitating or administering your use of the Site, and/or to assist us in
improving your experience in using the Site;
(c)assessing and processing your request for
the purchase of and/or subscription to our products and/or services;
(d)registering you as a customer of PlayBits
and/or to deal with, process and/or administer the account that you may open
with us, whether a membership account or otherwise, including to facilitate
your transactions or activities on the Site, or your transactions or activities
with us;
(e)administering, facilitating, processing
and/or dealing with your relationship with us, any transactions or activities
carried out by you on the Site or with us. This includes processing your
application, orders and payment transactions; implementing transactions and the
supply of products and/or services to you that you have requested;
(f)carrying out your instructions or
responding to any enquiry given by (or purported to be given by) you or on your
behalf including responding to your enquiries and complaints; or responding to
or dealing with your interactions with us;
(g)contacting you or communicating with you
via phone/voice call, text message and/or fax message, email and/or postal mail
for the purposes of administering and/or managing your use of the Site, your
membership and/or account with us, your relationship with us or any
transactions made by you with us. You acknowledge and agree that such
communication by us could be by way of the mailing of correspondence, documents
or notices to you, which could involve disclosure of certain personal data
about you to bring about delivery of the same as well as on the external cover
of envelopes/mail packages;
(h)providing services to you as our account
holder, as our customer, or when requested by you; dealing with or
administering your participation in contests, gamification, social events
organized by us;
(i)understanding your interests, concerns and
preferences;
(j)identifying you and assisting you in your
use of our products, services and website services;
(k)for marketing purpose and in this regard,
we would be providing you with marketing, advertising and promotional
information, materials and/or documents relating to products, contests,
services and/or events (including those of third party organisations with which
PlayBits may collaborate with) that PlayBits (including its affiliates/related
corporations) or such third party organisations may be selling, marketing,
offering, organizing, involved in or promoting, whether such products, services
and/or events exist now or are created in the future:
(i)by way of postal mail, electronic
transmission to your email address(es), and/or through other modes of
communication that is not the 3 DNC Modes, in compliance with applicable local
data protection law (i.e. the DPA). You may opt out of this or withdraw from
this at any time by sending an email to our Data Protection Officer. For the
avoidance of doubt, the application of or your acceptance of or your consent
to, this Privacy Policy, constitutes your consent to this subparagraph (i);
(ii)if you have separately expressly
consented to one or more of the following 3 DNC Modes, by way of the 3 modes of
communications of voice calls, text messages or faxes (the “3 DNC Modes”) to
your telephone number, in compliance with the requirements of applicable local
data protection law (i.e. the DPA); and/or
(iii)Notwithstanding (ii) above, regardless
that you have not separately provided express consent as aforementioned in (ii)
above, PlayBits reserves its right to send a specified fax message and/or a
specified text message (i.e. a marketing fax message or marketing text message)
to your telephone number, to which PlayBits reserves the right for final
interpretation;
(l)carrying out due diligence or other
screening activities (including background checks) in accordance with legal or
regulatory obligations (whether foreign country) applicable to us or our affiliates/associated
companies, the requirements or guidelines of governmental authorities (whether
foreign country) which we determine are applicable to us or our
affiliates/associated companies, and/or our risk management procedures that may
be required by law (whether foreign country) or that may have been put in place
by us or our affiliates/associated companies;
(m)to prevent or investigate any fraud,
unlawful activity or omission or misconduct, whether or not there is any
suspicion of the aforementioned; dealing with conflict of interests; or dealing
with and/or investigating complaints;
(n)complying with or as required by any
applicable law, court order, order of a regulatory body, governmental or
regulatory requirements, of any jurisdiction applicable to us or our
affiliates/associated companies, including meeting the requirements to make
disclosure under the requirements of any law binding on us or our
affiliates/associated companies, and/or for the purposes of any guidelines
issued by regulatory or other authorities (whether of elsewhere), with which we
or our affiliates/associated companies are expected to comply;
(o)complying with or as required by any
request or direction of any governmental authority (whether foreign country)
which we are expected to comply with; or responding to requests for information
from public agencies, ministries, statutory boards or other similar authorities
(whether foreign country). For the avoidance of doubt, this means that we
may/will disclose your personal data to such parties upon their request or
direction;
(p)conducting research (including customer
research), surveys, market surveys, analysis and/or development activities
(including but not limited to data analytics, surveys and/or profiling) to
improve our services and facilities, or to improve our understanding of your
interests, concerns and preferences, in order to enhance any continued
interaction between yourself and us connected or in relation to the Site, or
improve any of our products or services;
(q)storing, hosting, backing up (whether for
disaster recovery or otherwise) of your personal data, whether within or
outside
(r)facilitating, dealing with and/or
administering external audit(s) or internal audit(s) of the business of
PlayBits or that of its affiliates/related corporations;
(s)to create reports with respect to our
transactions with you, and/or producing statistics and research of such
transactions for internal and/or statutory reporting and/or record-keeping
requirements;
(t)dealing with and/or facilitating a
business asset transaction or a potential business asset transaction, where
such transaction involves PlayBits as a participant or involves only a related
corporation or affiliated company of PlayBits as a participant or involves
PlayBits and/or any one or more of PlayBits’s related corporations or
affiliated companies as participant(s), and there may be other third party
organisations who are participants in such transaction. “business asset
transaction” means the purchase, sale, lease, merger or amalgamation or any
other acquisition, disposal or financing of an organisation or a portion of an
organisation or of any of the business or assets of an organisation;
(u)anonymization of your personal data. In
this regard, you acknowledge that personal data that has been anonymized is no
longer personal data and the requirements of applicable local data protection
law (i.e. the DPA) would no longer apply to such anonymized data;
(v)PlayBits, PlayBits Group Companies’
reporting purposes including but not limited to reporting on PlayBits’s
business performance (“PlayBits Group Companies” means PlayBits, its
affiliates, related corporations and associated companies globally); including
producing statistics and research for internal and/or statutory reporting
and/or record-keeping requirements, of PlayBits or of its affiliates/related
corporations; and/or
(the purposes set out above shall be
collectively referred to as the “Purposes”).
18.PlayBits may/will need to disclose your
personal data to third parties, whether located within, for one or more of the
above Purposes, as such third parties, would be processing your personal data
for one or more of the above Purposes. In this regard, you hereby acknowledge,
agree and consent that we may/are permitted to disclose your personal data to
such third parties (whether located within) for one or more of the above
Purposes and for the said third parties to subsequently collect, use, disclose
and/or process your personal data for one or more of the above Purposes.
Without limiting the generality of the foregoing or of paragraph 17, such third
parties include:
(a)our associated or affiliated organisations
or related corporations;
(b)any of our agents, contractors or third
party service providers that process or will be processing your personal data
on our behalf including but not limited to those which provide administrative
or other services to us such as mailing houses, telecommunication companies, information
technology companies and data centres; and
(c)third parties to whom disclosure by us is
for one or more of the Purposes and such third parties would in turn be
collecting and processing your personal data for one or more of the Purposes.
19.You may withdraw your consent for the
collection, use and/or disclosure of your personal data in our possession or
under our control by emailing us at [email protected] We will process your
request [within a reasonable time] from such a request for withdrawal of
consent being made, and will thereafter not collect, use and/or disclose your
personal data in the manner stated in your request, unless an exception under
the law or a provision in the law permits us to. However, your withdrawal of
consent could result in certain legal consequences arising from such
withdrawal, including us being unable to perform the transactions requested by
you in the Site.
20.We may collect, use, disclose or process
your personal data for other purposes that do not appear above. However, we
will notify you of such other purpose at the time of obtaining your consent,
unless processing of your personal data without your consent is permitted by
the DPA or by law.
21.We may/will also be collecting from
sources other than yourself, personal data about you, for one or more of the
above Purposes, and thereafter using, disclosing and/or processing such
personal data for one or more of the above Purposes. We may combine information
we receive from other sources with information you give to us and information
we collect about you. We may use this information and the combined information
for the Purposes set out above (depending on the types of information we
receive).
How we
protect your personal data
22.We adopt appropriate data collection,
storage and processing practices and security measures to protect against
unauthorized access, alteration, disclosure or destruction of your personal
data, username, password, transaction information and data stored on our Site.
23.Sensitive and private data exchange
between the Site and its Users happens over a SSL secured communication channel
and is encrypted and protected with digital signatures. Our Site is functioning
in compliance with PCI vulnerability standards in order to create as secure of
an environment as possible for Users.
24.We will put in place measures such that
your personal data in our possession or under our control is destroyed and/or
anonymized as soon as it is reasonable to assume that (i) the purpose for which
that personal data was collected is no longer being served by the retention of
such personal data; and (ii) retention is no longer necessary for any other
legal or business purposes.
Sharing
your personal information
25.We do not sell, trade, or rent Users’
personally identifiable information to others. We may share generic aggregated
demographic information not linked to any personally identifiable information
regarding visitors and users with our business partners, trusted affiliates and
advertisers for the purposes outlined above.
Rights
26.You have the right to ask us not to use
your personal data for marketing purposes. Please let us know if you want to
withdraw your consent by emailing us at [email protected]
27.You have the right to access and/or
correct any personal data that we hold about you, subject to exceptions under
the law. This right can be exercised at any time by emailing us at
[email protected] We will need enough information from you in order to
ascertain your identity as well as the nature of your request, so as to be able
to deal with your request. With respect to your access request, we may charge a
fee in order to process it.
28.For a request to access personal data,
once we have sufficient information from you to deal with the request, we will
seek to provide you with the relevant personal data within 30 days. Where we
are unable to respond to you within the said 30 days, we will notify you of the
soonest possible time within which we can provide you with the information
requested.
29.For a request to correct personal data,
once we have sufficient information from you to deal with the request, we will
correct your personal data within 30 days. Where we are unable to do so within
the said 30 days, we will notify you of the soonest practicable time within
which we can make the correction. We will send the corrected personal data to
every other organization to which the personal data was disclosed by us within
a year before the date the correction was made, unless that other organization
does not need the corrected personal data for any legal or business purpose.
30.We hold and deal with your data in
accordance with the DPA.
Complaint
Process
31.If you have any complaint or grievance
regarding about how we are handling your personal data or about how we are complying
with the DPA (when in force), we welcome you to contact us with your complaint
or grievance.
32.Please contact us with your complaint or
grievance by emailing us at [email protected]
33.Where you are sending an email in which
you are submitting a complaint, your indication at the subject header that it
is a DPA complaint would assist us in attending to your complaint speedily by
passing it on to the relevant staff in our organization to handle. For example,
you could insert the subject header as “DPA Complaint”.
34.We will certainly strive to deal with any
complaint or grievance that you may have speedily and fairly.
Changes
to this privacy policy
35.PlayBits has the discretion to update this
privacy policy at any time. We encourage Users to frequently check this page
for any changes to stay informed about how we are helping to protect the
personal information we collect. You acknowledge and agree that it is your
responsibility to review this privacy policy periodically and become aware of
modifications.
Your
acceptance of these terms
36.By using this Site, you signify your
acceptance of this policy and Terms of Use. If you do not agree to this policy,
please do not use our Site.
General
37.Your consent that is given pursuant to
this Privacy Policy is additional to and does not supercede any other consents
that you had provided to PlayBits with regard to processing of your personal
data.
38.For the avoidance of doubt, in the event
that data protection law permits an organisation such as us to collect, use or
disclose your personal data without your consent, such permission granted by
the law shall continue to apply.
If you have any queries on this Privacy
Policy or any other queries in relation to how we may manage, protect and/or
process your personal data, please do not hesitate to contact our Data
Protection Officer at [email protected]
The PlayBits
AML Policy is designed to prevent money laundering, including the need to have
adequate systems and controls in place to mitigate the risk of the firm being
used to facilitate financial crime. This AML Policy sets out the minimum
standards which must be complied with and includes:
The
appointment of a Money Laundering Reporting Officer (MLRO) who has sufficient
level of seniority and independence and who has responsibility for oversight of
compliance with relevant legislation, regulations, rules and industry guidance;
● Establishing
and maintaining a Risk Based Approach (RBA) towards assessing and managing the
money laundering and terrorist financing risks to the company;
● Establishing
and maintaining risk-based customer due diligence, identification, verification
and know your customer (KYC) procedures, including enhanced due diligence for
those customers presenting higher risk, such as Politically Exposed Persons
(PEPs);
● Establishing
and maintaining risk based systems and procedures to monitor on-going customer
activity;
● Procedures
for reporting suspicious activity internally and to the relevant law
enforcement authorities as appropriate;
● The
maintenance of appropriate records for the minimum prescribed periods;
● Training and
awareness for all relevant employees
Counter
Financing of Terrorism (CFT)
The Company
takes a risk-based approach when adopting and implementing counter financing of
terrorism (CFT) measures and in conducting AML risk assessments.
The company
adopted internal CFT controls and make undefended decisions regarding CFT
matters supersedes any business, strategic or other operating task.
International
Sanctions Policy (ISP)
Our company
is prohibited from transacting with individuals, companies and countries that
are on prescribed sanctions lists.
Know Your
Customer Procedures (KYC)
Individuals
can be identified by passport or other identification document and utility
bills stating their current post address. Companies have to be identified by
extracts from the Chamber of Commerce or by notary deed. Copies have to be made
and archived in files securely.