These Terms and Conditions are a legal contract and govern access to our Site and
Last updated on 19 September 2017
1. General Use
You are only permitted to access the Services if you are an Approved User. This means you must
meet all of
the following criteria:
- If you are an individual, you must be legally residing in New Zealand aged 18 years or
- If you are an entity, you must be incorporated and residing in New Zealand.
- You must have the capacity and, in the case of an entity, be authorised, to enter into and
to be bound
- You must provide all of the information required to set up a User Account under clause 2.1.
- Dasset must be satisfied with the outcome of the identity, fraud, background checks, and
money-laundering and terrorist financing checks it (or any third party) conducts in relation
to you at any
1.2 Your general agreements and promises
By accessing the Services, you:
- promise that, if you are an individual, you are residing in New Zealand aged 18 years or
older with the
capacity to enter into and be bound by the Terms and Conditions and the Privacy
- promise that, if you are an entity, you are incorporated and residing in New Zealand; have
are authorised, to enter into and be bound by the Terms and Conditions and the Privacy
Policy; and the
person acting on your behalf is authorised to do so;
- authorise Dasset to make any inquiries it considers necessary, from time to time, to verify
identity, undertake fraud checks, and to meet its anti-money laundering and other legal
- confirm that you have read the Important
you access our Site and/or use our Services, and promise to comply with them;
- promise to pay all fees associated with the Transactions and the Services which are set out
in the Fee
Schedule, accessible here, and any additional miner fees.
- promise to ensure that any personal information you provide to Dasset is accurate, current
and relates solely to you, and to update us if it changes;
- promise to provide us with any additional information which we request to comply with our
responsibilities as soon as is reasonably practicable;
- confirm that you have sufficient knowledge of Digital Currencies to enter into Transactions,
understand that you are solely responsible for determining the nature, potential value,
appropriateness of the Services;
- confirm that you accept the risks of using the Services and accessing the Site, and have
understand the “Risks of Use” set out here;
- agree to arbitration on the terms set out in clause 16.2 (Arbitration) of these Terms and
- acknowledge that Dasset has not advised you to, nor recommended to you that you should, use
or deal in Digital Currencies.
2. Your User Account
2.1 Creating a User Account
To use the Services, you must first create your registered User Account and have it activated.
- To set up your User Account you must provide your name, an e-mail address, set a password
your acceptance of these Terms and Conditions and the Privacy
clicking the “Sign Up” button. We also strongly recommend that you enable the “2-factor
option in the ‘Security Settings’.
- To have your User Account activated, we must receive the following verified information:
- for an individual, your full name, gender, date of birth and occupation, and
driver’s licence or
- for an entity, your legal registration number and GST registration number (if
- your phone number
- your residential or business address and previous addresses
- confirmation as to whether you are the beneficial owner of the account (that is,
are you the sole person who exercises effective control over the account and owns
the account) and, if
not, the equivalent information for each other beneficial owner of the account
- any additional information, such as photo identification, needed to comply with laws
enhanced due diligence requirements under the anti-money laundering laws or FATCA,
or source of funds
2.2 Purpose of your User Account
Once established, you can access the Services through your User Account. Specifically, your User
- is linked to your Legal Tender Account and your Digital Currency Wallet (see clauses 3 and 4
- contains a record of your Transactions.
We recommend that you only log into your User Account directly through the Dasset Site (www.dasset.co.nz) and only access the Dasset Exchange
through the trading
site (dassetx.com). This will minimise the risk of you
exposing your User Account or Dasset Wallets to unauthorised access or attacks.
2.3 Your promises in relation to your User Account
- to create a strong password for your User Account. This means you must select a password
different from any other password you use for any other website or online service, and which
easily guessed. You must change your password at regular intervals, and immediately if you
password has been compromised;
- to keep your User Account login and password and any forms of multi-factor authentication
and separate from each other, as well as separate from any other information or documents
relating to your
User Account or Dasset Wallets (and your private key(s));
- not to let any person access your User Account or your Dasset Wallets at any time without
- not to leave your computer, phone or other device unattended while you remain logged in to
Account or your Dasset Wallets;
- not to open more than one User Account without our prior written permission; and
- to notify us immediately if you identify or suspect any unauthorised access of your User
Account or your
2.4 Your confirmations in relation to your User Account
You confirm that:
- Dasset may make inquiries directly or through third parties which we consider necessary to
identity and/or to protect against fraud, terrorism financing or money-laundering;
- you understand that you are responsible for maintaining the security of your User Account
password, any forms of multi-factor authentication and your private key(s);
- you understand that anyone accessing your User Account will be able to enter into
your Dasset Wallets, and Dasset has no obligation to verify or take any steps to verify any
received from you or appearing to be sent by you; and
- you understand that, by using the Services, you are fully responsible for and accept all
unauthorised access to your User Account or to your Dasset Wallets which is caused by your
breach of these Terms and Conditions.
3. Your Legal Tender Account
3.1 Purpose of your Legal Tender Account
You can use your Legal Tender Account to fund the purchase of Digital Currencies, and to receive
proceeds of sale of your Digital Currencies, using the Services.
3.2 Activating your Legal Tender Account
To activate your Legal Tender Account, you must:
- link it to a New Zealand registered bank account in your name; and
- transfer funds from that bank account to the Dasset Custodial Bank Account which will then
by an update to the balance of your Legal Tender Account.
The only Legal Tender which can currently be held in your Legal Tender Account is New Zealand
Dasset will not charge any fees in relation to deposits into or withdrawals from the Dasset
3.5 Operation of your Legal Tender Account
- Dasset will maintain a separate bank account with ANZ (the Dasset Custodial Bank Account).
- The funds you transfer to the Dasset Custodial Bank Account will be pooled with funds
it by other Approved Users.
- We undertake to you that the credit balance of the Dasset Custodial Bank Account will at all
times be an
amount equal to the aggregate value of the amount of Legal Tender transferred to and
received in clear
funds to that account by all Approved Users at that time, less the amount of any fees at
- You will have no right to earn interest on the amount of Legal Tender reflected in your
Account. Dasset will retain the amount of any interest earned on the balance of the Dasset
Account to cover costs incurred in operating the account and providing the Services.
- Once Dasset confirms receipt of Legal Tender from you in cleared funds into the Dasset
Account, the value of the transferred Legal Tender less any applicable fees will be credited
to your Legal
Tender Account as soon as is practicable.
- Dasset will not use, nor permit the use, of any of the funds held in the Dasset Custodial
for any corporate purpose, nor charge or encumber it in any manner. We will require the
account bank to
waive its set-off rights in respect of the Dasset Custodial Bank Account.
- Please note that Legal Tender held in the Dasset Custodial Bank Account is not money
deposited with or
lent to or owing by Dasset to you. Upon transferring any Legal Tender into the Dasset
Account, the legal rights to those funds will be vested in the account holder, as account
holder. You will
have a beneficial right to funds in the Dasset Custodial Bank Account equal to the face
value of the
credit balance of your Legal Tender Account, less any fees you owe to Dasset. The funds in
Custodial Bank Account are owed to the account holder by the account bank.
- When you authorise a withdrawal from your Legal Tender Account, Dasset will immediately
debit your Legal
Tender Account for the withdrawn amount. Funds will be received into your nominated bank
account at a New
Zealand-registered bank within three (3) business days, net of any applicable bank fees and
- We will send you an email confirmation of all deposits into or withdrawals from your Legal
- Certain deposit or withdrawal requests may not be processed outside of normal banking hours.
typically process deposits and withdrawals within one (1) business day.
- You are not permitted to charge or to use your entitlement to funds in the Dasset Custodial
your rights to your Legal Tender Account, as security for any purpose.
3.6 Your confirmations in relation to your Legal Tender Account
You confirm you understand that:
- you alone are permitted to access your Legal Tender Account, and to transfer funds to it and
funds from it;
- if you have initiated a Transaction which will involve the application of funds from your
Account, those funds will be held and unavailable for other use from the time you initiate
until the time it has settled or been cancelled; and
- the credit balance of your Legal Tender Account is not guaranteed by Dasset nor any other
(including, for the avoidance of doubt, any New Zealand government-backed deposit insurance
scheme or any
bank or insurer).
4. Your Digital Currency Wallet
4.1 Purpose of your Digital Currency Wallet
Your Digital Currency Wallet allows you to send supported Digital Currencies to, and to receive
supported Digital Currencies from, third parties on your instructions, using the Services.
4.2 Supported Digital Currencies
- Dasset currently supports the list of Digital Currencies reflected on our exchange site,
accessible here. However, the nature of the Digital Currencies that
Dasset supports is subject to
change, and could change without notice to you if this is required as a result of law, any
order of a
court of governmental agency, any change to the operating rules in the underlying Digital
network, or any technological issue outside of our reasonable control.
- Dasset supports only the “advanced protocols” reflected on our exchange site, accessible here. It does not support any other protocols such as metacoins,
side chains, or other derivative, enhanced or forked protocols, tokens or coins which
interact with a Digital Currency supported by Dasset.
Dasset will charge the Transaction fees set out in the Fee Schedule, accessible here.
In addition, all Transactions need to be confirmed by ‘miners’ which group transactions into
add those blocks to the relevant network underlying the specific Digital Currency. When making a
Currency Deposit, you may need to pay the applicable ‘miner fee’ (i.e. network fee) to confirm
transaction on the network. To do this, you need to make sure your transaction includes a
fee to be confirmed. Insufficient fees will delay the processing of a Transaction. Dasset may
fees to process a Digital Currency withdrawal on your behalf. If we do so, Dasset will calculate
fee in our discretion and notify you of the amount of the fee at or before the time you
4.4 Operation of your Digital Currency Wallet
- We will send you an email confirmation of all transactions relating to your Digital Currency
- Dasset securely stores all Digital Currency private keys in our control in a combination of
offline storage. As a result, it may be necessary for Dasset to retrieve certain information
storage in order to facilitate a Digital Currency Transaction in accordance with your
may delay the initiation or crediting of the relevant Digital Currency Transaction for up to
48 hours, or
longer in some circumstances.
4.5 Your confirmations in relation to your Digital Currency Wallet
You confirm that you understand and accept the following:
- Dasset will process your Transactions in accordance with your instructions, and you should
verify all instructions before placing any Orders. If there is an error in those
instructions, then that
is your risk and Dasset does not accept any responsibility or liability.
- When you transact with another Approved User through the Site (a
is a risk that the Counterparty may cancel the Transaction before the order is executed. You
that Dasset cannot require a Counterparty to complete any Transaction and is not responsible
for any such Counterparty default. If you believe a Counterparty has behaved in a misleading
manner, or otherwise in breach of these Terms and Conditions, please notify us immediately
firstname.lastname@example.org so that we can determine what action, if any, to take.
- Your Digital Currency Wallet is available only in connection with the Digital Currencies
supports at any time, in its discretion. As set out in clause 4.3 above, these supported
Currencies are subject to change. Dasset assumes no responsibility or liability for any
attempt to use
your Digital Currency Wallet for Digital Currencies that Dasset does not support at that
- Dasset does not control or own any of the underlying networks or software protocols that
operation of the Digital Currencies supported by Dasset.
- Dasset does not stand behind or underwrite any Transaction you enter into using the Dasset
- A Digital Currency Withdrawal may be delayed as a result of Dasset retrieving information
- Dasset has the right to refuse to process or to cancel any pending Order or Transaction at
any time if
it is required to do so at law or in response to a court or government order, or to enforce
limits, or if any Suspension Event occurs.
- Digital Currencies are a risky asset class and trading in Digital Currencies increases those
confirm that you have read the Risks of Use set out here and
agree to accept those risks.
- The amount or value of the Digital Currencies in your Digital Currency Wallet is not
underwritten by Dasset nor by any other person, and you could lose the Digital Currencies,
or the value of
the Digital Currencies, stored in your Digital Currency Wallet in a short period of time. In
you will have no recourse to Dasset or to any other person for your loss (including loss of
any liability or inconvenience that results.
5. Dasset Ledger
Dasset maintains a private exchange ledger (the Dasset Ledger) to track each
User’s Legal Tender Account balance and the Digital Currencies reflected in his or her Digital
Entries in the Dasset Ledger are not recorded on a blockchain or otherwise published. Only
Digital Currencies into, or transfers of Digital Currencies out of, your Digital Currency Wallet
confirmed and visible on a blockchain.
6. Dasset Transactions
6.1 Transaction Services
Dasset offers Approved Users the ability to enter into the following Transactions in accordance
Terms and Conditions:
- Buy Transactions
- Sell Transactions; and
- Exchange Transactions.
Dasset does not currently offer any margin trading, options trading, or shorting.
Dasset does not make any warranty or representation in relation to any Counterparty and cannot
a Counterparty will perform its Transaction obligations.
Please note: A Transaction is not complete while it is in a pending state. Funds
associated with Transactions that are in a pending state will be designated as such and will not
available to conduct other Transactions (including withdrawals).
6.2 Access to Transaction Services
We can impose any conditions or restrictions on your access to the Transaction Services at any
prior notice. These may include limits on the number or value of Transactions.
6.3 Transaction Limits
We may impose Transaction limits from time to time. In particular, we reserve the right to review
withdrawals and to request further information before releasing funds for regulatory and fraud
6.4 Cancellation of Transactions
You cannot revoke or cancel an Order once you have placed it. However, you can submit a request
the Transaction to which that Order relates by clicking on the ‘Cancel Sells’ or ‘Cancel Buys’
All’ button (as appropriate) on the Dasset Exchange dashboard (a Cancellation
The Cancellation Request will only be effective if you submit it before the Order is filled.
However, Dasset can unilaterally cancel any Transaction if:
- it considers this necessary or prudent due to a suspicion that the Transaction involves
laundering, terrorist financing or another illegal activity;
- it relates to a Prohibited Use; or
- it is required to do so by a court order or government agency.
6.5 Transaction Records
Dasset maintains the records of these offers in our Order Book. When Dasset’s trading engine
and sell offers in our order book, we record the trade on our Dasset Ledger. This transfers
ownership of the
seller’s traded Digital Currencies to the relevant buyer.
7. Buy Transactions
7.1 Nature of a Buy Transaction
All Buy Transactions:
- involve the purchase of supported Digital Currencies with Currency from your Currency
Account at the
Market Rate; and
- settle immediately, provided a sufficient amount of Currency has been pre-loaded to your
- are recorded on our Dasset Ledger.
7.2 Buy Transaction process
- You can place an order to buy Digital Currency (a Buy Order) on the Dasset
doing so, you authorise Dasset to initiate debits from the applicable Dasset Wallet and
transfer to your Digital Currency Wallet.
- When you place a Buy Order, the full amount of purchase price and associated fees in
Currency will be
placed on hold or marked as pending in your Legal Tender Account. This means you cannot
withdraw or use
those funds for any other purpose until the Buy Transaction settles, expires or is
- After your Buy Order has been placed, we will send you an email when it has completed, or if
it has only
been partially filled, as applicable.
- We will use all reasonable efforts to fulfil any Buy Order. However, if we cannot fulfil
your Buy Order,
we may notify you by email and seek your order to fulfil the Buy Order at the Market Price.
- Dasset reserves the right to unilaterally cancel any unfilled portion of any Buy Order that
best bid or best offer by more than twenty percent (20%) in either direction, or is
7.3 Buy Limits
You can enter a Stop Limit or an Order Limit for your Buy Transaction on the Dasset Exchange
7.4 Partial completion
If a Buy Transaction order only partially fills, the amount of Currency required to settle the
(including fees) will remain on hold until the remaining Buy Order is filled, expires, or is
7.5 Your confirmations in relation to Buy Transactions
In placing any Buy Order or entering into any Buy Transaction, you confirm your understanding of,
agreement to, the following:
- It is your responsibility to confirm the Buy Transaction details are accurate, including the
Digital Currencies you intend to buy, the amount of any fees, the gross purchase price for
your Buy Order,
and the amount and nature of the Digital Currencies to be transferred into your Digital
- Once placed, a Buy Order cannot be revoked; it can only be cancelled by submitting a
- It is solely your responsibility to cancel any Buy Order (or part of Buy Order) that you do
- If you place a Buy Order, there is a risk that it will be filled (in whole or part) if you
positive balance in your Legal Tender Account before any cancellation request is received
- Dasset has no liability or responsibility to you in the above circumstances. (This does not
other terms in these Terms and Conditions)
8. Sell Transactions
8.1 Nature of a Sell Transaction
All Market Sell Transactions:
- involve the sale of supported Digital Currencies for Currency at the Market Price;
- settle immediately from a pre-funded Digital Currency Wallet; and
- are recorded on our Dasset Ledger.
8.2 Sell Transaction process
- You can place an order to sell Digital Currency (a Sell Order) on the
By doing so, you authorise Dasset to initiate debits from your applicable Digital Currency
initiate a transfer to the applicable Dasset Wallet.
- When you place a Sell Order, the full amount of Digital Currencies offered for sale are
placed on hold
in your Digital Currency Wallet. This means you cannot deal with those Digital Currencies
for any other
purpose until the Sell Transaction settles, expires or is cancelled. Any fees associated
with the Sell
Transaction will be deducted by Dasset from the sale proceeds before they appear in your
- After you have placed your Sell Order, we will send you an email when it has completed, or
if it has
only been partially filled, as applicable.
- Dasset reserves the right to unilaterally cancel any unfilled portion of any Sell Order that
best bid or best offer by more than twenty percent (20%) in either direction, or is
8.3 Sell Limits
You can enter a Stop Limit or an Order Limit for your Sell Transaction on the Dasset Exchange
8.4 Partial completion
Until the Sell Order fills, expires or is cancelled, the value of the Digital Currencies being
sale will not be available to be used for any other purpose, including other sell orders or
partially filled sell orders, the unfilled portion of Digital Currencies offered for sale will
hold until the remaining sell order is filled, expires, or is cancelled.
8.5 Your confirmations in relation to Sell Transactions
In placing any Sell Order or entering into any Buy Transaction, you confirm your understanding
agreement to, the following:
- It is your responsibility to confirm the Sell Transaction details are accurate, including
the number of
Digital Currencies you intend to sell, the amount of any fees, the gross sale price, and the
proceeds to be transferred to your Legal Tender Account
- Once placed, a sell order cannot be revoked and is only able to be cancelled by submitting a
- It is solely your responsibility to cancel any Sell Order (or part of any Sell Order) that
you do not
- If you place a Sell Order, then there is a risk that it will be filled (in whole or part) if
Digital Currencies in your Digital Currency Wallet before any cancellation request is
- Dasset has no liability or responsibility to you in the above circumstances. (This does not
other terms in these Terms and Conditions)
9. Dasset Exchange
- The Dasset Exchange operates order matching engines for each trading pair. Dasset currently
trading pairs listed here. Our marketplace operates 24 hours a day,
seven days a
week (except for brief maintenance periods).
- We require that all trades be pre-funded (that is, you must have sufficient funds in your
Dasset Wallet before you can trade).
- Trading fees apply. They are set out in the Fee Schedule, accessible here.
10.1 Suspension Events
Dasset may suspend the Services in any of the following cases without prior notice for any period
determines in its discretion (each a Suspension Event) if it considers it necessary or desirable
to do so:
- as a result of any Prohibited Use;
- following a “hard fork” or other sudden change in operating rules in any underlying digital
- following a force majeure event or a market disruption event
- to comply with law, whether or not following a change in applicable law or regulator
10.2 Consequences of a Suspension Event
- If a Suspension Event occurs, Dasset can suspend one or more Services to one or more (or
Users for so long as Dasset determines, in good faith, as is required or prudent in view of
of Dasset and its Approved Users (or affected Approved Users).
- Dasset will not be liable to any Approved User or other person for any loss (including any
profit), liability or inconvenience arising as a result of any Suspension Event, or the
suspension of any
Services or access to the Site arising from action taken following a Suspension Event.
- If Dasset considers that it is practicable and prudent for it to do so in the circumstances
Suspension Event, and in view of the interests of Dasset and its Approved Users (or the
Users), it will give you the opportunity to withdraw your Digital Currencies from your
Wallet and transfer them to another service (that is, a service which is not provided by
11. No Prohibited Use
11.1 Prohibited Use
It is prohibited to use the Site or to access any Service for any of the following purposes or
uses (each a
- To conduct or engage in any illegal activity;
- To hide or disguise the proceeds of any illegal activity;
- To infringe our proprietary intellectual property, or the proprietary intellectual property
of any other
- To engage in gambling;
- In relation to any Digital Currency that Dasset does not support at the relevant time;
- To engage in any deceptive, fraudulent or malicious activity, including by launching malware
or seeking to hack into any Wallets or steal any Digital Currencies or funds held by any
- To reverse-engineer, decompile, disable, or disassemble any software running on the Site;
- To promote any securities;
- To harm Dasset, any person associated with Dasset, or any third party;
- If you are not an Approved User;
- To offer, or to purport to offer, any Service to any person who is not an Approved User; or
- To engage in any other use or activity which breaches these Terms and Conditions.
11.2 Consequences of engaging in any Prohibited Use
Dasset may block or refuse any person (including any Approve User) from accessing the Site and/or
Services or any Transaction if it believes in good faith that such person, Service or
connected with any Prohibited Use. Dasset does not need to provide any prior notice or
explanation if it
invokes this right.
12. Our Rights and Remedies
12.1 Additional rights
In addition to exercising our rights under clause 10 (Suspension) and/or clause 11 (No Prohibited
the event we believe you have breached or are breaching any of these Terms and Conditions or any
law, we may do any of the following:
- limit your access to or activities on the Site;
- warn any Users or Approved Users of your actions;
- issue a warning to you;
- suspend or cancel your access to the Sites;
- advise any regulators and co-operate fully with any law enforcement authorities which may
disclosing information we hold about you about you.
12.2 Additional rights
This clause 12 does not limit any of our other rights and remedies at law.
13. Our fees
13.1 You agree to pay fees
You agree to pay all fees associated with or incurred by you in connection with the Orders you
Transactions you complete and the other Services we provide you.
13.2 Our Fee Schedule may change
Our current Fee Schedule can be found here and is deemed to form part of
Terms and Conditions.
We reserve the right to change, modify or increase our Fee Schedule at any time.
We will update our Fee Schedule no later than fourteen (14) calendar days before changes are to
effect. Your use of the Services following any update to our Fee Schedule is considered to be
acceptance of any such changes.
14.1 You are responsible for paying all applicable taxes
It is your responsibility to determine what, if any, taxes you must pay in relation to the
on any of the Digital Currencies you hold in your Digital Currency Wallet, or otherwise.
14.2 Dasset makes no representations in relation to tax liabilities
Dasset makes no representation as to your tax liabilities, or the tax liabilities of any other
14.3 Dasset assumes no tax liability to any Approved User
Dasset assumes no responsibility for the tax liability of you or any other Approved User, not for
collecting, reporting, withholding or remitting any taxes arising from any Transactions that you
15. Liability and Indemnity
15.1 Exclusion of liability
To the extent permitted by law, Dasset and its related companies exclude all liability and
for any loss, damages, costs or expense, whether in tort (including negligence), contract or
whether direct, indirect, or consequential (including in connection with business interruption),
or any other person may suffer or incur in connection with the Services the use or inability to
Site, and in respect of any Digital Currency or otherwise.
Where and to the extent liability for breach or any implied warranty or condition, or otherwise,
excluded, Dasset’s liability to you is limited (at your option) to:
- the total amount of the fees we have earned from you as a result of supplying the Services
to you; or
- the supply of the Services to you again.
Dasset is not liable in any way whatsoever to you or anyone else for any financial decision or
by you or anyone else using the Services.
Important: In providing the Services, Dasset is required to provide certain
that cannot be excluded under consumer law, if you are using the Services for personal use,
guarantees as to the acceptable quality and fitness of purpose of the Services. Nothing in these
be read or applied so as to exclude, restrict or modify or have the effect of excluding,
modifying any condition, warranty, guarantee, right or remedy implied by the law and which by
law cannot be
excluded, restricted or modified, even if any other provision of these Terms and Conditions
suggest that this might be the case.
15.2 No warranty
To the extent permitted by law we do not warrant the reliability, availability, accuracy,
timeliness of information on the Site. All information is provided “as is” without warranty of
express or implied. This includes (but is not limited to) implied warranties of merchantability,
a particular purpose, title or non-infringement.
15.3 Dasset’s liability is limited
Without limiting the other terms in these Terms and Conditions, you acknowledge that Dasset bears
liability for any damage, loss (including loss of profit), delay or inconvenience, or failure in
or interruption of Service or Transaction, in each case caused by or resulting from (directly or
- any computer virus, spyware, scareware, Trojan horse, worms or other malware or cyber,
spoofing attack that may affect your computer or other device, or the data held by Dasset
respect of your Dasset Wallet);
- any cause or condition beyond our reasonable control, including but not limited to, any
delay or failure
due to any act of God, act of civil or military authority, act of terrorism, civil
strike or other labour dispute, fire, interruption in telecommunications or internet
services or network
provider services, failure of equipment or software, cyber-attack, or other occurrence or
- any “hard fork”, “soft fork”, or other change in the operating rules of an underlying
- our good faith election not to support an unsupported branch of a forked protocol, or to
reconfigure our systems as a result of the forked protocol or other change to the operating
- any suspension of Services following a Suspension Event or as otherwise permitted under
these Terms and
- inaccurate Orders being placed; and/or
- you not meeting your legal obligations, including your tax obligations.
Each User and Approved User indemnifies Dasset and holds Dasset harmless for any loss, cost,
expense sustained or incurred by it as a result of the relevant User or Approved User breaching
and Conditions, including by:
- accessing the Services from outside New Zealand or permitting access to any person which is
- engaging in any Prohibited Use;
- any reliance by you on any information obtained through the Site.
16. Complaints and Disputes
Dasset is committed to providing its Approved Users with a very high level of customer service,
satisfaction is very important to us.
If you would like to make a complaint, we encourage you to contact us in the first instance by
We will acknowledge your complaint within 5 business days and make sure your complaint is
If you are unsatisfied with the outcome of our internal process, you can contact the Insurance &
Services Ombudsman Scheme Inc, which is an independent approved dispute resolution scheme that
can help sort
out unresolved complaints. This service is free of charge.
The contact details for the Insurance & Financial Services Ombudsman Scheme Inc. are:
||0800 888 202
81 Molesworth Street
17. Amendments to these Terms and Conditions
We may amend these Terms and Conditions (including the Fee Schedule which is incorporated by
any time in the following circumstances:
- to meet our legal obligations;
- to accommodate the reasonable requirements of our service providers or business partners;
- to reflect changes to our Services, the Digital Currencies, the networks underlying the
Currencies, or the risks presented by them; and
- in the case of the Fee Schedule, our costs of business.
subsequent access to or use by you of the Site will constitute an acceptance of the amended
sending an email
to the email address linked to your User Account.
18. Additional Terms
18.1 New Zealand law applies
These Terms and Conditions are governed by, and are to be construed in accordance with, New
All Users and Approved Users irrevocably submit to the non-exclusive jurisdiction of the courts
Zealand. This clause operates subject to clause 18.2 (Arbitration).
Dasset and you unconditionally and irrevocably agree that any dispute or disagreement arising out
of or in
connection with these Terms and Conditions and the provision of the Services will be settled by
by a sole arbitrator in accordance with the New Zealand Arbitration Act 1996 and its amendments
the AMINZ Arbitration Rules current at the time arbitration is commenced. The place of
be Auckland and the law applicable to the arbitral proceedings and the matters in dispute will
18.3 Terms survive use
Site and the Services, to the extent we reasonably think necessary or desirable.
18.4 No agency
Dasset is not your agent, associate, or representative for any purpose.
18.5 Electronic communications and notices
You consent to receive electronically all communications, agreements, documents, and disclosures
Communications) that we may or must provide in connection with your User
Wallets, the Services or the Site. We will provide all Communications to you at the primary
linked to your User Account.
If we send an email to you at the primary email address linked to your User Account, you
this constitutes ‘written notice’ from us to you. If you email us at email@example.com, this
‘written notice’ from you to us. For all notices made by email, the date of receipt is
considered to be the
date of transmission. You consent to these electronic communications for all purposes. If any
email to you
is returned as undeliverable, we may block access to your User Account and Dasset Wallets until
and confirm a new email address. Please notify us immediately of any change to your email
You may withdraw your consent to receive Communications electronically by emailing us at
firstname.lastname@example.org. However, please note that if you withdraw your consent, Dasset reserves the
immediately close your User Account. In that case we will refund any Legal Tender credited to
Tender Account to the bank account linked to your User Account, and we will await your written
as to how to return your Digital Currency held in your Dasset Currency Account to you.
18.6 Our contact details
If you would like to contact us for any reason, please do so by email to email@example.com.
|Our registered office is at:
||101 Pakenham Street
18.7 Intellectual property
All logos, content, materials, software, graphics, text and trademarks on the Site are owned by
property of Dasset. You are not authorised to copy, licence, sell, distribute or create
from any of that intellectual property.
18.8 No waiver
If Dasset does not enforce, or delays in enforcing, any compliance by you or another person with
Terms and Conditions, it does not mean that we have waived our rights and will not excuse any
non-compliance with these Terms and Conditions.
18.9 Valid clauses saved
If any term of these Terms and Conditions is invalid or unenforceable under applicable law, the
terms will continue in full force and effect.
18.10 Entire agreement
agreement between you and us in relation to the provision of the Services.
||This term is defined in clause 2.1. This term excludes any person whose User Account has
terminated, cancelled, suspended or closed.
||This term is defined in clause 7.2.
||This term is defined in clause 7.1.
||This term is defined in clause 16.
||This term is defined in clause 4.5.
|Dasset or us or we
||"Digital Asset Exchange Limited, a New Zealand incorporated limited liability company,
'Dasset' with its registered office located at 101 Pakenham Street, Auckland Central,
Dasset is registered on the New Zealand Financial Service Providers Register
FSP557466) to provide the following regulated financial services:
Dasset is also a member of the Insurance & Financial Services Ombudsman Scheme Inc.
- broking service (including a custodial service)
- operating a money or value transfer service
- issuing and managing means of payment
Dasset is not authorised or licensed by any New Zealand government entity or
regulator. For the
avoidance of doubt, Dasset is not required to be authorised or licensed to provide the
accordance with these Terms and Conditions."
|Dasset Custodial Bank Account
||The Dasset Custodial Bank Account is described in clause 3.5. It is the bank account in
Tender contributed by Approved Users is held on trust for the benefit of those Approved
Approved User's entitlement is to the proportion of that balance which represents the
face value of the
Legal Tender that he or she has transferred to that account, less relevant deductions
(e.g. for fees).
||The Dasset Exchange is the technology platform operated by Dasset which underlies the
Services. It is accessible at www.dassetx.com.
||This term is defined in clause 5.
||This means an Approved User's Legal Tender Account and Digital Currency Wallet.
||"The term Digital Currency means any blockchain-based currency, or the digital
rights or assets, including:
These assets are based on the cryptographic protocol of a computer network that may be
decentralised, closed or open-sourced, and as a medium of exchange and/or store of
- other cryptocurrencies (which are otherwise known as virtual currencies).
||Our Fee Schedule forms part of the Terms and Conditions. Click here to access
the latest version.
||This is a Buy Order or a Sell Order which has been filled.
||The term Legal Tender means any national fiat currency which has the status of legal
tender, such as
New Zealand dollars, that may be used by an Approved User to buy or sell Digital
Currencies using the
Services. For clarity, it does not include any Digital Currency.
|Legal Tender Account
||This term is defined in clause 3. Your Legal Tender Account is not a bank account.
Instead, it is a
digital account which represents the share of your beneficial interest in the credit
funds standing to
the credit of the Dasset Custodial Bank Account.
||When you place a Limit Order on the Dasset Exchange dashboard, you decide what Market
Price you are
willing to pay (for a Buy Order) or receive (for a Sell Order). Your order will be added
to the Order
Book and will be displayed for someone to accept it. Limited Orders will remain valid
until they are
filled or cancelled.
||The Market Price of a Digital Currency, at any time, is the price displayed as the
'Market Price' on
the Dasset Exchange dashboard at that time.
||This is a Buy Order or a Sell Order which has not yet been filled.
||This means an order for Digital Currency and includes a Buy Order or a Sell Order.
||The Order Book is a list of all open Buy Orders and open Sell Orders. This is displayed
on the Dasset
||The New Zealand Privacy Act 1993, as it may be amended, or varied from time to time.
References to the
Privacy Act include regulations to any codes or regulations under it or relating to it
from time to
||"A private key is a numerical code (an integer between one and about 1077). Private keys
are used to
verify transactions on the networks underlying Digital Currencies. It can exist in a
import format' (WIF).
It is important to keep your private key details safe and secure. Extreme caution
must be taken
whenever selecting, storing or transmitting private keys. If another person learns your
they can steal your funds. Also, if you forget or lose your private key or password
cannot provide a back-up and this can result in the loss of your Digital Currencies. We
recommend you use secure cold storage. Also note that careless selection of a private
key can lead to
theft just as easily as its accidental release, so choose your private key wisely."
||This term is defined in clause 11.
||This term is defined in clause 8.2.
||This term is defined in clause 8.
||The term Services means any service offered by Dasset, whether or not through our Site.
include the provision of a User Account, a Legal Tender Account, a Digital Currency
Wallet, and buying
services, selling services, trading services, and other services that we provide from
time to time.
||The term Site means our websites, www.dasset.co.nz
and www.dassetx.com, and all linked websites,
interfaces (APIs) and mobile applications or similar platforms or portals operated by
Dasset from time
||When you place a Stop Order on the Dasset Exchange dashboard, you set an entry / exit
Once the Market Price for the relevant Digital Currency meets or exceeds the entry /
exit point you have
selected, your Stop Order becomes an Open Order.
||This term is defined in clause 10.
|Terms and Conditions
||Our Terms and Conditions, as updated from time to time, legally bind each User and
Approved User. The
current Terms and Conditions are set out in full here and are
incorporate the Fee Schedule which is available here.
||The term Transaction means any transaction undertaken using the Services or otherwise
Site. It includes a Buy Transaction, a Sell Transaction, and an Exchange Transaction.
||A User is any person who visits our Site or who uses any of our Services.
||The term you means each Approved User and, where the context permits or requires, each