Plutus (Europe) General Terms of Service

As of March 1st, 2023

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE USING
THE SERVICES

1. WHO WE ARE AND HOW TO CONTACT US
Welcome to Plutus.it, the website of BLOCK CODE LT UAB trading as ‘Plutus’, a
company registered in Lithuania under company registration (NIPC) number 305848086
whose registered office is at Vilnius, Vilkpėdės g. 22 ("we", "We", "our" or "us", as
applicable). The following terms and conditions, together with any documents expressly
incorporated by reference (collectively, these "Terms"), are a binding agreement
between you and us and govern your access to and use of the Services (as defined
below).
To contact us, please email support@plutus.it.

2. YOUR ACCEPTANCE OF THESE TERMS
2.1. By registering for an Account or using any of the Services, you confirm that you
accept the Terms and that you agree to comply with them.
2.2. If you do not agree to these Terms, you must not use the Services and you must
close any Account which you have opened.
2.3. We recommend that you print a copy of these Terms for future reference.
2.4. You should read this document along
(https://plutus.it/privacy),
and
Card
and
E
(https://plutus.it/terms-and-conditions-partners).

3. DEFINITIONS
The following definitions apply to these Terms:

with our
Wallet

Privacy
Issuer

Policy
Terms

"Account" means the account provided by us through the Website or Plutus Mobile
App, which is managed through the Plutus Dashboard and provides access to the
Services;
"Banking Partners" means Solaris, Clear Junction and Modulr;
"Card Issuer Terms" means the terms between you and Solaris governing your use of
the Plutus Card in respect of Plutus;
"Clear Junction" means Clear Junction Ltd., (company registration number: 10266827)
and who is authorised by the Financial Conduct Authority as an Electronic Money
Institution;
"Communications" means information provided relating to your Account or any
Cryptocurrency Transaction or Merchant Transaction, including: any agreements and
policies you agree to, (e.g., these Terms including updates to these agreements or
policies; disclosures and notices, including prospectuses and reports for transaction
receipts or confirmations; Account statements and history; documents; and any other
information related to your Account or the Services);
"Cryptocurrency", or “Cryptocurrencies” (as applicable) means each and collectively
(as applicable) the cryptocurrency tokens (as the term is understood in the industry)
available to be traded using our Services and currently includes Pluton and Ether (but it
may change from time to time by changing the relevant section of the Website);
"Cryptocurrency Transaction" means a transaction, which has been facilitated by the
use of the Services and which follows the submission of an Order made between Plutus
Users, under which Cryptocurrency is traded in exchange for Funds and/or a
Cryptocurrency;
"Cryptocurrency Wallet" means a device, physical medium, program or service which
stores public and/or private keys and can be used to track ownership, receive or spend
cryptocurrencies;
"External Cryptocurrency Wallet" means the Cryptocurrency address or wallet of any
form which is not offered by us;
"E-Wallet Terms" means the terms between you and Clear Junction/Modulr governing
your use of the Plutus Fiat Account in respect of Plutus;
"Fees" means the fees which we charge to you in relation to the use of the Services, as
further specified at clause 20;
"Funds" means the monetary value of electronic money available in the Account:
"Fiat Currencies" means each and collectively (as applicable) British Pounds Sterling
and/or Euros and any other currency as we in our discretion may provide access to from
time to time by changing the relevant section of the Website;

"Login Details" means the email address entered by you when your Account is created
during Registration together with the corresponding password which allows you to
access the Services;
"Merchant Transaction" means a transaction made between you and a merchant for
the provision of goods or services;
"Modulr" means Modulr Finance Limited is a company registered in England with
company number 09897957 and ICO registration: ZA183068, registered with the
Financial Conduct Authority (Firm Reference Number: 900699) as an EMD Agent of
Modulr FS Limited. Modulr FS Limited is a company registered in England with
company number 09897919 and ICO registration: ZA183098, authorised and regulated
by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference
Number: 900573)
"Order", is an order created by you to either sell or purchase (as the case may be)
Cryptocurrency using the Services and which, in both cases, is made in accordance
with these Terms and the steps of the process reflected on the Website;
“Personal use” means use that is not commercial and is for the card holder's own
consumption or enjoyment.
“Pluton” means the Plutus app’s native rewards token;
"Plutus Card" means the physical payment card that is tied to your Plutus Card Wallet,
issued and available to you for your use and subject to you successfully passing
Registration;
"Plutus Card Wallet" means the electronic money account which is provided by Solaris
to you through the Account;
"Plutus Dashboard" has the meaning given to that term in clause 4.13;
"Plutus DEX" means the cryptocurrency exchange provided by us via the Website and
the Plutus Mobile App;
"Plutus Fiat Account" means the electronic money account which is provided by Clear
Junction or Modulr to you through the Account, and is also referred to as an E-Wallet;
"Plutus Mobile App" means the application(s) for mobile devices and/or the web
application operated and maintained by or on behalf of Plutus, through which part of the
Services are offered and may be accessed and used;
“Plutus Perks” means PLU rebates at selected brands;
“Plutus Rewards” means percentage of your purchase back in Pluton token;
"Plutus Service" means the service provided by us, that enables you to fund Merchant
Transactions through the use of the Services;

"Plutus User" means a user to whom we provide the Services;
"Registration" means the process of opening an Account in accordance with the
procedure specified in clause 10;
"Services" means, collectively, the services we provide to you through the Account
such as the Plutus Card Wallet, Plutus Fiat Account, PlutusDEX and Plutus Mobile App,
after successfully passing Registration and you have received full access, subject to
additions, variations and/or limitations as may be determined and implemented by
Plutus from time to time;
"Solaris" means UAB “FINANSINES PASLAUGOS, a private company organised
under the laws of the Republic of Lithuania (company code: 304406236), registered in
the Register of Legal Entities of the Republic of Lithuania, with the registered office is at
Mėnulio g. 11-101, Vilnius, Lithuania;
"User" means you;
"Website", or the “Platform” (as applicable) means our website which is available at
https://plutus.it and any software application which we provide which allows you to use
the Services;
"Withdrawal" means withdrawing Funds from your Plutus Fiat Account, by requesting a
wire transfer to the bank account that is linked to your Plutus Fiat Account, the details
which you agree to provide in the Registration procedure; and
"You", “you”, “your” or "Your" means the natural person named on the Account
entering into these Terms.

4. CONTENT OF THE SERVICES
4.1. We provide the following services to you through the Website or Plutus Mobile App:
4.1.1. Allow you to buy, sell and/or trade Cryptocurrency via the Plutus DEX;
4.1.2. Allow you to deposit and withdraw your Funds via the Plutus Fiat Account;
and
4.1.3. Allow you to deposit, withdraw and/or spend Fiat Currencies via the Plutus
Card.
4.2. We may also offer additional services to those listed above in clause 4.1, from time
to time. Such additional services shall be provided under terms separate to these
Terms.
4.3. We will provide the Services to you with reasonable care and skill.
4.4. Users may register for an Account in accordance with clause 10.

4.5. To be eligible to become a Plutus User you represent and warrant that:
4.5.1. you are at least 18 years old;
4.5.2. you are eligible to register for and use the Services and the corresponding
Account in accordance with the Registration process;
4.5.3. you have the capacity to enter into legally binding contracts; and
4.5.4. you are not impersonating any other person, operating under an alias or
otherwise concealing your identity.
4.6. To become a Plutus User, you must also provide us with the information that is
requested as part of the account opening process. This includes the information to
satisfy 'Know Your Customer' and anti-money laundering checks. Failure to provide any
information that we reasonably request from you, pursuant to applicable money
laundering laws and regulations after you have become a Plutus User shall be grounds
for the suspension of the provision of Services to you (including access to your Account)
under clause 12 and/or the termination of these Terms under clause 13. The nature
and extent of the information you are required to provide may differ, for example, based
on the Services provided to you under these Terms and/or the means of payment you
use.
4.7. When applying to become a Plutus User, you will be asked to create your individual
Account which will include a username and password, together your Login Details.
Once you have successfully passed Registration, you will be able to access your
Account through the Website or the Plutus Mobile App using your Login Details in
accordance with these Terms.
4.8. Your Account associated with Fiat Currencies is administered on our behalf by
Solaris, Modulr or Clear Junction. This is not the same as a banking institution holding
money for you. Neither we nor our Banking Partners use the funds to invest or lend to
other persons or entities. Your Funds will not accrue interest. Your Funds will be held in
one or more segregated bank accounts, separately from our own Funds.
4.9. You are able to fund Merchant Transactions by depositing fiat to your Account or
selling your Cryptocurrency to other Plutus Users;
4.10. Please note, the Cryptocurrency that you would receive as a reward pursuant to
the Services in accordance with the remaining provisions contained herein, is not
covered by any statutory protections afforded to banks, such as that under the UK
Financial Services Compensation Scheme, administered by the UK FCA or the FDIC
Deposit Insurance Scheme administered by the FDIC in the USA;
4.11. You are able to fund Merchant Transactions by depositing Fiat Currencies into
your Plutus Fiat Account.

4.12. Your Account, that stores your Funds may be used by you to enter into, it being
understood that you may be required to provide supplemental information to us to be
able to use the full functionality of the Services:
4.12.1. Cryptocurrency Transactions via the PlutusDEX;
4.12.2. Merchant Transactions via the Plutus Card; and
4.12.3. Fiat Currencies deposits and withdrawals via the Plutus Fiat Account.

Plutus Dashboard
4.13. As an Account owner, you can access the Plutus Dashboard on the Website or
the Plutus Mobile App, where you can (in addition to any other function we make
available):
4.13.1. Deposit and/or withdraw your Funds;
4.13.2. Verify your identity with us;
4.13.3. View transaction history;
4.13.4. View balance and currency of your Funds;
4.13.5. Activate or disable your Plutus Card;
4.13.6. View PIN of your Plutus Card;
4.13.7. Access security features relating to your Account; and
4.13.8. Access and manage the Plutus DEX, Plutus Fiat Account and Plutus
Card Wallet.

Plutus Card
4.14. Upon successfully passing Registration you will be issued with a Plutus Card in
accordance with the completed order during Registration, subject to any issuance
charges, as set out in the Fees section at clause 20.
4.15. Your use of our physical Plutus Card is subject to the Card Issuer Terms
(https://plutus.it/terms-and-conditions-partners).
4.16. If you lose your Plutus card, you may activate and deactivate Plutus Card using
the Plutus Mobile App and Website. Failure to disable the Plutus Card upon becoming
aware of it being lost or stolen may mean that you lose your right to any compensation
for unauthorised transactions(s).

4.17. We reserve the right to refuse to load any Account or Plutus Card Wallet and may
suspend or terminate your use of the Services if you have failed to, or in our reasonable
belief it becomes apparent that you have failed to:
4.17.1. Submit satisfactory know your customer information to be determined at
our discretion;
4.17.2. Submit accurate or complete know your customer information;
4.17.3. Verify your identity based on the know your customer information you
submit; or
4.17.4. At any time, we suspect that you are using your Account for any purpose
which is prohibited under these Terms.

Plutus Fiat Account
4.18. Upon successfully passing Registration you will be issued with a Plutus Fiat
Account in accordance with the information you have provided during Registration,
subject to any fees as set out in the Fees section at clause 20.
4.19. Your use of the Plutus Fiat Account is subject to the E-Wallet Terms
(https://plutus.it/terms-and conditions).
4.20. We may, at our reasonable discretion (for example, without limitation, to limit fraud
or risk), impose limits on the amount of money and Cryptocurrency you can receive
through the Services. In order to change your limit, you must provide us with any
supplemental information we request. If you have a restriction or limit on your Account,
you may be able to view it by logging onto your Plutus Dashboard.
4.21. We reserve the right to refuse to load any Account or Plutus Fiat Account
and may suspend or terminate your use of the Services if you have failed to, or in
our reasonable belief it becomes apparent that you have failed to:
4.21.1. Submit satisfactory Know Your Customer information to be determined at
our discretion;
4.21.2. Submit accurate or complete Know Your Customer information;
4.21.3. Verify your identity based on the Know Your Customer information you
submit; or
4.21.4. Use your Account for any purpose which is prohibited under these Terms.

PlutusDEX Service

4.22. The PlutusDEX Service is a decentralised cryptocurrency exchange provided via
the Website and Plutus Mobile App, which allows Plutus Users to buy and sell
Cryptocurrency from each other.
4.23. You can access and manage the PlutusDEX via the Plutus Dashboard and must
connect a Cryptocurrency Wallet.
4.24. You may use the Plutus DEX as follows:
4.24.1. In accordance with clause 4.26 below, you may enter into Cryptocurrency
Transactions to buy Cryptocurrency from another Plutus User; and/or
4.24.2. In accordance with clause 4.27. below, you may enter into
Cryptocurrency Transactions to sell Cryptocurrency to another Plutus User.
4.25. If you wish to buy Cryptocurrency you may do so as follows:
4.25.1. You must ensure that you have sufficient Funds in your Plutus Fiat
Account to buy the Cryptocurrency, and you may add Funds to it via a wire
transfer (please refer to the E-Wallet terms and conditions provided by Clear
Junction/Modulr for further information);
4.25.2. You must submit a purchase Order to the PlutusDEX for the purchase of
the Cryptocurrency at a certain price in accordance with the procedure specified
on the Website);
4.26.3. The PlutusDEX will lock the Funds required for the Order and attempt to
match your purchase Order with a sell Order set by another Plutus User; and
4.25.4. If your Order is successfully matched, your Plutus Fiat Account will be
debited with the relevant amount of Funds and the Cryptocurrency will be sent to
your Cryptocurrency Address.
4.26. If you wish to sell Cryptocurrency you may do so as follows:
4.26.1. You will need to add a Cryptocurrency Wallet to your Account which
contains Cryptocurrency;
4.26.2. By default, your Plutus Fiat Account will be credited, but you have the
option to directly credit your Plutus Card Wallet;
4.26.3. You will then submit an order to the PlutusDEX for the sale of a certain
amount of Cryptocurrency at a certain price;
4.26.4. The PlutusDEX will attempt to match your sell Order with a purchase
Order set by another Plutus User; and
4.26.5. If your order is successfully matched, your Plutus Fiat Account or Plutus
Card Wallet, depending which was chosen, will be credited with the relevant
amount of Funds and the Cryptocurrency will be sent to the other Plutus User.

4.27. Whenever an Order is successfully matched, you will be notified of this in
accordance with clause 16;
4.28. We also permit you to fund your Plutus Card Wallet with traditional payment
methods (so that the
Plutus Card Wallet can be funded without depositing
Cryptocurrency).
4.29. Once your Plutus Card Wallet has been funded following a Cryptocurrency
Transaction, you may use the funds within your Plutus Card Wallet as follows:
4.29.1. By entering into Merchant Transactions with the use of your Plutus Card;
and
4.29.2. In any other manner which is permitted by the terms and conditions
provided by the Card Issuer Terms and E-Wallet Terms.

5. THERE ARE OTHER TERMS THAT MAY APPLY TO YOU
5.1. If you use the Website without using the Services or registering an Account, please
refer
to
the
Website
Terms
of
services
(available
at
https://plutus.it/terms-and-conditions) which apply.
5.2. As a Plutus User, before using the Services you must agree to the terms of services
supplied by our Banking Partners. You can consult and download copies of them here
https://plutus.it/terms-and-conditions-partners.
5.3. As a Plutus User, we may make available Pluton rewards to you when you enter
into a Merchant Transaction.
Plutus remains owner of the Pluton rewards until their transfer to your external wallet
address which will occur a minimum 45 days after the Merchant Transaction.
The conditions on which we will provide these rewards and what the rewards entitle you
to are specified on the Website at https://plutus.it/subscription-terms and
https://support.plutus.it/hc/en-us/articles/4713263751197-How-to-earn-PLU-Rewards.
We reserve the right to change the terms relating to these rewards at any time without
notice to you.
5.4. We only provide our Services for domestic and personal use. You agree not to use
the Services for any commercial or business purposes and transactions done in behalf
of others. We reserve the right to decline the rewards resulting from commercial or
business transactions and transactions done on behalf of others.
5.5. Plutus reserves the right to remove and/or refuse to award any Pluton, including
without limitation:

(a) upon reasonable suspicion that you may be in breach of these Terms or are
otherwise trying to circumvent these Terms such as by opening multiple accounts,
earning rewards on personal account via business transactions or abusing any of our
incentive schemes;
(b) upon reasonable suspicion that a transaction is fraudulent or erroneous;
(c) upon reasonable suspicion that your account has been compromised or the Services
are being used in a fraudulent or unauthorised manner.
5.6. As a Plutus User, you will be eligible for at least one Plutus Perk. The number of
Perks you receive depends on your Subscription Plan and Reward Level. The maximum
number of Perks you can receive is 8.
For Subscription-based Perks*, as a general rule-of-thumb, only the lowest subscription
plans are eligible for rewards.
For all Retail-based Perks*, customers will receive up to £/€ 10 worth of PLU per month
and per Perk.
o If a customer’s spend is <£/€ 10, their Perk Rebate will match the amount
spent at their selected Perk.
o

If a customer’s spend is ≥£/€ 10, they will receive the maximum £/€ 10 Perk
Rebate.

If you have acquired Perks from a Fiat Subscription Plan, this will be active and eligible
for rebates immediately. Perks acquired via Stacking will only become active and
eligible for rebates after 30 days of stacking.
Perks can be changed once every month. Perks rebates will be held in Pending status
for 42 days, before becoming available to withdraw, stack, or sell.
If a payment for a Perk is refunded, you may be ineligible for rewards.
*More
specifics
about
the
perks
are
available
https://support.plutus.it/hc/en-us/articles/4716233136029-How-Plutus-Perks-work

on

6. YOU MUST KEEP YOUR ACCOUNT DETAILS SAFE
6.1. Each time you seek to access your Account, we will check your identity by asking
for your Login Details. As long as your correct Login Details are entered, we will assume
that you are the person giving instructions and you will be liable for those instructions.
You must, therefore, keep the Login Details secret and secure and make sure that they
are not stored in a way that enables others to access them or impersonate you. In
addition, if you disclose the Login Details to any person whom you authorise to access

your Account, you are also responsible and liable for any access, use, misuse or
disclosure of your Login Details and/or Account by such person.
6.2. You must notify us by e-mail at support@plutus.it immediately if you know or
suspect:
6.2.1. The loss or disclosure to any unauthorised person of any Login Details;
6.2.2. Any unauthorised access to your Account;
6.2.3. Any other criminal or fraudulent activity relating to your Account; or
6.2.4. Any other breach of security relating to your Account, whether physical or
relating to computer or similar hardware or software.
6.3. If we receive such a notification from you or determine ourselves that the security of
your Login Details may have been breached, you will not be able to access your
Account until measures have been taken to verify your identity.
6.4. Unless and until you tell us that you believe that someone else knows the Login
Details or can use your Account by impersonating you:
6.4.1. You will be responsible for any instructions which we receive and act on,
even if it was not given by you; and
6.4.2. We will not be responsible for any unauthorised access to your Account or
the information available in it.
6.5. You must ensure that you take all reasonable steps to maintain the security of your
Account by:
6.5.1. Keeping your Plutus Web and Mobile App safe and secure;
6.5.2. Preventing unauthorised access to your Account, including but not limited
to ensuring that you have 2-factor authentication enabled at all times; and
6.5.3. Ensuring your Plutus Card PIN or any other unique numbers (including CV,
expiry and card number) are kept safe and secure.
6.6. If you choose, or you are provided with, a user identification code, password or any
other piece of information as part of our security procedures, you must treat such
information as confidential. You must not disclose it to any third party.
6.7. We have the right to disable any user identification code or password, whether
chosen by you or allocated by us, at any time, if in our reasonable opinion, you have
failed to comply with any of the provisions of these Terms.
6.8. If you know or suspect that anyone other than you, knows your user identification
code or password, you must promptly notify us at support@plutus.it.

7. WEBSITE INFORMATION
7.1. The content on our Website is provided for general information only. The
information and publications are not intended to be and do not constitute financial
advice, investment advice, trading advice or any other advice or recommendation of any
sort. If you are in any doubt as to whether you should enter into a Cryptocurrency
Transaction, you must seek professional advice.
7.2. Although we make reasonable efforts to update the information on our Website, we
make no representations, warranties or guarantees, whether express or implied, that
the content on our Website is accurate, complete or up to date.

8. OUR RESPONSIBILITY FOR LOSS OR DAMAGE SUFFERED BY YOU
8.1. If you are a consumer or a business user:
8.1.1. We do not exclude or limit in any way our liability to you where it would be
unlawful to do so. This includes liability for death or personal injury caused by our
negligence or the negligence of our employees, agents or subcontractors and for
fraud or fraudulent misrepresentation;
8.1.2. You acknowledge and agree that we do not in the course of providing the
Services, hold funds (any funds being held either with Clear Junction/Modulr or
with Solaris) or Cryptocurrency (any Cryptocurrency being transferred to the
External Cryptocurrency Wallet and/or Cryptocurrency Wallet of the relevant
Plutus User);
8.1.3. If you are a Plutus User, you acknowledge and agree that it is your
responsibility to supply a valid and correct External Cryptocurrency Wallet
address to which any rewards in the form of a Cryptocurrency may be sent (as
applicable) and you acknowledge that you are responsible for the security of your
External Cryptocurrency Wallet and acquiring the know-how to operate it, it being
understood that we shall not be responsible for any losses that are a result of a
fault in the External Cryptocurrency Wallet, your use of the same, or any losses
that are a result of the decentralized nature of any Cryptocurrency you receive as
a reward hereunder (in accordance with the remaining provisions contained
herein) or of the decentralised nature of the Plutus Service, it being understood
that Cryptocurrency Transactions are irreversible;
8.1.4. We shall not be held liable if the banking details entered during
Registration by you for Withdrawal requests are incorrect or not updated. It is
your responsibility to check and update the banking details associated with your
Plutus Fiat Account; and
8.1.5. You acknowledge and agree that the Plutus Fiat Account and the Plutus
Card Wallet are provided by Clear Junction/Modulr and Solaris respectively. You

agree not to hold us liable in respect of any malfunction with services provided by
these third parties.
8.2. If you are a consumer:
8.2.1. Please note that we only provide the Services for domestic and personal
use. You agree not to use the Services for any commercial or business purposes,
and we have no liability to you for any loss of profit, loss of business, business
interruption, or loss of business opportunity.

9. OUR TRADEMARKS ARE REGISTERED
9.1. PLUTUS and PLUTON are our registered trademarks. You are not permitted to use
them without our prior written approval.
9.2. All intellectual property included in the Website or the Services, including, but not
limited to, website logos, databases, website design, text and graphics, software,
photos, videos, music, sounds and any combinations of the aforementioned files, and
the intellectual property rights of software compilation associated source code and
software (including small applications and scripts) belong to us and our licensors
absolutely. You are not granted any licence or right to use these materials and other
documents or items for any purpose other than in connection to your receipt of the
Services. You may not copy, modify, transmit or use any of the foregoing materials or
content for commercial purposes.
9.3. All rights contained in the name of the Website (including but not limited to business
goodwill and trademarks, logos) belong to us or our licensor absolutely.
9.4. You log into the Account or your use of any of the Services shall not be deemed as
our transfer of any intellectual property to you.

10. ACCOUNT OPENING PROCEDURE
10.1. Standard opening procedure. If you wish to receive the Services you must fill
out a registration form and follow the onboarding process through which you will be
directed on the registration page of the Website, and we may require you to provide
information to us (including without limitation any of our sub-contractors) based on our
anti-money laundering procedures and Know Your Customer procedures. During the
onboarding process, we may obtain and record a range of your personal information
including without limitation your phone number, computer information and IP addresses,
card information (including without limitation credit cards and ID cards), as well as
biometrical information and proof of address, in order to create an Account. Completion
of the registration form shall be deemed explicit acceptance by you of these Terms. You
may activate your Account by clicking on the link contained in the registration
confirmation email sent by us ("Registration Confirmation"). The Registration

Confirmation contains your Login Details. To finalise the opening procedure, you must
login to your Account using the activation link provided in the Registration Confirmation
and update the temporary password.
10.2. Registration data. If any of the Registration data becomes out of date, you
undertake to update the Registration data provided without delay, to ensure all
information provided remains accurate, up to date and complete throughout the period
of your use of the Services.
10.3. Your email address. The email address you provided as part of the Registration
process which forms part of the Login Details can only be changed by our customer
support team.

11. AML & KYC
11.1. As a matter of best practice for a company incorporated and doing business in the
UK, we take proactive measures to avoid money laundering and the financing of
terrorism. We will also request you satisfy our identification procedure (and additional or
different procedures where necessary at our discretion), whether you are a natural
person or a non-natural person, including without limitation through a 3rd party
verification service appointed by us.
11.2. We insist on a comprehensive and thorough customer due diligence and AML
compliance framework. This includes monitoring of suspicious transactions and
obligatory reporting to local regulators and other compliance bodies.
11.3. We reserve the right to refuse registration to persons from jurisdictions that do not
meet international AML standards.
11.4. We reserve the right to carry out Account due diligence verification of our Users
and their transactions. Enhanced Account reviews may be carried out periodically at our
discretion as part of our ongoing risk assessment. In addition to this, any attempt to
abuse Plutus or our Platform will result in immediate account suspension and reporting
violations to respective authorities.
11.5. To be eligible to use the Services, you must:
11.5.1. Pass our regulatory due diligence checks;
11.5.2. Not be in breach of these Terms; and
11.5.3. Not have had any previous Account closed by us or blocked by us. We
may at our discretion permit your use of the Services notwithstanding that you
have had an Account previously closed or blocked.
11.6. You confirm that you are at least 18 years of age, that you have provided correct
information during the process of creating an Account and that you are an individual
acting solely on your own behalf and are not acting for a purpose related to a trade,

business or profession. You undertake that, if your details change, you will notify us
immediately. You agree and acknowledge that we shall not be liable for any losses that
occur due to the submission of invalid, incorrect or inaccurate information. You agree to
cooperate with all requests made by us or any of our third-party service providers on our
behalf in connection with your Account, to identify or authenticate your identity or
validate your funding sources, Cryptocurrency Transactions, Merchant Transactions, or
other use of the Services. This may include, but is not limited to, asking you for further
information that will allow us to reasonably identify you, including requiring you to take
steps to confirm ownership of your phone number or payment instruments or verifying
your information against third party databases or other sources as we choose.
11.7. We reserve the right to close, suspend or limit access to your Account and/or the
Services in the event we are unable to obtain or verify any information you provide or if
you otherwise do not comply with our requests and this clause 11.
11.8. We may confidentially verify the information you provide to us or which we obtain
ourselves or through third parties from secure databases. Some of the searches which
we or a third party may perform, such as a credit check, may leave a soft footprint on
your credit history. This will not affect your credit rating. By entering into these Terms,
you confirm that you consent to us or a third party on our behalf carrying out such
verifications.
11.9. You must ensure that information on your Account is always accurate and up to
date. If at any time we believe that your information is outdated or inaccurate, we may
contact you and request further information or request that you go through the
verification process again. Your Account limit will be adjusted accordingly while we
verify your identity. We shall not be liable for any losses arising out of your failure to
maintain up to date information.
11.10. We will verify your identity through documentary means and/or non-documentary
means you provide to us upon Registration for an Account. We reserve the right to use
non-documentary means where necessary to verify the true identity of the Account
owner. To verify the identity of the Account owner, we may ask you for a copy of the
following information:
11.10.1. Proof of your identity. We are required to verify your identity. As
evidence of your identity, we may ask for the following documentation, as
applicable (without limitation): for natural persons, a copy of a valid identity
document, such as a passport, driving licence or Government-issued National
Identity Card, issued in the UK or EEA, or if you are company or other legal
entity, proof of registration from the company registry of the jurisdiction in which
the company is incorporated;
11.10.2. Proof of your address. We will need to verify where you reside. In
support of that evaluation, and as an example, for natural persons we may
request a copy of a utility bill (water, gas, electricity) or a copy of the 1st page of
a bank statement showing your residence address, such documents being no
older than three (3) months; and for non-natural persons we may again request

an extract of the applicable organisation register of the applicable jurisdiction or
bank statement from your corporate bank account;
11.10.3. Proof of beneficial owners. With respect to any User that is a company
or other form of organisation with a separate legal personality or similar, we may
request documentation that verifies the beneficial owners of your company or
organization; and
11.10.4. Additional or other information. We reserve the right to request any
further documents or additional information to allow us to carry out the necessary
checks in satisfaction of our legal obligations including without limitation with
respect to the prevention of money laundering and terrorist financing.
11.11. We will verify the information provided to us within a reasonable time. Where we
find suspicious information that indicates possible money laundering, terrorist financing
activity, or other suspicious activity, we will, in conjunction with our MLRO, report that
activity in accordance with applicable law.
11.12. Where we are not able to confirm with a reasonable degree of certainty the true
identity of the Account owner and/or we are not satisfied that the Account owner
presents an acceptable level of risk to us, we may:
11.12.1. Deactivate or suspend the Account;
11.12.2. Close the Account after attempts to verify the Account owner identity
fails; and
11.12.3. Determine whether it is necessary to inform regulators and regulatory
bodies in accordance with applicable laws and regulations.
11.13. We may within a reasonable period of time after the Account is opened (or
earlier, if required by another law or regulation or directive issued in connection with an
applicable list) determine whether an Account owner appears on any
government-issued list of known or suspected terrorists or terrorist organisations
following which we may, as required and/or permitted by applicable laws, submit such
information to applicable regulatory bodies.
11.14. We maintain records of our verification for anti-money laundering purposes,
including information provided by the Account owner regarding their identity, as well as
specific details contained within those documents. Subject to our Privacy, Data Use and
Retention Policy and applicable data protection laws, we will retain records of all
identification information for six years from the date such information is provided to us
or an Account is closed, whichever is later. The information we hold will be treated as
confidential unless disclosure is required to a third party, in which case such disclosure
shall be made in accordance with applicable laws and only to the extent required. We
are legally obligated to collect and maintain this information, and may be legally
obligated to continue maintaining it notwithstanding any request made by you to us to
erase such information, where required and permitted under applicable data protection
laws and those relating to AML.

11.15. While we do not have a recurring legal obligation to periodically report user
activity to any particular foreign authority(is), for example, foreign police or tax
authorities, where we receive a request from any foreign authority, we will request that a
formal enquiry is made by that foreign entity to the equivalent counterpart in the relevant
country in which your Account is administered. Where we receive a request through the
appropriate local authority, we are legally obligated, depending on the information
requested, to cooperate with that enquiry. We are not able to provide taxation advice or
comment on individual cases.
11.16. We reserve the right to monitor your Acount for an activity involving unusual
transaction sizes, volumes, patterns or types and we may in our sole discretion conduct
further investigations in this respect.
11.17. We may file one or more reports with any relevant regulatory authority(is) where
we know, suspect or have reason to suspect that a transaction facilitates criminal
activity.
11.18. It is our policy that all suspicious activities will be reported regularly to our senior
management.
11.19. We are prohibited from transacting business with individuals, companies and
countries that are on prescribed sanctions lists. We will, therefore, screen against
United Nations, European Union, UK Treasury and OFAC sanctions lists in all
jurisdictions in which we operate.

12. SUSPENSION OF ACCOUNT
12.1. We may withhold or suspend any Services (including your access to the Account)
or any part of its functionality, where:
12.1.1. We know or reasonably suspect that the providing of one or more
Services to you:
12.1.1.1. Is fraudulent or involves any criminal activity;
12.1.1.2. Is money laundering or relates to money laundering activities; or
12.1.1.3. Is otherwise in breach of applicable law.
12.1.2. You fail to provide on request such documentation as we (or any third
party whose services we use in providing the Services to you under these Terms)
reasonably require in order to comply with its obligations under applicable money
laundering laws and regulations or otherwise to ensure the verification of your
identity and/or funding sources to our satisfaction;
12.1.3. Any Cryptocurrency Transaction, Merchant Transaction, Fiat Currencies
deposit and/or withdrawal is significantly larger in size or is significantly larger in
volume than expected;

12.1.4. We reasonably believe that it is necessary or desirable to do so in order
to protect the security of the Account, including circumstances where any Login
Details may have been lost or stolen;
12.1.5. We are obligated to do so as a result of any law or regulation or the
direction of any competent authority or regulatory body; or
12.1.6. We reasonably suspect that you have provided us with false information
or fabricated documents.
12.2. In the case of such withholding or suspension described in this clause 12, we
shall make reasonable efforts to inform you about the withholding or suspension,
provided that such disclosure:
12.2.1. Is not in breach of any applicable law or regulation and does not
contravene the instruction of any competent authority or regulator; and
12.2.2. Would not compromise our reasonable security measures.
12.3. We shall not be liable to you for any losses you may suffer as a result of any
reasonable action we take to suspend your Account or withhold settlement of any
Funds, Cryptocurrency or other value associated with your Account in accordance with
this clause 12.
12.4. Where the reasons for our actions under this clause 12 ceases to exist, we may,
at our discretion, either reinstate access to the Account and the Services and/or issue
you with new Account details.

13. CLOSING OF ACCOUNT
13.1. Your Account may be closed upon the termination of these Terms in accordance
with these Terms. You accept that after your Account has been closed, we will store
personal data about you and all your transactions executed through our Services for a
period of five years.
13.2. If your Account holds a balance at the time of its closure, you will have to withdraw
any remaining Funds to your external bank account within 5 working days before we
are able to close your Account.
13.3. You may not close your Account to evade an investigation. If you attempt to close
your Account while we are conducting an investigation, we may suspend your Account
to protect all parties that are part of the Services, our affiliates, or a third party against
any liability. You will remain liable for any obligations related to your Account even after
it is closed.

14. TERMINATION

14.1. These Terms will continue in force until terminated in accordance with this clause
14.
14.2. We may terminate these Terms immediately upon providing you with written notice
for any reason, including (for the avoidance of doubt) in the following circumstances:
14.2.1. You breach any material term of these Terms and, if such breach is
capable of remedy, fail to remedy such breach within 7 (seven) days;
14.2.2. We determine that the user of the Account is not the initial registrant of
person who registered that Account;
14.2.3. You provide any information (including registration information) which you
knew to be false or were reckless as to its truth;
14.2.4. The result of laws, payment scheme rules, regulatory authority rules or
guidance or any change in or any instruction thereof (or change in the
interpretation or application thereof) means that it is unlawful or contrary to any
such law, rules, order or regulations for either of the parties to these Terms to
perform or give effect to any of its obligations hereunder and such obligation
cannot be readily severed from these Terms;
14.2.5. You are subject to a bankruptcy, insolvency, winding up or another similar
event; and/or
14.2.6. You fail to log in to your Account for an uninterrupted period of five years.
14.3. Without prejudice to any rights that have accrued under these Terms or any of
your rights or remedies, we may at any time terminate these Terms with immediate
effect by giving written notice to you if:
14.3.1. We are unable to verify your information in the manner set out in these
Terms;
14.3.2. You die;
14.3.3. We have reason to believe that your use of the Services: damages,
corrupts, degrades, destroys and/or otherwise adversely affects the Services, or
any other software, firmware, hardware, data, systems or networks accessed or
used by you;
14.3.4. There is a significant fluctuation (either positive or negative) in the
aggregate number of Cryptocurrency Transactions or Merchant Transactions you
enter into;
14.3.5. You have acted or omitted to act in any way which we reasonably
determine to diminish our or our Banking Partners business operations and/or
reputation and/or goodwill and/or which we reasonably determine or suspect to
give rise to any offence or any increased risk or liability to us; and/or

14.3.6. We are unable to provide the Services to you through the inability of any
third party to provide us with any good and/or service that we require to provide
the Services to you.
14.4. You may terminate these Terms by providing us with two months' notice via the
Website. When you choose to terminate in this way, we will suspend all transactions on
your Account for a period of two months and, at the expiry of that period, we will delete
your Account unless you cancel the request. Account closure is permanent, you will not
be able to reactivate your Account. You must also provide means to allow repatriation of
residual Funds on the Platform to your external bank account.
14.5. Upon termination of these Terms, you agree to immediately terminate any
agreement which you have with Solaris or Clear Junction/Modulr (provided that such
agreement relates to the provision of the Services). We will not be liable in respect of
any fees that you may incur in respect of such termination.
14.6. On termination of these Terms, you must immediately cease using any of the
Services. Upon termination, your Account will be closed in accordance with clause 13.
14.7. Termination of these Terms requires the closing of your Account and the
termination of all Plutus Cards and Plutus Fiat Accounts, and the associated terms and
conditions. We will, in conjunction with our Banking Partners, deal with your remaining
Funds in accordance with these Terms and our Banking Partners terms.

15. REPRESENTATIONS AND WARRANTIES BY YOU
15.1. By applying for an Account, you:
15.1.1. Confirm that you are at least 18 years old (or, if different, the statutory
age for entering into contracts as is required by the law of the country in which
you reside) and have sufficient capacity to accept these Terms;
15.1.2. Represent that all Cryptocurrencies which you provide in relation to the
Services are legally acquired and owned by you;
15.1.3. Confirm that you are not resident in a restricted jurisdiction, it being
understood that such jurisdictions are specified on the Website;
15.1.4. Represent that all purchases of goods or services you make in a
Merchant Transaction are legally acquired and owned by you; and
15.1.5. Confirm that the information provided at the time of registration is true
and accurate.
15.2. By using the Services, you agree to:
15.2.1. Comply with all laws which apply to you, including the reporting of any
transaction profits for tax purposes;

15.2.2. Comply with any reasonable rules which we state on the Website in
relation to the PlutusDEX Service; and
15.2.3. Not use any of the Services for any illegal purpose.

16. NOTICE AND COMMUNICATIONS NOTE
16.1. You agree and consent to us sending you electronic Communications in
connection with the Services. We will provide Communications to you by making them
available on the Plutus Dashboard or by emailing them to you at the primary email
address in your Account.
16.2. You should regularly review the Plutus Dashboard, the Website and your primary
email address and open and review Communications that we deliver to you through
those means and it is your responsibility to ensure that you log onto the Plutus
Dashboard regularly. You are obligated to review your notices and to promptly report
any questions, apparent errors, or unauthorised transactions. Failure to contact us in a
timely manner may result in loss of funds or important rights.
16.3. We may contact you from time to time to notify you of changes or information
regarding your Account. It is your responsibility to ensure you regularly check the Plutus
Dashboard and that your contact information stored is up to date. You may contact us in
accordance with these Terms via the Plutus Dashboard.

17. DATA PROTECTION
17.1. We are committed to keeping your personal information safe. We process
personal information in accordance with applicable data protection legislation. Please
read our privacy policy to understand how we use and protect the information you
provide us (a copy of our privacy policy can be accessed here: https://plutus.it/privacy
(“Privacy Policy”).

18. COMPLAINTS
18.1. We take all complaints seriously. Any complaints about us or the services we
provide should be addressed to the Plutus Support Team at support@plutus.it.
18.2. Plutus Support Team will send you a final response to your complaint within 2
weeks of your complaint having being made. Should this not be possible, we will
contact you.

19. NONINTERVENTION BY US IN THE RELATIONSHIPS BETWEEN USERS

19.1. You acknowledge that we are only the supplier of the software which allows for the
operation of the PlutusDEX and the Plutus Service by providing the computerised tools
to enable Cryptocurrency Transactions. In relation to a Cryptocurrency Transaction, we
are therefore a third party to the agreement which you enter into with another Plutus
User for the sale or purchase of Cryptocurrency. We do not guarantee the identity of the
other party to the Cryptocurrency Transaction and furthermore, we do not guarantee
that an Order will be matched. If a dispute arises concerning the payment or execution
of an Order, you must contact us at support@plutus.it and we will try to resolve the
dispute on your behalf on a best effort basis.

20. FEES
20.1. If you use the Starter version of the Services, we will not charge you any monthly
fees but there is a small fee to cover the cost of the card. In addition, you may still be
liable to pay fees to Solaris or Clear Junction/Modulr, under the terms which you will
enter into with us and/or them (as applicable). The Starter version of the Services is
subject to daily, weekly and monthly financial limits which we will display on the Website
and which we may change from time to time including without limitation in relation to the
use of the Card and Cryptocurrency Transactions which you may enter into.
20.2. If you use the Everyday or Premium version of the Services, we will charge you a
monthly fee which we will display on the Website https://plutus.it/accounts (and which
we may change from time to time). More information about our plans are also available
on the following link: https://plutus.it/subscription-terms.
20.3. Our fee schedule can be found here https://plutus.it/fees.

21. TAX
21.1. It is your responsibility to determine what, if any, taxes apply to the payments you
make or receive, and it is your responsibility to collect, report and remit the correct tax to
the appropriate tax authority. We are not responsible for determining whether taxes
apply to your transactions, or for collecting, reporting or remitting any taxes arising from
the use of the Services. It is your responsibility to comply with any and all applicable tax
laws in connection with your use of the Services, including without limitation, the
reporting and payment of any taxes arising in connection with profits made the use of
the Services.
21.2. For the avoidance of doubt, we do not provide any investment advice in
connection with the Services.
21.3. We may provide information on the price and range of certain Cryptocurrency and
events that have affected the price of Cryptocurrency but this is not considered
investment advice and should not be construed as such. Any decision to obtain
exposure to Cryptocurrency offered as part of the Services is your decision and we will

not be liable for any loss suffered. If you are unsure about whether exposure to
Cryptocurrency is suitable you should contact an independent financial advisor.

22. WE MAY MAKE CHANGES TO THESE TERMS
22.1. We may at any time amend these Terms. We shall notify you of any changes to
these Terms, either by posting a notice on the Website or by emailing you at the email
address provided upon Registration. We will make it clear in these Terms when they
were last updated and you undertake to check these Terms whenever you log in to your
Account. Following any amendments, if you continue to use any of the Services you
shall be deemed to have agreed to the revised Terms. If you do not agree to the
amended Agreement, you must immediately stop the use of the Services and request
the closure of your Account.

23. WAIVER AND SEVERABILITY
23.1. Our or your waiver of the right to hold the other party to these Terms liable for
breaches of the Terms or any other liability as is agreed upon in these Terms shall not
be construed or deemed as a waiver of the right to hold the other party to these Terms
for other breaches of contract and a failure to exercise any right or remedy shall not be
construed in any way as a waiver of such right or remedy.
23.2. If any provision/s of these Terms are found unenforceable (the “Breaching
Provisions”), invalid or illegal by any court of competent jurisdiction (each and
collectively “Breach”, as applicable), the validity of the remaining provisions of these
Terms shall not be affected, and we shall replace the Breaching Provisions with terms
that are resemble the Breaching Provisions as much as possible without such
provision/s being in Breach.

24. ASSIGNMENT
24.1. We may transfer our rights and obligations under these Terms to another
organisation.
24.2. You may not transfer to any third party any of your rights or obligations under
these Terms without our written consent.

25. NO THIRD PARTY RIGHTS
25.1. These Terms are between you and us. Other than as provided in clause 24.1
above, no other person shall have any rights to enforce any of its terms.
26. ENTIRE AGREEMENT

26.1. These Terms constitute the sole and entire agreement between you and us with
respect to the Services and supersedes all prior and contemporaneous understandings,
agreements, representations and warranties, both written and oral, with respect to the
Website.

27. GOVERNING LAW AND JURISDICTION
27.1. These Terms are governed by English law. This means that the Services (and any
dispute or claim arising out of or in connection with it, including non-contractual claims
or disputes) will be governed by English law.
27.2. You can bring legal proceedings in respect of claims or disputes (including
non-contractual claims or disputes) arising from or related to these Terms in the English
courts. If you live in Scotland, you can bring legal proceedings in either the Scottish or
the English courts. If you live in Northern Ireland, you can bring legal proceedings in
either the Northern Irish or the English courts.

YOUR COMMENTS AND CONCERNS
All other feedback, comments, requests for technical support and other communications
relating to the Website should be directed to support@plutus.it.
Thank you for visiting the Website.