1. General Terms and Conditions (GT&C)
Taurus (owned and operated by Taurus Group SA) offers an online digital assets (bitcoin, ether, ripple and similar) brokerage platform and various related financial services (hereinafter ”Taurus” or the “Website”). The accessing and use of the Website are governed by the Important Legal Information (hereinafter ”GT&C”) set out herein. These GT&C shall be supplemented by any and all special agreements applying in connection with a service or product offered by Taurus where you or Your representative (hereinafter ”You” or “Your”) act in a capacity as contracting party with Taurus. Nevertheless, in the event of any conflict, the provisions contained in any such special agreement shall prevail.
By accessing and using the Website, You acknowledge that You have read, understood and agreed to be bound by the GT&C. Furthermore, You accept that Taurus may, at any time and without any prior notice requirement, alter the GT&C. If You do not agree to the GT&C, do not access or use the Website in any way whatsoever.
The words cryptocurrency and digital asset have similar meanings in this document.
2. Local restrictions – provision of cross-border services
The products and services presented on this Website are authorized for sale in Switzerland. They are not intended for any person/s who, based on their nationality, place of business, domicile or for any other reasons, is/are subject to legal provisions which prohibit foreign financial services providers from engaging in business activities in these jurisdictions, or which prohibit or restrict legal entities or natural persons from accessing websites of foreign financial services providers.
Where Taurus is not authorized by the supervisory authority of a certain country, Taurus can as a general rule not promote financial services in that country. This Website may however contain information, in particular about financial services and products offered by Taurus, that may be considered by the supervisory authorities of the above-mentioned countries as a public offer of financial products or a canvassing targeting persons domiciled in the concerned countries. If You are domiciled outside of Switzerland, You confirm that You access this Website on Your own initiative and without any solicitation from Taurus.
3. Website Ownership
The Website is the exclusive property of Taurus. Taurus’s proprietary rights shall not be altered in any way by any reproduction or use of the Website.
4. Copyright and Trademarks
The content and layout of the Website are protected by copyright (all rights reserved) and other intellectual property rights, held by Taurus.
Information provided on the Website may only be downloaded, printed or otherwise reproduced – for personal, non-commercial purposes – provided that the copyright notes and other statutory proprietary designations are retained. You do not acquire rights by reproducing or copying in any way information available on the Website; all rights are retained by Taurus. You are strictly prohibited from using anywhere other than on the Website and from copying in any way whatsoever software or any other tools available on the Website.
It is forbidden under any circumstances to set up links, e.g. in the form of hyperlinks or inline links, to this Website, to frame it, or to access it through inline links or through a frame, without Taurus’s prior written approval.
It is forbidden to reproduce in whole or in part, transmit by electronic or any other means, modify or use copyright elements of this website for public or commercial purposes without Taurus prior written approval.
Taurus in particular is a trademark of Taurus Group SA. Other verbal and/or graphic elements featuring on the website and used to identify the origin of a product or service may be the trademarks of their respective owners, for example the trademark of one of Taurus’s commercial partners. These trademarks may not be reproduced or used without the prior permission of their owners.
5. No Advice or Recommendation
All information provided, including but not limited to analyses, opinions, articles published on the Website, transmitted or otherwise made available to You by Taurus is provided for information purposes only and should in no event be construed as piece of advice or a recommendation to buy or sell a particular digital assets (bitcoin, ether, ripple and similar)or to engage in any transaction whatsoever; nor should the information provided be construed as advice of any other type, for example of a fiscal, financial or legal nature.
All of the investment decisions You take shall be based exclusively on Your own assessment of Your financial situation and Your investment goals. You are solely responsible for such decisions.
Investments in digital assets (bitcoin, ether, ripple and similar) featuring on the Website are subject to certain risks. The price of digital assets (bitcoin, ether, ripple and similar) may go down as well as up. The future performance of digital assets (bitcoin, ether, ripple and similar) cannot be guaranteed by past performance. It is therefore possible that You do not get back the amount You invest. We strongly recommend that You seek professional advice before taking investment decisions.
6. Exclusion of Liability
Taurus, its directors, officers, employees, agents, affiliates or shareholders, safe for cases of gross negligence or willful intent, will not assume any liability for any loss or damages whatsoever, be they direct or indirect, incurred as a result of accessing the Website or using the information and services available on the Website, or as a result of the inability to access or use any information or services available on the Website.
In particular, it is expressly stated that in no event will Taurus, its directors, officers, employees, agents or shareholders be liable for any loss or damages incurred as a result of errors, technical or otherwise, transmission failures, system overloads, usage problems, interruptions in services (including but not limited to system maintenance services), any delay in the transmission of information, incompatibility between the Website and Your files and/or software (in particular Your browser) and/or computer, malfunction, interference, the transmission of a virus onto Your computer, unauthorized access (as a result of hacking or piracy activities for example), the willful blocking of telecommunications tools or networks (as a result of mail-bombing, denial of services attacks, for example) or any other failure or inadequacy on the part of telecommunication or network service providers.
You shall indemnify, defend and hold harmless Taurus, its directors, officers, employees, agents, affiliates or shareholders with respect to any claim, demand, cause of action, debt, judgment or liability, including reasonable attorney’s fees, to the extent that it is based upon a claim that : (i) arises out or in relation to You use of the Website and/or Taurus’s services, (ii) any breach or violation by You of any term or provision of these GT&C or of any other special agreements applying in connection with a service or product offered by Taurus, and/or (iii) any messages, information or materials uploaded, posted, published or otherwise transmitted by You in connection with the Website and/or services provided by Taurus.
8. No warranty
Although Taurus intends to provide accurate and timely information, the Website may not always be entirely accurate or complete and may also from time to time include technical inaccuracies or typographical errors. You acknowledge and agree that Taurus’s services are provided on an ‘as is’ and ‘as available’ basis. Taurus does not warrant or guarantee, either expressly or implicitly, the quality, pertinence, accuracy, completeness, update status, availability or legality of the information published on the Website, transmitted to You or otherwise made available to You. Information may be changed or updated from time to time without notice, including without limitation information regarding Taurus’s policies, products or services. You should verify all information before relying on it and all Your decisions based on information contained on the Website are Your sole responsibility and Taurus shall in no event be held liable for such decisions. You are aware that Taurus is not managing nor responsible of the digital assets’ (bitcoin, ether, ripple and similar) associated blockchain. Any digital assets (bitcoin, ether, ripple and similar) You may have access to, are not under Taurus’s management or responsibility. Taurus does not endorse any digital assets (bitcoin, ether, ripple and similar) of any kind whatsoever. By using Taurus’s services, you acknowledge that any digital assets (bitcoin, ether, ripple and similar) are experimental alternative currencies which are currently under development and that their operation is not predictable and that they do not offer any guarantee of performance whatsoever.
The activation of certain links on the Website may cause You to leave the Taurus Website. Taurus does not review any of these linked websites and does not warrant or guarantee, either expressly or implicitly, the quality, pertinence, accuracy, completeness, update status, availability or legality of the content of these sites, nor shall it be in any way responsible for the products, services, information and other content offered via these linked sites. The same applies to websites offering links to Taurus ‘s Website. Furthermore, prior written approval must always be obtained before a link from an external site to Taurus ‘s Website can be created.
10. Confidentiality and Encryption
Your attention is drawn to the fact that the data exchanged between Yourself and Taurus is transmitted via open, public networks (such as the Internet) that are not subject to any controls or reviews. The data transferred may travel beyond Switzerland’s borders, even if both Yourself and Taurus are located in Switzerland. In addition, even if the data transmitted is encrypted, it may not necessarily stay encrypted for the entire duration of the transmission, nor may it necessarily remain encrypted at Your end: it is possible that data may be intercepted. Furthermore, You hereby declare that You have taken note that the legislation applicable in Your country may prohibit or restrict the importing, exporting or use of encryption logarithms. In no event shall Taurus be responsible for any violations of measures governing the importing, exporting or use of encryption logarithms. You alone shall be responsible in the event of any such violation. Lastly, Your attention is drawn to the fact that information transmitted electronically, e.g. by e-mail or SMS, is in principle not encrypted and may be intercepted.
11. Confidentiality in Respect of User IDs and Passwords
You are solely responsible for keeping Your user IDs, passwords and other means of identification secret. To this end, You must not store Your user IDs, passwords or other means of identification in Your browser and You must delete all temporary files stored in Your cache memory as well as Your surfing history. You are solely responsible should such means of identification be communicated to, discovered or misused by a third party, and for any and all losses and damages resulting there from. You have taken note of the fact that You are required to disconnect from the identification services proposed by Taurus before leaving Your Internet station. To do this, You must close all Your browser windows showing the site.
12. Proper use of the website
You undertake to use the Website in a proper and reasonable manner, and not to misuse the Website in any way or use it in such a way as might occasion, for example, the overloading of the Website, any delay in the transmission of information, any interruption of service, blockage of access to the Website or any other effect detrimental to Taurus or to the users of its Website. In particular, it is forbidden:
- to effect email-bombing or any denial-of-service attack (in particular flooding) or any similar attempt similar;
- to infect the Website with any virus, worm, Trojan horse or other software, or any similar attempt;
- to gain or attempt to gain unauthorised access to the servers administering the Website, or to circumvent or attempt to circumvent or to disable or attempt to disable the Website’s security features (hacking);
- to update the information provided on the Website using automatic updating programs, e.g. such as are provided by other websites;
- to use offline readers or similar software, in particular such as would allow the mass downloading of data from the Website onto Your hard disk.
Furthermore, by accessing the Website and/or by using Taurus’s services, you confirm that you will not conduct any unlawful activity such as activity which would breach, or assist in the breach of, any law, statute, ordinance or regulation, or which would involve proceeds of any unlawful activity, publish, distribute or disseminate any unlawful material or information.
Should You undertake any of these actions, Taurus reserves the right to deny You access to the Website, even if You are a registered customer of Taurus.
13. Registration and Use of Your Data and Activities on the Website
By consulting this Website and/or using Taurus’s services, you acknowledge and give Your consent that Taurus may record and process all of Your actions on this Website for security, system monitoring, management, marketing and compliance with the legal and regulatory requirements to which Taurus is subject. Taurus will store this information under the appropriate security conditions for a limited period of time.
Taurus will not pass on Your personal information to third parties, except in the following special circumstances:
- In compliance with the legal and regulatory obligations to which Taurus is subject, including but not limited to the Federal Act on Combating Money Laundering and Terrorist Financing (AML), by the Ordinance on Combating Money Laundering and Terrorist Financing (MLO), the Ordinance of the Swiss Financial Market Supervisory Authority on Combating Money Laundering and Terrorist Financing in the Financial Sector (OBA-FINMA), as well as the Regulation of the Association for Quality Assurance in the Financial Services Sector (VQF);
- Taurus ‘s Technical Support is an external support. When You use it, personal information – such as Your username, first and last names, email address, phone number, IP address and payment information – is stored by this external support;
- The authentication of Your identity documents is carried out by a specialized external company. As a result, this company has access to these documents (only).
14. User Registration
The submission and validation by Taurus of various documents, referred to in these GT&C, is required for the purchase and sale of digital assets (bitcoin, ether, ripple and similar), as well as for the conversion of digital assets (bitcoin, ether, ripple and similar). There is no pre-existing registration fee. Taurus may refuse any registration without having to provide a reason, may exclude any registered user – including in cases of fraud, scams, forged securities or forged certificates – or may refuse to enter into any transaction. Banned users are not allowed to re-register on the Website nor require or use Taurus’s services. By doing so, these users may be subject to criminal prosecution.
Taurus is required to keep records of transactions for ten years. This period will start from the end of the execution of the transactions or, if more than one transaction forms a whole, from the end of the last transaction. Therefore, if You have made transactions, Your account cannot be deleted. However, it will be disabled.
15. Terms of purchase of Digital assets (bitcoin, ether, and similar)
You can create a purchase order by entering the desired amount and the currency of the payment. Choose the preferred payment method and follow the instructions displayed on the Website.
Prices are quoted in Euros, US Dollars or Swiss Francs or any other currency available for payment and include Swiss VAT (if applicable). Payment can be made by bank transfer or by any other means of payment available on Taurus’s Website. The exchange rate for digital assets (bitcoin, ether, and similar) is set at the time Taurus receives Your payment and can therefore vary significantly. We would like to point out that a bank transfer may take between one and five working days before it reaches its recipient.
The transaction costs of the digital assets (bitcoin, ether, and similar) which will be transmitted to You are included in the basic price set forth in the specific agreement signed by You and Taurus.
If transaction fees have been deducted by Your bank or by any other intermediary from the amount You agreed to pay, Taurus will pay in cryptocurrency the equivalent of the amount it actually collected.
If transaction fees are charged to Taurus for the receipt of the payment order You made, Taurus will deduct these fees (including currency exchange fees) from the amount received and will pay the equivalent of the latter amount in cryptocurrency.
Purchase orders will be processed by Taurus within five business days of receipt of payment. If the payment order is not processed within the aforementioned period, You are obliged to inform Taurus immediately in writing at [email protected]. If You do not meet this obligation, You will not be able to make any claim for the variation in the exchange rate.
16. Terms of sale of Digital assets (bitcoin, ether, and similar)
You can create a sale order by entering the desired amount and the desired currency of payment. You must then follow the instructions posted on the Website.
Prices are quoted in the cryptocurrency available for payment and include Swiss VAT tax (if applicable). Payment must be made by transferring cryptocurrency to a single-use address provided by Taurus during the process. You will have 60 minutes to transfer Your cryptocurrency.
Any bank fees will be charged to You.
Sale orders will be processed by Taurus within a period of five working days. This period begins upon receipt of the cryptocurrency into Taurus’s single-use address and after Your transaction has been cleared and entered in the relevant Blockchain. If the payment order is not processed within the aforementioned period, You are obliged to inform Taurus immediately in writing at [email protected]. If You do not meet this obligation, You will not be able to make any claim for the variation in the exchange rate.
17. Your responsibilities and obligations when You place an order (purchase, sale or conversion):
When You place a purchase order
- Prerequisites: You must place a purchase order before making a payment. Therefore, if You make a payment without a corresponding purchase order, Your funds will be automatically returned. The bank fees will be charged to You and You may also be charged for administrative fees.
- Minimum amount: You are not allowed to place a purchase order for less than the minimum amount indicated on Taurus’s platform or in the special agreement You have signed with Taurus.
- Difference between the amount shown on the purchase order and the amount actually received by Taurus: You must pay Taurus the amount You have indicated in Your purchase order. If the amount You pay is less or more than the amount shown on Your purchase order, the equivalent in cryptocurrency will be automatically adjusted by Taurus, subject to any applicable limit and the minimum amounts indicated on Taurus’s platform. The bank fees will be charged to You and You may also be charged for administrative fees.
- Address to be provided: to receive Your purchased digital asset, You must provide Taurus with a corresponding address that is valid and that You control. If You place a purchase order and provide Taurus with an address that is invalid or that does not belong to You – such as a wrong digital asset address or an Initial Coin Offering (ICO) address – Your funds will be lost. Taurus may perform searches to try to recover the lost digital assets but will not be required to do so and will in no case be held liable for any loss of Your funds in such a case. These searches remain at Taurus’s discretion and will be charged to You.
- Payment Reference: when You transfer FIAT currency to Taurus in order to buy a digital asset, You must enter the unique reference number that Taurus provided you to identify your purchase. If the afore-mentioned reference does not appear on the payment order, Your funds will be returned. The bank fees will be charged to You and You may also be charged an additional administrative fee.
- Cancellation of purchase orders: purchase orders may be cancelled as long as the FIAT funds have not been received by Taurus. If You have wired the funds, but Taurus has not yet received them, Your funds will be returned. Any bank fee will be charged to You and You may also be charged an additional administrative fee.
When You place a sale order
- Prerequisites: You must place a sale order before making a payment. Therefore, if You make a payment without a corresponding sale order, Your funds will usually be lost, unless Taurus is able to recover and return them. All requests to recover funds must be made through Taurus’s technical support at [email protected]. You may be charged for administrative fees.
- Minimum amount: You may not place a sale order for an amount less than the minimum amount indicated on Taurus’s platform.
- Difference between the amount on the sale order and the amount actually collected by Taurus: if the amount You transfer is less or more than the amount shown on Your sale order, the equivalent in foreign currency will be automatically adjusted by Taurus, subject to any applicable limit and any minimum amount indicated on Taurus’s platform. Any bank fee will be charged to You and You may also be charged for administrative fees.
- Address provided by Taurus: You must make the payment by transferring your digital asset(s) to a single-use address provided by Taurus. If You send your digital asset(s) to an address other than the one provided by Taurus, Your funds will be lost, if Taurus does not hold the private keys for these addresses. Taurus may perform searches to try to recover lost digital asset(s), but will not be required to do so and will in no case be held liable for any loss of Your funds in such a case. These searches remain at Taurus’s discretion and may be performed when large amounts of money are involved. You will have to pay for the costs of the search, which will take into account the technical complexity and the time required for the search.
- Bank reference to be provided to Taurus: in order to receive Your currency, You must provide Taurus with the reference of a bank account that is valid and which belongs to You. If You provide Taurus with an incorrect bank reference or one that belongs to a third party, Your funds will be lost. Taurus may perform searches to try to recover lost cryptocurrency, but will not be required to do so. These searches remain at Taurus’s discretion. These searches remain at Taurus’s discretion and will be charged to You.
- Time limit for payment of digital asset(s): You must make the cryptocurrency payment within 60 minutes of placing the sale order.
- Network fees: if the network fees chosen by the originator of the digital asset(s) (the customer) are too low or if the transaction is not confirmed on the corresponding Blockchain within one hour of the sale order, Taurus may not receive the digital asset(s) ontime and You bear the risk of significant variation of the exchange rate.
- Cancellation of the sale order: sale orders may be cancelled, as long as the cryptocurrency has not been received by Taurus.
Taurus reserves its right to make changes or modifications to the present GT&C from time to time, in Taurus’s sole discretion. Should such changes occur, Taurus will notify You, either by email, by posting a notice on the Website or by any other means available. The amended GT&C will be effective immediately upon posting. Should You not agree with the amended terms, You should cease to use the Website and/or Taurus’s services and contact Taurus to terminate Your account.
19. No Waiver
Taurus’s failure or delay in exercising any right, power or privilege under these GT&C shall not operate as a waiver thereof.
The invalidity or unenforceability of any of the terms contained in these GT&C shall not affect the validity or enforceability of any other terms of these GT&C, all of which shall remain in full force and effect.
21. Force Majeure
Taurus shall not be deemed to be in default of any provision of these GT&C or be liable for any delay or failure in performance due to Force Majeure, which shall include without limitation acts of God, earthquake, weather conditions, labour disputes, changes in law, regulation or government policy, riots, war, fire, epidemics, acts of omissions of vendors or suppliers, equipment failures, transportation difficulties, malicious or criminal acts of third parties, or other occurrences which are beyond Taurus’s reasonable control.
22. No Assignment
You may not assign or transfer any of Your rights or obligations under these GT&C without the prior written approval from Taurus, including by operation of law or in connection with any change of control.
Headings of sections are for convenience only and shall not be used to limit or construe such sections.
24. Applicable Law and Jurisdiction
The present GT&C shall be governed by and construed in accordance with the laws of Switzerland, excluding its conflict of law provisions.
All disputes arising out of or in connection with these GT&C and/or the use of the Website and/or Taurus’s services shall be submitted to the competent courts of the Republic and Canton of Geneva, Switzerland, an appeal to the Swiss federal court in Lausanne being reserved. Taurus nevertheless reserves the right to initiate proceedings against You before the competent court at Your domicile or any other competent authority.
For any questions about these GT&C, please contact Taurus at [email protected].
In case of discrepancy, the English version shall prevail.
Last update in July 2018