SBICrypto Pool Terms of Service

Thank you for choosing to use SBICrypto Pool. We are glad you are here.

IMPORTANT – Please read the following Terms of Service (“Terms”).

The website (sbicrypto.com), its subdomains, mining pool service (“SBICrypto Pool”) and related services (all services are collectively referred to as the “Services”) are provided to you (“You” or the “User”) by SBI Crypto Co., Ltd. (“SBI Crypto”, or the “Company”), a corporation organized and existing under the laws of Japan, with its registered office at 15F Izumi Garden Tower, 1-6-1 Roppongi, Minato-ku, Tokyo 106-6019. The Terms outline the respective rights and obligations of both Parties.

1. Preamble

  1. By registering an account, using the Services, viewing the Website, or connecting to any of the Company’s servers, You agree to be bound by these Terms, as well as any subsequent terms to which these Terms refer.
  2. You acknowledge and agree that the Company can modify or amend these Terms and any subsequent terms at any time without Your consent. The Company will try to notify You at the time any changes are made using the contact information available. Notification by the Company is not required. It is Your responsibility to periodically check these Terms and information available on the Website.

2. Services

  1. Mining Pool – The Company purchases verified, accepted hashes and solutions (“Shares”) corresponding to specific computational work requests (“computational jobs”) assigned to the User’s equipment by the Company’s servers. Payment for each share is paid in the form of digital assets chosen by the User and the price is determined by the Company. Payment is made once per day unless otherwise mutually agreed upon. After registering an account, the User must register a subaccount, and a payment address before connecting their mining equipment to the Company’s servers. If the Company does not recognize the subaccount name reported by the mining equipment, it will refuse to assign computational jobs or accept shares offered by the User. If the User misconfigures the subaccount name to an existing name belonging to a different owner, the User forfeits any payments for shares submitted under the incorrect name. The company may refuse to accept Shares offered by the User, without having to give a reason and the Company’s servers will send an automated reply of a rejected or stale share.
  2. Mining Pool Dashboard – The Company provides a user interface on its website that allows the user to monitor approximate hashrate of its equipment, view records of past payments, modify the digital asset type to receive payment, create new subaccounts and register addresses to receive payments.
  3. Mining Pool Private API – The Company provides an API that allows the User to monitor the approximate hashrate of its equipment.
  4. Mining Pool Public API – The Company provides an API that allows the User or anyone to obtain the approximately total hashrate controlled by the Pool.
  5. Website – The website provides approximate statistics related to the pool, policy documents, support and help documents, account registration services, and the Mining Pool Dashboard.

3. Payment

  1. Unless otherwise expressly stated, all prices are stated exclusive of Consumption Tax or VAT and other sales taxes, which shall be paid by the User at the tax rate and in the manner prescribed by Law.
  2. The User represents and warrants that no withholding or other tax is required to be withheld from payments and on that basis, SBI Crypto will not withhold any such tax.
  3. The User acknowledges that the Company does not hold custody of their funds, and they must provide an address to receive payments. Failure to do so, may result in refusal of service.
  4. The Company purchases Shares at a rate determined by the Company’s absolute discretion. The User agrees to sell Shares at the rate determined by the company by connecting their mining equipment to the Company’s servers.
  5. Payments are calculated by the Company based on shares purchased between 00:00 UTC to 23:59 UTC. The Company will generally make payments for purchased Shares once per day around 09:00 UTC, unless otherwise agreed upon by both Parties. Payments are made in the digital assets chosen by the user to the payment address registered for each subaccount.
  6. A fee, calculated as percent of total payment, may be kept by the Company. The company will pay the amount for the purchased Shares less any fees. The fees will be transparently shown to the user in their payment history. The Company will notify the User of any changes to the fee rate.

4 User Qualification

  1. You represent and warrant to the Company as follows: (a) If you are an individual you are at least 18 years old, and you the power to form a binding contract under applicable laws and regulations; (b) If you are a legal person or entity, you have full legal capacity, have all necessary consents and are authorized to enter into an agreement to be bound by the Terms; (c) Your use of the Services or performance of your obligations does not violate or conflict with the laws of Japan, any law applicable to you, or any contractual restriction affecting you or your assets when using or accessing the Services; (d) You are not subject to any economic sanctions programs administered by any relevant country including but not limited to: US Department of Treasury, US Department of State, Japan, the United Nations Security Council, the European Union, or any of the following embargoed and high-risk jurisdictions: Libya, Iran, Sudan, Central African Republic, Congo, Iraq, Somalia, Yemen, Syria, North Korea, South Sudan, Lebanon, Zimbabwe, Cuba, Burundi; (e) You are not using the Services on behalf of a third party.

5. User Undertakings

  1. The User undertakes the following: (a) to comply with all applicable laws in the performance of its obligations under these Terms including use of the Services; (b) to immediately notify SBI Crypto in the event that Customer, any of its affiliates or their respective shareholders, directors, officers, employees, representatives or agents violate any applicable Laws or are investigated or prosecuted by any law enforcement agency in any jurisdiction in relation to any violation of Law; (c) on request of the Company, comply with providing additional documentation verifying identity or corporate registration, and agree that payments may be delayed if documentation is not provided in a timely manner, including but not limited to, cases where the Company must report to the Bank of Japan a payment greater than an equivalent value of 30 million Japanese Yen; (d) to not register multiple accounts for profit making, prize winning, abuse of promotions and discounts; (e) to not use the Services to: i. Participate in money laundering; ii. Violate or harm the legitimate interests of others, including but not limited to other Users and the Company; iii. Support, incite, or participate in any terrorist activities; iv. Undermine or circumvent applicable laws and regulations; v to bear all costs related to the User’s equipment, Internet connection, and facilities where the equipment is operated; vi to be responsible for assuming and paying all tax obligations arising from use of the Services. vii to not manipulate computation job assigning algorithms, the Services, in an unfair way or in any way unintended by the Company. Failure to follow the above obligations may result in (a) Company’s suspension of the User’s account and access to the services, (b) forfeiture of payments (c) compensation for damages suffered by the Company. Account
  2. SBI Crypto reserves the right to suspend access to your account, the Services at any time in the case of (1) suspicion of breach of these Terms or violation of applicable laws; (2) subpoena, court order or other government order; (3) your account is subject to or related to pending litigation or investigation; (4) suspected unusual or unauthorized activity.
  3. SBI Crypto reserves the right to close or permanently suspend your account and access to the Services in the event that (1) the information provided by you is untruthful or inaccurate; (2) you use the Services to engage in illegal activities; (3) you are subject to economic sanctions and embargoes. In the cases (a) and (b) above, SBI Crypto is not liable for any loses or damages caused by suspension or closure of your account and access to the Services.

6. Warranties, indemnities and non-disparagement

  1. The User agrees to indemnify, defend and hold the SBI Crypto Organization harmless from all loss, liability, claims or expenses (including reasonable attorneys’ fees) arising out of its negligence or breach of these Terms and Conditions by the User. The User’s indemnification obligations herein shall survive any termination of the Services
  2. The User agrees to take no action that is intended, or would reasonably be expected, to harm the SBI Crypto Organization or its reputation, or which would reasonably be expected to lead to unwanted or unfavorable publicity to the SBI Crypto Organization. Such actions include without limitation disparaging remarks, comments or statements that impugn the character, honesty, integrity, morality or business acumen or abilities in connection with any aspect of the operation of the SBI Crypto Organization's business.
  3. The User agrees that any claim they may have shall be brought individually and the User shall not join such claim with claims of other persons or entity or bring, join, or participate in a class action lawsuit.

7. Limitation of Liability

  1. This section limitation of liability shall survive termination of the Services and these Terms. SBI Crypto, its officers, directors, employees, agents, and all third-party service providers shall not in any circumstances be liable, whether in tort (including for negligence or breach of statutory duty howsoever arising), contract, misrepresentation (whether innocent or negligent) or otherwise for: (a) loss of profits (including any Bitcoin Production); (b) loss of business; (c) depletion of goodwill or similar losses; (d) loss of anticipated savings; (e) loss of goods or any damage to property (including the Equipment) howsoever caused; (f) loss of use; (g) loss or corruption of data or information; or (h) any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.
  2. SBI Crypto's total aggregate liability in contract, tort (including negligence or breach of statutory duty howsoever arising), misrepresentation (whether innocent or negligent), restitution or otherwise, arising in connection with the performance or contemplated performance of the Services shall in all circumstances be limited to the total amount of all fees taken from payments by SBI Crypto and payments made by the User to SBI Crypto pursuant to these Terms and Conditions during the 12-month period immediately preceding the event giving rise to SBI Crypto’s liability
  3. The Users total aggregate liability in contract, tort (including negligence or breach of statutory duty howsoever arising), misrepresentation (whether innocent or negligent), restitution or otherwise, arising in connection with the performance or contemplated performance of the Services shall in all circumstances be limited to the total amount of payments received from SBI pursuant to these Terms and Conditions during the 12-month period immediately preceding the event giving rise to the User’s liability
  4. SBI Crypto bears no responsibility for operation of the respective protocols and respective sudden changes in Bitcoin operating rules (“forks”), other non-standard cryptocurrency occasions, and the respective material change on the value, function, and/or even the name of Bitcoins. If a fork occurs during a period when SBI Crypto owes to the User digital assets as a payment, SBI Crypto may temporarily suspend the transfer of such payment, (with or without advance notice to the User) without any liability for the delay of the respective transfer. SBI Crypto may also, in its sole discretion, decide whether or not to support (or cease supporting) either branch of the forked protocol and the respective cryptocurrency entirely. In such case the User acknowledges and agrees that SBI Crypto assumes absolutely no responsibility whatsoever in respect of an unsupported branch of a forked protocol.
  5. SBI Crypto shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect the other User’s computer or other equipment, or any phishing, spoofing or other attack. SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from SBI Crypto.

8. Intellectual Property Rights

  1. Neither these Terms and Conditions nor the provision of Services transfers to the User any ownership or proprietary rights in the Technology or any license thereto.
  2. All content and materials available on the sbicrypto.com website and its subdomains are the intellectual property of SBI Crypto, and are protected by applicable international copyright and trademark law. Any inappropriate use, including but not limited to the reproduction, distribution, display or transmission of any content on this site is prohibited, unless specifically authorized by SBI Crypto in writing.

9. Force Majeure

  1. Notwithstanding anything to the contrary herein, SBI Crypto shall not in any circumstances be in breach of these nor liable for delay in performing, or failure to perform, any of its obligations under these if such delay or failure results from events, circumstances or causes beyond its reasonable control, including, without limitation, strikes, lock-outs or other industrial disputes (whether involving the workforce of SBI Crypto or any other party), act of God or nature, pandemics, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, riot, civil commotion, compliance with any applicable Law or governmental order, rule, regulation or direction, accident, fire, explosion, flood, storm, lightening, earthquake, subsidence, epidemics, pandemics, or other natural disaster (“Force Majeure”). For the avoidance of doubt, SBI Crypto shall not be responsible for any loss of or damage caused to the User’s Equipment by any Force Majeure.
  2. If SBI Crypto is prevented from providing Services by reason of Force Majeure, (a) SBI Crypto will notify the User as soon as reasonably practicable; and (b) SBI Crypto’s obligations to the User may be suspended for the duration of the Force Majeure.

10. Protection of Personal Data

  1. Each party shall comply with its respective obligations under the provisions of applicable data protection laws.

11. Confidentiality

  1. Each party may have access to Confidential Information of the other party under this these Terms and Conditions. A party's Confidential Information shall not include information that: (a) is or becomes publicly known through no act or omission of the receiving party; or (b) was in the other party's lawful possession prior to the disclosure; or (c) is lawfully disclosed to the receiving party by a third party without restriction on disclosure; or (d) is independently developed by the receiving party, which independent development can be shown by written evidence; or (e) is required to be disclosed by Law, by any court of competent jurisdiction or by any regulatory or administrative body.
  2. Each party shall hold the other's Confidential Information in confidence, regardless of when received, and, unless required by Law, not make the other's Confidential Information available to any third party or use the other's Confidential Information for any purpose other than the implementation of these Terms and Conditions.
  3. Each party agrees to take all reasonable steps to ensure that the other's Confidential Information to which it has access is not disclosed or distributed by its employees or agents in violation of the terms of these Terms and Conditions.
  4. This section shall survive any termination of Services.

12. Rights and Remedies

  1. Except as expressly provided in these Terms and Conditions, the rights and remedies provided herein are in addition to, and not exclusive of, any rights or remedies provided by Law.

13. Severability

  1. If any provision or part-provision of these Terms and Conditions is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable.
  2. If no modification of an invalid, illegal, or unenforceable provision is possible pursuant to the above, the relevant provission or sub-provision shall be deemed deleted.
  3. Any modification to, or deletion of, a provision or sub-provision under this clause shall not affect the validity and enforceability of the rest of these Terms and Conditions. Assignment
  4. SBI Crypto may at any time assign, transfer, charge, sub-contract or deal in any other manner with all or any of its rights or obligations under these Terms and Conditions

14. Governing Law and Jurisdiction

  1. This Agreement and any disputes or claims arising out of or in connection with it and Services or its subject matter or formation (including non-contractual disputes or claims) are governed by and construed in accordance with the laws of Japan.
  2. The Tokyo District Court shall have exclusive jurisdiction to hear and determine any suit, action or proceedings, and to settle any dispute, which may arise out of or in connection with this Agreement and the parties irrevocably submit to the exclusive jurisdiction of the Tokyo District Court.

15. Entire Agreement

  1. These Terms constitute the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.