By virtue of the Virtual Assets Service Provider license (VASP) granted by the Bangko Sentral ng Pilipinas (BSP) to Maya Philippines Inc. (Maya), Maya offers its platform services to its Account Holders to be able to buy or sell Virtual Assets, using their Maya Account. Maya may use third party provider/s that will be integrated to the Maya platform to offer these Virtual Assets. The Platform shall present these offered Virtual Assets and the Account Holders may perform Transactions on the Platform under the following terms and conditions:

1. Before the Account Holder uses this Platform, the Account Holder is expected to learn and/or do his/her own research related to the Virtual Assets asset class. The Account Holder may access general learning materials through the Learning Page provided in this Platform or other learning tools found outside the Maya App that would help the Account Holder to decide on his/her transactions.
2. By using this Platform and performing transactions herein, the Account Holder is understood to have accepted the terms and conditions, including the risks involved in buying and/or selling Virtual Assets.
3. Use of this Platform shall also mean that the Account Holder allows Maya to:
   
   1. transfer funds to and from his/her account as instructed by the Account Holder or perform actions as accepted by the Account Holder in this terms and conditions;
   2. perform customer due diligence as required under the Anti-Money Laundering Act (AMLA);
   3. collect and submit his/her personal data, transactional data, and/or device data to the third party provider/s in order to execute its order/s or transaction; or
   4. submit any information that a regulatory body, particularly the AMLC, requires for suspicious transactions or covered transactions in order to comply with the AML, and for fraud prevention purposes.

   It is understood that the Account Holder must be in an upgraded status before performing any transactions in this Platform.

4. The Platform

   The Platform shall contain the information of the Virtual Assets that are available for the Account Holder to purchase. The Account Holder may perform the following activities in the Platform:

   1. Buy Virtual Assets
   2. Sell Virtual Assets
   3. Transfer funds to and from Account Holder’s e-wallet, for exit of proceeds of sale or purchase respectively
   4. View General Information regarding topics including but not limited to Virtual Assets, Cryptocurrencies, How-To’s etc.
   5. View Account Holder’s purchased Virtual Assets, transaction history, and its current valuation (Portfolio Page)
5. Buy Virtual Assets
   1. If the Account Holder intends to purchase Virtual Assets available in the Platform, he/she shall click the Buy button and the App shall proceed to the Buy Page.
   2. In the case where the Account Holder clicks on Buy Page straight on the Platform home page, he/she may choose the Virtual Asset he/she desires to purchase prior to being lead to the Buy Page. On the Buy Page, Account Holder may enter his/her desired Virtual Asset volume or amount offer.
   3. The Account Holder shall have 15 seconds in the Confirm Purchase sub-page to decide on whether or not to buy, otherwise, the Amount Offer shall be released. Once the Account Holder slides to transfer to confirm the payment, the transaction cannot be reversed and is considered final. The purchased Virtual Asset shall be reflected in the Account Holder’s portfolio in real time.
   4. The Account Holder understands that in using this Platform, there is a possibility that the Total Amount (as stated in the Platform) may be depleted or even be lost, depending on the actual published price of the Virtual Asset. This means that Virtual Assets change in value over time and valuation shall depend on the published price and not on the purchase price of the Account Holder. Published prices of the Virtual Assets are dictated by the third party provider who offers the Virtual Asset.
   5. Any decision regarding selecting, timing and acceptance of valuation shall be the decision of the Account Holder. The Account Holder shall be responsible for all of his/her purchase or disposition of Virtual Assets he/she owns in the Platform. Account Holder represents and warrants that he/she has sufficient knowledge, experience, understanding and information to make such evaluations and have taken such professional advice as he/she deems necessary and appropriate. Maya does not guarantee nor warrant favorable results in any of the transactions of the Account Holder.
6. Sell Virtual Assets
   1. The Account Holder may only buy/sell his/her owned Virtual Assets in exchange for Philippine Peso (PHP) through the Platform
   2. If the Account Holder intends to sell Virtual Assets currently owned in the Platform, he/she shall click the Sell button and the App shall proceed to the Sell Page.
   3. Prior to the Sell Page, the Account Holder may choose the Virtual Asset he/she desires to sell. On the Sell Page, Account Holder may enter his/her desired Virtual Asset volume or amount offer.
   4. The Account Holder shall have 15 seconds in the Confirm Sale sub-page to decide on whether or not to sell, otherwise, the Amount Offer shall be released. Once the Account Holder slides to transfer the payment, the transaction cannot be reversed and is considered final. The PHP proceeds
      from the sale of the Virtual Asset shall be reflected in the Account Holder’s Maya wallet in real time or up to two (2) business days later.
   5. The Account Holder understands that in using this Platform, there is a possibility that the Total Amount (as stated in the Platform) may be depleted or even be lost, depending on the actual published price of the Virtual Asset. This means that Virtual Assets change in value over time and valuation shall depend on the published price and not on the purchase price of the Account Holder. Published prices of the Virtual Assets are dictated by the third party provider who offers the Virtual Asset.
   6. Any decision regarding selecting, timing and acceptance of valuation shall be the decision of the Account Holder. The Account Holder shall be responsible for all of his/her purchase or disposition of Virtual Assets he/she owns in the Platform. Account Holder represents and warrants that he/she has sufficient knowledge, experience, understanding and information to make such evaluations and have taken such professional advice as he/she deems necessary and appropriate. Maya does not guarantee nor warrant favorable results in any of the transactions of the Account Holder.
7. Fees

   Maya may charge fees for each Transaction. Maya will charge a margin between the market price we receive from our Third Party Provider and the exchange rate between PHP and the Digital Asset displayed to the Account Holder. This margin considers costs rendered to provide this Service for each Transaction. Fees may be subject to the discretion of Maya, in accordance with the applicable laws, rules, and regulations.

   After each Transaction is completed, the Account Holder will be presented with a transaction summary and a reference ID for record keeping purposes. Please note that there may be tax consequences from any gain or loss incurred in the buy and/or sell of Digital Assets.

   Maya shall not be responsible for the withholding and remittance of applicable taxes to the Bureau of Internal Revenue on the income incurred by the Account Holder. If required by law, rule or regulation, Maya shall have the right to ask for a copy from the Account Holder which shall be submitted within the required period or within reasonable time. Maya shall have the right to suspend Transactions if the Account Holder does not comply with such requirement.

8. Transaction Limits

   The Account Holder understands that his/her account in the e-wallet page and his/her account in the Platform shall have one transaction limit. The Account Holder may increase his/her limits by adhering to Maya’s internal policies, which may include submission of corresponding KYC requirements, and Maya’s verification of such documents. Maya reserves the right to increase or decrease the Account Holder’s transaction limits as it deems necessary or appropriate.

9. Other Features

   Learning Page

   The Learning Page is a page accessible in the Platform which may be accessed by the Account Holder to familiarize himself/herself and learn from materials regarding cryptocurrencies. Maya will provide both proprietary and general content pulled from Third Party Sources. Please note that the information shared by Maya is meant to be used as a means of reference and in no way recommends a particular digital asset or investment movement.

   Crypto Alert

   The Account Holder can set and define certain Virtual Asset activity related alerts delivered via in-app push, email, and/or SMS. The Account holder can set alerts concerning a particular digital asset on Virtual Asset market.

   Transaction History

   The Account Holder can access his/her transaction history within the Platform and can recall transaction up to three (3) months prior. Account Holder can view the details of each transaction, similar to the information shared on the transaction receipts. The Transaction History is exportable to a report (i.e. CSV file, or other format) that may be downloaded and accessed by the Account Holder.

   Portfolio Page

   The Portfolio page is the section of the Platform where the Account Holder may view the breakdown of his/her owned Digital Assets and other related transactions (e.g. sell transactions). The Account holder may view his/her aggregate value of Digital Assets owned in PHP value, a chart showing the allocation of different owned Digital Assets, and the list of Digital Assets owned by the Account Holder.

10. Acceptable Use Policy

    Maya is the owner of the App or is licensed to use the platform, trademarks, trade name and other intellectual property being used in the Platform. Any party or person cannot use the said properties without the prior written consent of the owners thereof.

    Account Holder represents that he/she is a natural person who owns and controls the money used in the Transactions. The Account Holder cannot transact as an agent or a broker nor can he/she offer the buying or selling of the Virtual Assets in the Maya App to other persons or third parties and transact under his/her name. Violation of this provision shall allow Maya to suspend his/her account or terminate the account of the Account Holder in the Platform or with Maya.

    The Account Holder warrants that he/she shall only use the Platform as intended and allowed by Maya and its VASP license. The Account Holder shall not use the Platform nor perform activities that would result to illegal acts or abuse of the Platform or App. Illegal acts shall include violation of the Anti-Money Laundering Act and other laws, rules and regulations. Abusive acts shall include, but is not limited to abuse of promotions, marketing activities and other benefits given to the Account Holder which shall give Maya the right to claw back any monetary benefits from the e- wallet of the Account Holder or reverse the benefit given. The Account Holder shall be held liable for these acts and has the obligation to compensate Maya for any damages suffered because of these acts, regardless of whether the Account Holder profited or not

    The Account Holder shall not share, voluntarily or involuntarily his/her username and/or password or one-time pin (OTP) to any person or party regardless of any reason or intention. If there are transactions performed using the elected username and password of the Account Holder, whether or not he/she is really the Account Holder who used such, it is conclusive that he/she is the Account Holder who performed such transaction which shall be final and irreversible. Any damages suffered from this act shall solely be borne by the Account Holder.

    The Account Holder shall not share, voluntarily or involuntarily his/her username and/or password or one-time pin (OTP) to any person or party regardless of any reason or intention. If there are transactions performed using the elected username and password of the Account Holder, whether or not he/she is really the Account Holder who used such, it is conclusive that he/she is the Account Holder who performed such transaction which shall be final and irreversible. Any damages suffered from this act shall solely be borne by the Account Holder. The Account Holder shall not decompile or disassemble, reverse engineer, or otherwise attempt to discover any source code contained in the Service or Platform. Without limiting the foregoing, the Account Holder agrees not to reproduce, duplicate, copy, sell, resell, or exploit for any commercial purposes, remove, alter, sub-license, private label, create derivative works, or grant security interests in, any aspect of the Service or any intellectual property therein or in the Platform. Maya neither warrants nor represents that the Account Holder’s usage of any materials displayed on this website will not infringe the rights of third parties.

    By using the services, the Account Holder represents that he/she is a resident of the Philippines. Access to the services from jurisdictions where their content or function may be illegal is prohibited. The Account Holder acknowledges that he/she is aware of the rules of the Philippines and will not use the services if such use is prohibited or otherwise violates Philippine laws, and that he/she is solely responsible for determining compliance with all applicable local laws in his/her jurisdiction. Maya reserves the right to suspend or terminate the Account Holder’s access to the services without prior notice if Maya determines, in its judgment, that the Account Holder resides in a jurisdiction that prohibits the use of the services

11. Indemnification and Limitation of Liability
    1. The Account Holder agrees to indemnify, defend and hold harmless Maya, its subsidiaries and affiliates, and their directors, officers, employees and agents, from and against any loss, damage, liability, costs and expenses, including reasonable attorney’s fees (collectively, “Losses’), arising out of or based on: 1) breach of, or failure to perform, any obligation of Account Holder contained in this Agreement; 2) the gross negligence or willful misconduct of the Account Holder; or 3) errors incurred by or judgments/decisions made by the Account Holder.
    2. The Account Holder may be penalized by Maya equivalent to the amount of damage or cost incurred or penalty paid arising from the Account Holder’s action or from failure to comply with any provision of this Terms and Conditions as well as other agreements with Maya.
    3. Maya agrees to indemnify, defend and hold harmless the Account Holder, from and against any losses arising out of or based on (a) breach of, or failure to perform, any obligation of Maya contained in this terms and conditions, or (b) the gross negligence or willful misconduct of Maya.
    4. Maya does not guarantee that this Platform shall function 100% at a time, it does not also guarantee that it will function the way the Account Holder intends it to function. In this case, Maya shall not be liable for any losses that the Account Holder may suffer, including losses during the downtimes, both scheduled and unscheduled.
    5. In no event shall Maya and the Account Holder be liable, in the absence of gross negligence and willful misconduct, for any indirect, special, incidental or consequential damages under this Terms and Conditions, including, without limitation, loss of profits, revenue, data or use, even if Maya and/or the Account Holder have been advised of the possibility of such damages.
    6. Maya’s liability for damages under this Agreement shall not exceed the amount of the total fees paid by the Account Holder to Maya during the last twelve (12) months from the occurrence of the event that caused the damage.
12. Consumer Protection

    If the complaint of the Account Holder stems from the e-wallet transaction and/or use of the Platform, then communication may be sent to Maya at support@maya.ph or you may contact (+632) 8845-77-88 (Toll Free: 1800-1084-57788) or *788 using your Smart mobile phone.

13. Termination

    Services as provided for in this Platform may cease in case:

    1. Maya’s license is revoked;
    2. Maya terminates its relationship with providers of the Virtual Assets; or
    3. Maya chooses to cease operation of the Platform

    In this case, Maya shall provide for a reasonable transition period where the Account Holder may choose to transfer his/her Virtual Asset/s to another platform provider or sell his/her Virtual Asset/s in consideration of money. In case the Account Holder fails to exit his/her Virtual Asset/s even after several notices sent, Maya shall be authorized to sell the Virtual Asset/s at the current price and credit the proceeds to the Account Holder’s e-wallet, after which, the rules on dormant account shall apply.

14. Notices

    The Account Holder may be sent notices through SMS, email address or registered mail at the option of Maya. Notice shall be considered received once the SMS or email is sent or upon receipt of the proof of service of the registered mail.

    Provisions found under the Maya Terms and Conditions, Privacy Terms and Data Privacy, applicable to this Platform shall form part of this Crypto Currency Terms and Conditions.

Definition of Terms:
Cryptocurrencies – Typically defined as decentralized digital money native to the internet. It is a type of virtual currency that uses cryptography.
Virtual Currency – A type of digital currency created by a community of online users. Typically stored in electronic wallets (e-wallets), and generally transacted online. Virtual currencies are an example of Virtual Assets.
Cryptography – A method of storing and transmitting data in unreadable form so that only the intended receivers can read and process.
Transaction – Refers to buy and/or sell cryptocurrency actions on the platform              Virtual Assets – referring to BSP Circular No. 1108, “Virtual asset refers to any type of digital unit that can be digitally traded, or transferred, and can be used for payment or investment purposes. It can be defined as a "property", "proceeds", "funds", "funds or other assets", and other "corresponding value". It is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VA users. VAs shall be broadly construed to include digital units of exchange that (i) have a centralized repository or administrator; (ii) are decentralized and have no centralized repository or administrator; or (iii) may be created or obtained by computing or manufacturing effort. VAs are not issued nor guaranteed by any jurisdiction and do not have Iegal tender status.
For purposes of these guidelines, digital units of exchange that is used for (i) the payment of goods and services soIely provided by its issuer or a limited set of merchants specified by its issuer (e.g., gift checks) ; or (ii) the payment of virtual goods and services within an online game (e.g., gaming tokens) shall not be considered as VAs. Also, virtual currencies as previously defined in Bangko Sentral Circular No. 944 (Guidelines for Virtual Currency Exchanges) shall now be referred to as VAs.”