GLX is committed to the highest standards of Corporate Governance and Social Responsibility.
Updated on August 4, 2018
Members of the GLX Network agree to the following Know Your Customer (KYC) / Anti-Money Laundering (AML) / Counter Terrorist Financing (CTF) Policy:
- The Member meets all of the eligibility criteria under applicable law and all of the GLX Terms of Service and all related policies herein.
- The Member must be legally be permitted to receive, hold and make use of GLX Tokens in their, and any other, relevant jurisdiction.
- The Member must supply GLX with any and all information, documentation, or copy documentation, that GLX may require in order to allow GLX to accept said participation.
- The Member agrees that they have not supplied GLX with any information which is inaccurate or misleading.
- The Member will provide GLX with any additional information which may be reasonably required in order that GLX can fulfil our legal, regulatory and contractual obligations, including but not limited to any anti-money laundering obligation.
- The Member will notify GLX promptly of any change to the information previously supplied.
- The Member is of a sufficient age (if an individual) to legally obtain GLX Tokens.
- The Member is not aware of any other legal reason to prevent said Member from obtaining GLX Tokens.
GLX has established the following protocol to confirm the representations and warranties herein in order to fight money laundering and the financing of illicit activities:
- GLX identifies and verifies the identification of all Members of the GLX Network;
- GLX has established technical mechanisms for monitoring the source of digital assets, contributed to GLX, as part of our Token Participation Membership Event; and
- GLX endeavors to monitor Members’ activities and all GLX Token transactions.
To this end, GLX begins by collecting from all Members:
- First and Last Name;
- Residence Physical Address;
- E-mail Address;
- Mobile Number (verified); and
GLX verifies all information as soon as possible in order to be in compliance with regulatory guidelines. We are committed to doing our part to deter illicit transactions related to money laundering and other criminal activities. It is GLX’s policy to encourage all Members to complete the KYC/AML/CTF verification procedure, whatever the level of participation, in our Private Pre-Sale, Pre-Sale, or Token Sale. All Members must comply with the applicable KYC/AML/CTF regulations and co-operate with our KYC/AML/CTF process. All Members give permission to GLX to undertake any measures required to satisfy our duty to undertake KYC/AML/CTF checks.
GLX reserves the right to conduct KYC/AML/CTF checks on all Members, if deemed necessary, or if Members meet our policy thresholds, or it becomes required by the applicable laws, or in the case that one of our partners requires it to undertake a service for the benefit of GLX and the Members within the GLX platform. Members agree to fully cooperate with any third party engaged by GLX to conduct our KYC/AML/CTF checks. Members agree to provide correct and accurate information to any third party engaged for these purposes.
GLX’s KYC/AML/CTF policies aim to check each Member against government watch lists, including but not limited to, the specifically designated nationals and blocked persons, and including contributions from high risk jurisdictions. At the request of GLX, Members shall immediately provide to GLX information and documents that GLX, in its sole discretion, deems necessary or appropriate to conduct KYC/AML/CTF checks. Such documents may include, but are not limited to, driver’s licenses, utility bills, photographs of associated individuals, government identification cards or sworn statements. GLX may, in its sole discretion, refuse to distribute GLX Tokens to Members until such requested information is provided. If a Member’s proposed allocation is flagged, through our internal controls, GLX may require additional proof of identification from said Member.
GLX reserves the right to not permit any allocations until additional and verifiable proof of identity to our satisfaction has been provided. GLX reserves the right to refuse or reject allocations of GLX Tokens to Members that, according to the information available to GLX, is suspected of receiving funds used for the GLX Token allocation or in using GLX Tokens or the GLX Platform, with the aim of money laundering, terrorism financing, or any other illegal activity. In addition. In addition. GLX has the right and obligation to cooperate with authorities to prevent money laundering and terrorism financing, including blocking of a Member’s digital wallet address, and disclosing any information about such Member to the authorities conducting an investigation.
Each Member hereby undertakes to provide valid proof concerning the legality of his/her/its proceeds contributed towards GLX Tokens upon GLX’s request or the request of banking institutions or government authorities. During KYC/AML/CTF checks, Member’s contributed funds shall be held by GLX until termination of the Token Sale Period. In no event shall GLX hold the funds without determination or acceptance for more than 90-days. In no event shall GLX hold your contribution more than 90-days. If the results of the KYC/AML/CTF check could not be accomplished within 90-days, or the check fails for any reason, your contribution will be returned to your wallet.
Each Member acknowledges and agrees that GLX shall not be held liable for any false or misleading information that the Member communicates to GLX or to its third-parties engaged. Members shall fully indemnify GLX and its directors in the event of any claim, loss, or damage (including reputational damage) in relation to a breach of applicable KYC/AML/CTF policies.
If you have any questions or concerns regarding the GLX.com Website, Platform, Network, GLX’s Terms of Service and all related policies, GLX, Inc., the GLX Foundation, the GLX Token, or any related entities, or for general inquiries, please contact us by CLICKING HERE. You can email us at email@example.com or write to us at GLX.com / GLX.org, 30 N Gould St, Ste R, Sheridan, WY 82801-6317.
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