Legal & Privacy

This Circle Digital Asset Account User Agreement (this “Agreement”) is a contract between you (“you”, “your”, or a “User”) and Circle Internet Financial Europe SAS, a société par actions simplifiée incorporated in France, registered with the Registre du commerce et des sociétés of Paris under number 953 990 934, whose registered office is at 4 rue de Marivaux, 75002, Paris, authorised as an electronic money institution by the Autorité de contrôle prudentiel et de résolution (“ACPR”) under Articles L.526-1 et seq. of the French Code monétaire et financier and entitled, following notification under Article 60(4) of Regulation (EU) 2023/1114 on markets in crypto-assets (“MiCA”), to provide custody and administration of crypto-assets on behalf of clients and transfer services for crypto-assets on behalf of clients, in relation to the e-money tokens it issues (“Circle,” “we,” or “us”) that applies to your use of a digital asset account (“Digital Asset Account”). Circle and its affiliates may offer certain services as described herein (the “Services”) on the Digital Asset Account platform through a partner integration (the “Platform”). The participating partner through which the Platform is made available to you (the “Partner”) facilitates your access to the Digital Asset Account and the Services. The Partner is not a party to this Agreement, and Circle remains your contractual counterparty in respect of the Services provided only by Circle under this Agreement. Your use of the Platform and any services provided to you independently by the Partner are governed separately by the terms and conditions entered into between you and the Partner (the “Partner Terms”). The USDC Terms, EURC Terms, which are described more fully below, apply to your USDC (“USDC”), EURC (“EURC”) and your Digital Asset Account. From and after the date set forth above, this Agreement shall govern your use of your Digital Asset Account.  The Partner acts in its own name and on its own behalf as the provider of the interface and of its own services to you. It is not a distributor of electronic money within the meaning of Articles L.525-8 et seq. of the French Code monétaire et financier, not an agent of a payment service provider within the meaning of Articles L.523-1 et seq. of that Code, not a crypto-asset service provider, and does not act on Circle’s behalf or as your intermediary, broker or agent. Circle provides the Services to you directly and is solely responsible to you for them.

Where you are a natural person acting for purposes which are outside your trade, business, craft or profession, you are a “Consumer” within the meaning of the preliminary article of the French Code de la consommation, and applicable European Union consumer law, and the provisions of this Agreement expressed to apply to Consumers apply to you. Nothing in this Agreement excludes, limits or derogates from any right or remedy conferred on you by mandatory provisions of European Union law, of French law or, if you are a Consumer, of the law of the Member State in which you are habitually resident.

For the avoidance of doubt, your access to the Services is contingent on your maintenance of an active Digital Asset Account and your continued eligibility through the applicable Partner program pursuant to which your Digital Asset Account was made available.

Before you are bound by this Agreement, we will provide you, in good time and on a durable medium, with the pre-contractual information and adequate explanations required by applicable law in relation to the Digital Asset Account and the Services. By registering for a Digital Asset Account or using any of the Services, you agree that you have read, understood and accept all of the terms and conditions contained in this Agreement as well as the Circle Privacy Policy, Cookie Policy, E-Sign Consent Policy and you acknowledge and agree that you will be bound by these agreements and policies.

For purposes of this Agreement, “Digital Currency” means USDC or EURC issued by Circle, each of which is an e-money token within the meaning of MiCA. USDC and EURC are referred to collectively in this Agreement as the “Supported Digital Currencies”.. For the avoidance of doubt, where used herein, the term “funds” includes Digital Currency.

Not all Supported Digital Currencies are available for use in, or are compatible with all of our Services.

You must carefully consider the terms related to Supported Digital Currencies herein (including, without limitation, Sections 3 and 12) before attempting to deposit, hold, transact in, or send a Digital Currency using the Platform.

PLEASE BE AWARE THAT SECTION 25 SETS OUT HOW COMPLAINTS AND DISPUTES BETWEEN YOU AND CIRCLE ARE HANDLED. IT PROVIDES FOR A FREE INTERNAL COMPLAINTS-HANDLING PROCEDURE AND, IF YOU ARE A CONSUMER, FOR FREE RECOURSE TO A CONSUMER MEDIATOR UNDER ARTICLES L.611-1 ET SEQ. OF THE FRENCH CODE DE LA CONSOMMATION AND DIRECTIVE 2013/11/EU. NOTHING IN SECTION 25 DEPRIVES YOU OF YOUR RIGHT TO BRING PROCEEDINGS BEFORE THE COMPETENT COURTS, NOR OF YOUR RIGHT TO PARTICIPATE IN A GROUP ACTION (ACTION DE GROUPE) OR OTHER REPRESENTATIVE ACTION. PLEASE READ SECTION 25 CAREFULLY.

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Section 26 of this Agreement governs how this Agreement may be changed over time; the date of the last update is set forth at the top of this Agreement.

1. Eligibility; Limitations; Registration Process; Identity Verification

Eligibility; Limitations

Digital Asset Accounts and the Services are currently available only to eligible Users invited or otherwise enabled by a participating Partner , and only in those jurisdictions where the applicable Partner is enabled by Circle   to make Digital Asset Accounts available through the Platform (the “Supported Jurisdictions”). The Supported Jurisdictions can depend on, and may vary by, the applicable Partner and/or additional considerations, and may change from time to time.

Use of certain Services may have further eligibility requirements that will need to be verified prior to you using such Services or from time to time in order to continue your use of the Services and may be subject to additional terms and conditions.

By accessing or using your Digital Asset Account or the Services, you further represent and warrant that:

1. If you are an individual at least 18 years old and are not a Restricted Person, nor are you a resident of a Restricted Territory (each as defined in Section 33 below).
2. If you are opening a Digital Asset Account on behalf of an entity, you further represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; (ii) you are duly authorized by such legal entity to act on its behalf; and (iii) such organization (and any affiliate entity) must not have been previously suspended or removed from the Services or any other service or product offered by Circle or its affiliate entities.you will not be using your Digital Asset Account or the Services for any illegal activity, including, but not limited to, illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, terrorism financing, other violent activities or any prohibited market practices, including, but not limited to, those listed under Section 20.

You also understand that there are additional representations and warranties made by you elsewhere in (or by reference in) this Agreement and that any misrepresentation by you is a violation of this Agreement.

Notwithstanding the foregoing, Circle may determine not to make the Services, in whole or in part, available in every market, either in its sole discretion or due to legal or regulatory requirements, depending on your location. We may also, to the extent permitted by applicable law, without liability to you, the Partner or any third party, refuse to let you register for a Digital Asset Account in Circle’s sole discretion.

Registration Process; Identity Verification

When registering your Digital Asset Account through the applicable Partner, you must provide current, complete, and accurate information for all required elements on the registration page, including your full legal name and, where you are a legal entity, your legal entity name, jurisdiction of organization and such information regarding your directors, beneficial owners, authorized representatives or other associated persons as Circle may require. You also agree to provide to the applicable Partner when registering for a Digital Asset Account and on an ongoing basis, any additional information we or the Partner request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime. Circle may require that you provide such additional information, records, or verification materials to the applicable Partner, and you authorize the applicable Partner to collect, receive, and share that information with Circle for identity verification, compliance, fraud prevention, risk management, and other lawful purposes related to the Services.  You permit us to keep a record of such information and authorize us to make the inquiries, whether directly or through third parties, that we consider necessary or desirable to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. When we carry out these inquiries, you understand, acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.

In certain circumstances, we may require you to submit additional information about yourself or your business, provide records, and complete other verification steps (such process, "Enhanced Due Diligence"). You may be required to submit such information, records, or materials to the applicable Partner for provision to Circle.

You represent and warrant that all information provided to the Partner and pursuant to this Agreement is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible.

From time to time, we or the applicable Partner may be required to request further information or review or update existing information regarding your Digital Asset Account or your transactions to comply with applicable laws and regulation, and in some cases, applicable payment scheme rules (including the SEPA scheme rules). Failure to provide such information, if requested by the Partner, in a timely fashion may result in the suspension of your ability to use the Services (until you provide such information) or the closure of your Digital Asset Account.  

We reserve the right to maintain your account registration information after you terminate your Digital Asset Account for business and regulatory compliance purposes, subject to applicable laws and regulation.

2. Digital Asset Accounts

Circle may make available Digital Asset Accounts to eligible customers through participating Partners.  A Digital Asset Account is a Circle-managed account that may permit you to access some or all of the Services via an API subject to Circle’s controls and the capabilities made available through the applicable Partner. Digital Asset Accounts may be made available to you through a Partner interface, API-enabled workflow, or other Circle-approved method.  This Agreement governs your Digital Asset Account whichever Services Circle enables for it. Where Circle enables the Managed Payments Services, the sub-account opened in your name within the account structure Circle operates for those Services is a Digital Asset Account for the purposes of this Agreement.

When you set up a Digital Asset Account, you will be subject to access controls, permissions, and other product capabilities made available to you by the applicable Partner.

Circle may place limits, holds, review requirements, and feature restrictions on Digital Asset Accounts based on applicable law, risk, the functionality enabled for the applicable Partner program, and the type of Digital Asset Account you hold.

If you set up a Digital Asset Account as an institution, you will be required to designate an administrator for your account. Circle may, in its discretion, grant access to your Digital Asset Account and some or all of the Services to other persons at your firm (e.g. your employees) (such persons, “Additional Users”). Such access is subject to Circle’s review and approval, and such Additional Users’ agreement to all of the terms hereof. To the extent that you choose to have Additional Users have access to the Digital Asset Account, you will have to designate those Additional Users and manage their access to your account. By requesting such access, you and all Additional Users automatically agree to this Agreement. 

If Circle determines that you or any of your Additional Users have violated this Agreement, including, but not limited to, transacting with Blocked Addresses (as defined in Section 19) or engaging in Restricted Activities or Prohibited Transactions then Circle may be forced to terminate your Digital Asset Account in accordance with Section 10 of this Agreement.

3. Services

Depending on the applicable Partner program and your jurisdiction, Circle may offer you some or all of the following Services in connection with your Digital Asset Account. 

3.1 USDC-related Services

Circle may provide USDC-related services, which are described more fully in Section 12 and in the USDC Terms. The USDC Terms are incorporated herein by reference.

3.2 EURC-related Services

Circle may provide EURC-related services, which are described more fully in Section 12 and in the EURC Terms. The EURC Terms are incorporated herein by reference.

3.3 Digital Asset Wallet

Circle provides access to Digital Currency wallet(s) (“Digital Asset Wallet”). Your Digital Asset Wallet allows you to mint, redeem, deposit, transfer, and manage your balances of Supported Digital Currencies that are held by Circle for your benefit. Circle holds the Supported Digital Currencies in your Digital Asset Wallet in an omnibus structure and attributes the applicable amounts of such Supported Digital Currencies to your Digital Asset Account on Circle’s books and records. 

You own the Supported Digital Currencies held in your Digital Asset Wallet. For so long as you custody your Digital Currencies in your Digital Asset Wallet, Circle maintains control over the wallets, private keys, blockchain addresses, and other infrastructure used to hold or process such Supported Digital Currencies. While you may generally withdraw or transfer Supported Digital Currency attributed to your Digital Asset Account using the functionality Circle makes available through the applicable Partner, your ability to do so is subject to outages and downtime of the Circle website, the applicable Partner interface, and Circle’s policies.

When using the Platform, you will have access, directly or through the applicable Partner interface, to information regarding your balances, type and amount of Supported Digital Currencies attributed to your Digital Asset Account, individual transactions, and fees, as applicable. Circle will also provide you, at least once every three months and at your request, with a statement of position in electronic format containing the information required by Article 75(5) of MiCA.

Circle may hold Supported Digital Currencies credited to your Digital Asset Wallet with affiliated subcustodians. In accordance with Articles 70 and 75 of MiCA, Supported Digital Currencies held for you, are held in custody and administered on your behalf, are recorded in a register of positions opened in your name, are segregated from Circle’s own holdings, and are held in accounts and at distributed ledger addresses separate from those used for Circle’s own crypto-assets. Circle maintains a register of positions and a custody policy in accordance with Article 75(1) to (3) of MiCA, a copy of which is made available to you on request and free of charge.  

Supported Digital Currencies in your Digital Asset Wallet are custodial assets. Under Article 75(7), the Supported Digital Currencies in your Digital Asset Wallet are not general assets of Circle or any subcustodian and are not available to satisfy claims of creditors of Circle or any subcustodian or any Affiliates of Circle or any subcustodian, including in the event of Circle’s insolvency. Circle will comply (and will require any subcustodian to comply) at all times with the applicable safeguarding and segregation requirements under MiCA and applicable law. 

Circle’s use of custody arrangements is intended to segregate and protect your assets from the claims of Circle’s creditors. Circle will only use subcustodians that hold Supported Digital Currencies in a safekeeping capacity and not a debtor-creditor capacity, and that separately account for and segregate Supported Digital Currencies from their own assets. Circle shall not permit any subcustodian to grant any person or entity a lien, security interest, encumbrance, mortgage, pledge, or adverse claim or interest of any kind in the digital assets in your Digital Asset Wallet. Circle will exercise due care to select and retain subcustodians, and monitor them for material risks on a continuing basis. Circle will promptly notify you of any material change in such risks. Circle will be liable to you for subcustodian activities with respect to Supported Digital Currencies held at a subcustodian to the extent it would have been liable under this Agreement if Circle had performed such activities itself. In accordance with Article 75(8) of MiCA, Circle is liable to you for the loss of any Supported Digital Currency, or of the means of access to it, resulting from an incident attributable to Circle, up to the market value of the Supported Digital Currency lost at the time the loss occurred.

3.4 Digital Currency Transfers

When you or a third party sends Digital Currency to a Digital Asset Wallet from an external wallet not hosted on Circle (“Inbound Transfers”), the person initiating the transfer is solely responsible for executing the transaction properly, which may include, among other things, payment of sufficient network or miners’ fees in order for the transaction to be successful. Failure to pay such fees may cause an Inbound Transfer to remain in a pending state outside of Circle’s control and we are not responsible for delays or losses incurred as a result of an error in the initiation of the transaction by you or a third party, except to the extent that Circle is liable under applicable law. By initiating an Inbound Transfer, you attest that you are transacting in a Supported Digital Currency on a blockchain network supported by Circle for that Supported Digital Currency and the relevant Digital Asset Wallet.. Circle has no obligation to support a Supported Digital Currency sent using an unsupported or incompatible blockchain network, and assets transmitted using an unsupported or incompatible blockchain network may be irretrievable, subject to Circle’s obligations under applicable law.

You agree, represent, and warrant that all Inbound Transfers are not the direct or indirect proceeds of any criminal or fraudulent activity. We reserve the right to investigate the source of any funds in your account and take such action in relation to those funds as is required or permitted by applicable law and this Agreement.. Following our review of any funds in question and the circumstances by which you received them, we may determine that you are not the owner of such funds. If such a determination is made, we may take such action in relation to those funds as is required or permitted by applicable law, which may include, but is not limited to, returning them to the destination of their origin.

When you send Supported Digital Currency from your Digital Asset Wallet to an external wallet (“Outbound Transfers” and together with Inbound Transfers, “Digital Currency Transfers”), such transfers are executed at your instruction by Circle. You should verify all transaction information prior to submitting instructions to us. Where an Outbound Transfer is executed in accordance with the blockchain destination address provided by you, it will be deemed correctly executed as regards the beneficiary designated by you. If the blockchain destination address provided by you is incorrect, Circle will not be liable for the resulting non-execution or defective execution of the transfer, but will make reasonable efforts to recover the funds and, where recovery is unsuccessful, will make available to you, upon request, the information available to Circle that may assist you in seeking recovery, in accordance with Article L.133-21 of the French Code monétaire et financier. We do not guarantee the identity or value received by a recipient of an Outbound Transfer.  Because Circle must send information on the originator and the beneficiary with each transfer of crypto-assets under Regulation (EU) 2023/1113, you must provide the beneficiary information requested, including the beneficiary’s name, before an Outbound Transfer can be submitted, and Outbound Transfers may only be made to a destination address registered and approved in advance. Circle may restrict the categories of destination address that may be registered and will not execute an Outbound Transfer for which the required information has not been provided.

Digital Currency Transfers cannot be reversed once they have been broadcast to the relevant blockchain, although they may be in a pending state, and designated accordingly, while the transaction is processed by network operators. The technical irreversibility of a Digital Currency Transfer does not affect any right you may have under applicable law in respect of an unauthorized, non-executed or incorrectly executed payment transaction. Circle does not control any blockchain or Digital Currency network and makes no guarantees that a Digital Currency Transfer will be confirmed by a Digital Currency network. Circle may refuse to process, suspend, reject, return or cancel any pending Outbound Transfers as required by law or regulation, including applicable requirements relating to information accompanying transfers of funds or crypto-assets, or any court or other authority to which Circle is subject in any jurisdiction. Additionally, Circle may require you to wait some amount of time after completion of a Digital Currency Transfer before permitting you to use further Services and/or before permitting you to engage in transactions beyond certain volume limits.

3.5 Deposits, Withdrawals, and Linked Accounts

To mint or redeem USDC or EURC (each, a “Redeemable Token”), you must link and verify one or more bank accounts held in your name (each, a "Linked Account") to your Digital Asset Account. The name on each Linked Account, and on any transfer you send from your Linked Account to fund a mint transaction, must match the name verified on your Digital Asset Account. You agree to notify the Partner of any change to your Linked Account information.

To fund a mint transaction, you may send funds in a supported currency from a Linked Account held in your name to the deposit instructions provided by the Partner using the rails the Partner makes available for your jurisdiction (which may include SEPA, SEPA Instant, or other local payment rails). Upon settlement of such funds, Circle will issue the Redeemable Token in accordance with the USDC Terms or EURC Terms, as applicable. We may also permit you to redeem your Redeemable Token balance into a supported currency in accordance with the USDC Terms or EURC Terms to be deposited into your Linked Account, . When you request a redemption, you authorize us to remove and burn the applicable Redeemable Token from your Digital Asset Account. Redemptions may not be cancelled once initiated. All redemptions are final and non-reversible once made. 

Circle may use one or more third-party payment processors, PSPs or bank partners (each a “Payment Partner”) to process any payments in connection with a mint or redemption transaction. By submitting a redemption request, you authorize Circle and its Payment Partner(s) to initiate transfers, and any related entries, necessary to pay your redemption proceeds to your Linked Account. You may revoke this authorization as to future transfers at any time by removing the Linked Account or contacting the applicable Partner, except that you may not revoke an instruction you have already given. You acknowledge that there may be a significant delay (i) between the time you initiate a transfer and when the corresponding Redeemable Token is credited to your Digital Asset Account, and (ii) between the time you initiate a redemption request and when the corresponding currency is deposited into your Linked Account, including delays due to third-party financial institutions or the Payment Partner(s). Circle is not responsible for any delay in, or failure of, a deposit or payout caused solely by your bank, a Payment Partner, or the applicable payment network.

3.6 FX Operations

3.6.1 Where Circle enables this Service for your Digital Asset Account, Circle offers, as part of its ancillary services under its electronic money institution licence, fiat foreign exchange services exclusively involving EUR and USD (“FX Operations”). Circle provides each FX Operation to you directly: it acts as principal in respect of the redemption and issuance legs described below and executes the foreign exchange leg in your name and on your behalf. No Partner is a party to, or an intermediary in, an FX Operation.

3.6.2 An FX Operation does not involve the direct conversion of fiat currency held by you. It is a single, indivisible operation comprising three consecutive steps, executed immediately and without possibility of interruption: (i) the redemption by Circle, at par value, of the Redeemable Tokens (EURC or USDC) attributed to your Digital Asset Account into the corresponding fiat currency; (ii) a foreign exchange transaction executed by Circle in your name and on your behalf, whereby the redeemed fiat currency is exchanged for its countervalue in the other currency; and (iii) the immediate issuance by Circle of Redeemable Tokens (USDC or EURC respectively) against the fiat currency resulting from that transaction.

3.6.3 Before you confirm an FX Operation, Circle makes available to you, through the interface by which you access your Digital Asset Account, a firm quotation generated by Circle alone and displayed to you unaltered (the “FX Quote”). It states the exchange rate applied by Circle, the euro foreign exchange reference rate published by the European Central Bank on the relevant date, the total mark-up applied by Circle over that reference rate expressed both as a percentage and as an amount, any other applicable fee, the amounts to be debited from and credited to your Digital Asset Account, and the period during which the FX Quote remains valid. Circle keeps a record of each FX Operation, which you may access through your Digital Asset Account, and will provide a digital receipt on request.

3.6.4 You initiate an FX Operation through the conversion functionality in the interface by which you access your Digital Asset Account. Your confirmation of the FX Quote is a single instruction addressed directly to, and received directly by, Circle, authorising Circle to carry out the full sequence described in Section 3.6.2, and is the only instruction required. Where you access your Digital Asset Account through a Partner, the Partner’s interface serves solely as a technical means of communication made available under Circle’s specifications and control: the Partner does not quote, price, mark up, aggregate, route, hold, screen or exercise any discretion over your instruction, does not receive or transmit any order on your behalf, and has no authority to act as your intermediary, broker or agent. If the FX Quote expires before you confirm it, the FX Operation is not executed and a new FX Quote must be requested.

3.6.5 For the avoidance of doubt: (a) the sequence described in Section 3.6.2 is not an exchange of crypto-assets for other crypto-assets within the meaning of Article 3(1)(20) of MiCA, each operation being carried out exclusively as the redemption of an e-money token, a fiat foreign exchange transaction under Circle’s electronic money institution licence and the issuance of a new e-money token; (b) the foreign exchange leg is a spot transaction settled immediately for payment purposes and is not a financial instrument within the meaning of Article 4(1)(15) of, and Annex I Section C to, Directive 2014/65/EU; (c) no reception or transmission of orders on behalf of third parties is performed by any person in connection with an FX Operation; and (d) FX Operations are not leveraged, margined or speculative products, are not offered for investment purposes, and Circle provides no investment service, advice or recommendation in connection with them.

3.6.6 If you are a Consumer, you acknowledge that the price of an FX Operation depends on fluctuations in the foreign exchange market outside Circle’s control and that, for that reason, no right of withdrawal applies to an individual FX Operation once executed. Section 37 continues to apply to this Agreement as a framework contract.

3.7 Payment Processing Services

Circle may offer various payment processing services to Users. These services may include credit and debit card processing services to Users. Additional terms and conditions apply to such services.

3.8 Other Service-Specific Terms

3.9 Managed Payments

Where Circle enables the Managed Payments Services for your Digital Asset Account, fiat funds received by Circle for you are used to issue Supported Digital Currencies credited to your Digital Asset Account, which Circle holds, transfers and redeems on your instruction. You give those instructions through the Partner, which transmits them to Circle; Circle does not make an interface available to you for these Services.

Where Circle executes a payout in fiat currency to a beneficiary you designate, Circle submits the payment as originating financial institution into the Circle Payments Network, and a participating financial institution converts the amount where necessary and pays the beneficiary through local payment rails. Save for its own fault, Circle is not responsible for that institution, for those rails or for the time taken to credit the beneficiary, and no settlement time is guaranteed. You must provide the beneficiary and transfer-of-funds information requested before a payout can be submitted.

Additional terms and conditions apply to certain service features and functionalities (“Service-Specific Terms”).  Each Service made available to you corresponds to a Service Module Circle has enabled for the applicable Partner. This Agreement governs your Digital Asset Account and the terms common to all Service Modules; where a Service Module has its own end user terms, those terms apply in addition and prevail only in respect of that Service Module and only to the extent of any conflict.

4. Custody

Circle holds all Supported Digital Currency in your Digital Asset Wallet for your benefit in an omnibus structure controlled by Circle and attributes the applicable amounts of such Supported Digital Currency to your Digital Asset Account on Circle’s books and records and in a register of positions opened in your name in accordance with Article 75 of MiCA. 

Circle provides custody and administration services in respect of the Supported Digital Currencies in accordance with applicable law and Article 75 of MiCA. The terms applicable to such custody and administration services are set out in Section 3.3 above. Any reference to custody services in this Agreement or elsewhere on this site refers only to the custody and administration of crypto-assets on your behalf within the meaning of Article 3(1)(17) and Article 75 of MiCA, provided under Article 60(4) of MiCA. Circle does not provide investment services within the meaning of Article L.321-1 of the French Code monétaire et financier or of Directive 2014/65/EU (MiFID II), does not act as a depositary (dépositaire) within the meaning of Articles L.214-10-1 or L.214-24-3 of that Code, and is not a fiduciary within the meaning of Articles 2011 et seq. of the French Civil Code.

5. Asset Ownership

The title to all of your Supported Digital Currency will remain with you at all times.  Your ownership of Supported Digital Currency held in your Digital Asset Wallet is not affected by Circle holding such Supported Digital Currency in custody on your behalf. Circle is liable for any loss of Supported Digital Currency, or of the means of access to such Supported Digital Currency, resulting from an incident attributable to Circle, up to the market value of the Supported Digital Currency lost at the time the loss occurred, in accordance with Article 75(8) of MiCA. Circle has no liability for any Digital Currency fluctuations in value. Except as may be otherwise agreed in writing between you and Circle, none of the Supported Digital Currencies in your Digital Asset Wallet are the property of, or shall or may be loaned to, Circle. Except as required by a facially valid court order, applicable law or a competent authority, or except as provided for herein, Circle will not sell, transfer, loan, or otherwise alienate Supported Digital Currency in your Digital Asset Wallet unless specifically instructed by you in accordance with the terms of this Agreement.

In accordance with Article 70(5) of MiCA, the Supported Digital Currencies held by Circle on your behalf are segregated from Circle’s own assets, do not form part of Circle’s estate and are not available for distribution among Circle’s creditors in the event of safeguard, judicial reorganisation or liquidation proceedings under Book VI of the French Code de commerce or of any equivalent procedure. Circle maintains arrangements designed to safeguard your ownership rights and to enable the prompt return of your assets in such circumstances. 

6. No Investment Advice

Circle does not provide investment, tax, or legal advice, nor does Circle broker trades on your behalf. You should consult your legal or tax professional regarding your specific situation. Circle may provide educational information about Supported Digital Currency, as well as other Digital Currency not supported by Circle. Information may include, but is not limited to, blog posts, articles, links to third-party content, news feeds, tutorials, and videos. The information provided on this website or any third-party sites does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the website's content as such. Any information provided by Circle in connection with the Services will be fair, clear and not misleading in accordance with applicable law.

7. Privacy

We are committed to protecting personal data relating to you or, where you are an entity, individuals associated with you and helping you understand exactly how such personal data is being used. Circle processes your personal data in accordance with Regulation (EU) 2016/679 (the “GDPR”) and with French loi n° 78-17 of 6 January 1978 relative à l’informatique, aux fichiers et aux libertés. Your use of your Digital Asset Account and the Services is subject to the Circle Privacy Policy, Cookie Policy, and any privacy notices or disclosures provided by Circle or the applicable Partner in connection with your Digital Asset Account or the Services. 

Circle may collect, use, disclose, and otherwise process information that you provide to Circle directly or through the applicable Partner, information the applicable Partner provides to Circle, information collected automatically from your device or interactions with the Platform or Services, and information generated by or associated with your Digital Asset Account. Where such information constitutes personal data, it may include personal data relating to you or, where you are an entity, your representatives, Additional Users, beneficial owners or other individuals associated with you. This may include registration, identity verification, wallet, balance, transaction and payment-related information, depending on the Services you use.

You acknowledge that the applicable Partner may collect, use, disclose, or otherwise process personal data relating to you or individuals associated with you in connection with your Digital Asset Account, the Platform, Partner interface, customer support, and related Partner services. The Partner’s processing of your information may be subject to the Partner’s own terms, privacy notices, and practices. 

8. Communications

By entering into this Agreement, you agree to receive electronic communications and notifications in accordance with our E-Sign Consent Policy. Where applicable law requires information to be provided to you on a durable medium, Circle will provide such information in accordance with those requirements.

If you are a Consumer, this Agreement is provided to you and communicated in French. We will communicate with you in French for matters related to your use of the Services, unless another language is agreed between you and Circle in accordance with applicable law. Where we have provided you with an English translation of this Agreement or any information related to your Digital Asset Account, you acknowledge and agree that such translation is provided for your convenience only and that the French language version of the Agreement will govern your use of the Services.  Where you are habitually resident in another Member State of the European Economic Area, this Agreement and the information relating to your Digital Asset Account will be provided in the official language of that Member State where applicable law so requires, or in another language agreed between you and Circle, and the version in that language will govern.

If you are not a Consumer, this Agreement and communications relating to the Services may be provided in French or English, as agreed between you and Circle. Where this Agreement is provided in both French and English, [the French / English] version will prevail in the event of any inconsistency.

9. Security of User Information

Authentication. Circle applies strong customer authentication to your access to your Digital Asset Account and to the instructions you give, in accordance with Article 97 of Directive (EU) 2015/2366, Articles L.133-44 and L.133-45 of the French Code monétaire et financier and Commission Delegated Regulation (EU) 2018/389. Circle carries out and verifies that authentication itself, by means of a component that Circle operates and controls, which may be presented to you as a page hosted by Circle or within the Partner’s interface. The credential you register is registered with Circle and cannot be used on the Partner’s systems or those of any third party; the Partner does not authenticate you for the purposes of the Services, and your credentials for the Partner’s own application are a separate matter between you and the Partner.

You will be asked to set up your credential with Circle before you can link a bank account, register a destination address, change your account settings or limits, or instruct a transfer or redemption. Where an action moves value, the authentication is bound to the amount and the destination, both displayed before you approve; if either changes, the approval is invalidated and a new authentication is required. Authentication is personal: where your Digital Asset Account has Additional Users, each enrols individually and a credential may not be shared. If you lose the device holding your credential, or believe it compromised, inform Circle or the Partner without delay so that it can be suspended and, once your identity is re-verified, replaced.

You are responsible for maintaining the confidentiality and security of all account names, User IDs, passwords, personal identification numbers (PINs) and other access codes that you use to access the Services. You are responsible for keeping your email address and all other account holder and User information up to date in your Digital Asset Account profile with the applicable Partner, and for maintaining the confidentiality of your User information. You agree to inform your Partner as applicable immediately if you become aware of any unauthorized use of your Digital Asset Account, the Services, or any other breach of security regarding the Services, your Digital Asset Account or the Platform. We strongly advise you to enable all security features that are available to you (such as, by way of example two-factor authentication); this offers you enhanced protection from possible malicious attacks. Circle will not be liable for loss or damage arising from your failure to protect your account information where that failure is attributable to your fraud, intent or gross negligence; in all other cases liability is allocated in accordance with Articles L.133-16 to L.133-20 of the French Code monétaire et financier, and the burden of proving such fraud, intent or gross negligence lies with Circle in accordance with Article L.133-23 of that Code.  Nothing in this Section requires you to keep secure any credential that Circle does not require you to hold, and your liability for an unauthorised payment transaction is in all cases limited as set out in Section 24.

Except to the extent that any damage or interruption results from an act or omission attributable to Circle or Circle is otherwise liable under applicable law, we shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We recommend the regular use of a reliable virus and malware screening and prevention software. Communications related to your Digital Asset Account will come from the applicable Partner. However, Circle may also communicate with you directly where required or permitted under this Agreement or applicable law.

10. Account Suspension & Closure

We may, suspend your Digital Asset Account, consolidate your Digital Asset Account if you have more than one, or terminate your Digital Asset Account or suspend your use of one or more of the Services in accordance with the terms of this Agreement, where we have objectively justified grounds to do so and in accordance with the terms of this Agreement and applicable law. . Such grounds include: (i) an enforceable order of a court or competent authority; (ii) a legal or regulatory obligation, including applicable anti-money laundering and counter-terrorist financing obligations and asset-freezing or restrictive measures, including those provided for by Articles L.561-1 et seq. and L.562-1 et seq. of the French Code monétaire et financier; (iii) a reasonable suspicion of fraud, money laundering, terrorist financing or other financial crime; (iv) objectively justified reasons relating to the security of your Digital Asset Account or the Services, including a suspected unauthorised or fraudulent use of your Digital Asset Account; (v) your failure to provide information or documentation required for identity verification, customer due diligence or compliance with applicable law; (vi) a serious or repeated breach by you or your Additional User of this Agreement; (vii) your failure to respond to reasonable requests from Circle for information necessary to provide the Services or comply with applicable law; or (viii) account inactivity, where Circle is entitled to suspend or terminate an inactive Digital Asset Account in accordance with this Agreement and applicable law.

Any suspension or restriction shall be proportionate to the circumstances and shall be maintained only for so long as the grounds for it subsist. Except where Circle is prohibited by applicable law from doing so, including where disclosure is prohibited under applicable anti-money laundering or counter-terrorist financing law, or where informing you would compromise objectively justified security reasons, Circle will inform you of the suspension or restriction and, where permitted, the reasons for it, if possible before it takes effect and otherwise promptly thereafter, together with any means of redress available to you.

Circle may also temporarily suspend access to your Digital Asset Account and/or the Services, as applicable, in the event that a technical problem causes system outage or Digital Asset Account errors until the problem is resolved. For the avoidance of doubt, in the event your Digital Asset Account is suspended or closed, you will no longer be able to access any of the Services. Suspension or closure of your Digital Asset Account does not affect any right you may have under applicable law or the applicable USDC Terms or EURC Terms to obtain the return or redemption of Supported Digital Currencies held for you.

You may terminate this Agreement at any time by closing your Digital Asset Account using the electronic account closure process made available through the Platform or by any other means made available to you in accordance with applicable law. If you are no longer eligible to participate in the applicable Partner program pursuant to which your Digital Asset Account was made available to you, or if your Access to the Platform or the applicable Partner program is terminated by the applicable Partner, Circle will work with Partner, using commercially reasonable efforts, to assist in the orderly wind-down of your Digital Asset Account and to provide you with access to withdraw any outstanding funds in your Digital Asset Account, in each case subject to applicable law and this Agreement.

We encourage you to transfer any Supported Digital Currencies out of your Digital Asset Account and/or redeem your USDC for USD, sell your EURC for euro, prior to issuing a request to the applicable Partner to terminate your Digital Asset Account. Before closing your Digital Asset Account, you may be required to transfer or redeem any remaining Supported Digital Currency balance in accordance with the applicable USDC Terms or EURC Terms. We reserve the right to restrict or refuse to permit redemptions or transfers from your Digital Asset Account only to the extent permitted or required by applicable law, including where a redemption or transfer would be prohibited by applicable restrictive measures or by an enforceable order of a court or competent authority, or where the relevant Supported Digital Currency is reasonably suspected to have been obtained fraudulently.

Upon closure or suspension of your Digital Asset Account, you authorize Circle to cancel or suspend pending transactions in accordance with this Agreement and applicable law. Closure or suspension of your Digital Asset Account does not result in the forfeiture of any funds or Supported Digital Currencies held for you or of any claim you may have against Circle in respect of them.

In the event that you or Circle terminates this Agreement or your access to the Services, or cancels your Digital Asset Account, you remain liable for all activity conducted on or with your Digital Asset Account while it was active and for all amounts due hereunder, subject to applicable law and the provisions of this Agreement relating to unauthorised payment transactions.

11. Fees

If you access the Services through a Digital Asset Account, Circle does not charge fees directly to you unless Circle expressly discloses otherwise in connection with a specific Service. Any fees payable to Circle in connection with Digital Asset Accounts are payable by the applicable Partner pursuant to the Partner’s agreement with Circle. Your Partner may, in its sole discretion, pass through such fees to you, bundle them into other charges, or apply different pricing for your use of the Digital Asset Account or related services. Any fees, charges, or pricing applicable to you as a Digital Asset Account holder will be determined and disclosed by the applicable Partner under the Partner’s user interface, pricing materials, or terms with you, and not by Circle. Any fees charged to you by Circle will be disclosed to you in accordance with applicable law. Where a fee relates to a specific payment transaction, Circle will disclose the amount of that fee to you before you initiate the transaction. Circle will not charge you any fee for the redemption of USDC or EURC where such fee is prohibited under applicable law or the applicable USDC Terms or EURC Terms.  Any fee charged to you by the Partner is a fee of the Partner, not of Circle. The Partner must disclose its amount before you are bound and again before each transaction to which it applies, and make available a consolidated statement of those fees.

You are responsible for, and agree to pay, all fees that may be charged by your financial institution in connection with sending funds to Circle or receiving funds from Circle. Circle is not responsible for any charges that you incur based on delayed processing of deposits or withdrawals that might result from overdraft fees or otherwise.

Notwithstanding the first paragraph of this Section, the mark-up applied by Circle to an FX Operation is charged by Circle directly to you and is disclosed in the FX Quote before you confirm, in accordance with Section 3.6.3. No Partner may add any fee, mark-up or commission to an FX Operation.

12. USDC-Specific Terms and EURC-Specific Terms

To the extent that you utilize your Digital Asset Account for any transaction or service involving USDC, the USDC Terms shall apply to all such transactions and such agreement. To the extent that you utilize your Digital Asset Account for any transaction or service involving EURC, the EURC Terms shall apply to all such transactions and such agreement. Notwithstanding anything to the contrary set forth in this Agreement or otherwise, in the event of a conflict between any term set forth herein and any term set forth in the USDC Terms or EURC Terms, (i) to the extent the conflict relates to any USDC, or EURC transaction, the terms of the USDC Terms or EURC Terms, (as applicable) shall control, and (ii) to the extent the conflict relates to any other matter, the terms of this Agreement shall control.

13. Forks, Advanced Protocols, Other Digital Currencies & Supplemental Protocols Not Supported

Forks

As a result of the decentralized and open-source nature of Digital Currencies it is possible that sudden, unexpected or controversial changes (“forks”) can be made to any Digital Currency that can change the usability, functions, value or even name of a given Digital Currency. It is also possible that such forks result in multiple versions of a Digital Currency, each with its own value, and therefore may reduce the value of the original “unforked” version of a Digital Currency.

Circle is under no obligation to support a fork of a Supported Digital Currency that you hold in your Digital Asset Account, whether or not such forked Supported Digital Currency holds value at or following such fork. If Circle elects, in its sole discretion, to support a fork of a Supported Digital Currency it will make a public announcement through its website and/or by notifying customers via email, and shall bear no liability for any real or potential losses that may result based on the decision to support such fork or the timing of implementation of support. If Circle, in its sole discretion, does not elect to support a fork of a given Supported Digital Currency, Circle assumes no responsibility or liability whatsoever for any losses or other issues that might arise from an unsupported fork of a Supported Digital Currency.

Unless otherwise specified in this Agreement, Digital Asset Accounts do not support any other digital currencies, tokens, coins or forked protocols (collectively, “Other Digital Currencies”) whether or not they are created as a result of a fork of a Supported Digital Currency, are independently created or otherwise, and regardless of whether or not such Other Digital Currencies hold any value. Holding Supported Digital Currency in your Digital Asset Account does not entitle you to any additional tokens or value associated with Other Digital Currencies that may result from your ownership of such Supported Digital Currency, regardless of whether you would be entitled to such additional tokens or value had you held such Supported Digital Currency outside of Circle. Note that in the event of a fork of a Supported Digital Currency, Circle may be forced to suspend all activities relating to such Supported Digital Currency (including both buying and selling) for an extended period of time until Circle has determined in its sole discretion that such functionality can be restored (“Downtime”). This Downtime will likely occur immediately upon a “fork” of a given Supported Digital Currency, potentially with little to no warning, and during this period of Downtime you will not be able to buy or sell the Digital Currency subject to such fork.

Certain Protocols

As noted in Section 3, your Digital Asset Account only supports Supported Digital Currencies. Unless an asset is a Supported Digital Currency, you will not be able to properly hold or transact in it. Assets that are Supported Digital Currencies specifically exclude all other protocols and/or functionality which supplement or interact with Digital Currencies that we support. This exclusion includes but is not limited to: third-party issued Wrapped Digital Assets, metacoins, colored coins, side chains (unless such sidechain is a Supported L2 Network), or other derivative, enhanced, or forked protocols, tokens, or coins or other functionality, such as staking, protocol governance, and/or any smart contract functionality, which may supplement or interact with a Supported Digital Currency. Do not use your Digital Asset Account to attempt to receive, request, send, store, or engage in any other type of transaction or functionality involving any such protocol as Circle is not configured to detect, secure, or process these transactions and functionality. Any attempted transactions in such items will result in loss of the item and you acknowledge and agree that Circle has no liability with respect to any losses that you incur or suffer related to transacting or attempting to transact in any Digital Currency that is not a Supported Digital Currency or any related supplemental functionality or protocol.

Circle neither owns nor controls the underlying software protocols that govern the operation of Supported Digital Currencies other than USDC and EURC, which are described more fully in the USDC Terms and the EURC Terms. Such underlying protocols are generally open source, meaning that anyone can use, modify, copy, and distribute them. You acknowledge and agree that Circle is not responsible for the operation of any such protocols. Circle does not control them, and as such, cannot guarantee their functionality or the security or other features of their related network operations.

14. No Deposit Guarantee

Supported Digital Currencies and funds, if any, held in your Digital Asset Account are not deposits and are not covered by the deposit guarantee scheme operated by the Fonds de garantie des dépôts et de résolution under Articles L.312-4 et seq. of the French Code monétaire et financier. Your protection derives instead from the safeguarding, segregation and liability rules applicable to Circle under MiCA, together with your right of redemption at par value, at any time and free of charge, under Article 49 of MiCA.

15. Transaction Limits

Circle reserves the right to change the deposit, withdrawal, storage, transfer, and velocity limits on your Digital Asset Account where reasonably necessary for legal, regulatory, security, fraud-prevention, financial-crime, risk-management or operational reasons.. We may establish individual or aggregate transaction limits on the size or number of deposits, withdrawals, transfers or other transactions that you initiate using your Digital Asset Account during any specified time period. Any change to a limit which is unfavourable to you will be notified to you on a durable medium at least two (2) months before it takes effect, save where the change is required immediately by law or is necessary to address a security threat; fraud-prevention or financial-crime risk, in which case we will notify you as soon as possible thereafter.

16. Right to Change/Remove Features or Suspend/Delay Transactions

Subject to Section 17 of the USDC Terms, Section 17 of the EURC Terms (as applicable), we reserve the right to change, suspend, or discontinue any aspect of the Services or the Platform where reasonably necessary for technical, security, operational, legal or regulatory reasons, including hours of operation or availability of any feature. Where such change constitutes a change to this Agreement for which prior notice is required under applicable law, we will notify you in accordance with Section 26. This does not prevent us from making a change, suspension or discontinuation without prior notice where required by applicable law or regulation or reasonably necessary to address an urgent security, fraud-prevention, financial-crime or technical risk.. We may, delay any transaction if we have reasonable grounds to believe that such transaction is suspicious, may involve fraud or misconduct, violates applicable laws or applicable payment scheme rules, or violates any term of this Agreement. Where required by applicable law, we will inform you of the delay and, where permitted, the reasons for it.

17. Insufficient Funds

If you have insufficient funds in your Digital Asset Account to complete a transaction, such transaction will not be completed.

18. Refunds; Reversals

Once a transaction has been initiated (including, but not limited to, a Digital Currency Transfer), it cannot be reversed or refunded, except as set forth in this Agreement or as required by applicable law. For the avoidance of doubt, the technical irreversibility of a Digital Currency Transfer does not affect any right you may have to reimbursement or other remedies in respect of an unauthorised, non-executed, incorrectly executed or defective payment transaction under applicable law and Section 24 of this Agreement. You may have additional refund or chargeback rights under your agreement with the recipient of such funds, your financial institution, the applicable Partner, or applicable law. You should periodically review statements from your financial institution and any other service that you use to transact Digital Currency, which should reflect all applicable transactions made using the related transaction method. You can also access the record of transactions in your Digital Asset Account through the applicable Partner interface, website or mobile application.

19. Blocked Addresses & Asset Freezes

Circle reserves the right to “block” certain Digital Currency addresses and, if such addresses are Circle-custodied addresses, freeze associated Digital Currency (temporarily or permanently) that it determines, on reasonable grounds may be associated with illegal activity fraud, money laundering, terrorist financing or other financial crime, constitutes a Restricted Activity or Prohibited Transaction under Section 20, or activity that otherwise materially violates the terms of this Agreement, or where such blocking or freezing is required under applicable law, including Articles L.561-1 et seq. and L.562-1 et seq. of the French Code monétaire et financier, or by an enforceable order of a court or competent authority (“Blocked Addresses”). In the event that you send Digital Currency to a Blocked Address, or receive Digital Currency from a Blocked Address, Circle may freeze such Digital Currency and take steps to suspend or terminate your Digital Asset Account in accordance with Section 10 of this Agreement and applicable law. In certain circumstances, Circle may deem it necessary to report such suspected illegal activity to TRACFIN, the French law enforcement agencies or other competent authorities in accordance with applicable law. Circle may also be forced to freeze and potentially surrender Supported Digital Currency in the event it receives a legal order from a valid government authority requiring it to do so, including pursuant to Articles L.562-1 et seq. of the French Code monétaire et financier, other applicable restrictive measures, or an enforceable order of a court or competent authority. Circle will only surrender, transfer or otherwise dispose of the relevant Supported Digital Currency where required or authorised by applicable law or by such an order. Where reasonably practicable and permitted by applicable law, Circle will notify you of any such block or freeze and, where appropriate, the reasons for it

20. Restricted Activities and Prohibited Transactions

In connection with your use of the Services, you hereby agree that you will not:

1. violate, or assist in the violation of, any applicable law, statute, ordinance, or regulation (including, but not limited to, any operation of financial businesses or money services businesses without requisite licenses or regulatory approval or any gambling or betting activity that is illegal under applicable law), or other activities that involve proceeds of any unlawful activity;
2. violate, or assist in the violation of, any sanctions restrictive measures or asset-freezing measures applicable to you, Circle or the Services, including those imposed by the European Union or France;
3. unreasonably overload, detrimentally interfere with, or gain unauthorized access to our systems or other networks, or other activities that facilitate any of the foregoing;
4. infringe or violate, or induce or assist in infringement or violation of, any copyright, trademark, right of publicity or privacy or any other proprietary right of third parties or of ours, including any activity that would cause marketplace confusion or damage the reputation for quality inherent in USDC, EURC and Circle’s other trademarks;
5. engage or attempt to engage in any fraudulent act, scheme to defraud or deceive, or other financial crime;
6. engage or attempt to engage in wash trading, front-running, insider trading, market manipulation or other forms of market-based fraud or deceit; 
7. engage in activities that are associated with high illicit finance risks and that facilitate any of the foregoing: any mixing service (a mixer or tumbler used to obscure the source of funds), darknet market (or any other service or website that acts as a marketplace for illegal goods), ransomware, illicitly operating peer-to-peer exchanger, illicitly operating exchanges, or other activities that facilitate any of the foregoing; 
8. engage in any activity that Circle subsequently deems publicly to be impermissible for the provision of its Services, on reasonable grounds, including for legal, regulatory, security, fraud-prevention or financial-crime reasons, provided that Circle communicates any material additional restriction to you in accordance with applicable law;.
9. provide false, inaccurate, or misleading information;
10. transmit or upload any virus, worm, or other malicious software or program;
11. use the Services on behalf of any third party or otherwise act as an intermediary between Circle and any third parties;
12. collect any User information from other Users, including, without limitation, email addresses; or
13. upload, display or transmit any messages, photos, videos or other media that contain illegal goods, violent, obscene or copyrighted images or materials. The foregoing activities (1) through (13) are collectively referred to as “Restricted Activities”.

In addition, using the Services for transactions related to the following is prohibited, and Circle reserves the right to monitor for transactions that relate to:

1. any Restricted Persons or persons or entities located in Restricted Territories (as each term is defined in Section 33);
2. weapons of any kind in contravention of applicable laws, including but not limited to, as applicable, firearms, ammunition, knives, explosives, or related accessories;
3. controlled substances, including but not limited to narcotics, prescription drugs, steroids, or related paraphernalia or accessories, unless possession of and transactions involving such controlled substances are authorized by the jurisdiction in which the User is based as well as by the jurisdiction in which the transaction takes place, and provided any such transactions comply with all applicable law;
4. gambling activities including but not limited to sports betting, casino games, horse racing, dog racing, games that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoing, unless such activities are authorized by the jurisdiction in which the User is based as well as by the jurisdiction in which the transaction takes place, and provided any such activities comply with all applicable law;
5. money laundering or terrorist financing;
6. any sort of Ponzi scheme, pyramid scheme, or multi-level marketing program;
7. goods or services that infringe or violate any copyright, trademark, or proprietary rights under the laws of any jurisdiction;
8. credit repair services, or other services that may present consumer protection risks;
9. court ordered payments, structured settlements, tax payments, or tax settlements;
10. any unlicensed payment services, electronic money or crypto-asset service activity, or other regulated financial activity carried out without any authorisation or registration required under applicable law;
11. layaway systems, or annuities;
12. counterfeit goods, including but not limited to fake or “novelty” IDs;
13. wash trading, front-running, insider trading, market manipulation or other forms of market-based fraud or deceit;
14. purchasing goods of any type from “Darknet” markets, or any other service or website that acts as a marketplace for illegal goods (even though such marketplace might also sell legal goods); or
15. any other matters, goods, or services that from time to time we communicate to you that are unacceptable and which, for example, may be restricted by our and your financial institution or payment partners. The foregoing transactions (1) through (15) are collectively referred to as “Prohibited Transactions”.

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In the event that Circle learns you are making or attempting any Restricted Activities or Prohibited Transactions, Circle will consider it to be a violation of this Agreement and may suspend or terminate your Digital Asset Account in accordance with Section 10.

21. Taxes

Circle will maintain a record of your transaction history, which you will be able to access through your Digital Asset Account for purposes of making any required tax filings or payments, but it is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority. Circle will make any tax withholdings or filings that we are required by law to make, but Circle is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction.

22. Indemnification; Release

22.1. If you are not a Consumer 

You agree to indemnify and hold Circle, its affiliates, and service providers, and each of their officers, directors, agents, joint venturers, employees, and representatives harmless from any claim or demand (including attorneys’ fees and any losses, fines, fees or penalties imposed by any regulatory authority) arising out of your breach of this Agreement, your violation of any law or regulation or your use of the Services.

For the purpose of this Section 22.1, the term “losses” means all net costs reasonably incurred by us or the other persons referred to in this Section which are the result of the matters set out in this Section 22 and which may relate to any claims, demands, causes of action, debt, cost, expense or other liability, including reasonable legal fees (without duplication).

If you have a dispute with one or more Users or third parties, you release Circle (and its affiliates and service providers, and each of their officers, directors, agents, joint venturers, employees and representatives) from all claims, demands and damages arising out of or in connection with such dispute, except to the extent that Circle is liable under applicable law.

22.2. If you are a Consumer

To the extent permitted by applicable law, you will be responsible for losses reasonably and directly incurred by Circle as a result of your fraudulent or unlawful use of the Services or your material breach of this Agreement, to the extent that such losses are attributable to you. Nothing in this Section affects any limitation on your liability or other protection available to you under applicable consumer or payment services law.

For the purpose of this Section 22, the term “losses” means the direct losses reasonably incurred by Circle that fall within the circumstances described above.

If you have a dispute with one or more Users or third parties, you acknowledge that Circle is not responsible for resolving disputes between you and another User or third party, except to the extent that the relevant loss, claim or dispute results from an act or omission attributable to Circle or Circle is otherwise liable under applicable law.

23. Limitation of Liability; No Warranty

 23.1. If you are not a Consumer 

YOU EXPRESSLY UNDERSTAND AND AGREE THAT CIRCLE AND OUR AFFILIATES AND SERVICE PROVIDERS, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND REPRESENTATIVES WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY DAMAGES, OR DAMAGES FOR LOSS OF PROFITS INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF CIRCLE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, RESULTING FROM: (I) THE USE OR THE INABILITY TO USE THE SERVICES; (II) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION, OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM THE SERVICES; (III) UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; OR (IV) ANY OTHER MATTER RELATING TO THE SERVICES.

THE SERVICES ARE PROVIDED "AS IS" AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. CIRCLE, OUR AFFILIATES, AND OUR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND SUPPLIERS SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. CIRCLE MAKES NO WARRANTY THAT (I) THE SERVICES WILL MEET YOUR REQUIREMENTS, (II) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, OR (III) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU WILL MEET YOUR EXPECTATIONS.

Circle will make reasonable efforts to ensure that requests for Digital Asset Account transactions are processed in a timely manner, but Circle makes no representations or warranties regarding the amount of time needed to complete processing because the Services are dependent upon many factors outside of our control, such as delays in the banking system or the international mail service. Some jurisdictions do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you. 

Nothing in this Section 23.1 excludes or limits any liability of Circle under applicable law, including under applicable payment services or crypto-asset laws.

23.2. If you are a Consumer 

SUBJECT TO THE STATUTORY RIGHTS AND PROTECTIONS AVAILABLE TO CONSUMERS, WHICH APPLY REGARDLESS OF THIS SECTION, THE SERVICES ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS OR IMPLIED, EXCEPT FOR ANY REPRESENTATION OR WARRANTY THAT CANNOT BE EXCLUDED UNDER APPLICABLE LAW. CIRCLE DOES NOT WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED, ERROR-FREE OR FREE FROM CYBERATTACKS OR OTHER SECURITY INCIDENTS.

TO THE EXTENT PERMITTED BY APPLICABLE LAW, CIRCLE WILL NOT BE LIABLE TO YOU FOR ANY LOSS OF PROFITS, BUSINESS, GOODWILL OR OPPORTUNITY, OR FOR ANY LOSS THAT CIRCLE COULD NOT REASONABLY HAVE FORESEEN.

CIRCLE WILL NOT BE LIABLE FOR ANY FAILURE OR DELAY IN PERFORMING ITS OBLIGATIONS TO THE EXTENT CAUSED BY CIRCUMSTANCES OUTSIDE CIRCLE’S REASONABLE CONTROL.

NOTHING IN THIS SECTION EXCLUDES, LIMITS OR MODIFIES ANY RIGHT OR REMEDY AVAILABLE TO YOU, OR ANY LIABILITY OF CIRCLE, THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW, INCLUDING UNDER APPLICABLE CONSUMER, PAYMENT SERVICES OR CRYPTO-ASSET LAWS.

24. Unauthorized and Incorrect Transactions

Unauthorised, non-executed or incorrectly executed payment transactions are subject to Articles L.133-18 to L.133-24 of the French Code monétaire et financier, as applicable.

When any transaction occurs using your credentials (including, but not limited to, Digital Currency Transfers), the use of your credentials will not, by itself, be sufficient to establish that you authorised the transaction or that you acted fraudulently or failed, intentionally or with gross negligence, to comply with your obligations relating to your personalised security credentials. Where you deny having authorised a transaction, Circle will bear the burden of proving, in accordance with applicable law, that the transaction was authenticated, accurately recorded and entered in the accounts and was not affected by a technical breakdown or other deficiency.. If you believe you did not authorize a particular transaction or that a transaction was incorrectly carried out, you must contact the applicable without undue delay after becoming aware of the transaction via the Partner's approved communication methods. Notification to the applicable Partner through the communication methods made available for your Digital Asset Account will constitute notification for the purposes of this Section. You should regularly check your Digital Asset Account balances and transaction history to ensure that you notify the applicable Partner as soon as possible of any unauthorized or incorrect transactions. We are not responsible for any claim for unauthorized or incorrect transactions unless you have notified the applicable Partner in accordance with this Section and the Partner's terms and conditions.

In order to be entitled to rectification of an unauthorised, non-executed or incorrectly executed payment transaction, you must notify the applicable Partner without undue delay after becoming aware of the transaction and no later than thirteen (13) months after the debit date, except where Circle has failed to provide or make available the information relating to that transaction as required by applicable law.  Your notification takes effect as against Circle at the time you give it to the Partner, whether or not the Partner has transmitted it to Circle, and Circle’s obligations under this Section run from that time.

Where a payment transaction is unauthorised, Circle will refund the amount of the transaction immediately and, in any event, no later than the end of the business day following the day on which Circle becomes aware of or is notified of the transaction, and will, where applicable, restore your Digital Asset Account to the position in which it would have been had the transaction not taken place, except where Circle has reasonable grounds to suspect fraud and proceeds in accordance with applicable law.

Your liability for losses resulting from an unauthorised transaction arising from the loss, theft or misappropriation of your personalised security credentials will not exceed EUR 50, except where you have acted fraudulently or have intentionally or with gross negligence failed to comply with your obligations relating to the security of those credentials. Your liability will be excluded altogether where provided by applicable law.  You bear no loss at all, and the limit of EUR 50 does not apply, where Circle has not required strong customer authentication in accordance with Section 9, where the loss was not detectable by you before the payment or was caused by an act or omission of Circle or of a person acting on its behalf, or, in respect of any transaction occurring after your notification, where you have notified the loss, theft, misappropriation or unauthorised use of your credential, in each case except where you have acted fraudulently.

In connection with investigating or resolving any unauthorized or incorrect transaction, we or the applicable Partner may request further information from you regarding the circumstances of the transaction. If you do not provide such information when requested, it may inhibit our ability to resolve your issue or limit your rights under this Section. We will investigate and resolve any reported unauthorised or incorrect transaction and will credit, refund or otherwise rectify the transaction as required by applicable law..

If we discover an error on our own that results in you receiving less than the amount of funds to which you are entitled, we will use commercially reasonable efforts to rectify it by crediting your Digital Asset Account with USDC or EURC, (as applicable) corresponding to the difference. If we discover an error on our own that results in you receiving more than the amount of funds to which you are entitled, we may rectify it by debiting your Digital Asset Account with USDC or EURC, (as applicable) corresponding to the difference.

All communications regarding any unauthorized or incorrect transaction, including any explanation of the basis for a decision, will come from the applicable Partner. If you have any questions or concerns regarding a decision, you can request further information from the applicable Partner regarding the details that led to the decision. The use of the applicable Partner as the communication channel does not affect Circle's obligations or your rights under this Section or applicable law.

25. Complaints Handling; Amicable Settlement; Consumer Mediation

Please read this Section 25 carefully. It is part of your contract with Circle and affects your rights.

25.1 Complaints Handling. If you have a complaint regarding your Digital Asset Account or the Services, you may submit it to Circle free of charge by writing to [email protected], to Circle’s registered office, or through any other complaints channel made available to you. Circle maintains procedures designed to ensure the prompt, fair and consistent handling of complaints.

We will acknowledge receipt of your complaint within five (5) business days, unless we provide you with a substantive response within that period. We will provide a final response as soon as possible and no later than fifteen (15) business days after receipt of your complaint. In exceptional circumstances, where we are unable to provide a final response within fifteen (15) business days for reasons beyond our control, we will inform you of the reasons for the delay and of the date by which you will receive our final response, which will in any event be no later than thirty-five (35) business days after receipt of your complaint.

Our response will address the issues raised in your complaint and will be provided to you on a durable medium. A description of our complaints-handling procedure is available free of charge on our website.

25.2 Amicable Settlement. If a dispute arises between you and Circle, you and Circle may seek in good faith to resolve it amicably. Either party may give the other written notice describing the dispute and the relief sought. Recourse to this procedure is voluntary and is not a condition of your right to bring proceedings before a competent court or, if you are a Consumer, to refer the dispute to the consumer mediator referred to below.

25.4 Court Proceedings. Nothing in this Section 25 prevents you or Circle from bringing proceedings before a competent court. If you are a Consumer, nothing in this Agreement deprives you of any right to bring proceedings before the courts having jurisdiction under applicable consumer law or to participate in a group action (action de groupe) or other representative action where available under applicable law.

26. Amendments

Circle may amend any portion of this Agreement where there is a valid reason to do so, including a change in applicable law or regulation, a change in the Services or in the technical or operational conditions under which they are provided, a change in Circle’s costs, or the correction of an error.

Circle will notify you of any proposed amendment on a durable medium at least two (2) months before the date on which it is proposed to take effect. The notice will set out the proposed amendment, the date on which it is proposed to take effect and your rights under this Section.

You may accept or reject the proposed amendment before that date. You will be deemed to have accepted the amendment only if you have not notified Circle that you reject it before the proposed effective date and Circle has expressly informed you in the notice that your silence will be treated as acceptance.

If you reject the proposed amendment, you may terminate this Agreement free of charge and with immediate effect at any time before the proposed effective date, in accordance with Section 10. Any Supported Digital Currencies held for you will remain subject to your applicable rights of return, transfer or redemption. 

An amendment that is unfavourable to you will not apply retroactively to transactions initiated before it takes effect. Changes that are exclusively to your benefit or that are required to take effect immediately by applicable law or regulation may take effect earlier where permitted by applicable law, and Circle will inform you on a durable medium as soon as reasonably practicable.

27. Assignment

You may not transfer or assign this Agreement or any rights or obligations hereunder, by operation of law or otherwise and any such attempted assignment shall be void (it being understood and agreed that this Section 27 shall not prohibit you from sending any Supported Digital Currency from your Digital Asset Account in accordance with the terms hereof). We reserve the right to assign or transfer this Agreement and the rights and obligations under this Agreement another entity, provided that such assignment or transfer does not reduce your rights under this Agreement or applicable law. We will notify you of any such assignment or transfer on a durable medium before it takes effect.. If you object to such transfer or assignment, you may stop using our Services and terminate this Agreement free of charge before the transfer or assignment takes effect, in accordance with Section 10 by contacting Circle’s Support Team and asking us to close your Digital Asset Account, by requesting closure of your Digital Asset Account through the applicable Partner channel made available through the Platform for your account.

28. Change of Control

In the event that Circle is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.

29. Survival; Force Majeure

Upon termination of your Digital Asset Account or this Agreement for any reason, all rights and obligations of the parties that by their nature are continuing will survive such termination.

Circle shall have no liability for any failure or delay resulting in the performance of its obligations under this Agreement to the extent caused by circumstance beyond our reasonable control, including but not limited to governmental action or acts of terrorism, pandemics, earthquake, fire, flood, or other acts of God, labor conditions, power failures, equipment failures, and Internet disturbances. Nothing in this Section excludes or limits any liability or obligation of Circle that cannot be excluded or limited under applicable law.

30. Website; Third Party Content

Circle strives to provide accurate and reliable information and content on the Circle website, but such information may not always be correct, complete, or up to date. Circle will update the information on the Circle website as necessary to provide you with the most up to date information, but you should always independently verify such information. The Circle website may also contain links to third party websites, applications, events or other materials (“Third-Party Content”). Such information is provided for your convenience and links or references to Third-Party Content do not constitute an endorsement by Circle of any products or services. Circle shall have no liability for any losses incurred as a result of actions taken in reliance on the information contained on the Circle website or in any Third-Party Content.

31. Limited License; IP Rights

We grant you a limited, non-exclusive, non-sublicensable, and non-transferable license, subject to the terms and conditions of this Agreement, to access and use the Services solely for approved purposes as determined by Circle. Any other use of the Services or the Platform is expressly prohibited. Circle and its licensors reserve all rights in the Services and you agree that this Agreement does not grant you any rights in or licenses to the Services except for the limited license set forth above. Except as expressly authorized by Circle, you agree not to modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the Services or the Platform, in whole or in part. If you violate any portion of this Agreement, your permission to access and use the Services and your Digital Asset Account may be terminated pursuant to this Agreement. "Circle.com", "Circle", and all logos related to the Services are either trademarks, or registered marks of Circle or its licensors. You may not copy, imitate, or use them without Circle's prior written consent. All right, title, and interest in and to the Circle website, any content thereon, the Services, and all technology and any content created or derived from any of the foregoing is the exclusive property of Circle and its licensors.

32. Unclaimed Property

If Circle is holding assets in your Digital Asset Account, and Circle is unable to contact you and has no record of your use of the Services for several years, applicable law may require Circle to report these funds as unclaimed property to the applicable jurisdiction. If this occurs, Circle will try to locate you at the address shown in our records, but if Circle is unable to locate you, it may be required to deliver any such funds to the applicable entity designated by applicable law as unclaimed property. Circle reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.  Any such fee or charge will be applied only where, and to the extent that, applicable law expressly permits, will not exceed the ceilings set by applicable law, and will not be applied to the redemption of an e-money token.

33. Applicable Law; Legal Compliance

Your use of the Services is subject to the laws, regulations, and rules of any applicable governmental or regulatory authority, including, without limitation, all applicable tax, anti-money laundering (“AML”) and counter-terrorist financing (“CTF”) provisions including applicable provisions of the French Code monétaire et financier, Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets and MiCA.

You unequivocally agree and understand that by registering your Digital Asset Account and using the Services in any capacity, you will act in compliance with and be legally bound by this Agreement and all applicable laws and regulations (including, without limitation, those stated in this Section 33, where applicable). Your continued use of the Digital Asset Account and the Services is subject to your continued compliance with this Agreement and applicable law, without prejudice to any rights you have under mandatory applicable law. Circle’s AML and CTF procedures are guided by all applicable laws and regulations regarding AML and CTF. These standards are designed to prevent the use of the Services for money laundering or terrorist financing activities. We take compliance very seriously and it is our policy to take all necessary steps to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing or any other financial crimes.

You agree, represent, and warrant that all Supported Digital Currencies and any funds in your Digital Asset Account, or transferred by you in connection with the Services, are not the direct or indirect proceeds of any criminal or fraudulent activity.

The Services are subject to applicable economic sanctions, restrictive measures and asset-freezing measures, including those adopted by the European Union and applicable French national asset-freezing measures under Articles L.562-1 et seq. of the French Code monétaire et financier, pursuant to which Circle may be prohibited from providing Services to, or entering into or maintaining relationships or transactions with, certain persons, entities or territories. By using the Services, you represent that your use of the Services does not violate any such applicable measures. Without limiting the foregoing, you may not use the Services if (i) you are located or resident in, or otherwise subject to restrictions applicable to, a country or territory in respect of which applicable sanctions or restrictive measures prohibit Circle from providing the Services (“Restricted Territories”), (ii) you are a person or entity subject to applicable sanctions, restrictive measures or asset-freezing measures (“Restricted Persons”), or (iii) you intend to transact with any Restricted Territories or Restricted Persons.

In the event that we are required to block Supported Digital Currencies or funds associated with your account in accordance with applicable sanctions, restrictive measures, asset-freezing requirements or an enforceable order of a court or competent authority, we may: (i) suspend your account; (ii) terminate your account; (iii) return funds to the destination of their origin or to an account specified by authorities; or (iv) require you to withdraw funds from your account within a certain period of time, in each case to the extent permitted or required by applicable law and in accordance with Section 19. Any surrender, transfer or other deprivation of your rights in Supported Digital Currencies or funds will occur only where required or authorised by applicable law or by an enforceable order of a court or competent authority. To the extent permitted by applicable law, Circle will not be liable for losses resulting solely from actions Circle is required to take in order to comply with applicable law or an enforceable order of a court or competent authority, without prejudice to any liability of Circle that cannot be excluded or limited under applicable law.

34. Governing Law; Venue

This Agreement and any non-contractual obligations arising out of or in connection with it are governed by French law.

If you are a Consumer and you are habitually resident in another Member State of the European Union, this choice of law does not deprive you of the protection afforded to you by provisions of the law of the country in which you are habitually resident that cannot be derogated from by agreement. You may bring proceedings before any court having jurisdiction under applicable law. Nothing in this Agreement deprives you of the benefit of any mandatory rule of jurisdiction applicable to you as a Consumer.

If you are not a Consumer, the courts within the jurisdiction of the Paris Court of Appeal shall have exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement, including any dispute relating to its existence, validity, interpretation, performance or termination, subject to any mandatory rule of applicable law.

35. Entire Agreement

The failure of Circle to exercise or enforce any right or provision of the Agreement shall not constitute a waiver of such right or provision. If any provision of this Agreement shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that this Agreement shall otherwise remain in full force and effect and remain enforceable between the parties, except as specified in Section 26. If you are a Consumer, any term of this Agreement that is found to be unfair shall be deemed unwritten (réputé non écrit) in accordance with applicable consumer law, without prejudice to any other rights or remedies available to you. The headings and explanatory text are for reference purposes only and in no way define, limit, construe, or describe the scope or extent of such section. This Agreement, including any additional agreement incorporated by reference herein; Circle’s policies governing the Services referenced herein (including, without limitation, those set forth in the USDC Terms, EURC Terms); the Circle Privacy Policy; the Cookie Policy; and the E-Sign Consent Policy constitute the entire agreement between you and Circle with respect to the use of the Services without prejudice to any pre-contractual information provided to you which forms part of the contractual relationship under applicable law and to any rights you have under mandatory applicable law. Any terms between you and the Partner, including the Partner Terms, govern only your relationship with that Partner and do not amend this Agreement unless Circle expressly agrees otherwise. This Agreement is not intended and shall not be construed to create any rights or remedies in any parties other than you and Circle and other Circle affiliates which each shall be a third-party beneficiary of this Agreement, and no other person shall assert any rights as a third-party beneficiary hereunder.

36. User Support

Day-to-day questions regarding your Digital Asset Account should be directed in the first instance to the applicable Partner, which provides first-line support. This does not affect your right to contact Circle directly, and in particular your right under Section 25.1 to submit a complaint to Circle free of charge and your right to refer a dispute to the consumer mediator designated by Circle under Section 25.3.

37. Right of Withdrawal 

If you are a Consumer and this Agreement has been concluded at a distance, you have the right to withdraw from this Agreement within fourteen (14) calendar days, without giving any reason and without incurring any penalty or cost other than those provided by applicable law, in accordance with Articles L.222-7 et seq. of the French Code de la consommation. The withdrawal period runs from the day on which this Agreement is concluded or, if later, from the day on which you receive the contractual terms and the pre-contractual information required by applicable law.

To exercise your right of withdrawal, you must notify Circle before the withdrawal period expires by means of an unambiguous statement expressing your decision to withdraw, sent to [email protected]. You may, but are not required to, use the model withdrawal form annexed to this Agreement. You may also exercise your right of withdrawal using the withdrawal function made available through the Platform in accordance with applicable law.

If you exercise your right of withdrawal, Circle will reimburse you, without undue delay and no later than thirty (30) calendar days after receiving notice of your withdrawal, any amounts received from you in connection with this Agreement, subject to any amount that Circle is entitled to retain under applicable law in respect of Services actually provided at your express request before withdrawal. Circle will also return or redeem any Supported Digital Currencies held for you in accordance with applicable law and the applicable USDC Terms or EURC Terms.

The right of withdrawal under this Section applies to this Agreement as a framework contract. It does not affect the validity or finality of individual transactions executed before you exercise that right, and any exception to the right of withdrawal in respect of a particular transaction or Service will apply only to the extent provided by applicable law.

No right of withdrawal applies to an individual FX Operation as described in Section 3.6, the price of which depends on fluctuations in the foreign exchange market that are outside Circle’s control.

ANNEX 1 : MODEL WITHDRAWAL FORM

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RIGHT OF WITHDRAWAL

You have the right to withdraw from the Digital Asset Account User Agreement within fourteen (14) calendar days from the date on which the Agreement is concluded or, if later, from the date on which you receive the contractual terms and the required pre-contractual information, in accordance with Section 37 of the Agreement.

If you wish to exercise your right of withdrawal using this form, please complete and send it to Circle before the expiry of the fourteen (14)-day withdrawal period:

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Circle Internet Financial Europe SAS

4 rue de Marivaux

75002 Paris

France

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You may also exercise your right of withdrawal using the withdrawal function made available through the Platform.

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WITHDRAWAL FROM THE DIGITAL ASSET ACCOUNT USER AGREEMENT

To: Circle Internet Financial Europe SAS

I hereby give notice that I withdraw from the Digital Asset Account User Agreement entered into with Circle Internet Financial Europe SAS.

Date on which the Agreement was concluded:

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Name of Consumer:

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Email address associated with the Digital Asset Account:

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Address of Consumer:

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Date:

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Signature of Consumer:

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