TERMS AND CONDITIONS (T&Cs) 

These Terms constitute a legally binding agreement between you (“you” or “your”) and Australian Blockchain Association Pty Ltd (“AusBlock”, “ABA”, “we”, “us” or “our”). The Terms govern your use of the AusBlock websites, applications, and other platforms (collectively, “services”) made available to you on or through the platform or otherwise. AusBlock services may be provided by AusBlock or, if specified in these Terms, any Product Terms or any additional terms, by any AusBlock affiliate. 

By registering for an AusBlock Account, accessing the platform, and/or using the AusBlock services, you agree that you have read, understood, and accepted these Terms, together with any additional documents or terms referred to in these Terms. You acknowledge and agree that you will be bound by and will comply with these Terms, as updated and amended from time to time. 

If you do not understand and accept these Terms in their entirety, you should not register for an AusBlock account or access or use the platform or any AusBlock service. 

RISK WARNING 

As with any asset, the value of Digital Assets can fluctuate significantly, and there is a material risk of economic loss when buying, selling, holding, or investing in Digital Assets. You should therefore consider whether trading or holding Digital Assets is suitable for you in light of your financial circumstances. 

Further information on the risks associated with using the AusBlock services is set out in our Risk Warning, which may be updated from time to time. You should read the Risk Warning carefully; it does not explain all potential risks, nor how those risks might relate to your personal circumstances. 

It is important that you fully understand the risks involved before deciding to use the AusBlock services. We are not your broker, intermediary, agent, or advisor, and we have no fiduciary obligation to you in connection with your use of the AusBlock services. We do not provide investment or consulting advice; any information we provide is not intended as advice of any kind. 

You alone must determine whether any investment, strategy, or transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance. We do not recommend that any Digital Asset be bought, earned, sold, or held by you. Before making any decision to buy, sell, or hold Digital Assets, you should conduct your own due diligence and consult your financial advisor. We are not responsible for losses arising from decisions you make based on our information. 

INFORMATION ABOUT OUR AGREEMENT WITH YOU

Introduction

About Us

AusBlock is an Australian education solutions provider, offering a digital exchange ecosystem which may incorporate Digital Assets. We provide users with a marketplace to buy and sell Digital Assets, integrated custody solutions, and other Digital Asset-related services. We operate under Australian laws including the Privacy Act 1988 (Cth), the Australian Privacy Principles, and AUSTRAC requirements under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (“AML/CTF Act”), as well as any applicable international obligations. 

These Terms 

By registering for an AusBlock account, you enter into a legally binding agreement with us. These Terms detail who we are, how we will provide the AusBlock services, any conditions or limitations, how the Terms might change, and other important information. Please read them carefully. 

Additional Documents

These Terms refer to documents that also apply to your use of the AusBlock services, including: 

  • Our Privacy Policy (see “AusBlock Privacy Policy Last Updated: 11 March 2025”), which explains how we collect, use, disclose, and safeguard your personal information. 
  • Our Risk Warning, which outlines major risks of buying, selling, and holding Digital Assets. 
  • Our Fee Structure page, which details fees applicable to certain services. 
  • Product Terms, which may set forth additional rules specific to certain products or features.

Eligibility

Criteria

To be eligible for an AusBlock account, you must: 

  • Be an individual (18 years or older), corporation, entity, or organisation with legal capacity to form a binding contract. 
  • If acting on behalf of a business or other entity, be fully authorised to bind that entity and comply with these Terms. 
  • Not have been previously suspended or removed from AusBlock services. 
  • Not be a “Restricted Person,” such as someone subject to sanctions, located in a prohibited country, or hold or are related to a politically exposed person. 
  • Not otherwise reside in, or operate from, a jurisdiction where local laws forbid your use of AusBlock services. 
  • Not currently maintain another AusBlock account, unless we have agreed to it. 

Amendments

We may update our eligibility criteria at any time, sometimes without prior notice if required by law or urgent circumstance. We will notify you as soon as practicable after such changes. 

How We Contact Each Other

Contacting Us

For questions, feedback, or complaints, please email us at [email protected]. These Terms may specify different addresses or channels for specific notices, so please follow any instructions. 

Contacting You

We may use your provided email, SMS, or telephone contact details. Keep them accurate and current. Failing to update them means we are not liable if you miss critical information. 

AusBlock Services

Product Terms 

Once you open an AusBlock Account, you may use AusBlock services subject to these Terms and any additional Product Terms that govern specific services (e.g. advanced trading features). 

Intra-group Services

Some AusBlock services may be provided by an AusBlock Affiliate. References in these Terms to “AusBlock” include our affiliates to the extent they supply you with relevant services. 

Fees and Calculations

Fees

You must pay fees for certain AusBlock services as published on the Fee Structure page or otherwise communicated. You authorise us to deduct applicable fees from your AusBlock account. If you do not hold sufficient assets in one Digital Asset, we may convert from another Digital Asset at a reasonable market rate to cover fees. 

Amending Fees

We may adjust fees and will try to provide advance notice. Continuing to use our services after the effective date of such changes indicates acceptance. 

Calculations

Our fee calculations or other relevant calculations are final and binding absent Manifest Error. We undertake these calculations in good faith. 

INFORMATION ABOUT YOUR AUSBLOCK ACCOUNT 

Creating an AusBlock account

Opening an Account

You need an AusBlock account to use our services. We may refuse applications or limit the number of accounts without providing reasons. 

Sole Benefit

  • Individual accounts must only be used by you for your own benefit, unless we approve a third-party usage in writing. 
  • Corporate accounts must only be used for the entity’s benefit, and each person accessing it must pass identity checks (becoming a “Permitted User”). 
  • Accounts held as a Trustee, must only be used for the beneficiary’s benefit, and each person accessing it must pass identity checks (becoming a ‘Permitted User”). 

Identity Verification

You must complete our Know Your Customer (KYC) process, providing accurate and truthful data. By doing so, you authorise us to verify your identity through third parties and to store your personal data as required by the Privacy Policy. 

Enhanced Due Diligence

We may require additional records (e.g. face-to-face interviews, extra documentation) if we deem it necessary to meet AML/CTF or other obligations. 

Records

We may retain personal data as long as needed for legitimate business or legal compliance, including a (7) year period under AML/CTF rules, consistent with our Privacy Policy. 

Information Requests

Requests

We may ask you for information at any time to fulfill Australian or international legal requirements, confirm your identity, or investigate suspicious activity. You agree to comply promptly. 

Effect

Failing to provide requested information or providing incomplete or inaccurate data may lead us to suspend or adjust your account privileges. 

Consequences

If you do not comply, we may immediately suspend or terminate your account or restrict services without notice. 

Accessing your AusBlock Account

Access Requirements

You need appropriate hardware and internet access. We may require multi-factor authentication. By using your valid credentials (“User IDs”), you gain entry to your AusBlock account. 

Restricting Access

You must ensure no one else (other than Permitted Users, if corporate or held in trust) uses your account. AusBlock can take measures against unauthorised sharing or usage. 

Account Information and Transaction Records

Account History

You can view transaction logs and balances (“Account History”) on the Platform. Notify us within fourteen (14) days of any unrecognised entries or potential errors. 

Errors

We may correct any error and may void or reverse transactions involving Manifest Error or Improper Intent. Where necessary, we adjust your account accordingly and are not liable for resulting losses if we comply with these Terms and applicable law. 

Information Sharing

To comply with AUSTRAC or other obligations, we may share your transaction details with regulators or service providers per our Privacy Policy. 

USING YOUR ACCOUNT

Instructions

Submission

Any instruction (“Instruction”) you provide must be complete and accurate. We do not verify them for accuracy or duplication. Once submitted, an Instruction is generally irrevocable without our written consent. 

Acting on Instructions

By issuing an Instruction, you authorise us to effect the specified Transaction. You must hold sufficient assets in your account to cover the transaction and fees. 

Withdrawals

You may withdraw Digital Assets to an external address, subject to your account status and compliance checks. We may suspend withdrawals if required by law, for investigations, or other valid reasons. 

Transactions

Execution

Transactions may be with AusBlock directly or with other users. We do not warrant timely or guaranteed completion. 

Unauthorised

You are responsible for your credentials. We assume instructions from your account are authorised unless we’ve been notified of compromise. We only bear responsibility for unauthorised transactions if (1) you have promptly reported the security breach and (2) our internal investigation finds that the breach resulted solely from our technical fault. 

Retention

We can keep a record of all transaction data for as long as is legally required or legitimate business reasons demand, typically a minimum of (7) years under AML/CTF laws.

Transaction limits

Limits

We may impose daily or periodic limits on your trading, deposit, or withdrawal volumes. These appear in your account interface. 

Adjustments

We can change these limits at any time. You may request an increase, but that is subject to additional checks and our discretion. 

Supported Digital Assets

Scope

Only Digital Assets we designate as “supported” can be transacted. That list may change. If a Digital Asset is removed, you’ll be notified (where feasible), and you may only withdraw that asset from your account afterward. 

Responsibility

AusBlock is not liable if you deposit or withdraw unsupported Digital Assets or use incompatible addresses. If we attempt a recovery, we may charge fees and do not guarantee success. 

Backed Digital Assets

We may support assets pegged or backed (e.g. stablecoins). Before using them, ensure you understand the risks. AusBlock has no obligation to redeem or repurchase them. We do not guarantee they maintain any particular value. 

Account security

Your responsibility

Secure your hardware, run antivirus, maintain backups, and keep User IDs confidential. We are not liable for claims arising from your negligence in security or backups. 

Measures

Adhere to our security protocols, including strong passwords and up-to-date contact details. Never share 2FA codes or passwords. Immediately notify us if you suspect compromise. 

Monitoring

It is vital to check your account’s transaction history regularly to spot suspicious activity. Failure to do so is at your own risk. 

Suspected Breach

If you suspect or discover a security breach, you must: 

  • Notify us via [email protected] and provide accurate updates. 
  • Lock your account if possible. 
  • Follow any steps we require for containment and resolution.
    We may share relevant information with third parties to address the breach if necessary. 

OTHER IMPORTANT INFORMATION

Privacy

The Privacy Policy

Our handling of personal data is detailed in our AusBlock Privacy Policy (Last Updated: 11 March 2025), which is part of these Terms. By using our services, you agree to the data practices described therein. If any local or international laws demand additional measures, we will comply as required. 

Changes to the Terms, etc.

Modifications

We may change these Terms or any incorporated terms (like Product Terms). Updated Terms will appear on our website, www.ausblock.com.au, and we may also email or otherwise notify you. 

Effectiveness

Unless immediate effect is required (e.g. to comply with urgent legal obligations), changes take effect after publication or notice. Continuing to use AusBlock after changes is deemed acceptance. 

Fee changes

We may also alter fees by updating the Fee Structure page. If you disagree, you can close your account. Otherwise, your continued use indicates acceptance. 

Closing your AusBlock Account

Your right

You may close your account at any time following our specified procedures. Termination is free, but you must settle any obligations (fees or negative balances). We may cancel or suspend pending transactions upon closure. 

You cannot close your account if: 

  • You are trying to evade a legal investigation. 
  • You have pending transactions or a negative balance. 
  • Your account is under freeze or similar restriction. 

Post-Closure

You must withdraw all Digital Assets from your account. If you fail to do so or remain inactive for 90 days, we will mark your account dormant and notify you. 

Dormant Accounts

If you do not respond within (30) days to our dormant notice, we may: 

  • Convert your Digital Assets into another type (e.g. stablecoin) to preserve some value. 
  • Transfer them to a third party for safekeeping. 
  • Mark your account as dormant and possibly levy a maintenance fee. 
  • Close your dormant account entirely. 
  • In instances of deceased customers, where we have been notified of ‘Deceased’ status, the account may be retained as dormant pending legal requirements. 
  • In instances of deceased customers, where we have not been notified of ‘Deceased’ status, the Digital Assets held in the account may be converted to another type (e.g. stablecoin) to preserve some value. 

No interest, reward, or incentive will be paid on dormant accounts unless explicitly required by law.

Termination, suspension, holds, and restrictions

Our Right

We may modify or discontinue any feature of AusBlock services at any time, including refusing or blocking transactions, suspending your account, or restricting your usage for reasons such as: 

  • Failure to meet eligibility or identity verification. 
  • Suspicion of illegal, fraudulent, or unauthorised use. 
  • Non-compliance with AML/CTF or other laws. 
  • Providing inaccurate information. 
  • Payment chargebacks or negative balances. 
  • Other valid business or regulatory concerns. 

We generally try to provide notice unless law prohibits it. 

Acknowledgement

You accept that we may take such actions based on internal risk measures we cannot disclose in detail. 

Consequences

If suspended or restricted, open trades may be closed, pending transactions cancelled, or funds withheld. If reactivation is possible, you may need to pay outstanding amounts or provide more information. 

Unlawful Possession

If we have reason to suspect Digital Assets in your account are stolen or not lawfully yours, we may impose a hold until you prove ownership. 

Cross-border Compliance

Some countries or regions may be off-limits. If you are travelling to or from blacklisted jurisdictions, your access may be blocked. You must not circumvent such restrictions. 

 

INTELLECTUAL PROPERTY

Background IP

All “AusBlock IP” remains vested in AusBlock or AusBlock Affiliates. You do not acquire ownership or other rights except for the limited licence set out below.

Licence of AusBlock IP

We grant you a non-exclusive, revocable licence to use AusBlock IP strictly for receiving AusBlock services. This licence ends if your account is terminated or these Terms expire

Licence of User IP

You grant us a perpetual, irrevocable, royalty-free licence to use any intellectual property you submit (e.g., user posts) for the purpose of operating and improving the AusBlock services, including sub-licensing to service providers if necessary. 

YOUR OBLIGATIONS AND LIABILITY

Prohibited use

You agree not to: 

  • Breach these Terms or the Product Terms. 
  • Engage in market manipulation or deceptive practices (pump-and-dump, wash trading, etc.). 
  • Provide false or misleading data to AusBlock. 
  • Use bots or scrapers to access or undermine the platform. 
  • Violate Australian or international sanctions, including those enforced by AUSTRAC, OFAC, or the United Nations. 
  • Circumvent security measures or attempt to disrupt AusBlock systems. 

Representations and Warranties

At all times, you represent and warrant that: 

  • All information you provide is accurate and current. 
  • You have independently assessed the suitability of the services for your financial situation. 
  • You have authority to enter these Terms. 
  • No conflict with local law or your contractual obligations arises by using AusBlock. 
  • You are not a restricted person or operating from a prohibited area. 

Technology Disclaimers

No Warranty

AusBlock services are provided “as is” and “as available,” without warranties (express or implied). We disclaim any implied warranties of merchantability or fitness. 

Suspension

We may suspend access for maintenance or emergencies. We are not liable for delays beyond our control. 

Content

We do not guarantee all materials on our Site or Platform are accurate, complete, or current. 

External Links

We are not responsible for content or services on third-party sites accessible via links. 

Network/Compatibility

You bear responsibility for your device’s compatibility and connectivity. We do not ensure services will work seamlessly on every system or network.

Indemnity

Indemnification

You undertake to indemnify and hold AusBlock harmless against any third-party claims or regulatory demands and associated losses arising from your use of services, your breach of these Terms, or your violation of applicable law. 

Release

If a dispute arises with another user or external party involving AusBlock, you release us from any claims or damages relating to that dispute. 

Liability

Our Liability

We accept no responsibility for loss except where it results directly from our gross negligence, wilful misconduct, or fraud. In no event does our liability exceed the total fees you paid to AusBlock in the (12) months prior to the event. 

Limitations.

Under no circumstances will we be liable for indirect or consequential losses (e.g. lost profits, business, or data), or losses from blockchain malfunctions, external hacks, or user mistakes in safeguarding credentials. 

Security

We are not liable for viruses, malware, phishing, or data corruption affecting your equipment. 

Fiat Currency Disclaimers

Any balance displayed in fiat currency in your account is purely notional. AusBlock does not hold your fiat currency in a traditional banking sense nor does it provide deposit-taking or remittance services regulated under Australian banking law. 

RESOLVING DISPUTES: FORUM, ARBITRATION, CLASS ACTION WAIVER

Notice of Claim and Dispute Resolution

Contact Us First

If you have a dispute, please email us at [email protected]. We will try to resolve your concerns promptly without formal proceedings. 

Notice of Claim

If unresolved, you must send a written Notice of Claim summarising the dispute. We will attempt good faith negotiations. Failing that, either side may proceed with the arbitration or other available legal remedy as set out below. 

Agreement to Arbitrate

Arbitration

Except where Australian law mandates otherwise, you and AusBlock agree that disputes shall be resolved by binding individual arbitration in Sydney, Australia, under rules of an established arbitration body (e.g. the Australian Centre for International Commercial Arbitration). No class actions or representative proceedings are permitted unless required by law. 

Language

The arbitration shall be conducted in English. 

Survival

This arbitration agreement survives termination of these Terms.

Class action waiver

You and AusBlock agree to bring claims on an individual basis only, unless local law compels otherwise. Combining or consolidating multiple claimants’ matters is not permitted without AusBlock’s consent. 

GENERAL

General terms

Compliance With Law

You must follow all relevant Australian laws (and, if applicable, international laws) governing AML/CTF, consumer protection, data privacy, etc. 

Notices

We may notify you via email. You must follow the channels we specify for your notices to us. 

Announcements

Important updates and promotions appear on our official website: www.ausblock.com.au. It is your duty to stay informed. 

Entire Agreement

These Terms and any Product Terms constitute the entire agreement, superseding any prior statements. 

Assignment

You may not assign or transfer rights or obligations under these Terms without written consent from AusBlock; we may do so freely. 

Invalidity

If any section is ruled illegal or unenforceable, the remainder remains in force. 

Records

We may record communications (phone, email, etc.) as evidence. These remain ours exclusively. 

Language

If these Terms are translated, the English version controls in case of conflict. 

Third Party Rights

Only AusBlock Affiliates (not other third parties) can enforce rights under these Terms. 

Survival

Clauses intended by context to endure termination will survive. 

Relationship

AusBlock is not your agent or partner; no joint venture arises. 

Digital Assets

We log your Digital Assets in an internal ledger system; such ledger entries do not imply any specific “on-chain” segregation. 

Force Majeure

We are not liable for delays or failures due to events beyond our reasonable control (floods, wars, strikes, pandemics, etc.). 

No Waiver

Failure to exercise a right does not waive that right. 

Set-off

We may set off amounts you owe against your AusBlock balances. 

Privacy of Others

If you receive another user’s data, keep it confidential and use only as necessary for legitimate transaction-related reasons. 

Publication of Breaches

If you breach these Terms, AusBlock may publish details if necessary to protect other users, consistent with law. 

Death of Account Holder

If you die or become incapacitated, we may suspend your account. Representatives or beneficiaries must follow our verification steps to retrieve any assets. 

Tax

You alone must determine and meet any tax obligations. AusBlock may provide statements or withhold amounts if law requires. 

DEFINITIONS AND INTERPRETATION

General Interpretive Principles 

  • Headings and numbering are for convenience only and do not affect meaning. 
  • Words importing the singular include the plural and vice versa. 
  • Where we say “including,” it means “including but not limited to.” 
  • References to a document, law, or rule incorporate subsequent amendments unless otherwise stated. 
  • Any conflicts between these Terms, Product Terms, or the Privacy Policy should be resolved by the order of precedence: (1) Product Terms, (2) Privacy Policy, (3) these Terms. 

 Examples of Commonly Used Definitions 

  • “Account History”: The ledger or record of your transactions, balances, or other relevant account activities, including deposits, withdrawals, and trades. 
  • “Affiliate” or “AusBlock Affiliate”: Any entity controlling, controlled by, or under common control with AusBlock. For instance, a subsidiary that might handle payment processing or technology development. 
  • “AML/CTF Act”: Refers to Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), which imposes specific obligations on AusBlock to verify customer identities, monitor transactions, and report suspicious activities. 
  • “Digital Assets”: Digital representations of value or rights using distributed ledger technology, including cryptocurrencies, stablecoins, tokens, or non-fungible tokens (NFTs). For example, Bitcoin, Ether, USDT, or NFTs minted on a blockchain. 
  • “Fiat Currency”: Nationally issued currency, such as Australian dollars (AUD) or U.S. dollars (USD), that is recognised as legal tender. 
  • “Fork” or “Forked Digital Asset”: Removed from these Terms, as the user has requested not to address irrelevant content, but generally means a change in underlying blockchain rules that splits it into multiple versions. 
  • “Improper Intent”: Activities that may be actual or suspected market manipulation, artificially influencing prices, or exploiting system errors. For example, intentionally misusing a pricing glitch or coordinating “pump and dump” schemes. 
  • “Manifest Error”: An obvious and clear mistake or omission—for instance, a typographical price of $1 instead of $10,000 caused by a system glitch. 
  • “Prohibited Person” or “Restricted Person”: An individual or entity subject to trade embargoes, sanctions, or named on an official restricted list (e.g. the U.N. Security Council’s sanctions list) which bars them from using our services. 
  • “Security Breach”: The compromise of your account credentials or suspicious login indicating potential unauthorised use. 
  • “Supported Digital Assets”: Digital Assets explicitly recognised by AusBlock as depositable or withdrawable. 
  • “Transaction”: Any activity relating to Digital Assets in your account—like buying, selling, depositing, or sending tokens to external addresses. 

 Additional Key Interpretations 

  • The word “you” or “your” always refers to the individual or entity entering these Terms with AusBlock. 
  • The word “we,” “us,” or “our” refers to AusBlock and its Affiliates, collectively or singly as context demands. 
  • “Applicable Law” includes Australian statutes (e.g., the Corporations Act 2001, the Privacy Act 1988, the AML/CTF Act) and any relevant international laws or regulations that might apply due to your geographic location or usage of AusBlock services. 

You confirm that you have read these Terms fully, understand them, and agree to be bound by them. If you have any questions or concerns, or if you identify any potential conflicts between this document and the AusBlock Privacy Policy (13 March 2025), please contact: 

Email: [email protected]. 

We may periodically update this document to comply with relevant Australian or international law and maintain best practices, in which case updates will be posted on our website: www.ausblock.com.au 

Last Updated: 13 March 2025