Legal
LUXOLO Financial Legal
Regulatory
LUXOLO Financial (“LUXOLO”) is a regulated money service business (“MSB”). We’re registered with the US Department of Treasury FinCEN Division as MSB #31000211839578, and we follow rules on a state-by-state basis regarding money exchanges with customers. Our NMLS number is 2356614.
AML POLICY
To allegedly help fight money laundering and terrorism financing, the government requires MSB’s such as LUXOLO to develop, implement and maintain an Anti-Money Laundering (“AML”) Policy per the US Bank Secrecy Act 31 USC 5311, pub. 1982, rev. 2001, the USA Patriot Act of 2001 and certain other applicable regulations. Our AML Policy contains our policies and procedures regarding customer identification, privacy, risk management, record keeping and reporting. We welcome our regulators to review this document and can provide it upon request from such qualified agencies.
Exchange Disclaimer
The following Terms and Conditions are an agreement between you and LUXOLO Financial (“LUXOLO”) regarding use of the company’s cryptocurrency automated teller machine (“ATM”) or LUXOLO’s exchange desk. By conducting a transaction, you acknowledge you have read, understand and are bound by these Terms and Conditions.
1) USE; ACCEPTABLE FUNDS: This ATM will accept US Dollar funds from you in $100 denominations only in exchange for either Bitcoin or Litecoin cryptocurrency directly from LUXOLO. This machine will neither buy your cryptocurrency nor dispense any cash.
2) DELIVERY OF EXCHANGED CURRENCY: The exchange will be made at the market unit price displayed on the screen at the time of exchange, including LUXOLO’s exchange fee(s). The transaction will be broadcast and you will receive your funds immediately on your selected wallet, subject to network confirmation which may take several minutes or more depending on the respective network mempool queue.
3) NOT A FIDUCIARY: LUXOLO is neither a bank, financial advisor nor fiduciary to you, and has not provided any advise or otherwise compelled you to conduct this transaction. LUXOLO does not make any warranties or representations as to the investment suitability, or current or future value of the currency delivered to you in this transaction.
4) LIMITATION OF LIABILITY: Under no circumstances shall LUXOLO be liable for damages should you lose or misplace your exchange funded wallet, if the exchanged currency value should fluctuate or decrease, or for any other subsequent use or misuse of this exchanged currency. For detailed recommendations regarding best practices for wallet storage, see the section entitled How to Store Bitcoin on our page How to Bitcoin, along with numerous other third party websites discussing this important topic.
5) ANTI MONEY LAUNDERING LAWS; PRIVACY: To help fight money laundering and terrorism financing, federal laws require LUXOLO to maintain certain transactional controls. You hereby warranty and represent that the funds you are exchanging are i) obtained legally, ii) are for your own use, and iii) will not be used in connection with a money laundering scheme, terrorism financing or other illegal purpose. LUXOLO will gather certain identity and other information from you in connection with this exchange transaction, including your mobile telephone number. We may be required to submit this information to the government as part of our routine reporting to FinCEN, the enforcement division of the Department of the Treasury. Under no circumstances will we sell or share your identity or information to a 3rd party for any commercial or marketing purposes.
LUXOLO is a registered Money Service Business and Money Transmitter in the United States and Maine, respectively. FinCEN registrant #31000115857440 and Maine Money Transmitter #MD1510