Legal
Digital asset risk disclosure
The risks of holding and converting digital assets, stated plainly. Read this before using any digital asset service.
This document is being prepared by legal counsel.
We are not publishing placeholder legal text in the meantime, because a document you cannot rely on is worse than one that is openly still in progress. The outline below is what it will cover. It will be published, with a version and an effective date, before the service accepts customers.
What this document will cover
- Price volatility, and the fact that you can lose money
- Irreversibility of blockchain transactions
- Network risk, including congestion, forks and failed transfers
- The absence of deposit insurance for digital assets
- Custody risk and the limits of any protection
- Regulatory change, and how it can affect availability of services
- Liquidity risk during periods of market stress
Questions about this document, or need it for a diligence process? compliance@nomospay.com