2.1. Representations and Warranties of the User
By registering an account with Zelencio, you represent and warrant that:
Legal Capacity: You are an individual, at least 18 years of age (or the age of majority in your jurisdiction), and possess the full legal capacity to enter into this Agreement.
Authorized Use: You are the sole authorized user of the account and will not allow any third party to access or trade on your behalf.
Legal Status: You have not been previously suspended or removed from the Zelencio platform or any other digital asset exchange globally.
Source of Funds: All digital assets deposited or traded on the platform are legally owned by you and are not derived from illegal activities, including but not limited to money laundering, fraud, or terrorism financing.
2.2. Restricted Jurisdictions and Prohibited Persons
Zelencio operates as a global Virtual Asset Service Provider (VASP). However, we do not provide services to users residing in "Restricted Jurisdictions."
Geographic Restrictions: You warrant that you are not a resident of the United States, United Kingdom, or any country within the European Economic Area (EEA), unless specifically authorized by Zelencio under a localized license.
Sanctions Compliance: You represent that you are not on any international sanctions list, including those maintained by the UN Security Council, the Office of Foreign Assets Control (OFAC), or any equivalent regulatory body in Africa.
Consequences of Violation: If Zelencio detects that an account has been opened from a restricted region (via IP monitoring or KYC data), the account will be immediately suspended, and all assets will be frozen pending a legal review.
2.3. The Zelencio Tiered KYC Framework
To maintain platform security and comply with global regulatory standards, Zelencio employs a tiered Identity Verification (KYC) system. Every user must complete verification to access financial features.
Tier 1: Basic Verification (Phase 1)
Requirements: Full legal name, date of birth, gender, nationality, and a live capture of a government-verified ID (e.g., International Passport, Voter’s Card, or Driver’s License).
Biometric Requirement: Users must complete a "Liveness Check," including a selfie video and specific facial movements (smiling, blinking, head rotation) to ensure physical presence.
Operational Limits: Tier 1 users are subject to daily deposit limits (
10,000equivalent)andwithdrawallimits(
5,000 equivalent).
Tier 2: Advanced Verification (Phase 2)
Requirements: All Tier 1 data plus a verified "Proof of Residence" (e.g., utility bill or bank statement) issued within the last 90 days.
Operational Limits: Tier 2 users enjoy higher transaction thresholds ($50,000 daily deposit and $20,000 daily withdrawal).
Tier 3: Institutional/High-Volume Verification (Phase 3)
Requirements: All Tier 2 data plus a "Proof of Funds" declaration and potentially a physical verification of the user's primary residence or business location.
Operational Limits: Tier 3 provides the highest level of access, including unlimited balances and institutional-grade withdrawal limits ($10M+).
2.4. Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF)
Zelencio maintains a zero-tolerance policy regarding illicit financial activity.
Continuous Monitoring: Our security systems and AI-driven monitoring protocols scan all transactions 24/7. Any transaction that triggers a risk alert (e.g., rapid movement of large sums or interaction with flagged wallets) will result in an immediate temporary freeze.
Suspicious Activity Reports (SAR): Zelencio complies with the laws of the jurisdictions in which it operates. We reserve the right to file Suspicious Activity Reports with relevant authorities without notifying the user, as required by law.
Enhanced Due Diligence (EDD): If an account is flagged for high-risk behavior, Zelencio may require the user to provide additional documentation regarding the specific "Purpose of Transaction" or source of wealth.
2.5. Accuracy and Retention of Identity Data
User Duty to Update: You agree to provide accurate, current, and complete information during the KYC process. You must update your information within 48 hours if your legal name, residency, or citizenship status changes.
Data Retention: In accordance with global financial regulations, Zelencio will retain all KYC data, liveness recordings, and transaction logs for a period of no less than five (5) years following the closure of your account. This data is stored on encrypted third-party servers (e.g., Cloudinary for media) and is used solely for compliance and security purposes.