Gemini User Agreement

In the filing agreement filed with the SEC for the Grayscale Bitcoin Trust, it is stated that „Trust Company (Coinbase Custody) is an agent pursuant to Section 100 of the New York Banking Act and a qualified custodian within the meaning of Rule 206(4)(d)(6) of the Investment Advisers Act of 1940, as amended, and is authorized, the client`s digital assets are held in trust on behalf of the client.“ The agreement between Coinbase Custody and Grayscale also highlights the fact that Coinbase Custody is just a trustee who holds bitcoin and grayscale, as a customer, remains the owner of the assets at all times. This is important to understand, as Coinbase Custody is incorporated as a trust company in New York and acts as a trustee with Grayscale in exercising its fiduciary powers. The signs are posted at the front desk of Coinbase Inc.`s office in San Francisco, California. [+] United States, Friday, December 1, 2017. Coinbase wants to use digital money to reinvent finance. In the future version of the company, credit, venture capital, money transfer, receivables and trading shares in e-money can be done using Coinbase instead of banks. Photographer: Michael Short/Bloomberg You cannot receive money in your account from anyone other than you. Any funds you receive from a sender other than yourself are considered unauthorized. We reserve the right to examine the origin of the funds in your account and determine, in our sole discretion, how to manage their decision. After checking all the funds in question and the circumstances in which you received them, we can see that you are not the owner of these funds.

If such a decision is made, we reserve the right to sell such funds in accordance with applicable laws and regulations and at our sole discretion, which may include returning to the destination of their origin or to a charity of our choice. Always. Don`t leave anything on an exchange that would have wiped you out. I keep 10% in a liquid access exchange. The rest is kept away from contact. Even then, I`m not sure I`ll leave that many percent. A spokesperson for Coinbase Custody said: „As you can see on our website, we declare that we are a qualified custodian (here). It may be useful to take a few steps back and understand that the requirements for a „qualified depositary“ are set out in the Investment Company Act 1940 as amended („1940 Act“) and the Investment Advisers Act 1940, as amended (the Advisers Act). Based on the definition of a „qualified custodian“, as provided by the 1940 Act and the Consultants Act, we believe that Coinbase Custody is a qualified custodian and meets the definition of a qualified custodian according to the definitions defined in each of the Investment Advisors and Investment Companies Acts. „To me, it looks professional….

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