If you choose to use Circle's "EUROC Express" service as part of the Services, incoming financial institution fiat wires will transiently settle as EUROC in your Circle Account, and the corresponding EUROC amount will subsequently be sent from your Circle Account to the external wallet address of your choice. If you believe you did not authorize a particular transaction or that a transaction was incorrectly carried out, you must contact us as soon as possible by email at customer-support@circle.com. Hutchison toldWHBQthat someone faxed him a document earlier this month claiming to be an attorney in Canada named Manfred Whiteman. If we need to take more than ten (10) days to investigate your claim (or thirty (30) days for new accounts), we will provisionally credit your Circle Account with the amount of such Unauthorized Supported Digital Currency Transaction or Error. You also agree to provide us, when registering a Circle Account and on an ongoing basis, any additional information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime. For the purpose of exercising its rights under this Section 25: (i) Circle is entitled to convert and/or exchange any Supported Digital Currency owned by you and held by Circle, and is authorized to effect any such conversions at the then prevailing exchange rate; and (ii) if your liability is contingent and/or unliquidated, then Circle may set off the amount it estimates in good faith will be the liquidated amount. You may terminate this Agreement at any time by closing your Circle Account in accordance with this Agreement. WA Unclaimed Property For the avoidance of doubt, in the event your Circle Account is suspended or closed, you will no longer be able to access any of the Services. The information provided on this website or any third-party sites does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the website's content as such. The laws of the State of Delaware and applicable United States federal law, including the Federal Arbitration Action as specified herein, shall govern this Agreement. If Circle is holding funds in your Invest Account, and Circle is unable to contact you and has no record of your use of the Services for several years, applicable law may require Circle to report these funds as unclaimed property to the applicable jurisdiction. Many financial institutions are decentralized and offer a variety of products and services that transcend various business lines. Utah Department of Financial Institutions, Vermont Department of Financial Regulation, Virginia Money Order Seller and Money Transmitter License, MO-302, Virginia Bureau of Financial Institutions, Washington Money Transmitter, 550-MT-91117, Washington Department of Financial Institutions, Fraudulent transactions may result in the loss of your money with no recourse. Such access is subject to Circles review and approval, and such Additional Users agreement to all of the terms hereof. Circle is powering always-on internet-native commerce and payments and is the issuer of USD Coin (USDC) and Euro Coin (EUROC). Announced in July 2021, the proposed acquisition assigned a $4.5 billion valuation to Circle . While you may generally withdraw your Digital Currency by sending it to an external blockchain address at any time, your ability to do so is subject to outages and downtime of the Circle website and Circles policies. Work with a suite of Web3 developer tools designed to make building on blockchain easy. You permit us to keep a record of such information and authorize us to make the inquiries, whether directly or through third parties, that we consider necessary or desirable to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. Connecticut Money Transmission License MT-1201441 (NMLS ID: 1201441), Delaware Check Seller, Money Transmitter License, 019238, Delaware Office of the State Bank Commissioner, District of Columbia Money Transmitter License, MTR1201441, District of Columbia Department of Insurance, Securities and Banking. At the time, Circle hinted that the sluggishness was due to delays at the Securities and Exchange Commission (SEC). By accessing or using the Circle Account and Services, you further represent and warrant that: You also understand that there are additional representations and warranties made by you elsewhere in (or by reference in) this Agreement and that any misrepresentation by you is a violation of this Agreement. CIRCLE MAKES NO WARRANTY THAT (I) THE SERVICES WILL MEET YOUR REQUIREMENTS, (II) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, OR (III) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU WILL MEET YOUR EXPECTATIONS. We may be unable to terminate your Circle Account at your request if you maintain a balance in your Circle Account. the name and email associated with your Circle Account, a detailed description of what Unauthorized Supported Digital Currency Transaction or Error you believe occurred, or what information you need in order to determine if an Unauthorized Supported Digital Currency Transaction or Error occurred, and. We presumethat he is deceased but boy, just that name might have hooked me if I didn't know better.. Any bond or trust account maintained by Circle for the benefit of its customers may not be sufficient to cover all losses incurred by customers. Such actions may be taken as a result of account inactivity, failure to respond to customer support requests, failure to positively identify you, a court order, your violation of the terms of this Agreement or for other similar reasons. Circle will not provide periodic account statements to you. Circle provides access to hosted Digital Currency wallet(s) (Hosted Wallet). What Constitutes an Unauthorized Supported Digital Currency Transaction or Error? Do not use your Circle Account to attempt to receive, request, send, store, or engage in any other type of transaction or functionality involving any such protocol as Circle is not configured to detect, secure, or process these transactions and functionality. Nobody heard from him for years. Circle strives to provide accurate and reliable information and content on the Circle website, but such information may not always be correct, complete, or up to date. We recommend the regular use of a reliable virus and malware screening and prevention software. However, the net result was different. Please note that the license issued to Circle by the Maryland Department of Labor, Licensing and Regulation does not cover the exchange or transmission of virtual currency. In connection with your use of the Services, you hereby agree that you will not: In addition, using the Services for transactions related to the following is prohibited, and Circle reserves the right to monitor for transactions that relate to: In the event that Circle learns you are making or attempting any Restricted Activities or Prohibited Transactions, Circle will consider it to be a violation of this Agreement and may suspend or terminate your Circle Account. Circle (or its affiliates) may also offer treasury services Treasury Services under which qualifying Users can apply for certain yield services or products. C ircle Internet Financial, the primary issuer of the USD Coin cryptocurrency, is putting on a brave face following the collapse of its postponed $9 billion plan to go public via blank-check . Erroneously transmitted funds will be lost. Circle is licensed by the Tennessee Department of Financial Institutions as a money transmitter. Further evidence of your transactions will be available to you in your transaction history, as discussed above. For purposes of this Section 24, an Error means one of the following: (i) if your bank account is charged for an issuance of USDC or EUROC, Circle receives the funds, but the corresponding USDC or EUROC does not show up in your Circle Account, (ii) if you complete a redemption from USDC or EUROC and the funds are not properly delivered by Circle to your bank account, (iii) you transfer a Supported Digital Currency from your Circle Account to an external address and we debit your Circle Account for a Supported Digital Currency amount in excess of the sent amount, (iv) if you receive a Supported Digital Currency to your Circle Account and we do not add the proper amount to your Circle Account, (v) if the transaction records in your Circle Account do not accurately reflect your transactions, or (vi) there is some other material mathematical or computational error by Circle in calculating issuance or redemption amounts. to an evolving regulatory environment. The date or time when the transfer or exchange is made and your account is debited may differ from the date or time when you initiate the instruction to make the transfer or exchange. Circle reserves the right to change the deposit, withdrawal, storage, transfer, and velocity limits on your Circle Account as we deem necessary. Please note that the license issued to Circle by the Kentucky Department of Financial Institutions does not cover the exchange or transmission of virtual currency. Why Does The Government Have My Unclaimed Money? 1. Circle will make any tax withholdings or filings that we are required by law to make, but Circle is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction. Search for unclaimed money using a multi-state database. For the purpose of this Section 22, the term losses means all net costs reasonably incurred by us or the other persons referred to in this Section which are the result of the matters set out in this Section 22 and which may relate to any claims, demands, causes of action, debt, cost, expense or other liability, including reasonable legal fees (without duplication). This station is part of Cox Media Group Television. Additionally, you can deposit Bridged USDC from and withdraw Bridged USDC to a Supported L2 Blockchain via one of the Supported Bridges. Although USDC has weathered the collapse relatively well, with its market capitalization edging up to $43 billion from $42 billion, it could face valuation challenges if the downturn persists. Use stablecoin digital payments to send and receive funds globally. "Circle.com", "Circle", and all logos related to the Services are either trademarks, or registered marks of Circle or its licensors. Circle may also be forced to freeze and potentially surrender Supported Digital Currency in the event it receives a legal order from a valid government authority requiring it to do so. This Downtime will likely occur immediately upon a fork of a given Supported Digital Currency, potentially with little to no warning, and during this period of Downtime you will not be able to buy or sell the Digital Currency subject to such fork. Not all Supported Digital Currencies are available for use in, or are compatible with, all of our Services. USDC, Payments & Treasury Solutions for Business - Circle Most states cap that percentage at ten percent. Court Authorizes Service of John Doe Summons Seeking Identities of U.S Circle may also temporarily suspend access to your Circle Account in the event that a technical problem causes system outage or Circle Account errors until the problem is resolved. Unclaimed property is generally defined as a liability a company owes to an individual or entity when a debt or obligation remains outstanding after a specified period of time. ACCORDINGLY, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU. USDC-Specific Terms, Bridged USDC-Specific Terms and Euro Coin-Specific Terms, 12. Recently in Memphis, Tennessee a resident received communication from a lawyer in Canada claiming to help the individual recover unclaimed permanent life insurance from a deceased relative worth $10.6 million. Industry spotlight | Stablecoins for Banks & Fintechs - Circle Unauthorized and Incorrect Transactions, Unauthorized and Incorrect Supported Digital Currency Transactions. We each agree that the FAA, and not state law, shall govern whether a Dispute is subject to arbitration. When any transaction occurs using your credentials (including, but not limited to, Digital Currency Transfers), we will assume that you authorized such transaction, unless you notify us otherwise. Simply go toMissingMoney.comand type in your name to do a database search of available unclaimed funds across all states. Once a transaction has been initiated (including, but not limited to, a Digital Currency Transfer), it cannot be reversed or refunded, except as set forth in this Agreement. These companies will often contact you to assist in getting your money back. After first contacting Circle, if you still have an unresolved complaint regarding the company's regulated activity, please direct your complaint to: Division of Finance 200 E. Gaines StreetTallahassee, FL 32399-0376Toll-Free Number: 1-800-848-3792, NOTICE: By the Florida Office of Financial Regulation. This Agreement, including any additional agreement incorporated by reference herein; Circles policies governing the Services referenced herein (including, without limitation, those set forth in the USDC Terms, Bridged USDC Terms, and Euro Coin Terms); the Circle Privacy Policy; the Cookie Policy; and the E-Sign Consent Policy constitute the entire agreement between you and Circle with respect to the use of the Services. Circle provides EUROC-related services, which are described more fully in Section 11 and in the Euro Coin Terms. (Note: Not every state participates.). FAQs. Perhaps they died or moved without a forwarding address. I'm the director of Digital Asset Research at Forbes. To the extent that you choose to have Additional Users have access to the Circle Account, you will have to designate those Additional Users and manage their access to your account. We are committed to protecting your personal information and helping you understand exactly how your personal information is being used. If you do not provide such additional information, it may inhibit our ability to resolve your issue or limit your rights under this Section 24. Colorado Department of Regulatory Agencies Division of BankingFor Colorado Residents Only:Please note that the license issued to Circle by the Colorado Division of Banking does not cover the exchange or transmission of virtual currency. Circle continues our collaborative work with the SEC to complete the qualification process as we look forward to becoming a listed company. They were able to determine this was a fake due to the lawyer not existing in Canada as well as the website being registered a mere 30 days ago. All states offer free searching and claiming when it comes to the unclaimed cash and property they hold. For so long as you custody your Digital Currencies in a Hosted Wallet with Circle, Circle maintains control over the private keys associated with the blockchain addresses holding your Digital Currency. Except as expressly authorized by Circle, you agree not to modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the Services or the Platform, in whole or in part. If you have a complaint, or wish to report fraud or suspected fraud, please first contact Circle Support by contacting its phone number, (888) 762-4966, or by visiting the Circle Support Portal. If we have already provisionally credited your Circle Account and determine that your claim of an Unauthorized Supported Digital Currency Transaction or Error is valid and eligible, you will be allowed to keep such provisional credit. You acknowledge and agree that Circle is not responsible for the operation of any such protocols. the amount of such Unauthorized Supported Digital Currency Transaction or Error. In addition, please note the following disclosures associated with transactions with virtual currency: West Virginia Money Transmitter License, MT-1201441, West Virginia Division of Financial Institutions. The Maryland Department of Labor, Licensing and Regulation does not currently license or regulate services related to virtual currency including but not limited to transmission or exchange which may be conducted by Circle. However, as markets settled later into the summer and immediate fears about the solvency of Tether, which has never produced an audit, dissipated, USDC began to lose some of its momentum. In California, Circle Payments, LLC is licensed as a money transmitter (NMLS ID: 1415802; License Number 2549). Your funds go into escheatment when the owner has made no contact or activity generated for a period of time designated by state law. When any transaction occurs using your credentials, we will assume that you authorized such transaction, unless you notify us otherwise. This Section gives you specific legal rights and you may also have other legal rights that vary from state to state. USDC is supported on multiple blockchains, including, for example, on Ethereum as an ERC-20 token, on Algorand as an ASA token, on Solana as an SPL token, and on other blockchains as well (each, a USDC Supported Blockchain). We grant you a limited, non-exclusive, non-sublicensable, and non-transferable license, subject to the terms and conditions of this Agreement, to access and use the Services solely for approved purposes as determined by Circle. If we discover an Error on our own that results in you receiving less than the amount of US Dollar or euro funds (as applicable) to which you are entitled, we will rectify it by crediting your Circle Account with USDC or EUROC (as applicable) corresponding to the difference. Coinbase sued by Veritaseum over same patent in September (Reuters) - Cryptocurrency provider Circle Internet Financial Ltd was sued in Texas federal court on Thursday by another crypto. The failure of Circle to exercise or enforce any right or provision of the Agreement shall not constitute a waiver of such right or provision. Circle will update the information on the Circle website as necessary to provide you with the most up to date information, but you should always independently verify such information. The IRS is seeking the records of Americans who engaged in business with or through Circle, a digital currency exchanger headquartered in Boston. Circle Internet Financial, LLC - About Circle reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law. We are not responsible for any losses, whether direct or indirect, that you may incur as a result of our complying with applicable law and regulations, the guidance or direction of any regulatory authority or government agency, or any writ of attachment, lien, levy, subpoena, warrant, or other legal order. You unequivocally agree and understand that by registering a Circle Account and using the Services in any capacity, you will act in compliance with and be legally bound by this Agreement and all applicable laws and regulations (including, without limitation, those stated in this Section 35, where applicable). Digital assets do not typically have legal tender Likewise, EUROC is supported on certain blockchains (EUROC Supported Blockchains). Additionally, certain of these states have required specific disclosures of this fact, which can be found below and/or on the Licenses page found here. As noted in Section 2, your Circle Account only supports Supported Digital Currencies. Companies in the U.S. are obliged to give assets that they believe are abandoned to the U.S. state governments. Circle neither owns nor controls the underlying software protocols that govern the operation of Supported Digital Currencies other than USDC or EUROC, which is described more fully in the USDC Terms and Euro Coin Terms. Additionally, you may choose to have incoming fiat wires settle as USDC in your Circle Account and be bridged to a Supported L2 Network and withdrawn as Bridged USDC to the external wallet address of your choice. That's generally bank accounts, life insurance policies, dividend checks," he said. Circle provides Bridged USDC-related services, which are described more fully in Section 11 and in the Bridged USDC Terms. How to Find Unclaimed Money That Belongs to You - Prudential Financial You are responsible for all such fees. After first contacting Circle, if you still have an unresolved complaint regarding the company's regulated activity, please direct your complaint to:Washington Department of Financial InstitutionsFile a complaint online, mail, or fax: https://dfi.wa.gov/file-complaint, Call: (360) 902-8703 or 1-877-RING DFI (1-877-746-4334). When you or a third party sends Digital Currency to a Hosted Wallet from an external wallet not hosted on Circle (Inbound Transfers), the person initiating the transfer is solely responsible for executing the transaction properly, which may include, among other things, payment of sufficient network or miners fees in order for the transaction to be successful. Circle will maintain a record of your transaction history, which you will be able to access through your Circle Account for purposes of making any required tax filings or payments, but it is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority. Class Action Lawsuit Filed Challenging Floridas Unclaimed Money Law. In the event that Circle is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.
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