Premises

Dear User, by accepting these Terms and Conditions, you declare to:

• be aware that this contract defines the general terms and conditions of use of the services provided by Young Platform S.p.A. (hereinafter “Terms and Conditions”) to its Users through the Young Platform product (for convenience hereinafter referred to as the “Application”) better specified in detail below; 
• be aware that such services are those exclusively referable to the domain youngplatform.com (hereinafter the “Site“) to which the mobile platform of the same name is connected (the Site and the platform collectively referred to as the “Platforms“); and, furthermore, that such services are also accessible through Authorised Distributors in the manner set forth herein and only if the Authorised Distributors are present on the following page (https://youngplatform.com/legal/authorised-distributor/);
• be aware that, unless access is made through Authorised Distributor platforms, fully entering the data required in the registration form (“Form”) and signing it electronically (through the appropriate button called “Register”) is equivalent to contractual acceptance of this document and the Annexes;
• have read and accept, without reservation, all the provisions and clauses set forth in this document, fully set out below.
• having read, understood and accepted, by signing this Agreement, the General Risk Disclosure Statement (available at the following link: https://youngplatform.com/legal/information-general-risks/) which sets out in a general manner the risks associated with the product offered by Young Platform and the crypto-asset industry (described below).

It is understood that, for the purposes of this contract, these Terms and Conditions include any note, legal notice, information or disclaimer, including the Privacy Policy and Cookie Policy, published on the Platforms, as well as the terms referred to through  links to this document.

Definitions

In addition to the terms defined elsewhere in these Terms and Conditions, the terms listed below shall have the meaning attributed to each of them:

‘Access Codes’ or ‘Credentials’: the username and password assigned to the User when they join the Registration Service and managed by Young Platform or, if the User uses Third-Party Access Codes, by the third party that provides them.

‘Annexes’ means any note, legal notice, information notice or disclaimer, manual, guide or other document, whether considered together or not, provided to the User through the Platform and/or accessible from the Website, which shall be deemed to form an integral and substantial part of these Terms and Conditions including, without limitation, the following: Privacy Policy and Cookie Policy (youngplatform.com/legal/privacy-policy), AML Policy (youngplatform.com/legal/aml-policy), Commissions and Pricing Base ( youngplatform.com/legal/fees), Commissions and Prices Pro (pro.youngplatform.com/fees), Earning Wallet terms and conditions, Young Platform App terms and conditions, Young Platform Step terms and conditions, Gift Card terms and conditions.

‘AML’: Abbreviation used to identify anti-money laundering legislation.

‘Applications’: artefacts composed of Software and Content that Users use on their devices, and that enable Users to use the Services on certain configurations of certain devices.

Authorised Distributor(s): identifies the entities authorised to distribute all or part of the Services provided by Young Platform. Some of the features related to the Services accessible through an Authorised Distributor may be limited and/or unavailable. The list of Authorised Distributors is available at the following link: https://youngplatform.com/legal/authorised-distributor/. Only Distributors on the list are validly authorised by Young Platform.

“Bonus Wallet“: section in the app or desktop version dedicated to bonuses and all promotions that are active or will be activated in the future. The amounts in the Bonus Wallet cannot be withdrawn by the Users under any circumstances, but can only be used to cover certain costs and/or commissions applied by Young on specific products and/or services. Bonuses and promotions may have a temporary duration; it is therefore necessary for Users to carefully consult the terms and conditions of each promotion (always available at the following link: https://youngplatform.com/en/legal/).

“Club Young” or “Club“: a service included in the Company’s loyalty programme, which provides for the presence of different types of clubs to which Users may subscribe in return for receiving additional benefits and rewards dedicated and diversified according to the club selected.

‘Content’: text, images, audio and/or video recordings, data and/or information, including personal data, in any format (file or other byte sequence) that are transmitted, copied, sent and/or otherwise processed by Users using the Services or by Young and/or otherwise made available to Users. Each piece of Content will also be referred to as ‘Content’.

‘Cryptocurrencies’ , ‘crypto-assets’ or ‘Tokens’: mean “Virtual Currencies” as defined in Article 3(18) of Directive (EU) 2015/849, as amended by Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018, i.e. the digital representation of value, not issued by a central bank or by a public authority, not necessarily linked to a currency with legal tender status, not having the legal status of currency or money, but, in any case, used as a means of exchange for the purchase of goods and services and transferred, stored and traded electronically, based on blockchain technology. The Cryptocurrencies that can be purchased, sold or converted on the Platform are exclusively those supported by the latter and communicated to the User by Young Platform in a dedicated section of the Site (which is constantly updated by adding new Cryptocurrencies and removing those no longer processed) available at: youngplatform.com/legal/fees .

‘Fees and Prices’: means the fees due to Young Platform for the services provided through the Platform, charged to the User in the form of fees determined in the terms and manner indicated in the document forming an integral and substantial part of these Terms and Conditions, available in the appropriate section “Fees and Prices” of the Site at the addresses: youngplatform.com/legal/fees .

‘FIAT Currencies’: means the currencies with legal tender status and legal status of currency, or of inconvertible paper currency, generally accepted as a means of payment as it is declared to be legal tender (also called forced) by the issuing State, regardless of its intrinsic value.

‘Gift Card’: means a voucher issued by the Company on the User’s mandate, represented by a unique code/identifier on any physical or digital medium in the manner set out in the Gift Card Terms and Conditions.

‘In-App Purchase Functionality‘: a functionality made available through the Play Store and Apple Store within the Young Platform Mobile Application, which allows users to purchase or subscribe to individual Services and/or Tools offered by Young Platform. To find out how the Play Store and Apple Store work, please refer to the following links respectively: https://support.google.com/googleplay/answer/1061913?hl=en and https://developer.apple.com/in-app-purchase/.

‘Interfaces’: interfaces (web, Applications or other) operating on certain configurations of certain devices through which Users can use the Services by connecting to the Resources through the internet. Each of the Interfaces will also be referred to as ‘Interface’.

‘KYC’: Know Your Customer procedure, i.e. verification of the identity, truthfulness and correctness of the data entered by the User during Registration.

‘Order’: means the instruction entered into the Platform, by the User, relating to transactions involving the purchase, sale or exchange of Fiat Currencies or Cryptocurrencies.

‘PEP’ means “politically exposed persons”, as provided for in Article 1 (2)(o) of Italian Legislative Decree 231/2007.

‘Privacy Policy’: privacy policy that the User approves before using the Services that involve processing their personal data.

‘Profile’ or ‘Account’: means the personal profile created by each User in the specific “Profile” section following registration, and associated with their personal data and email address. Each User may have only one personal profile linked to their identity.

‘Registration’: the registration process that the User must carry out in order to access the Service and the User Area. This process is analytically described in the “Registration” section of this document.

‘Reward’ and ‘Referral’, benefits specifically indicated in the User Area and commensurate with the User’s activities within the gamification logic and/or following alerts or recommendations to third parties to contact the Company due to the quality and performance of its products and services.

‘Resources’: hardware, Software and Content appropriately configured by Young and accessible through the internet using the interfaces that make the Services available.

‘Services’: means the services provided remotely to the User by Young Platform, i.e. usable through the Platform, consisting in the execution of purchase or sale orders given by the User and relating to Cryptocurrencies or currencies with legal tender status, according to the methods indicated on the Exchange.

‘Software’: any set of instructions (programs and/or data) that can be interpreted by a computer to direct the operation of its processor.

‘Sites’: means the site owned by the Company accessible at youngplatform.com/ and all related subdomains, including Academy, basic platform and PRO platform, considered indiscriminately.

‘Third-Party Access Codes’: username and password managed by a third party that makes functionalities available allowing these usernames and passwords to be used via the Interfaces to be identified by Young Platform using the Registration Service.

‘Tools’: identifies some specific services which the User can access only after having previously signed specific contractual conditions. Failure to use and/or accept the terms and conditions of each tool does not affect the ability to use the basic services. 

‘User(s)’: means cumulatively and indiscriminately: (i) all parties who browse the Sites and/or who otherwise browse the Platforms, regardless of whether they are registered or not; and also (ii) any natural and/or legal person, registered on the Young Platform Application, who uses the Services via the Platforms. It is understood that natural persons must be at least 18 years of age to register on the Platform and/or use the Services.

‘User Area’: the environment where the User can consult the Resources functional to providing the Services. This User Area can be accessed exclusively by the User using the Access Codes.

‘Upload’: using the Interfaces to transfer User Content to Resources from a device or storage area available to a User.

‘Virtual IBAN‘: Virtual IBANs allow one or more unique identifiers to be associated with an account, which the company itself can use, in addition to the IBAN of the account itself, for the purpose of reconciling transfers, remittances and other customer transactions. Amounts received from customers through Virtual IBANs will be credited and booked to the account. Virtual IBANs comply with the International Bank Account Number standard and do not determine the existence of an autonomous current or payment account but represent an alias of the account with which they are associated.

‘Wallet’: means the wallet present in the Young Platform Application and belonging to each Registered User, because it is associated with their User Area. This Wallet is needed to use the Services and specific for the custody of Cryptocurrencies.

‘YNG’ or ‘Young Token’: utility token issued by the Company within the terms provided and indicated by it within specific sections that can be consulted on the Platforms.

‘Young Platform’ or ‘Company’ or ‘Young’: mean Young Platform S.p.A., with registered office at Via Francesco Cigna 96/17, Turin (TO), postcode 10155 VAT No. 11931440017, in the person of its legal representative pro tempore.

‘Young Platform Application’: identifies both the web platform and the mobile app called “Young Platform” accessible exclusively from the domain youngplatform.com and/or through the mobile app of the same name (which differs from the Young Platform Step Application due to the absence of the word “Step”) and/or through access to the web platform for experts “Young Platform Pro” pro.youngplatform.com. 

‘Young Platform Step Application’: identifies both the web platform and the mobile app called “Young Platform Step” accessible exclusively from the domain step.youngplatform.com/ and/or through the mobile app of the same name (which differs from the Young Platform Application due to the presence of the word “Step”). 

Subject matter 

This Contract relates to the provision of the Services as per Article 4 to the User via the opening of their Profile.

In order to use the Services, the User must access their reserved area on the Platform, after completing the Registration, Verification and Activation process referred to in Article 4 of this document. . During the Registration phase, the User will receive a personal username and password, i.e. the Credentials that must always be used to access the Services, regardless of the Platform used (or some of the Sites or the Mobile App). If the User accesses the Services through an Authorised Distributor, the Registration, Verification and Activation process may have customisations that do not affect the operation of the Customers, the processing of personal data and the relationship of each Customer with Young Platform.

The Services are offered together with at least one Banking Service that the User must identify to third parties in order to carry out the Wallet activation transfer. 

The amounts deducted and/or transferred, both representing FIAT Currencies and Cryptocurrencies, involve a commitment by Young Platform to return the final value as reported on the Platform and not a commitment to return the FIAT currency or the Cryptocurrency transferred to the Platform itself.

The effectiveness of this contract is, therefore, subject to the User making at least one payment into the Wallet itself and correctly completing the form pursuant to Article 3 below.

Third-party services are not governed by these Terms and Conditions. 

These contractual conditions are available on the Platform, together with any other information on the Services required by applicable law. 

Registration, Confirmation, Verification and Activation

4.1 Registration

To access the Services, the User must complete the Registration process on the Application, then create their own Profile. In this regard, when filling out the appropriate Form during Registration, the User will be required to enter some or all of the following data: 

• personal data;
• current and demonstrable residential address;
• copy of identity documents (tax code and identity card/passport or driving licence);
• residence permit;
• company data/registered office/VAT number/company email;
• personal data of the legal representative and tax code;
• billing data and certified email address;
• proof of residence and/or historical certificate of residence;
• mobile number of the account holder;
• company’s Chamber of Commerce extract, in the case of a legal entity;
• politically exposed person and/or family member of politically exposed persons (PEP);
• employment status, income and origin of funds;
• Credentials, i.e. email and password in order to access the personal/company profile.

Users will be solely responsible for the truthfulness and updating of this information for the duration of the relationship with Young Platform.

Through Registration for the Service, the User agrees to Young Platform sending information by email and/or SMS to facilitate the use of the Service. 

As far as Registration by legal persons is concerned, the aforementioned data will be requested from the legal representative, with the Company reserving the right to request further information from the latter also by means of email communications and/or filling in ad hoc forms.

4.2 Activation

The Company reserves the right to refuse the Registration of a User if it is reasonable to believe that they will not comply with the Terms and Conditions and/or the Annexes, or also if irregularities and/or inconsistencies are found during the Registration phase preceding verification, as defined below.

If no formal irregularities and/or inconsistencies are found at the end of the Registration phase, Young Platform will send the User an email confirming Registration (the “Confirmation Notification”). 

The Confirmation Notification will contain a link that the User must click to confirm their email, thus obtaining access to the Platforms to proceed with the use of the connected Services. 

It is understood that before the Confirmation Notification, the Company reserves the right to decide at its own discretion whether to definitively accept and, therefore, authorise the contractual relationship with the applicant only after successful verification of the truthfulness and correctness of the data entered during Registration, or the KYC procedure (the “Verification”). At the end of the Verification phase, Young Platform will therefore notify the User, via the Confirmation Notification, of the activation of the Services (the “Activation”).

Following the Activation, the reclaimed funds are at the full disposal and responsibility of the Company within the limits of the provisions of Articles 7 and 8 below, which are an integral and essential part of the services referred to in Article 5, and do not enjoy the protections provided by the Deposit Guarantee Scheme or the segregation purposes provided for by the Applicable Regulations.

It is understood that the foregoing may be subject to customisation if access is made through Authorised Distributors.

4.3 Credentials

The Credentials created by the User are valid for access on the Young Platform and Young Platform Pro Platforms. It is understood that the foregoing may be subject to customisation if access is made through Authorised Distributors.

The User must always use the Credentials they choose during Registration to access the Platforms and use the Services. The User is required to maintain the secrecy and security of their Credentials and, likewise, may not, under any circumstances, access the Profile of third parties.

The User may not communicate their Credentials to third parties and is responsible for maintaining the confidentiality of the information relating to their Profile, in particular, the Credentials. The parties mutually acknowledge that the User is exclusively responsible for managing any data or, in any case, any request from Young Platform, or mechanism, or validation tool, or double authentication, or similar, aimed at allowing remote identification of the User and aimed at preventing any form of unauthorised access to the account.

If the Credentials are compromised, the User is required to promptly notify Young Platform by writing to [email protected], in order to suspend the Account and avoid unauthorised transactions.

As a result, the User assumes the obligation to bear any risk, prejudice, negligence, error, damage, cost or burden, none excluded, that Young Platform may suffer due to the User’s inadequate custody and storage of the Credentials owing to improper or negligent use of any data, or in any case, at any request of Young Platform or validation mechanism or tool or double authentication or similar.

Users also undertake to promptly update the data provided during Registration in the event of subsequent changes and variations.

It is understood that Young Platform cannot be held responsible for any losses of Cryptocurrencies and/or FIAT Currencies caused directly or indirectly by the loss of Credentials and/or sharing of Credentials with third parties.

4.4 Rules of conduct and commitments of the Parties

With the Activation of the Services, both the Company and the User, to the extent of their competence (always taking into account whether they are a natural or legal person), undertake to:

• adopt any and all security measures required by law, which are suitable to ensure the physical and logical protection and security of their documents, data and/or information and, in general, of their computer system;
• operate in compliance with the provisions of the law on the protection of safety in the workplace (Italian Legislative Decree 81/08 and subsequent amendments and additions), protection of personal data (Italian Legislative Decree 196/03 and subsequent amendments and additions, as well as EU Regulation 2016/679 – hereinafter “GDPR”), civil and criminal protection of programs, data, computer systems, electronic communications and databases, and to supervise the work of their appointees;
• carry out any communication to the competent tax and administrative authorities that may be required in consideration of the digital storage of the indicated documents relating or connected to the Services and this document;
• fulfil and comply with all regulatory and European obligations regarding the reporting of suspicious money laundering and/or terrorist financing activities.

The use of the Service is allowed only to the registered User. The User undertakes not to transfer their Credentials to third parties and will be responsible for their secrecy. In this regard, Young Platform cannot be held responsible for any damage and/or loss caused by the loss and/or reckless sharing of the Credentials with unauthorized third parties. In this regard, please note that the Young Platform team will never be able to request a copy of the Credentials, particularly the password. In no case will we contact customers by telephone to carry out transactions on their behalf and/or to recommend investments of any kind. Users are asked to report any non-conforming behavior.

Young Platform Services and Platform Usage

5.1 Elements of the Services

The Services are offered to the User through the Platform in Italian and may also be available in English and French. The User undertakes to periodically check the instructions and regulations relating to the use of the Platforms and Services, as published on the website youngplatform.com/, and accepts, as of now, any technical updates adopted unilaterally by Young Platform and made available on the Sites. 

5.2 Description of the Services

As regards the individual Tools, when requested, the User must first accept the terms and conditions related to the individual service in order to proceed with the activation. It is understood that failure to accept the contractual conditions connected to each of the Tools will make it impossible to use the connected service.

In order to benefit from some specific Services and/or Tools, the In-App Purchase Functionality is made available within the Young Platform mobile Application as a unique or alternative way of access. To check which Services and/or Tools include the In-App Purchase Functionality and how to access them, please refer to the specific terms and conditions related to each single service, available on the Website at the following link: https://youngplatform.com/en/legal/.

In order to access the features connected to the Services, the User must register correctly on the Platforms. It is understood that if the User does not complete the Registration process, they will not be able to access the Services. 

Once the Verification of the User’s account has been completed, by accessing the Platforms, they will be able to:

• deposit in FIAT Currencies a minimum of €20.00 (twenty/00) in their account. The deposit can be made through one of the payment systems accepted by Young Platform and can be consulted using this link.;
• deposit/withdraw Cryptocurrencies in their Wallet, by selecting the Cryptocurrency in which they intend to deposit/withdraw (e.g. BTC) and copying the wallet address present and/or using the associated QR code. NB:  check the deposit information using the following links: deposits and withdrawals. ; 
• buy/sell Cryptocurrencies with FIAT Currencies in their Wallet. For information on the Cryptocurrencies that can be purchased on Young Platform and Young Platform Pro, see the following links: buying and selling. It is understood that the list of available Cryptocurrencies may change due to specific arrangements with Authorised Distributors and therefore, if the currencies you are interested in are not on the agreed list, those Cryptocurrencies cannot be purchased ;
• convert their own Cryptocurrencies held in the Wallet into other Cryptocurrencies of a different nature (provided they are present on the Platform) see the following link;
• consult the market data in the “Market” section with all the Tokens available (depending on the Platform used), and consult more information regarding the individual Cryptocurrency in question see the following link;
• consult their Wallet which lists the Cryptocurrencies and FIAT Currencies they own. For more information on the Wallet, see the following link ;
• consult educational material and/or news from the market in the “Homepage” and “markets” section see the following link;
• consult their Personal Profile with the information provided during Registration. In this section, it will also be possible to connect the Young Platform Application with the Young Platform Step Application and/or with Satispay, and to implement additional security systems such as “authenticator”, biometric recognition and PIN/password change. In this section, it will always be possible to consult these Terms and Conditions as well as their Annexes at the following link.  In the case of access through Authorised Distributors, this will be customised according to the distributor.
• avail of the bonuses and promotions available in the Bonus Wallet section in the app or desktop version, including: 
  • the welcome bonus (the rules of which are available at the following link: https://youngplatform.com/en/legal/program-regulations-welcome-bonus/) and any further temporary promotions; 
  • active referral bonuses (such as the Friends 5 bonus, whose regulations are available at the following link: https://youngplatform.com/en/legal/program-regulations-invite-friends-bonus/ and any additional temporary promotions);
  • various benefits and rewards for Club members, available at the following link https://youngplatform.com/en/token-yng/clubs/, including but not limited to the crediting of costs incurred on deposits (see the blog to find out how they work: https://youngplatform.com/en/blog/)

5.3 Third-party software

The Company’s objectives include the distribution and dissemination of decentralized technologies, as well as their integration with software that facilitates their use. Consequently, in a suitable section of the website, and subject to the subscription of specific terms and conditions as necessary, the Company makes available certain services to third parties. In this regard, Young Platform cannot be held responsible for any disruptions caused by such third parties as this is not in Young’s direct domain and control. However, please report any issues at support.youngplatform.com/hc/en-us/requests/new

5.4 Auxiliary Services

For the performance of all activities necessary, useful, or functional to the preparation, management, provision, and delivery of Services, the Company relies on partners, employees, and/or trusted collaborators. Additionally, some of the services offered on the Platforms are comprised of technological components, including those from third parties, as exemplified by implementing the Satispay software among the connectable accounts.

Fees and Prices

Through the Platforms, Users may proceed to purchase the Services offered by Young Platform, paying for them directly at the time of the Order through the methods indicated, accepted and published within the Platform.

The type and extent of Fees and Prices, unless access is made through Authorised Distributors (in which case Commissions and Prices will be available on the Authorised Distributors’ platform), are identified in the document available at : 

• youngplatform.com/legal/fees

It is understood that Fees and Prices may be subject to customisation (always available on the website/platform of the Authorised Distributor of reference) if access is made through Authorised Distributors.

Orders  

The following applies if the User uses the Services to buy and sell Cryptocurrencies for FIAT Currencies or vice versa, or to exchange Cryptocurrencies for another form of Cryptocurrency. 

7.1 Authorisation

When placing a new Order through the Services, the User authorises Young Platform to execute a transaction in accordance with that Order and to charge them any applicable costs (as described in the “Fees and Prices” section).

7.2 Relationship of independence

The User acknowledges and accepts that:

• the Company does not act as a broker, intermediary, agent or consultant or as a trustee;
• no communication or information provided by Young Platform shall be considered or construed as investment advice, financial advice, business advice or any other type of advice;
• all operations are performed automatically, based on the parameters and instructions of the Order requested by the User and in accordance with the Services offered to the User;
• the User is solely responsible for determining the parameters and instructions of an Order;
• the User is aware of the possible risk of loss of the total holdings on his/her Wallet that may arise from the purchase, sale or holding of Cryptocurrencies and, further, that such risk is solely dependent on his/her decisions regarding such transactions in Cryptocurrencies and/or otherwise through the Services;
• Young Platform does not recommend the purchase, sale or possession of any Cryptocurrency. Before pursuing any of the above transactions, the User should conduct their own analysis (or “due diligence”) to evaluate all aspects of the Cryptocurrency they wish to buy, sell or hold;
• Young Platform will not be held responsible for decisions that the User makes on the purchase, sale or possession of Cryptocurrencies based on the information provided by the Company.

7.3 Exchange confirmation

Once the User has placed an Order through the Platform, a confirmation regarding the details of the sale will be made available electronically. The User acknowledges and agrees that the absence of such confirmation on the Platform will not affect or invalidate the terms of such Order.

7.4 Exchange rates

Whereas the User acknowledges and agrees that the exchange rate information made available through the Services may differ from the exchange rates made available through sources outside the Services, the Company undertakes to carry out the Orders given by Users without guarantee of execution, on a commercially reasonable basis, bound by the market conditions available over time.

7.5 Market volatility

Particularly during periods of high volume, illiquidity, rapid movements or market volatility for any Cryptocurrency or FIAT Currency with legal tender status, the effective exchange rate at which an Order is executed by the Platform may be different from the exchange rate indicated above, at the time when the User sends the Order. The User understands that the Company is not responsible for such price fluctuations. In the event of a market disruption or force majeure event, Young Platform may do one or more of the following: (a) suspend access to the Services: or (b) prevent completion of any action through the Services, including the closure of any open Order. The User acknowledges that, following a disruption or force majeure event, the effective exchange rates at which Orders are executed may differ significantly from the rates indicated above in such circumstances. It is understood that in this case, Young Platform will not be liable for any compensation and/or reimbursement.

Risk Disclosure

8.1 Risks of Buying and Selling

The User acknowledges and agrees to access and use the Services at their own risk. There can be a substantial risk of loss in the purchase and sale of Cryptocurrencies and/or FIAT Currencies. The User must therefore carefully assess whether this operation is suitable for their situation, in light of their circumstances and financial resources. 

The User must also be aware of the following points:

1. they may suffer a total loss of funds in their Wallet;
2. under certain market conditions, it may be difficult or impossible to execute an Order. This can happen, for example, when there is insufficient liquidity on the market or in the Platform’s order-book;
3. the inclusion of contingent orders, such as “stop-loss” or “stop-limit” orders as defined in detail at
   this link, will not necessarily limit the User’s losses to the expected amounts according to the exchange rate indicated by the User as a parameter in the Order, since market conditions could make it impossible to execute the order itself;
4. all transactions with Cryptocurrencies involve a risk, and a “market” position cannot be less risky than a “long” or “short” position;
5. in no way can Young Platform be held liable to the User for losses and/or other damages, except in cases of wilful misconduct. In any case, if it is held liable, this liability may not, in any case, exceed the value of the FIAT Currencies or Cryptocurrencies deposited by the User in their account, so that any damage suffered by the User is limited to a value not exceeding the deposits in the Wallet, and therefore net of transactions carried out.

8.2 Risks Arising from Third-Party Software and Activities

The platform incorporates software and services from third parties, including, by way of example, services distributed on the marketplace and payment services (e.g., Aelium and Satispay). Young ensures that such services are carried out in the best manner possible with the necessary expertise and attention.

Given this premise, Users expressly indemnify Young from any damages and/or losses incurred as a result of the activation and/or use of third-party software, with particular regard to the solutions made available by Young on the Exchange Platforms.

Processing of User Data  

Young Platform undertakes to process the User’s Personal Data acquired to execute the contract in the forms and within the limits imposed by the applicable legislation. The details relating to the processing of the User’s Personal Data are defined in the specific information provided to them before the conclusion of the contract.

Responsibilities of the User  

The User is required to: a) regularly and securely save the data uploaded and stored in their personal area on the Platform and create backup copies, in order to recover such data in the event of loss (including reports and transaction histories); b) promptly respond to requests from Young Platform necessary for the latter to fulfil obligations imposed by the applicable legislation; c) promptly and accurately report to Young Platform any functional failures, malfunctions or damage to the Platform and the Services; d) ensure that the devices through which they access the Platform and the related software components do not cause any damage to Young Platform, to the Platform or other customers; e) indemnify and hold Young Platform harmless for all costs, losses and claims for damages, including those of other Young Platform customers and third parties, including the Supervisory Authorities, the Judicial Authority and any other Public Authority, that may arise against Young if the User violates the obligations arising from this contract, including any damages that may arise to Young Platform if the documentation and data provided by the User under their sole responsibility are false, unsuitable or incomplete; f) keep their Credentials confidential; g) not use another User’s Profile under any circumstances; h) use only accounts and/or cards registered in the User’s name.

The User is responsible for all costs, including legal defence costs, incurred by Young Platform for any violation of third-party rights caused by the User in the execution of this contract, including the use of the Platform or Young Services.

Suspension and Limitation of Young Platform Services 

The User agrees that access to the Platform and the Services may be temporarily unavailable, suspended or restricted in the event of scheduled maintenance or events outside the control of Young Platform, which shall not be held responsible in any way for such circumstances. By way of example, but not exhaustively, events outside Young’s control include: force majeure events, acts of third parties not acting on behalf of Young Platform, technical conditions relating to the internet that cannot be influenced or controlled by Young, malfunctions of devices used by the User, cyberattacks and cases of unscheduled maintenance. Young Platform shall promptly inform the User in the event of scheduled maintenance that temporarily makes the Platform and/or the Services unavailable or limits access to them. 

In the event of unavailability, suspension and limitation of the Services or access to the Platform, Young Platform undertakes to resolve the related problems and to restore the full functionality of the services due to the User within a reasonable period of time, taking into account the interventions necessary for this purpose. If the User breaches their contractual obligations, Young Platform has the right to take reasonable steps to prevent damage to the Platform and ensure the availability of the Young Services. Such measures may include the partial or total restriction of access to the Platform and the Young Services by the User, and, in some serious cases, the total blocking of operations.

Young Platform is relieved of all liability towards the User in cases where the breach or delay in performance of the obligations under these Terms and Conditions is due to force majeure events. For the purposes of this contract, a force majeure event is any event or circumstance beyond the reasonable control of Young Platform, which could not be avoided by the latter by resorting to the diligence, prudence and expertise of a reasonable and prudent operator and which has the effect of preventing Young Platform from fulfilling all or part of its obligations under the contract. By way of example and not exhaustively, the following are considered force majeure events: acts and measures of the public authority, general strikes, absolute lack of means of transport, war, revolt or other military actions, floods, natural disasters, pandemic or any other unforeseeable event beyond Young Platform’s reasonable control and that prevents the full and correct fulfilment of the contract.

Limitation of Liability of Young Platform

Young Platform is liable to the User solely for direct and immediate damages resulting from a violation of these Terms and Conditions due to Young Platform’s wilful misconduct or gross negligence. Young Platform will not be in any way liable to the User for the work of any partner and/or service provider of Young Platform and/or third party that provides services to the User via the Platform. Furthermore, Young Platform shall not be held liable for any issues relating to access by Users using Authorised Distributors, when such issues are related to the platforms and/or services of such Authorised Distributors.

Term, Termination and Right to Suspend 

The User acknowledges and accepts that this contract is concluded for an indefinite period. The User may terminate the relationship with Young Platform at any time, notifying Young Platform by deleting their Profile, without needing to provide a reason. 

In turn, Young Platform may withdraw from the contractual relationship by notifying the User in writing (including via email and/or notification on the Platforms) with at least 30 (thirty) calendar days’ notice, without needing to justify its decision. 

Young Platform has the right to immediately terminate the contractual relationship, notifying the User in writing (including via email and/or notification on the Platforms), if one of the following circumstances occurs: a) the User does not pay the fees due for any reason within 5 (five) days from the time Young Platform notifies it that it has not received the payments due; b) the User does not provide Young Platform within 10 (ten) days with the information and data in the User’s possession that Young Platform requires to comply with obligations imposed by the applicable legislation; c) the User uses the Services for purposes and ends contrary to the law, the Terms and Conditions, public order or morality; d) the User causes damage to the Platform or the Services due to wilful misconduct or gross negligence, through the use of unauthorised software solutions, malware or other similar information tools; e) the User engages in behaviours that the Company deems negative and/or that may pose a reputational risk to it; f) the User does not log in to the Platform for more than 365 consecutive (calendar) days; g) the User appears on anti-crime, anti-terrorism and anti-money laundering lists, it being understood that in the latter case the Company reserves the right to immediately suspend the contractual relationship with the latter by unilaterally closing the account (subject to re-crediting of the balance).

If, in the case of f) above, the User remains inactive for more than 365 (calendar) days, Young Platform will inform the User that, if the User does not log in to the Platform within the next 15 (calendar) days, Young Platform will unilaterally terminate (with 30 days’ notice) and close the account, thereby terminating the contractual relationship. It is understood that what is identified in paragraph f) herein shall not apply if the User accesses the Services via Authorised Distributors.

In the event that there are active balances on a User’s Wallet, Young Platform will credit the User’s bank account upon closure, subject to confirmation of the credit details by the User. In the event that the balances are in the form of Cryptocurrencies, Young Platform shall convert them into FIAT Currencies before crediting the User’s bank account who shall then receive the countervalue in Euro on his/her bank account.

It is understood that in the event of no response from the user to the initial email and subsequent two reminders, Young Platform will not reimburse the remaining balance, regardless of its amount. If the remaining balance, including any non-compliant deposits, is less than 3.99 Euros, it will be retained by Young Platform. If the remaining balance is between 3.99 Euro and 250 Euro, and only if the User has not responded to the reminder communications, and in any case, within 15 (fifteen) days from the last account closure communication, such balance will be retained by Young Platform and will not be recredited. If the remaining balance exceeds 250 Euros, Young Platform will contact the customer to define the reimbursement procedures following the law. It is specified that the 3.99 Euro threshold also applies to individual non-compliant deposits, which will not be refunded if their amount is below this threshold.

Without prejudice to the right to terminate the contractual relationship referred to in the previous point, in the situations referred to in letters (a), (b), (c), (d), (e), (f) or (g) or in the circumstances where it has reason to suspect that the User is using the Platform in a fraudulent manner, Young Platform may decide to suspend the provision of the Young Services to the User until such time as the User provides the requested information and/or breaks the breach and/or until the fraudulent conduct of the User is ascertained and communicated to the User.

The termination of the contractual relationship for any reason results in the automatic termination of the agreements relating to the Services subscribed to on the Platform. In this regard, it is specified that, if the User has used and/or intends to use Instruments on his/her account (for instance: earning wallet, gift card, welcome bonus, etc.), and the same is subject to closure for one of the reasons referred to in Articles 10 and 13 of this document, these Instruments and any bonuses associated with them, if not yet accrued, may no longer be redeemed and/or used.

For the effects of termination of the latter, please refer to the terms and conditions of the agreements relating to banking services. Young Platform will delete the User’s account on the Platform, including all information associated with the account, including the User’s accounting data, 2 (two) weeks after the date of termination of the contractual relationship, without prejudice to the information that the applicable legislation requires to be retained. This is without prejudice to the User’s right to request or retain a copy of their data.

13.1 Death of the User

In the event of the death of a User, the Young Platform team, upon receiving notice of the death of the User, will collect the information necessary to proceed with the closure of the account of the deceased User and, also, to re-credit any balances to the heirs of the deceased User. Account closure is a permanent action and, once it has been carried out, all products and services that the User could access through that account will no longer be available. 

Should the deceased User, at the time of account closure, hold a balance in Cryptocurrencies, such Cryptocurrencies will be converted into FIAT Currencies and credited back to the deceased User’s bank account. Should the deceased User only hold FIAT Currencies, they will be credited back to the current account of the deceased User in the same manner. The User acknowledges, for him/herself and his/her successors in title that, unless otherwise requested in writing by his/her heirs, YP will carry out the conversion from Cryptocurrency to FIAT Currencies at the exchange value existing at the time of the account closure, acknowledges that YP shall in no way be liable for the exchange value applied and undertakes not to dispute this exchange value in any way.

If the deceased User, at the time of account closure, still had active specific plans and/or Tools (including but not limited to: Earning Wallet Tool), these plans/tools will be deactivated at the same time as the account closure, resulting in the loss of any benefits not yet accrued.

Young Platform reserves the right to request all information necessary to authenticate the heir and/or assignee, in order to ensure that the applicant is authorised to act on behalf of the deceased User. In this regard, you may be required to submit supporting documentation (including execution of will or court order).

If the heirs and/or assignees fail to produce the documents to YP, YP will be obliged to apply to the judicial authorities for the appropriate measures. 

It is understood that in the event that the User carries out the Access through an Authorised Distributor, the procedure for the re-crediting of the stock will be carried out in coordination with the said Authorised Distributor and always in the interests of the User and his/her heirs.

13.2. Contractual relation termination

The User consents to the termination of the existing contractual relationship with YP, subject to written notification by YP and without prejudice to the possibility of withdrawal. It is understood that in the event of a termination, the rights and conditions of this Contract shall not be affected, unless the User expressly agrees in writing.

Stamp Duty

Following Article 10 of the Presidential Decree No. 633/1972, and due to the adjustment of the tariff in the first part annexed to the Unified Stamp Duty Code as amended by paragraphs 144 and 145 of the 2023 Budget Law, entities obliged to apply the stamp duty (the “Stamp Duty” or “Tax”) include service providers referred to in Article 3, paragraph 5, letters i) and i-bis), of Legislative Decree 231/2007. These entities fall under the category of other financial operators for the purposes of anti-money laundering regulations and are also subject to fiscal monitoring obligations (Article 1, paragraph 1, Legislative Decree 167/1990).

In this context, it is specified that Young is among the entities required to apply the aforementioned Tax to Users.

The Stamp Duty on cryptocurrencies will apply to all Users with a Young Platform account, regardless of their residence.

The rate of the Stamp Duty is 0.2% (zero point two per cent) of the value of the cryptocurrencies held at the end of each calendar year, calculated, where possible, based on the euro equivalent as of December 31st. 

Effective from October 1, 2024, an advance deduction of the stamp duty in the amount of 1.00 Euro will be introduced, applicable only if the User’s total portfolio balance exceeds the equivalent of 1.00 Euro.
Subsequently, the same advance deduction of 1.00 Euro will be applied quarterly to any portfolio whose total value exceeds the threshold of 1.00 Euro at the time of the deduction, but only in cases where such portfolios were not subject to the deduction in the previous period.
In the event that the Euro balance is insufficient, the deduction will be made by withdrawing the equivalent amount in USDC or USDT, at Young Platform’s sole discretion, provided such balances are present and sufficient to cover the difference.
As of December 31 of each year, the total amount of stamp duty actually due will be calculated, and any amount previously deducted in advance will be subtracted from the total owed.
This method of advance deduction for the stamp duty shall also apply to any new Users who begin operating on the platform after October 1, 2024. Young Platform reserves the right to modify the frequency and the amount of advance deductions, giving Users 30 calendar days’ notice.
Should the Euro balance be insufficient to cover the stamp duty deduction, Young Platform will, at its sole discretion, proceed as follows:

• Debit the equivalent amount in USDC or USDT, if available in the User’s account;
• Deduct the amount at the next available transaction that results in a sufficient Euro balance;
• Invite the User to provide the necessary funds via:
  • a. Payment by card;
  • b. Bank transfer;
  • c. Conversion of cryptocurrencies into FIAT currency.

These options will be detailed through specific banners and insertions within each active account on Young Platform.

Changes to the Contract  

Young Platform may unilaterally modify the clauses and conditions set forth in these Terms and Conditions. 

Changes to the Terms and Conditions and/or the Annexes that result in worse contractual conditions for the User will be communicated to the latter at least 30 (thirty) days before the date of application of the change. The User may withdraw from the contractual relationship free of charge by the date of application of the change. A proposed non-worsening change is considered accepted if the User does not withdraw from the contract before the date of application of the change and if the User operates under the new conditions. The conditions of withdrawal for the User will be indicated in the unilateral proposed change communicated to the User. Changes to this contractual relationship that result in improved contractual conditions for the User or are imposed by the applicable legislation may be applied by Young Platform at any time and with immediate effect. It is understood that any contractual changes may not apply and/or may apply differently if access is made through Authorised Distributors.

Copyright and Intellectual Property  

All content present in or made available to Users through the Young App and/or the Services in the form of text, graphics, drawings, logos, icon buttons, images, audio files, digital downloads, collections of data and software, lists or other databases, as well as the App and/or the Services, is the property of the Company or its partners who provide content and/or services, and is protected by Italian and international laws on copyright, intellectual property rights, industrial law and database rights.

It is not permitted to systematically extract and/or reuse data or parts of the Services and/or the Young App without the Company’s express written consent. In particular, it is not permitted to use data mining, robots or similar acquisition or extraction devices to extract (one or more times) or to reuse any substantial part of any Service without our express written consent. Under no circumstances will the User have the right to create and/or publish by any means content that reproduces, even in part, elements of the Young App or the Services without the Company’s express written consent.

Trademarks and Logos 

The graphics, logos, page headers, icon buttons, fonts and service marks included in or made available through the Step App and/or any of the Services offered by Young Platform are trademarks or distinctive signs of the Company. The Company’s trademarks and distinctive signs may not be used – unless otherwise agreed in writing by the Company – in relation to sites, apps, products or services that do not belong to Young Platform, in such a way as to generate confusion among customers or in any way that may denigrate or discredit the Company itself. All other trademarks not owned by the Company that appear on any of the Services on the Young App are the property of their respective owners, who may be connected or related to the Company in any way.

Licences 

The proprietary rights of the content, including text, graphics, photographs and anything else published on the Young App, including educational content (the “Content”), are the exclusive property of Young Platform or Young Platform lawfully owns all rights to use and/or exploit them.

Communications  

Communications addressed to Young Platform should be sent to: [email protected] 

It is understood that in the event that the User logs in via Authorised Distributors, this process may change and, in such a case, the information relating to the methods of Support will always be available on the platform of the Authorised Distributor.

If Young Platform deems it appropriate, it may, after informing the User, also extend the above notices for complaint purposes to any party involved as a service provider directly or indirectly addressed to the User.

Communications to the User are made to the email address provided by the User to Young Platform during the registration process on the Platform. 

Young reserves the right in all cases to send communications to the User by other means. Young may change the contact details at which it intends to receive communications relating to the Contract at any time, subject to prior notice to the User. The User may in turn change the email address at which they wish to receive communications from Young Platform by following the procedures indicated on the Platform.

Applicable Law and Jurisdiction  

Italian law shall apply to these Terms and Conditions. The competent court, for all disputes between the Parties arising from or relating to this contractual relationship, is the court of Turin when the regulations in favour of the consumer do not apply (pursuant to Italian Legislative Decree No. 206 of 6 September 2005)

Last updated 09/10/2024