Stakit Legal Disclosures
Last updated: April, 11th, 2025
PLEASE READ THESE LEGAL DISCLOSURES CAREFULLY. BY ACCESSING OR USING STAKIT'S SERVICES, YOU AGREE TO BE LEGALLY BOUND BY THESE DISCLOSURES.
Digital Assets
The term "digital asset(s)" does not represent any legal or regulatory category under any national framework. Digital assets are inherently volatile, and there is a significant risk of losing money when buying, selling, holding, or investing in them. Each digital asset carries unique features, and it is your responsibility to conduct thorough research and understand any asset before engaging in transactions. Stakit operates independently of any project teams associated with the digital assets available on its platform unless otherwise designated by an official partnership.
Not Investment Advice
The information provided by Stakit, whether on its platform, website, emails, or other communications, is intended for general informational purposes only. Stakit does not offer investment, tax, or legal advice. Users are solely responsible for evaluating whether any investment, strategy, or transaction aligns with their personal financial objectives, circumstances, and risk tolerance.
This information should not be interpreted as a recommendation or solicitation to buy, sell, stake, or hold digital assets or to engage in any specific trading or staking strategy. Consult with your financial advisor, legal counsel, or tax professional to assess whether interacting with digital assets suits your financial condition and long-term goals.
Stakit's Ventures and Holdings
Stakit may hold tokens on its balance sheet for operational purposes or other strategic reasons. While some tokens may benefit Stakit financially, all digital assets available on the platform undergo a thorough and unbiased review process to ensure compliance with Stakit's listing standards.
No Insurance Coverage
Stakit accounts and digital assets are not insured against losses. They are not protected by any government or private entity, such as the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC) in the United States or equivalent organizations globally.
This page should cover compliance and disclaimers specific to your jurisdiction and industry. Include:
1. Jurisdiction-Specific Information: Compliance with DMCC UAE and Local Regulations
At Stakit, we prioritize strict adherence to all regulatory frameworks governing our operations. Our compliance practices reflect our commitment to operating within the legal and ethical guidelines established by the Dubai Multi Commodities Centre (DMCC) and other relevant local and international regulatory bodies.
Compliance with DMCC Regulations
1. Licensing and Operations Framework:
○ Stakit is licensed under the DMCC authority, ensuring full compliance with all operational, financial, and legal requirements for entities operating in Dubai's free zones.
○ We adhere to DMCC's specific guidelines for businesses in the blockchain, cryptocurrency, and technology sectors.
2. Economic Substance Regulations (ESR):
○ Stakit complies with UAE's ESR by demonstrating adequate economic presence and performing core income-generating activities within the jurisdiction.
○ Regular submissions of ESR notifications and reports are conducted as per DMCC and UAE regulations.
3. Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF):
○ Our compliance framework integrates AML and CTF measures outlined by UAE law, ensuring customer due diligence and reporting mechanisms.
○ We work closely with DMCC's Compliance and Risk Management teams to monitor and mitigate risks associated with financial crimes.
4. Data Privacy and Protection:
○ Stakit aligns with the UAE's Personal Data Protection Law (PDPL) to ensure the secure collection, processing, and storage of user data.
○ We implement data governance measures in accordance with DMCC's technology and data protection standards.
Adherence to Other Relevant UAE Regulations
1. Virtual Asset Regulatory Authority (VARA):
○ As a blockchain-based company, Stakit follows the regulatory frameworks established by VARA, including obtaining necessary approvals for virtual asset operations.
○ We adhere to VARA's standards for transparency, reporting, and secure digital asset management.
2. Dubai Financial Services Authority (DFSA) Guidelines:
○ Stakit incorporates DFSA best practices for virtual asset activities and ensures financial transparency in our operations.
3. Labor and Employment Compliance:
○ Stakit complies with UAE labor laws, offering fair treatment, benefits, and workplace protections for employees under DMCC-specific guidelines.
Global and Cross-Border Compliance
• Stakit recognizes the global nature of blockchain technology and ensures that our platform operates in compliance with international data protection laws, such as GDPR (General Data Protection Regulation).
• We maintain alignment with best practices in financial integrity and transparency for cross-border transactions.
Commitment to Transparency and Integrity
• Stakit is dedicated to providing stakeholders with complete transparency in operations, reporting, and compliance.
• We conduct regular audits and engage with regulatory bodies to ensure ongoing alignment with the legal and ethical standards of DMCC and the UAE.
For more information regarding our compliance measures or jurisdiction-specific practices, please contact our compliance team or visit our website.
2. No Financial Licensing Disclaimer
Stakit operates as a technology and service provider in the blockchain and cryptocurrency space and is not a regulated financial institution, bank, or exchange. We do not hold any financial licenses, and our platform is not intended to perform the functions of a licensed financial services provider.
Key Clarifications:
1. Non-Regulated Status:
Stakit is not regulated as a financial institution under the laws of the UAE or any other jurisdiction. We do not provide banking, deposit-taking, lending, or investment advisory services.
2. Transaction Facilitation Only:
Stakit serves as a platform for facilitating blockchain-based rewards, loyalty programs, and token-based services. Our offerings are strictly limited to technology solutions and community engagement tools, and do not include financial transactions or asset custody.
3. No Investment Services:
Stakit does not offer investment advice, manage investments, or act as a broker, dealer, or intermediary in any investment-related activity. Users should seek professional financial advice before engaging in any activity involving cryptocurrency or blockchain-based assets.
4. No Custodial Services:
Stakit operates as a non-custodial platform, meaning that we do not control or manage user funds, private keys, or digital wallets. All transactions conducted on our platform are directly managed by the users themselves.
5. Compliance with Relevant Regulations:
While Stakit adheres to applicable laws and guidelines within the jurisdictions we operate, our activities do not require financial licensing under existing regulatory frameworks. We continuously monitor regulatory changes to ensure compliance with any applicable requirements.
User Responsibility:
Users of Stakit are solely responsible for understanding and complying with the legal and regulatory obligations associated with their activities on the platform.
By using the Stakit platform, users acknowledge and accept our non-regulated status and agree to our terms and conditions, which outline the scope and limitations of our services. For further information, please refer to our full terms of service and legal documentation.
3. No Client Fund Custody Disclaimer
At Stakit, we operate as a non-custodial platform, ensuring that users maintain full control and ownership of their funds at all times. We do not hold, store, or manage client funds or digital assets, thereby minimizing risks associated with centralized asset custody.
Key Points:
1. User Control of Funds:
Stakit is designed as a non-custodial solution, meaning users directly manage their own funds and private keys. All transactions conducted on our platform are executed through decentralized mechanisms or directly by users via their connected wallets.
2. No Custody Services Provided:
○ Stakit does not offer wallet management, fund custody, or escrow services.
○ We do not have access to or control over any user funds, wallets, or private keys.
○ Any transactions initiated through our platform are conducted directly between the user and the blockchain network.
3. Risk Reduction:
By not holding user funds, Stakit eliminates risks associated with centralized custody, such as theft, loss, or mismanagement of funds. This approach aligns with best practices for blockchain security and user autonomy.
4. User Responsibility:
○ Users are solely responsible for the security and management of their wallets, private keys, and funds.
○ Stakit strongly encourages users to employ best practices for wallet security, including using secure hardware wallets and protecting private keys from unauthorized access.
5. Third-Party Wallet Integration:
Stakit enables seamless integration with third-party wallets, allowing users to interact with our platform without transferring custody of their assets to us.
Transparent Operations:
Stakit's commitment to a non-custodial approach underscores our dedication to empowering users with autonomy and minimizing perceived risks. By maintaining this model, we foster trust and confidence while enabling users to fully control their blockchain assets.
For further details on our platform's functionality and user responsibilities, please refer to our full Terms of Service and User Agreement documents.
4. Legal Limitations Disclaimer
At Stakit, we operate in strict adherence to UAE laws and regulations governing blockchain technology, digital assets, and related activities. However, there are limitations to our obligations and liabilities as outlined below:
1. Jurisdictional Scope
• Stakit operates within the legal framework of the United Arab Emirates (UAE), particularly under the guidance of DMCC (Dubai Multi Commodities Centre) and other applicable authorities.
• Our obligations are limited to the regulatory requirements explicitly outlined by UAE laws and do not extend beyond this jurisdiction unless otherwise specified.
2. Limited Liability
• Stakit assumes no responsibility for user actions or decisions made using our platform. Users are solely responsible for complying with the laws applicable to their respective jurisdictions.
• We are not liable for any losses, damages, or penalties incurred as a result of non-compliance with local laws or regulations by users.
3. No Guarantee of Legal Suitability
• The use of Stakit's platform may not be suitable or permissible in certain jurisdictions outside the UAE. It is the user's responsibility to ensure compliance with local laws when accessing or utilizing Stakit's services.
• Stakit makes no representations or warranties about the legality of its services in jurisdictions outside the UAE.
4. Service Boundaries
• No Fiduciary Duty: Stakit does not act as a fiduciary, advisor, or legal representative for users in any capacity.
• Third-Party Services: Stakit collaborates with third-party service providers whose obligations and liabilities are governed by their respective agreements and jurisdictions. We are not responsible for any actions or failures of these third parties.
5. Regulatory Compliance
• Stakit adheres to UAE regulations, including DMCC guidelines, financial anti-money laundering (AML) requirements, and counter-terrorism financing (CTF) measures.
• Our compliance obligations are subject to UAE law and do not cover the legal requirements of other jurisdictions unless expressly stated.
6. User Responsibilities
• It is the responsibility of users to ensure their activities on the platform are in compliance with all relevant laws and regulations in their jurisdictions.
• Users are advised to seek independent legal counsel if they are uncertain about the regulatory implications of using Stakit's services.
7. Force Majeure and External Factors
• Stakit is not liable for any disruptions or delays caused by factors beyond our control, including but not limited to changes in UAE law, acts of government, or technological failures.
By using Stakit's services, users acknowledge and accept the limitations outlined above. For more detailed information, please refer to our Terms of Service and Legal Notice documents.
5. User Due Diligence Disclaimer
At Stakit, we prioritize transparency and user empowerment. While we strive to provide a seamless and reliable platform for blockchain and crypto-related services, we strongly encourage all users to perform their own research and due diligence before engaging with our platform or making any financial or transactional decisions.
1. Importance of Independent Research
• Knowledge Empowerment: Users are encouraged to understand the features, risks, and implications of engaging with blockchain technology and digital assets.
• Evaluate Suitability: It is vital for users to assess whether Stakit's services align with their specific goals, needs, and financial circumstances.
2. No Substitution for Professional Advice
• Non-Investment Advice: Stakit does not provide financial, legal, or investment advice. Users should seek independent advice from qualified professionals to understand the full scope of risks and opportunities.
• No Guarantees: Stakit does not guarantee any financial returns, asset performance, or the suitability of its services for individual users.
3. Researching Opportunities and Risks
• Project Evaluation: Before participating in any blockchain, crypto, or rewards-based project, users should thoroughly research the project's credibility, potential, and associated risks.
• Regulatory Awareness: Users must ensure compliance with the laws and regulations applicable in their respective jurisdictions when using Stakit's services.
4. Risk Awareness
• Volatility of Crypto Assets: Users should be aware of the inherent volatility and unpredictability of cryptocurrency markets and their associated risks.
• Third-Party Services: Stakit works with third-party providers, and users are advised to research and evaluate the terms, reliability, and practices of these providers independently.
5. Decision Accountability
• Personal Responsibility: All decisions made using Stakit's platform are the sole responsibility of the user. Stakit assumes no liability for user decisions or actions taken based on information obtained through its platform.
• Informed Engagement: Users are encouraged to make well-informed decisions by understanding the mechanics, terms, and potential outcomes of their engagements.
6. Commitment to Transparency
• Stakit ensures clear and comprehensive communication about its services, features, and functionalities to assist users in their due diligence efforts.
By engaging with Stakit's platform, users acknowledge the importance of performing their own research, understanding associated risks, and seeking professional advice when needed. Our mission is to empower users with the tools and information they need to make confident and informed decisions in the evolving blockchain and crypto landscape.
6. Conflict of Interest
Currently we do not have any token-related operations but may develop tokenomics in the future.
7. External Audit Status
Are systems are regularly audited by 3rd party services for security purposes and user protection due diligence.
8. Dispute Resolution: Ensuring Fair and Efficient Processes
Stakit is committed to resolving any disputes with transparency, fairness, and efficiency. To this end, we have established the following guidelines for dispute resolution:
1. Governing Law
○ All disputes arising out of or in connection with the use of Stakit's platform will be governed by the laws of the United Arab Emirates (UAE), specifically adhering to the regulations applicable in Dubai.
2. Arbitration in Dubai
○ Any disputes, claims, or controversies arising out of or relating to your use of Stakit's services shall be resolved through binding arbitration conducted in Dubai. Arbitration will be carried out in accordance with the rules set forth by a recognized arbitration body, such as the Dubai International Arbitration Centre (DIAC).
3. Arbitration Process
○ The arbitration proceedings shall:
○ Be conducted in English.
○ Involve a single arbitrator mutually agreed upon by both parties or appointed by the arbitration body.
○ Deliver a final and binding resolution that both parties agree to honor.
4. Exclusion of Class Actions
○ Disputes must be resolved on an individual basis. Class actions, collective arbitrations, or other forms of consolidated dispute resolution are not permitted under this agreement.
5. Initial Resolution Attempt
○ Before initiating arbitration, users are encouraged to contact Stakit's support team at [president@stakit.com] to attempt an informal resolution. Many disputes can be resolved efficiently through open communication.
6. Costs and Expenses
○ Each party will bear its own costs associated with arbitration unless otherwise determined by the arbitrator.
7. Exceptions
○ Disputes related to intellectual property rights or violations of platform terms may, at Stakit's discretion, be brought before the competent courts of Dubai rather than arbitration.
Stakit's dispute resolution framework reflects our dedication to providing a clear, efficient, and fair process for resolving concerns while adhering to UAE regulations and industry standards.
9. Non-Endorsement Disclaimer
Stakit does not endorse, sponsor, or recommend any third-party projects, services, or entities integrated with or accessible through our platform. While we provide tools and functionality that enable interaction with a variety of third-party projects, any engagement with such projects is undertaken at the user's discretion and risk.
1. Neutral Position
○ Stakit remains neutral regarding third-party projects and does not provide any assurances or guarantees about their legitimacy, quality, functionality, or security.
2. Independent Due Diligence
○ Users are strongly encouraged to conduct their own independent research and due diligence before interacting with or transacting with any third-party projects, services, or platforms.
3. No Liability
○ Stakit assumes no responsibility or liability for any losses, damages, or adverse outcomes resulting from users' interactions with third-party projects integrated with our platform.
4. Third-Party Terms
○ Users engaging with third-party services or projects are subject to the terms and conditions and policies of those entities. Stakit is not a party to or responsible for any agreements entered into with third parties.
5. Dynamic Ecosystem
○ The presence of a project on our platform reflects its availability for integration but does not constitute an endorsement, verification, or approval by Stakit.
This non-endorsement policy ensures that users understand the independent nature of third-party projects and services while promoting transparency and encouraging informed decision-making.
10. Updates to Legal Disclosures
Stakit is committed to maintaining transparency and ensuring users are informed of any updates to our legal disclosures. As part of our compliance and operational practices, we periodically review and update our legal terms, policies, and disclosures to reflect regulatory changes, evolving business practices, or other relevant considerations.
1. Periodic Updates
○ Legal disclosures, including terms of use, privacy policies, and disclaimers, may be revised or updated from time to time to ensure compliance with applicable laws and to provide clarity on Stakit's operations.
2. Notification of Changes
○ Users will be informed of updates through one or more of the following methods:
○ Notifications on the Stakit platform.
○ Email communication to registered users (if applicable).
○ Updates prominently displayed on the relevant sections of the Stakit website.
3. Effective Date
○ All updates will include an "Effective Date" to indicate when the changes take effect. Continued use of the platform after the effective date constitutes acceptance of the updated terms or disclosures.
4. User Responsibility
○ Users are encouraged to review the updated disclosures regularly to stay informed of any changes. It is the user's responsibility to ensure they are aware of the latest terms and conditions governing their use of the platform.
5. Commitment to Transparency
○ Stakit values transparency and user trust. Any material changes that could significantly impact users will be highlighted and communicated proactively.