Last Updated: August 29, 2019
August 29, 2019
As used herein, “Digital Currency” means a digital asset (also called a “cryptocurrency,” “virtual currency”), such as, but not limited, bitcoin or ether, which is based on a cryptographic protocol(s) of an electronic system that may be (i) centralized or decentralized, (ii) proprietary or open-source, and (iii) used as a medium of exchange and/or store of value.
INFORMATION WE COLLECT
Section 326 of the USA PATRIOT ACT requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. This federal requirement applies to all Genesis counterparties. This information is used to assist the United States government in the fight against the funding of terrorism and money-laundering activities. What this means for you: when you complete an application we ask you for your name, address, date of birth, and other identifying information. For more details, please see below:
Verification Information — We collect information that you provide during a completed, incomplete, or abandoned application. This may include the following information:
Individual customer — we attempt to collect, verify, and authenticate the following information:
Full legal name;
Social Security Number (“SSN”) or any comparable identification number issued by a government;
Date of birth (“DOB”);
Proof of identity (e.g., driver’s license, passport or government-issued ID);
Home address (not a mailing address or P.O. Box);
And Additional information or documentation at the discretion of our Compliance Team. Institutional customer — we attempt to collect, verify, and authenticate the following information:
Institution legal name;
Employer Identification Number (“EIN”) or any comparable identification number issued by a government;
Full legal name (of all account signatories and beneficial owners);
Address (principal place of business and/or other physical location);
Proof of legal existence (e.g., state certified articles of incorporation or certificate of formation, unexpired government-issued business license, trust instrument, or other comparable legal documents as applicable);
Contact information of owners, principals, and executive management (as applicable);
Proof of identity (e.g., driver’s license, passport or government-issued ID) for each individual beneficial owner that owns 25% or more, as well as all account signatories;
And Identifying information for each entity beneficial owner that owns 25% or more (see individual customer information collected above for more details).
Device Information – Information that is automatically collected about your device (such as, but not limited to, hardware, operating system, browser, etc.).
Location Information – Information that is automatically collected via analytics systems providers to determine your location, including your IP address and/or domain name and any external page that referred you to us.
Log Information – Information that is generated by your use of Genesis that is automatically collected and stored in our server logs. This may include, but is not limited to, device-specific information, location information, system activity and any internal and external information related to Genesis pages that you visit.
Trading Information – Information that is generated by your trading activity including, but not limited to trading activity and wallet addresses.
Correspondence – Information that you provide to us in correspondence, including opening an application, and with respect to ongoing customer support.
When you access Genesis, we may make use of the standard practice of placing tiny data files called cookies, flash cookies, pixel tags, or other tracking tools (herein, “Cookies”) on your computer or other devices used to visit Genesis. Cookies are small bits of information that are automatically stored on the web browser of your device that can be retrieved by us. The type of information we collect includes, but is not limited to, uniquely identifying visitor information and information related to your usage preferences. We use these technologies to help us recognize you as a user, collect information about your use of Genesis to better customize our services and content for you, and collect information about your computer or other access devices to (i) ensure compliance with our BSA/AML Program and (ii) ensure that your account security has not been compromised by detecting irregular or suspicious account activities. By using Genesis, you acknowledge and agree that we may collect and/or transmit any data collected to our third-party service providers, such as analytics providers, which may also make use of such technologies described above. Please note that if you block or delete cookies you will not be able to use some or all of Genesis. If you do not consent to the placing of Cookies on your device, please do not visit, access, or use Genesis.
HOW WE USE INFORMATION WE COLLECT
The information collected and the practices described above are done in an effort to provide you with the best experience possible, protect you from risks related to improper use and fraud, and help us maintain and improve Genesis.
We may share information with trusted and contracted third-party service providers (including those that may be located outside of the United States or your country), who help us operate our platform and systems, and detect fraud and security threats throughout the normal course of our business. Such third-party service providers are subject to confidentiality obligations. In addition, we may be compelled to share information with law enforcement, government officials, and regulators.
For example, we may use your information to:
Conduct anti-fraud and identity verification and authentication checks (you authorize us to share your information with our third-party service providers, who may also conduct their own searches of publicly available information about you);
Monitor the usage of Genesis, and conduct automated and manual security checks of our service;
And Create aggregated and anonymized reporting data about Genesis. We do not sell customer information to third parties for the purposes of marketing.
Be aware that bitcoin, ether, and other Digital Currencies are not anonymous. Anyone can see the balance and transaction history of any Digital Currency address (public key). We, and any others who can match your Digital Currency address (public key) to other information about you, may be able to identify you from a blockchain transaction. This is because information published on a blockchain can be correlated with information that we and others may have. This may be the case even if we, or they, were not involved in the blockchain transaction. Furthermore, by using data analysis techniques on a given blockchain, it may be possible to identify other information about you. As part of our security, anti-fraud and/or identity verification and authentication checks, we may conduct such analysis to collect and process such information about you. You acknowledge and agree to allow us to perform such practices.
HOW WE SHARE PERSONAL INFORMATION WITH OTHER PARTIES
We may share your personal information with:
Third party identity verification services in order to prevent fraud. This allows Genesis to confirm your identity by comparing the information you provide us to public records and other third-party databases;
Service providers under contract who help with parts of our business operations such as bill collection, marketing, and technology services. Our contracts require these service providers to only use your information in connection with the services they perform for us, and prohibit them from selling your information to anyone else;
Financial institutions with which we partner;
Companies or other entities that purchase Genesis assets pursuant to a court-approved sale under U.S. Bankruptcy law;
Law enforcement, and officials, or other third parties when:
We are compelled to do so by a subpoena, court order, or similar legal procedure;
Or we believe in good faith that the disclosure of personal information is necessary to prevent physical harm or financial loss, to report suspected illegal activity or to investigate violations of our User Agreement;
And other third parties with your consent or direction or any third party that might be required by law.
Subject to applicable laws and regulations, we may from time to time send direct marketing materials promoting services, products, facilities, or activities to you using information collected from you.
We cannot agree to obligations of confidentiality or nondisclosure with regard to any unsolicited information you submit to us, regardless of the method or medium chosen. By submitting unsolicited information or materials to Genesis, you or anyone acting on your behalf, agree that any such information or materials will not be considered confidential or proprietary.
Transmission of information via regular email is inherently insecure – so please DO NOT do so. Contact us if you need to submit sensitive personal information and we can arrange for a method of secure transmission. The definition of sensitive personal information varies from jurisdiction to jurisdiction. For your own protection, assume all of your information to be sensitive and act accordingly.