Use of PAX for Illegal Activity Prohibited
- We may freeze, temporarily or permanently, your use of, and access to PAX or the US dollars backing your PAX, with or without advance notice, if we are required to do so by law, including by court order or other legal process.
- Your PAX and the US dollars backing your PAX may be subject to seizure or forfeiture by law enforcement, and we will comply with legal process in respect thereof.
- If we determine after investigation that PAX has been used, or is being used, for illegal (or sanctioned) activity, we may not permit you to redeem your PAX for US dollars from Paxos, and, if presented for redemption, such PAX and the US dollars backing such PAX may be forfeited.
- Any PAX or fiat currency underlying PAX that is subject to freeze, seizure, forfeiture or similar limitation on its use imposed by law may become wholly and permanently unrecoverable and unusable, and in appropriate circumstances, may be destroyed.
- This applies to all holders of PAX, regardless of whether the holder is a Member (as such term is defined in the Paxos Terms and Conditions) of Paxos.
- By using PAX, you agree that we may take the actions set forth above and that we will not be liable to you therefore.