Legalities of using MySteemX (www.mysteemx.com)

WHAT IS MYSTEEMX?

MYSTEEMX is a certified exchange platform registered under REDRAVEN LTD certified by Corporate Affairs commission (CAC) to carry out business together with STEEMEXCHANGER.NG and STEEMXGH.COM. Its sole purpose is to convert STEEM, SBD and FIAT while fostering a global STEEM adoption.

Below are the registration documents of REDRAVEN LIMITED

INCORPORATION CERTIFICATE

Below is the incorporation document of RedRaven Limited. RedRaven Limited was issued this certificate to legally operate business as it has met all requirements needed to perform the types of business underlisted in Memorandum of Association which include Trading and provision of Bitcoin and Other digital Currencies

INFORMATION OF SHARE HOLDERS

Below is the information of shareholder of RedRaven Limited, Shareholders are required to provide their valid means for identification before the company will be certified to operate a legal business.

TAX DOCUMENTS

Below are the tax documents of RedRaven Limited. This documents are made compulsory by relevant authorities for business to have them before they can legally operate.

WITHDRAWING TO PAYPAL

MySteemX sends you money to your PayPal account in accordance with PayPal's Acceptable use policy.

Below is PayPal Acceptable Use Policy

Prohibited Activities

You may not use the PayPal service for activities that:

1. violate any law, statute, ordinance or regulation.

2. relate to transactions involving (a) narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety, (b) drug paraphernalia, (c) cigarettes, (d) items that encourage, promote, facilitate or instruct others to engage in illegal activity, (e) stolen goods including digital and virtual goods, (f) the promotion of hate, violence, racial or other forms of intolerance that is discriminatory or the financial exploitation of a crime, (g) items that are considered obscene, (h) items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction, (i) certain sexually oriented materials or services, (j) ammunition, firearms, or certain firearm parts or accessories, or (k) certain weapons or knives regulated under applicable law.

3. relate to transactions that (a) show the personal information of third parties in violation of applicable law, (b) support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs, (c) are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card, (d) are for the sale of certain items before the seller has control or possession of the item, (e) are by payment processors to collect payments on behalf of merchants, (f) are associated with the sale of traveler's checks or money orders, (g) involve currency exchanges or check cashing businesses, (h) involve certain credit repair, debt settlement services, credit transactions or insurance activities, or (i) involve offering or receiving payments for the purpose of bribery or corruption.

4. involve the sales of products or services identified by government agencies to have a high likelihood of being fraudulent.

Is MySteemX GDPR Compliant ?

THE PERSONAL INFORMATION WE COLLECT

Personal information is data that can be used to identify you directly or indirectly, or to contact you. Our Privacy Policy covers all personal information that you voluntarily submit to us and that we obtain from our partners.

This Privacy Policy does not apply to anonymised data, as it cannot be used to identify you. You may be asked to provide personal information anytime you are in contact MySteemX. Except as described in this Privacy Policy, MySteemX not give, sell, rent or loan any personal Information to any third party.

HOW YOUR PERSONAL INFORMATION IS USED

Our primary purpose in collecting personal information is to provide you with a secure, smooth, efficient, and customised experience. In general, we use personal information to create, develop, operate, deliver, and improve our Services, content and advertising, and for loss prevention and anti-fraud purposes. We may use this information in the following ways:

• to verify your identity in accordance with Know Your Customer (KYC), Anti-Money Laundering (AML) and sanctions screening requirements;

• to enforce our terms in our user agreement and other agreements

• to manage and maintain your account with us;

• to prevent fraudulent or unauthorised use of our products and services;

• to better manage our business and your relationship with us;

• to improve our products and services, and to develop new products and services;

• to notify you about benefits and changes to the features of our products and services;

• to provide you with personalised advertising and marketing;

• to respond to your enquiries and to resolve disputes.

Where necessary to protect our legal rights and interest, or the interests of others, we also use personal data in relation to legal claims, compliance, audit, risk management and regulatory functions. We may also use personal data in connection with the acquisition, merger or sale of a business.

EEA Residents: Pursuant to EEA Data Protection Law, we process this personal information to satisfy our legitimate interests as described above.

GLOBAL COMPANY

The personal data we collect may be transferred to, stored and processed outside of the jurisdiction in which you reside, and the laws of those countries may differ from the laws applicable in your own country. For example, data collected in the European Economic Area (EEA) may be transferred to, stored and processed at a destination(s) outside of the EEA. Any processing of such data will be undertaken by our staff, or the staff of our third-party service providers, whose roles will include verifying your identity, processing payment details, and providing customer support.

By accepting our Privacy Policy, and then submitting your personal data, you agree to the transfer, storing or processing of it outside of your jurisdiction.

Is MySteemX a licensed Money Transmitter ?

MySteemX doesn't accept deposit nor hold USD, GBP or Any other Legal tender.

What and who is a money transmitter?

Also referred to as money remitters or money transfer services, money transmitters transfer funds or provide payment services. Most states define anyone who receives money to transmit money to another location by any means, including wire, facsimile, electronic transfer or payment instrument, as a money transmitter.

Money transmitters are one of several disciplines within money services businesses (MSB), which describes businesses that convert or wire money. Although the majority of money services business disciplines require a minimum threshold to be considered an MSB, a threshold does not exist for money transmitters. Therefore, any business that transfers funds or provides payment services is considered a money transmitter regardless of business activity.
Some examples of money transmitters include Barclays, PayPal, Western Union and MoneyCorp.

Monetary or Payment instruments

• Currency;

• Traveler's checks in any form;

• All negotiable instruments (including personal checks, business checks, official bank checks, cashier's checks, third-party checks, promissory notes (as that term is defined in the Uniform Commercial Code), and money orders) that are either in bearer form, endorsed without restriction, made out to a fictitious payee (for the purposes of § 1010.340), or otherwise in such form that title thereto passes upon delivery;

• Incomplete instruments (including personal checks, business checks, official bank checks, cashier's checks, third-party checks, promissory notes (as that term is defined in the Uniform Commercial Code), and money orders) signed but with the payee's name omitted; and

• Securities or stock in bearer form or otherwise in such form that title thereto passes upon delivery.

Currency.

The coin and paper money of the United States or of any other country that is designated as legal tender and that circulates and is customarily used and accepted as a medium of exchange in the country of issuance. Currency includes U.S. silver certificates, U.S. notes and Federal Reserve notes. Currency also includes official foreign bank notes that are customarily used and accepted as a medium of exchange in a foreign country.

Furthermore, according to "The Final Rule" amended the definition of "money services business" at 31 CFR 1010.100(ff). MySteemX cannot be classified as an MSB (Money service business).

IMPORTANT NOTE

One more important thing is that we have had feedback from the community on how we deal with PayPal due to the fact that the financial instrument we exchange for users are cryptocurrencies and PayPal hasn't been really friendly with cryptocurrencies lately. So we see it as an important thing to let the community know that our transactions with PayPal isn't on the cryptocurrency basis. The only party we trade cryptocurrency with are our local exchanges and once that is done. We have the fiat equivalent of user's STEEM/SBD and that's what goes through PayPal.

We want to use this opportunity to thank everyone that have traded with MySteemX global, SteemX Nigeria and SteemX Ghana, the witnesses that have supported us and the entire Steemit community that have trusted us for the past 8 months. We appreciate you in a special way.

Together we will bring the global adoption of Steem to reality.