Crypto deposits from anonymous instant-exchange platforms are not accepted

This policy applies equally to crypto deposits made to SpectroCoin accounts and to crypto payments made to merchants via the SpectroCoin payment gateway. References to "deposits" in this article should be read accordingly.

Summary: SpectroCoin does not accept incoming crypto deposits originating from certain third-party instant-exchange ("swap") platforms. Deposits identified as coming from these platforms will be frozen pending review, may be subject to further compliance processing, and will not be refunded.

Which platforms are prohibited?

The following instant-exchange platforms are not permitted as a source of funds for deposits to SpectroCoin:

• FixedFloat (ff.io)
• ChangeHero (changehero.io)
• Exolix (exolix.com)
• ChangeNOW (changenow.io)
• ShapeShift (shapeshift.com)
• Houdini Swap (houdiniswap.com)

This list is not exhaustive. SpectroCoin may, at its sole discretion, extend the same treatment to any other platform that does not meet our source-of-funds and counterparty due-diligence standards.

Why are these platforms not accepted

As a regulated crypto-asset service provider, SpectroCoin is legally required to identify the source and origin of funds entering its platform and to ensure that the counterparty to a transaction is a regulated, identifiable entity.

The platforms listed above operate as non-custodial or anonymous swap services that, as a rule:

• Do not perform customer identification (KYC) on senders and recipients;
• Do not hold the user in a verifiable account relationship;
• Do not transmit originator and beneficiary information as required under the FATF "Travel Rule";
• Obscure the true origin of the crypto-assets, making it impossible for SpectroCoin to verify that the funds are lawfully held by the depositing user.

Accepting deposits from such sources would place SpectroCoin and our users in breach of applicable anti-money-laundering (AML) and counter-terrorist-financing (CTF) obligations.

What happens if you deposit from a prohibited platform

If a deposit to your SpectroCoin account is identified as originating from any of the platforms listed above, the following will apply:

1. The deposit will be frozen. The crypto-assets will not be credited for use or as payment for a merchant order.
2. The funds will be subject to further compliance processing. This may include enhanced due diligence, a formal source-of-funds review, and, where required by law, reporting to the competent authorities.
3. No refunds will be processed. Funds will not be returned to the originating swap platform, to any wallet associated with it, or to any other address, regardless of the reason for the deposit.
4. Your account may be subject to further restrictions, including, where warranted, suspension or closure in accordance with our Terms and Conditions.

This treatment applies regardless of the deposit amount, the asset deposited, or the user's prior account history.

What you should do instead

To ensure your deposits are credited without issue, send crypto only from sources where you are the verified account holder and where the source of funds can be demonstrated. Acceptable sources typically include:

• Regulated, KYC-compliant exchanges where the account is registered in your own name;
• A self-custodied wallet (e.g. a hardware or software wallet under your sole control), provided you can evidence how the funds arrived in that wallet;
• Your own account with another licensed crypto-asset service provider.

If you are unsure whether a particular source is acceptable, please contact our support team before initiating the transfer. It is always easier to confirm compliance in advance than to resolve a frozen deposit afterwards.

This article forms part of SpectroCoin's compliance framework. SpectroCoin reserves the right to update this policy at any time in line with regulatory developments and its risk-based approach.