Bitcoin Disclosures

Virtual currency services are offered through your account with Cash App, a product of Block, Inc., formerly known as Square, Inc. (the “Company”).

Cash App Investing LLC, a subsidiary of the Company, does not trade virtual currency or provide virtual currency services and the Company is not a member of FINRA or SIPC. Virtual currencies are not stocks or securities and your virtual currency holdings are not protected by the FDIC or SIPC.

We may require a minimum amount to process withdrawals or deposits into or out of your Cash App wallet. Currently, there is a 5,000 satoshis minimum for on-chain withdrawals.

The supply of virtual currency available to the Company to sell to you and the ability of the Company to purchase or transfer your virtual currency depends on third-party providers that are outside of the Company’s control and the Company makes no promises as to the timing of virtual currency purchases, sales, and transfers.

The Company does not own or control any of the software protocols that are used in connection with the virtual currencies purchased, sold, or transferred through the services. The Company makes no guarantees regarding any price fluctuations in virtual currency or the security, functionality or availability of such protocols.

The Company is not responsible to you for any virtual currency, token or other digital asset received or held through air drops, forks or other similar mechanisms, and the Company will have no duty, responsibility or obligation to you with respect to such assets, unless and until you have been notified explicitly in writing by the Company that such assets are “Virtual Currency” and part of your “Hosted Balance” as such terms are defined in the Cash App Terms of Service (the “Terms”), supported by the Company, and included on your Cash App account receipts or statements.

These Bitcoin Disclosures may be updated or modified by the Company from time to time and are incorporated by reference in the Cash App Terms that govern your access and use of the Company’s virtual currency services.

State-Specific Disclosures Related to the Company’s Bitcoin Services

The Company maintains licenses to engage in money transmission and virtual currency activities in many U.S. states. Where you live may impact some of the products and services we provide. The Company’s licenses can be found on the Licenses page. If you wish to file a complaint directly with the regulatory agency of your state, you may do so using the agency contact information available on that page.

If you live in the following jurisdictions, we are providing you with the following information related to the Company’s virtual currency activities.

Florida
NOTICE: By the Florida Office of Financial Regulation
BY GRANTING BLOCK, INC. A LICENSE, THE FLORIDA OFFICE OF FINANCIAL REGULATION IS NOT ENDORSING THE USE OF DIGITAL OR VIRTUAL CURRENCIES.

  • U.S. currency is legal tender backed by the U.S. government. Digital and virtual currencies are not issued or backed by the U.S. government, or related in any way to U.S. currency, and have fewer regulatory protections.

  • The value of digital and virtual currencies is derived from supply and demand in the global marketplace which can rise or fall independently of any fiat (government) currency.

  • Holding digital and virtual currencies carries exchange rate and other types of risk.

POTENTIAL USERS OF DIGITAL OR VIRTUAL CURRENCIES, INCLUDING BUT NOT LIMITED TO BITCOIN, SHOULD BE FOREWARNED OF A POSSIBLE FINANCIAL LOSS AT THE TIME THAT SUCH CURRENCIES ARE EXCHANGED FOR FIAT CURRENCY DUE TO AN UNFAVORABLE EXCHANGE RATE. A FAVORABLE EXCHANGE RATE AT THE TIME OF EXCHANGE CAN RESULT IN A TAX LIABILITY. PLEASE CONSULT YOUR TAX ADVISOR REGARDING ANY TAX CONSEQUENCES ASSOCIATED WITH YOUR HOLDING OR USE OF DIGITAL OR VIRTUAL CURRENCIES.

If you have a question or complaint, please contact Cash App Support or call 1 (800) 969-1940.

Hawaii
Hawaii customers who choose to open accounts with the Company are advised that the virtual currency or digital currency purchased, whether as an investment, for making payments, or other purposes, may lose value, including the loss of some or all of your original purchase amount.

Louisiana
Please note the following disclosures associated with virtual currency and the exchanging, transferring, or storing of virtual currency through the Company:

  • Virtual currency is not legal tender in the United States, is not backed by the United States government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.

  • Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the value of virtual currency.

  • Transaction in virtual currency may be irreversible, and accordingly, losses due to fraudulent or accidental transactions may not be recoverable.

  • Some virtual currency transactions may be immediately effective when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction.

  • The value of virtual currency may be derived from the continued willingness of market participants to exchange legal tender for virtual currency, which may result in the potential for permanent and total loss of value of a particular virtual currency if the market for the virtual currency declines or collapses for an extended period of time.

  • Any surety bond required by law for the benefit of customers may not be sufficient to cover all losses incurred by customers.

  • Customers should perform research before purchasing or investing in virtual currency.

Please see the Cash App Privacy Notice, which describes how the Company and its affiliates collect, use and disclose personal information.

New York
Please note the following disclosures associated with virtual currency and the products, services and activities the Company performs in connection with the virtual currency trading services offered to you:

  • Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.

  • Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of virtual currency.

  • Transactions in virtual currency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.

  • Some virtual currency transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction.

  • The value of virtual currency may be derived from the continued willingness of market participants to exchange fiat currency for virtual currency, which may result in the potential for permanent and total loss of value of a particular virtual currency should the market for that virtual currency disappear.

  • There is no assurance that a person who accepts a virtual currency as payment today will continue to do so in the future.

  • The volatility and unpredictability of the price of virtual currency relative to fiat currency may result in significant loss over a short period of time.

  • The nature of virtual currency may lead to an increased risk of fraud or cyber attack.

  • The nature of virtual currency means that any technological difficulties experienced by the Company may prevent the access or use of a customer’s virtual currency.

  • Any bond or trust account maintained by the Company for the benefit of its customers may not be sufficient to cover all losses incurred by customers.

The Cash App Terms set out the contractual agreement between you and the Company. The Terms apply to your access to, and use of, the products and services that the Company makes available to you, which includes virtual currency services. The following provisions of the Terms are of particular relevance:

  • You are responsible for securing access to your account and preventing unauthorized virtual currency transactions. Your responsibility and liability for unauthorized transactions, including virtual currency transactions, is more fully described in the Cash App Terms.

  • The Company may provide you with the ability to preauthorize automatic bitcoin purchases. You have a right to cancel your preauthorization for these recurring purchases at any time and initiate the procedure to stop such preauthorized purchases, as more fully described in the “Auto-Invest and Recurring Buys”and “Round-Ups'' sections (Paragraph IX(3)) of the Cash App Terms.

  • The Company may disclose information concerning your account to certain categories of service providers and third parties as more fully described in the “When and With Whom We Share Your Information” section of the Cash App Privacy Notice.

  • You have a right to receive a periodic account statement, account balance valuations, and transaction receipts, and you may do so by logging into your Cash App account, as more fully described in the “Receipts and Account Statements” section (Paragraph XII(1)) of the Cash App Terms.

  • As explained in the Cash App Terms (Paragraph II), the Company may amend the Terms, as well as any other Company rules, policies or disclosures, at any time with notice that the Company deems to be reasonable under the circumstances, by posting the revised version on the Company’s website or communicating it to you through the Company’s products or services.

Tennessee
The Company is licensed by the Tennessee Department of Financial Institutions as a money transmitter. The Tennessee Department of Financial Institutions does not regulate virtual currency. Please note that this license and the required surety bond do not cover the transmission of virtual currency. However, any company that offers to exchange, administer, or maintain virtual currencies for sovereign currency may be subject to state regulation and licensing as well as federal regulation.

Washington

  • Fraudulent transactions may result in the loss of your money with no recourse.

  • The Company may charge a fee when you buy, sell, or convert virtual currency. The fees are calculated and displayed to you at the time you place your order and may be determined by a combination of factors.

  • Virtual currency is not legal tender in the United States, is not backed by the United States government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.

  • Bitcoin transactions are irrevocable and irreversible.

  • The Company is not responsible for any unauthorized, mistaken, or accidental transfers. Should you discover an improper transaction, the Company may take reasonable steps to reverse the transaction, subject to the Cash App Terms (including the Virtual Currency Services section), but the Company is not obligated to take any action, and such actions may be unavailable. All transactions and all platform activity are subject to the Cash App Terms (including the Virtual Currency Services section).

  • As with all electronic transactions, there may be a risk of fraud, cyber attack, or theft. Please do not transmit personal information or money to unknown persons.

After first contacting contact Cash App Support or calling 1 (800) 969-1940, if you still have an unresolved complaint regarding the Company’s money transmission activity, please direct your complaint to the Washington State Department of Financial Institutions. Contact:

Washington State Department of Financial Institutions
Division of Consumer Services
P.O. Box 41200
Olympia, WA 98504-1200
Tel: 1-877-RING DFI (1-877-746-4334)
Email: [email protected]