Washington State Consumer Disclosures
Consistent with RCW 19.230.370 and WAC 208-690-205, please note the following disclosures associated with virtual currency, which is also referred to as digital assets. These are only the specific disclosures required under these Washington laws and are not comprehensive; for full disclosures and terms applicable to your relationships with NYDIG Trust Company LLC (“NYDIG Trust”) and/or NYDIG Execution LLC (“NYDIG Execution”), please refer to your agreements with those entities. The entity that provides you with custody services under a Custodial Agreement, if any, is referred to as “Custodian” below. Defined terms have the meaning given to them in the applicable agreement with NYDIG Trust and/or NYDIG Execution.
Schedule of Fees. Subject to any modifications in your Execution Agreement(s) or Custodial Agreement(s), the following fees and charges apply:
Insurance or Guarantees. No part of the product or service provided to you under the Execution Agreement is insured or guaranteed by an agency of the United States, such as by the FDIC or SIPC. To the extent that you hold digital assets in your custody account with Custodian, such assets are not insured or guaranteed by an agency of the United States, such as by the FDIC or SIPC. However, to the extent that you hold cash in your custody account with Custodian, Custodian holds such cash with U.S. insured banks in a manner that is intended to benefit from FDIC-pass through insurance. This means that to the extent that a U.S. FDIC-insured bank with which Custodian holds your U.S. dollars fails, you may be protected up to the FDIC-deposit insurance limit for such losses. However, to the extent that you hold U.S. dollars in your custody account with Custodian, the loss of such dollars because of a failure of Custodian is not insured or guaranteed by an agency of the United States, such as by the FDIC or SIPC. NYDIG Execution or NYDIG Trust may have its own insurance in relation to any products or services but you should expect that you are not a named beneficiary of such insurance, that such insurance may not pay out or be sufficient to cover any loss, that the insurance may decline to pay out for a loss that NYDIG expected the insurance to cover, or that even if such insurance pays out to NYDIG Trust or NYDIG Execution, no payment is required to be made to you.
Transfers Irrevocable. Transactions in virtual currency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. Cash and digital assets that are sent inconsistently with Custodian’s procedures (for example, to the wrong addresses) may be irretrievable.
Liability. Generally, Custodian is not liable for any loss, claim, damage or other liability, including liability for unauthorized, mistaken or accidental transfers, unless it was caused by Custodian’s gross negligence, bad faith or willful misconduct. For example, if someone unauthorized accesses your account by impersonating you, Custodian will not be liable. After becoming aware of any unauthorized, mistaken, or accidental transfer, you must provide prompt written notice to Custodian. Custodian will work with you in good faith to investigate any unauthorized, mistaken, or accidental transactions or other errors.
Fraud and Cyber Risk. The nature of virtual currency may lead to an increased risk of fraud or cyber attack and virtual currency value may be irretrievably stolen.