FernFinG Information Document
KuCoin EU Exchange GmbH ("KuCoin EU")
Information on the Austrian Remote Financial Services Act
(Fern-Finanzdienstleistungs-Gesetz, "FernFinG")
1 Introduction
1.1 The following information is intended to inform users about the remote sale of financial services, but does not replace the contractual agreements as set out in the "General Terms" (available here) and service specific terms.
1.2 This document, together with the references as set out therein, therefore constitutes the information required under Section 5 para 1 FernFinG.
2 About the contractual partner KuCoin EU
2.1 General information
KuCoin EU Exchange GmbH is an Austrian limited liability company with its corporate seat in Vienna, registered with the commercial register of the Commercial Court of Vienna under reg. no. 641084x.
Main business activity: Crypto-asset services provider.
Business address: Am Grünen Prater 2/3rd floor, 1020 Vienna
Place of jurisdiction: Commercial Court Vienna
Website: www.kucoin.eu (the "Platform")
Supervisory authority: Financial Market Authority (FMA), Otto-Wagner-Platz 5, 1090 Vienna
Registered in the Financial Market Authority's company register under https://www.fma.gv.at/unternehmensdatenbank-suche/
2.2 Contact
Phone: +4314350297
Email: support@kucoin.eu
3 Description of the main features of the financial services
3.1 KuCoin EU is authorized as a crypto-asset services provider in accordance with Article 62(1) of Regulation (EU) 2023/1114 (Regulation on Markets in Crypto-Assets, "MiCAR") for the commercial provision of the following crypto-asset services:
− Custody and administration of crypto-assets for clients (Art. 3(1)(16)(a) MiCAR);
− Exchange of crypto-assets for funds (Art. 3(1)(16)(c) MiCAR);
− Exchange of crypto-assets for other crypto-assets (Art. 3(1)(16)(d) MiCAR);
− Placing of crypto-assets (Art. 3(1)(16)(f) MiCAR);
− Providing transfer services for crypto-assets on behalf of clients (Art. 3 (1) (16) (j) MiCAR)
3.2 Custody and administration of crypto-assets: KuCoin EU acts as the custodian of users’ crypto-assets and provides the services of safekeeping, holding and administrating of users’ crypto-assets by controlling the relevant cryptographic (private) key(s) on behalf of users, according to Art. 75 MiCAR ("Custody Service"). Under the Custody Service, the user cannot by themselves control their crypto-assets. Only KuCoin EU holds the means of access to the crypto-assets (e.g., private keys). There is no self-custody of the safekept crypto-assets.
3.3 Exchange of crypto-assets for a sum of money / exchange of crypto-assets for other crypto-assets: The use of the Platform enables the exchange of crypto-assets, including the purchase or sale of crypto-assets. Whenever the user wishes to exchange a crypto-asset for funds or other crypto-assets, a corresponding order must be placed on the Platform. KuCoin EU offers different order types to accommodate varying user preferences and market conditions: "Market Orders", "Limit Orders", and "Stop Orders". Details on these order types, which are executed by KuCoin EU as principal transactions, are described in the relevant service specific terms.
3.4 Provision of transfer services for crypto-assets: KuCoin EU offers services for the transfer of supported crypto-assets available on the Platform. The services are equally provided for crypto-assets transfers from and to the Platform ("External Transfers") and within the Platform ("Internal Transfers"). Details on the various transfer services can be found in the relevant service specific terms.
3.5 Placement of crypto-assets: This service is not currently offered by KuCoin EU.
3.6 For further details on the crypto-asset services offered, KuCoin EU refers to the relevant service specific terms and agreements for the respective service.
4 Total price owed by the user for the financial services
4.1 The transaction fees payable by the user to KuCoin EU for each executed transaction are listed in the fee schedule available here. Users will be informed of the applicable fees before submitting any order on the Platform.
4.2 The transaction fees owed to KuCoin EU are due as soon as KuCoin EU has accepted the order. The fees are payable as part of the resulting transaction. If a different due date is specified in the transaction confirmation, that date shall apply.
5 Risk warning and note on price fluctuations of crypto-assets
5.1 KuCoin EU points out that the use of the Platform and certain transactions carry risks that are beyond the control of KuCoin EU. KuCoin EU accepts no liability for such risks.
5.2 A non-exhaustive list of these risks is set out in the risk disclosure statement.
5.3 Other service specific risks may also be present and where applicable, these are set out in the specific service specific terms.
6 Possible additional taxes and costs not paid or charged by KuCoin EU
6.1 KuCoin EU qualifies its products as value added tax exempt. In the event of any changes to this status, whether due to alterations in legislation or differing interpretations by the tax authorities, any applicable value added tax will be imposed on KuCoin EU’s fees henceforth.
6.2 KuCoin EU may pay the statutory capital gains tax ("KESt") for users who are taxable in Austria. Details can be found in Section 21 of the General Terms (available here).
6.3 KuCoin EU recommends consulting a tax advisor (i) to learn about the tax and economic consequences in connection with using the Platform and holding, transferring, and/or exchanging crypto-assets, and (ii) to ensure that you are able to take all necessary steps to comply with all applicable tax laws when using the Platform.
6.4 All costs incurred for the use of the internet, telephone, and other means of remote communication shall be paid by the user and shall not be borne by KuCoin EU.
7 Information about the right of withdrawal
7.1 As stated in Section 17 of the General Terms, there is no right of withdrawal under Section 8 FernFinG for crypto-assets traded at a distance, as the price of crypto-assets depends on fluctuations in the financial market over which KuCoin EU has no control and which may occur within the withdrawal period (see Section 10 FernFinG).
8 Contractual termination rights
8.1 KuCoin EU is entitled to terminate the user's account or a service at any time with two months' notice. If there are important reasons that make it unacceptable for KuCoin EU to continue the contractual relationship, KuCoin EU may terminate a user's account or a service at any time with immediate effect.
8.2 The user may terminate the entire contractual relationship with KuCoin EU at any time with two weeks' notice. In certain cases, the account may not be terminated. This is the case if (i) the account is subject to freezing, suspension or blocking, (ii) outstanding amounts are owed, or (iii) there is an open order on the Platform. If there are important reasons that make it unacceptable for the user to continue the contractual relationship, the account or a service may be terminated at any time with immediate effect (except in the cases mentioned above).
9 Governing law / place of jurisdiction
9.1 The contractual relationship between KuCoin EU and the user and every transaction shall be governed by and construed in accordance with the laws of the Republic of Austria, excluding (i) the provisions of the United Nations Convention on the International Sale of Goods as well as (ii) the conflict of law rules of Austrian private international law.
9.2 The governing law shall apply only to the extent that it does not restrict any mandatory statutory provisions of the EEA state in which the user resides.
10 Authoritative language
10.1 The Platform, the General Terms, the service specific terms and all related documents are provided and published in various languages. In case of any inconsistency or conflict, the German version shall prevail.
11 Complaints
11.1 Complaints and general enquiries about KuCoin EU's services can be made to the customer support team. A formal complaint can be submitted either by using the standard complaint template (available here ) or by submitting a general enquiry via the live chat function on the Platform. Further information can be found in the Complaint Handling Policy.