Laws around digital assets are nascent, complex, rapidly evolving and vary across jurisdictions. Potential liability can arise as a result of transfers to citizens or residents of countries whose laws prohibit or restrict the transfer, purchase or use of such assets.
The United States is one such jurisdiction which places restrictions on transfers of classes of digital assets to its citizens and residents.
To protect against potential liability, Himalaya Coin has been developed to include a revolutionary time-lock feature which will automatically restrict a transfer of Himalaya Coin from any non-whitelisted Ethereum address for a period of 366 days from the date and time it was received in such address (the "Restricted Period") unless the relevant Ethereum address has been verified and "whitelisted".
Exceptions to the rule.
The Restricted Period feature is not applicable to transfers of Himalaya Coin Credits made within the Himalaya Exchange or the Himalaya Pay network. The Restricted Period only applies to transfers between Ethereum addresses outside the Himalaya Ecosystem which are not whitelisted.
The Restricted Period feature is applicable only to Himalaya Dollars and Himalaya Coins, not to any other tokens in your Ethereum address.
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