Payward Limited, doing business as ‘ADAM Bit’, has been temporarily registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as a cryptoasset business until 9 July 2021, pending the determination of our application by the Financial Conduct Authority. The digital asset exchange and custody services provided to you by ADAM Bit are unregulated activities in the United Kingdom. In particular, the Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the digital asset activities carried on by ADAM Bit and you will have no recourse to these services in the event of a complaint relating to ADAM Bit.
The Monetary Authority of Singapore (MAS) requires us to provide this risk warning to you as a customer of a digital payment token (DPT) service provider. Before you pay your DPT service provider any money or DPT, you should be aware of the following.