The X-token is not intended to and, in our view, does not possess any necessary characteristic required to be considered a transferable security, money market instrument, unit in collective investment schemes, a digital currency, commodity, security or any other form of investment in any jurisdiction.
As at the date of this white paper, we are not aware of any applicable registration, approval or licensing requirement in respect of the X-token under Singapore law. This white paper does not constitute a prospectus or offering document and is not a solicitation for investment and does not constitute an offer of shares, debentures, financial instruments, securities, collective investment schemes or other capital markets products. Any decision to purchase X-tokens shall be based on the purchaser’s own judgment and research.
The Issuer reserves the right to (i) make changes to this white paper and any documents linked to the X-token and/or holding and use of X-token including without limitation to ensure compliance with the applicable regulatory requirements and (ii) , do all that is necessary to be in compliance with any regulatory requirements, including but not limited to, interrupting, suspending or ceasing the operations or trading of the X-token if deemed necessary at the Issuer’s sole discretion. It is solely up to you to ensure that no prior or subsequent approval, notification, registration or licence is needed or if such is needed, it is solely up to you to obtain such prior or subsequent approval, notification, registration or licence or require any form in the country where you are a citizen, national, resident or having a similar connecting factor, or incorporated, registered or effectively managed, and the Issuer shall not in any way be liable for any non-compliance of the above by you or any loss or damage that you may suffer as a result.
The X-tokens are not intended to be acquired, held or used by (i) a natural person being a citizen, national, resident or having a similar connecting factor to; or (ii) a juridical person being incorporated, registered or effectively managed and controlled from or within a country, jurisdiction or territory where the private placement or the holding and use of the X-token and/or virtual currency or other tokens at any other moment in time is prohibited by laws, regulations or other practices and policies in the said country, jurisdiction or territory, which is taken to include, but is not limited to the United States of America, or any other jurisdiction where the aforementioned are prohibited PROVIDED ALWAYS THAT it shall be the responsibility of any purchaser, prospective purchaser, or holder of X-tokens to ensure that they are not in contravention of any applicable law, regulation, administrative order, decree, policy, guideline, or practice.
This white paper, the X-tokens and/or the holding, use and trading of the X-token carries no rights, whether express or implied, other than for their use on the X-Projet Network and trading on cryptocurrency exchanges, X-tokens do not represent or confer any ownership right or stake, share or security or equivalent rights, intellectual property rights or any other form of participation relating to the Issuer. X-tokens do not give you any entitlement to acquire any such interest or entitlement in respect of the Issuer.