Location Restrictions
Zeta Markets is implementing robust measures to prevent users from Excluded Jurisdictions, including the United States, from accessing the exchange and trading. These efforts aim to ensure compliance with regulatory requirements.
When users connect their wallets from an Excluded Jurisdiction, they will enter Restricted Use Mode. In this mode, users can only browse, cancel orders or withdraw; they may not trade or deposit on the exchange. Restricted Use Mode will remain active as long as the user is connecting from an Excluded Jurisdiction.
Connecting to Zeta from the United States is a violation of our Terms and Conditions. If a U.S. IP address is detected while connected to the exchange, a violation will be recorded. After five violations, the wallet will be permanently placed in Restricted Use Mode.
To exit permanent Restricted Use Mode, you must provide proof to Zeta that you are not a U.S. person.
FAQs
What is an Excluded Jurisdiction?
Excluded Jurisdictions on Zeta Markets are defined in Zeta’s Terms and Conditions. These include:
the United States of America and its territories and possessions (collectively “United States”);
a jurisdiction identified by the Financial Action Task Force (FATF) for strategic AML/CFT deficiencies and included in FATF’s listing of “High-risk and Other Monitored Jurisdictions” accessible at www.fatf-gafi.org;
any other jurisdiction that is the subject of comprehensive country-wide or region-wide economic sanctions by the United States, United Kingdom, European Union, or United Nations; and/or
a jurisdiction in which the Interface and/or Protocol(s) and the use of which are prohibited or would be subject of licensing, permissions or approvals.
Why are Excluded Jurisdictions prevented from using the exchange normally?
Excluded Jurisdictions are prevented from using the exchange to ensure Zeta complies with local regulations regarding the provision of perpetual futures products and to adhere to anti-money laundering control recommendations. We apologize for any inconvenience caused.
How do I know if I’m in an Excluded Jurisdiction?
Check the full list of excluded jurisdictions here. If you’re unsure, feel free to reach out to our support team on Discord.
What can I do in Restricted Use Mode?
In Restricted Use Mode, you can browse the exchange, cancel open orders, and withdraw your funds. You may not execute orders (open or close), and you may not deposit additional funds.
I have been notified that a violation has been recorded. What does this mean?
We have recorded a connection from your account to Zeta from the United States, which is a violation of our Terms and Conditions. After five violations, your wallet will be permanently placed in Restricted Use Mode.
How many violations can I accumulate?
Once five violations are recorded, your wallet will be permanently placed in Restricted Use Mode, restricting your activities to browsing, cancelling orders, and withdrawing, regardless of your connection jurisdiction.
Where can I check my violation count?
You can view the number of violations your wallet has recorded, by clicking on the wallet dropdown on the top right of your screen and selecting Violation History, after connecting to Zeta.
I have five violations. Can I exit permanent Restricted Use Mode?
Once you have accumulate five violations, you have two options: 1. To exit Permanent Restricted Use Mode and continue to use the exchange you will need to prove that you’re not a U.S. person. When presented with the five violations warning select 'KYC' to begin this process.
This process will guide you through how to provide Zeta with the relevant KYC documentation. Individuals must provide basic information including name, residential address, country of residence, a form of identification (national ID or passport), and proof of address (e.g., utility bill or bank statement from the last three months).
Companies must provide incorporation details, including legal name, company number, registered address, and verification documentation (e.g., Certificate of Incorporation). A detailed list of all shareholders or beneficial owners, including their nationalities and percentage ownership, must be provided. Any Ultimate Beneficial Owners (UBOs) with more than a 25% ownership stake must undergo the same KYC process as individuals.
Both individuals and companies must also explain the circumstances leading to the five violations and what changes will ensure they no longer access the exchange from the U.S. Zeta will determine the sufficiency of these explanations at its discretion.
Users who pass the KYC process will have the permanent Restricted Use Mode removed and revert to the normal rules applied to all other wallets. They can theoretically accumulate another five violations and re-enter permanent Restricted Use Mode. Unless there are extenuating circumstances, once a user receives 5 violations for a second time they cannot exit the permanent Restricted Use Mode. 2. To stop using the exchange, close all existing positions and withdraw your collateral from the exchange select 'Request to Close Positions'. By selecting this option you authorize Zeta to close your positions on your behalf through a wallet controlled by Zeta. While Zeta will take reasonable care when closing these positions, it does not guarantee the prices at which they will be closed. Positions will be closed within two business days from the time of the request. Once the positions are closed, you will be able to withdraw your available collateral.
I have been put into Restricted Use Mode incorrectly. What can I do?
Sometimes errors occur in the geolocation function that maps IPs to geographies. If you believe this has happened to you, open a ticket on Discord.
Last Updated: 26 June 2024
Last updated