| Before | After | ||
|---|---|---|---|
| 902 | You acknowledge that your interactions with any business shown on the Bitcoin Merchant Map are solely between you and that business. | 902 | You acknowledge that your interactions with any business shown on the Bitcoin Merchant Map are solely between you and that business. 18. |
| 903 | USD-Funded Stablecoin Withdrawals. | ||
| 904 | Cash App may allow you to use your Cash App Balance or, if your Cash App Balance is insufficient to fund the entire amount of the transfer, a linked payment instrument, to pay for a USD-to-stablecoin conversion and transfer service to a compatible external blockchain address (a “Stablecoin Withdrawal”). | ||
| 905 | When making a Stablecoin Withdrawal, you are not purchasing, holding, or controlling stablecoins, and you never acquire title to or ownership of any digital assets. | ||
| 906 | Cash App (or its third-party partners) owns, holds, and controls all stablecoins used to fulfill your Stablecoin Withdrawal, and title to all stablecoins used in the transaction remains with Cash App or its partners at all times prior to delivery to the external address you specify. | ||
| 907 | By using this feature, you authorize and instruct Cash App to (i) debit your Cash App Balance or linked payment instrument in the amount of USD you specify plus any applicable fees, (ii) convert the specified amount of USD (excluding applicable fees) to the applicable stablecoin at the conversion rate displayed at the time of the transaction, and (iii) transmit that converted amount to the recipient address you specify. | ||
| 908 | If a Stablecoin Withdrawal is canceled by us before it is completed, Cash App will return the USD value of the transfer to your Cash App Balance; you will not be provided with stablecoins under any circumstance. | ||
| 909 | You are solely responsible for providing accurate withdrawal instructions to Cash App, as Stablecoin Withdrawals may not be reversed or refunded once they have been initiated on the blockchain. | ||
| 910 | To avoid a total loss of funds, you must verify that you are sending a supported asset to a compatible network and an accurate address. | ||
| 911 | For example, sending a Solana-based stablecoin to an Ethereum address, or sending to an address that does not support the specific asset, will result in a permanent and irreversible loss of funds. | ||
| 912 | Cash App cannot recover funds sent to an incorrect or incompatible address. 19 . | ||
| 913 | Stablecoin Deposits and Automatic USD Conversion You may enable supported stablecoin transfers from an external blockchain address to Cash App for the purpose of funding your Cash App Balance with USD (a “Stablecoin Deposit”). | ||
| 914 | Only supported stablecoins may be used for Stablecoin Deposits to Cash App, and any Stablecoin Deposit you enable must conform to the protocols of the relevant supported network. | ||
| 915 | By enabling a Stablecoin Deposit, you instruct Cash App to receive and convert the incoming stablecoins into USD and credit the equivalent USD value (less any applicable fees) to your Cash App Balance. | ||
| 916 | You acknowledge and agree that you do not acquire, hold or custody the stablecoins on Cash App at any point; rather the stablecoins sent to Cash App are automatically converted to USD upon receipt, and the USD value is credited to your Cash App Balance. | ||
| 917 | Stablecoin Deposits must be recognized by the required number of network confirmations for the relevant supported network and may be delayed before appearing in your Cash App Balance. | ||
| 918 | You are solely responsible for ensuring that all stablecoin deposits are conducted using only supported assets and compatible blockchain networks. | ||
| 919 | For example, sending a Solana-based stablecoin to an Ethereum address, or sending to an address that does not support the specific asset, will result in a permanent and irreversible loss of funds. | ||
| 920 | Cash App does not provide recovery services for tokens sent to incorrect or unsupported addresses. | ||
| 921 | The USD amount credited to your Cash App Balance from Stablecoin Payments may constitute taxable income to you. 20. | ||
| 922 | P2P Bitcoin Conversions (“Receive as Bitcoin”) . | ||
| 923 | You may be able to set automatic purchases of bitcoin each time you receive a peer-to-peer ("P2P") fiat transfer into your Cash App Balance. | ||
| 924 | If you enable P2P Bitcoin Conversions, you authorize and instruct the Company to automatically debit a pre-selected percentage of incoming P2P fiat payments from your Cash App Balance to purchase bitcoin on your behalf. | ||
| 925 | The conversion will occur at the then-effective Conversion Rate at the time of the incoming P2P payment. | ||
| 926 | The price of bitcoin may vary between the time a P2P transfer is initiated and the conversion happens. | ||
| 927 | Cash App may set minimum transaction requirements for P2P Bitcoin Conversions or limit the amount of P2P conversions you can perform. | ||
| 928 | You may disable or adjust your conversion percentage at any time, but we may be unable to stop a pending conversion once a transfer has begun. | ||
| 929 | Cash App may cancel or modify any P2P Bitcoin Conversion for any reason in its sole discretion. | ||
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