Section IX governs the terms applicable to Bitcoin and other virtual currency transactions within Cash App, establishing conditions for buying, selling, and transferring virtual currency.
This analysis describes what Cash App's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
Virtual currency services within a consumer financial platform engage a distinct regulatory framework including FinCEN's BSA/AML requirements, state money transmitter licensing, and potentially SEC jurisdiction depending on the classification of specific virtual currency products. The terms applicable to virtual currency transactions may differ materially from those applicable to fiat currency services.
Interpretive note: The full text of Section IX was not reproduced in the provided document excerpt; the characterization is based on the section title and standard virtual currency service terms in comparable consumer fintech agreements.
The updated terms change how Cash App Tag purchase fees are calculated and disclosed. Rather than a fixed $25 fee, the purchase price now ranges up to $250 and varies based on the specific tag selected and the customer's account type. The terms state that 'the specific fee amount is disclosed before you complete your Cash App Tag purchase,' meaning the final price appears at checkout. Additionally, the terms now extend Cash App Tag eligibility to Children using Sponsored Accounts, whereas the prior language explicitly prohibited Children from requesting, receiving, or using Tags in connection with Sponsored Accounts. You can review the specific fee before completing a purchase, and parents authorizing Sponsored Accounts should understand that their child may now access Cash App Tag functionality within the limitations set by the account sponsor.
View change record →The updated terms introduce a new Bitcoin Auto-Withdrawal feature that lets users authorize recurring, automated transfers of bitcoin from their Cash App balance to an external wallet on a schedule they choose. The terms state that these transfers operate subject to the same daily and rolling transfer limits, identity verification, and compliance screening as manual withdrawals, and are irreversible once broadcast to the blockchain. The revised language also establishes that funds from external sources will be subject to withdrawal restrictions for a minimum of 7 days and as long as 60 days, replacing the prior language stating restrictions would apply 'until fully settled'. Users can cancel or modify Auto-Withdrawal schedules through the app at any time, but Cash App states it cannot stop transfers already initiated at the time it receives a cancellation request.
View change record →The updated terms establish a new pathway for self-employed individuals to accept commercial payments without opening a business account, but impose significant compliance obligations. Users must provide a nine-digit Social Security Number, accurately tag payments as 'Earnings' or 'Personal', and comply with federal tax reporting requirements, including potential 24% backup withholding if SSN is not on file. Misdesignating payments to avoid tax thresholds can result in account suspension or termination. You can enroll in the optional Earn in P2P service by completing identity verification and providing your SSN, but you should consult a tax advisor regarding your specific tax obligations.
View change record →Addition of explicit virtual currency services provision indicates Cash App's expanded offerings in cryptocurrency/Bitcoin trading, requiring separate terms disclosure.
View full change record →Under Section IX, users who access Bitcoin or other virtual currency features within Cash App are subject to specific terms governing those transactions, including conditions on purchases, transfers, and applicable fees. Virtual currency transactions are not covered by FDIC insurance or Regulation E protections applicable to fiat prepaid account transactions.
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"IX. Virtual Currency ServicesExcerpt from Cash App's Terms of Service
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Virtual currency services within a consumer financial platform engage a distinct regulatory framework including FinCEN's BSA/AML requirements, state money transmitter licensing, and potentially SEC jurisdiction depending on the classification of specific virtual currency products. The terms applicable to virtual currency transactions may differ materially from those applicable to fiat currency services.
Under Section IX, users who access Bitcoin or other virtual currency features within Cash App are subject to specific terms governing those transactions, including conditions on purchases, transfers, and applicable fees. Virtual currency transactions are not covered by FDIC insurance or Regulation E protections applicable to fiat prepaid account transactions.
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