PRIVACY POLICY
1212 CAPITAL INC, with the registered seat at Ricardo Arias Street, Banking Area, Advanced Tower, 1st Floor, Panama City, Panama (the “Company”, “1212 CAPITAL”) is the operator of the on-chain investment and structuring framework (the “Framework”) and the website: https://www.1212.capital/ (the “Website”).
1212 CAPITAL collects some Personal Data from the Website, the Framework, and from its Users and therefore is responsible for the use and protection of this data.
For what purposes 1212 CAPITAL collects personal data
1212 CAPITAL will use personal, confidential and/or sensitive data of Users for one or more of the following primary purposes:
a. Provide the Services required by Users;
b. Comply with due diligence and the Know Your Customer (“KYC”) policies. 1212 CAPITAL may use the information collected, as needed or requested by regulators, government entities, and law enforcement to comply with applicable laws and regulations;
c. Provide customer support: 1212 CAPITAL may use the information to provide customer support and answer inquiries about the Services;
d. Safety and security: 1212 CAPITAL may use data to protect against, investigate, and stop fraudulent, unauthorized, or illegal activity. 1212 CAPITAL may also use it to address security risks, solve potential security issues such as bugs, enforce our agreements, and protect Users and the Company.
e. On-chain operations and framework management: 1212 CAPITAL may process blockchain wallet addresses, transaction data, and on-chain activity data to operate, monitor, and manage the Framework, execute strategies through Smart Contracts and Third-Party Protocols, enforce governance rules, and maintain the integrity of Wallet Architectures and multisignature configurations;
Types of data collected
1212 CAPITAL will only request personal data that is strictly necessary for the provision of the Services, respecting the principle of proportionality which states that “only data that is adequate, relevant and limited to the minimum necessary in relation to the purpose for which it is required shall be requested”.
2.1. Publicly available blockchain data
When a User connects a blockchain wallet to the Website or interacts with the Framework, 1212 CAPITAL collects and logs his/her publicly available blockchain address to learn more about his/her use of the Website and to screen the wallet for any prior illicit activity. Blockchain addresses are publicly available data that are not created or assigned by 1212 CAPITAL or any central party and by themselves are not personally identifying. 1212 CAPITAL is not responsible for the use of any of the blockchains and data processed in the DeFi space. In addition, 1212 CAPITAL may collect and process on-chain transaction data, including transaction hashes, amounts, timestamps, smart contract interactions, and protocol-level activity, to the extent necessary for the operation and monitoring of the Framework and its Implementations.
2.2. Information from Local Storage and other tracking technologies
1212 CAPITAL and its third-party services providers may access and collect information from Local Storage, mobile device ID, cookies, web beacons, and other similar technologies to provide and personalize the Services and features of the Services across sessions. For example, 1212 CAPITAL may use this information to remember the tokens Users import. 1212 CAPITAL may also use this information to learn about Users’ preferences, use of the Services, and interactions. Information 1212 CAPITAL collects from these technologies may include things such as browser type, referring/exit pages, operating system, device or browser language, and other device information. 1212 CAPITAL and analyses these User journeys collectively, in the aggregate, to improve the User’s experience.
2.3. Know Your Customer data
For the Users that require the registration process a third-party compliance or verification provider will collect their “KYC” documents.
These data will be of a personal and/or confidential nature, and may be:
● Identification data: full name, gender, place and date of birth, age, personal identity card or passport, e-mail, country of residence, nationality(ies).
● Contact details: landline and/or cell phone numbers, e-mail, physical address, mailing address, post office box.
● Confidential data: politically exposed person, source of income, bank and commercial references, legal entity’s details.
The personal, confidential and/or sensitive data will only be shared when the User has requested services from 1212 CAPITAL and has given his/her consent for the transfer of the corresponding information.
2.4. Correspondence
1212 CAPITAL will receive any communications and information provided directly via customer support, social media, or other official channels. 1212 CAPITAL will record the delivery information or identity documents that Users directly provide (for example name, email, zip code, country, city, residential address, phone number or ID documents, company’s name and details), the responses and interactions with the Services and the Website.
2.5. Information from other sources
1212 CAPITAL may receive information about a wallet address, or transactions made through the Website from service providers to comply with legal obligations and prevent using the Website in connection with fraudulent or other illicit activities.
1212 CAPITAL will never ask to share private keys or seed phrases of wallets. This information is confidential. 1212 CAPITAL may also collect data relating to Wallet Architecture configurations, multisignature signatory information, and governance parameters to the extent necessary for the operation of the Framework and compliance with applicable legal obligations.
Legal basis of processing
1212 CAPITAL may process Personal Data relating to Users if one of the following applies:
Users have given their consent for one or more specific purposes. Note: Under some legislations 1212 CAPITAL may be allowed to process Personal Data until the User objects to such processing (opt-out), without having to rely on consent or any other of the following legal bases. This, however, does not apply whenever the processing of Personal Data is subject to European data protection law (Users under the GDPR Law);
Provision of Data is necessary for the provision of Services to the User and/or for any pre-contractual obligations thereof;
Processing is necessary for compliance with a legal obligation to which 1212 CAPITAL is subject; 1212 CAPITAL may share data during litigation, regulatory proceedings, compliance measures, and when compelled by subpoena, court order, or other legal procedure. 1212 CAPITAL may also share data when it is necessary to prevent harm to our users, our Company, or others and to enforce our agreements and policies;
Processing is related to a task that is carried out in the public interest or in the exercise of official authority vested in 1212 CAPITAL. 1212 CAPITAL may share data to protect against, investigate, and stop fraudulent, unauthorized, or illegal activity. 1212 CAPITAL may also use it to address security risks, solve potential security issues such as bugs, enforce our agreements, and protect our users and project;
Processing is necessary for the purposes of the legitimate interests pursued by 1212 CAPITAL or by a third party. 1212 CAPITAL may share information with service providers and vendors to assist in providing, delivering, and improving the Services.
1212 CAPITAL does not share information with any third parties for marketing purposes.
Business changes. 1212 CAPITAL may transfer or share data with another entity in case of a merger, acquisition, bankruptcy, dissolution, reorganization, asset or stock sale, or other business transaction.
In any case, 1212 CAPITAL will gladly help to clarify the specific legal basis that applies to the processing, and in particular whether the provision of Personal Data is a statutory or contractual requirement. Any questions about this Policy, collection, use, or sharing of data can be asked through the email: contact@1212.capital
Place
The Data is processed at 1212 CAPITAL's operating offices and in any other places where the parties involved in the processing are located.
Depending on the User's location, data transfers may involve transferring the User's Data to a country other than their own.
Retention time
Personal Data shall be processed and stored for as long as required by the purpose they have been collected for.
Personal Data collected for purposes related to the performance of Services or a contract shall be retained until such Services or contract have been fully performed.
Personal Data collected for the purposes of 1212 CAPITAL’s legitimate interests shall be retained as long as needed to fulfill such purposes. 1212 CAPITAL may be allowed to retain Personal Data for a longer period whenever the User has given consent to such processing, as long as such consent is not withdrawn. Furthermore, 1212 CAPITAL may be obliged to retain Personal Data for a longer period whenever required to do so for the performance of a legal obligation or upon order of an authority.
Once the retention period expires, Personal Data shall be deleted. Therefore, the right to access, the right to erasure, the right to rectification and the right to data portability cannot be enforced after expiration of the retention period.
Personal data protection
1212 CAPITAL recognizes the responsibility regarding the processing and protection of information. The established security measures to adequately safeguard information are:
a. TLS encryption;
b. Server level firewall.
c. Security protocols to prevent unauthorized access to information systems;
d. Access control to systems and work equipment;
e. Authentication via user-controlled cryptographic wallets;
f. Data encrypted at-rest and in-transit.
1212 CAPITAL cannot guarantee the complete security of communications through the information systems but can guarantee that all appropriate measures are taken and every effort to protect data is made. 1212 CAPITAL ensures complete confidentiality of the personal and/or confidential information.
Ultimately, Users are solely responsible for maintaining the secrecy of their usernames, passwords and private data. Users shall be careful whenever using the Website.
Third-Party Cookies
1212 CAPITAL uses services provided by Google and other third parties that use tracking technology, such as cookies, and Local Storage, to collect information about the use of the Services and interactions. Users can opt out of having their online activity and device data collected through these third-party services, including blocking cookies in browsers, blocking or limiting the use of an advertising ID, using privacy plug-ins or browsers, using opt-out tools on each device or browser.
The rights of Users
Users may exercise certain rights regarding their Data processed by 1212 CAPITAL. At any time, they may exercise these rights, which cannot be waived, except for the exceptions established in special laws. These rights will not be absolute, since they may not be exercised if there is any judicial or administrative process against the data subject.
In particular, Users have the right to do the following:
a. Withdraw their consent at any time. Users have the right to withdraw consent where they have previously given their consent to the processing of their Personal Data. Nevertheless, 1212 CAPITAL cannot edit or delete information stored on a particular blockchain. Information such as transaction data, blockchain wallet address, and assets held by an address that may be related to the data beyond our control. Because blockchain is a decentralised and/or third-party network, 1212 CAPITAL cannot delete, change or modify Personal Data from such networks. This limitation applies equally to transaction data, wallet addresses, and any other information recorded on-chain through the Framework or its Implementations.
b. Object to processing of their Data. Users have the right to object to the processing of their Data if the processing is carried out on a legal basis other than consent. Further details are provided in the dedicated section below.
c. Access their Data. Users have the right to learn if Data is being processed by 1212 CAPITAL, obtain disclosure regarding certain aspects of the processing and obtain a copy of the Data undergoing processing.
d. Verify and seek rectification. Users have the right to verify the accuracy of their Data and ask for it to be updated or corrected.
e. Restrict the processing of their Data. Users have the right, under certain circumstances, to restrict the processing of their Data. In this case, 1212 CAPITAL will not process their Data for any purpose other than storing it.
f. Have their Personal Data deleted or otherwise removed. Users have the right, under certain circumstances, to obtain the erasure of their Data from 1212 CAPITAL.
g. Receive their Data and have it transferred to another controller. Users have the right to receive their Data in a structured, commonly used and machine-readable format and, if technically feasible, to have it transmitted to another controller without any hindrance. This provision is applicable provided that the Data is processed by automated means and that the processing is based on the User's consent, on a contract which the User is part of or on pre-contractual obligations thereof.
h. Lodge a complaint. Users have the right to bring a claim before their competent data protection authority.
Details about the right to object the processing
Where Personal Data is processed for a public interest, in the exercise of an official authority vested in 1212 CAPITAL or for the purposes of the legitimate interests pursued by 1212 CAPITAL, Users may object to such processing by providing a ground related to their particular situation to justify the objection.
Users under the GDPR Law must know that, however, should their Personal Data be processed for direct marketing purposes, they can object to that processing at any time without providing any justification.
9.1. How to exercise the rights to object
Any requests to exercise Users’ rights can be directed to 1212 CAPITAL through the email: contact@1212.capital. These requests can be exercised free of charge and will be addressed by 1212 CAPITAL as early as possible and always within one month.
Legitimation for data processing
The basis of legitimacy for the processing of personal data carried out by 1212 CAPITAL lies in the Personal Data Protection Law 81 (March 26, 2019) of the Republic of Panama and in the express consent to the processing, storage and / or transfer of such data.
This privacy statement has been prepared based on provisions of the Regulation (EU) 2016/679 (General Data Protection Regulation, “GDPR”) as well. According to GDPR, 1212 CAPITAL is a Data Controller and can act as a Data Processor as well.
This privacy policy relates solely to the Website, the Framework, and the Services of 1212 CAPITAL, if not stated otherwise within this document.
Changes to the privacy policy
1212 CAPITAL may modify the privacy and data protection policies at any time, due to updates and/or legal requirements, when deemed appropriate.
In the event that significant changes are made that affect privacy, notifications will be made through various means of contact, such as emails, a banner on our website, a pop-up or by means of a push notification (for example, through a banner, a pop-up or a push notification), so that the data subject can review and analyze the changes made. It will always be advisable to occasionally review the policies, as minor changes may have been made to the policy.