PEX’s list of prohibited industries includes the following: 

• SDNs or other parties listed on the OFAC Consolidated Sanctions List or internal Company watchlists; 
• Customers whose identities cannot be verified during the customer verification process; 
• Foreign Shell Banks;
• Legal entities whose Ultimate Beneficial Owners (or UBOs) cannot be verified;
• Unlawful/unlicensed Internet gambling organizations and any illegal gambling;
• Unregulated domestic/foreign casinos;
• Unregistered/unregulated charitable organizations;
• Unregistered hedge funds;
• Unlicensed and/or unregistered Money Service Businesses (MSBs);
• Bearer Share companies;
• Pornography and paraphernalia; 
• Mountaintop Removal Mining
• Natural Resource Extraction in UNESCO World Heritage Sites
• Private Prisons and Immigration Facilities
• Firearms and paraphernalia; 
• Marijuana related businesses (includes marijuana-related legitimate businesses; 
• Hemp related businesses to the extent that business is engaged in the growing, processing and manufacturing of Hemp. [NOTE: Retail entities who distribute hemp-related products that are deemed to be legal under the 2018 Farm Bill are not prohibited under this section.]; 
• Any individual or entity that deals in the bulk exchange of virtual currency (ex. Cryptocurrency, Convertible Virtual Currencies (CVC), such as crypto exchanges, dealers, etc.

 

PEX’s prohibited customer activities include the following: 

• Any individual or entity that:
  • Presents forged or false documents;
  • Refuses to cooperate or deliberately obstructs the CIP, CDD or EDD process; or
  • Insists on anonymity
• Violating any law, statute, ordinance, or regulation;
• Purchasing or selling, or to facilitating the purchase or sale of, illegal goods or services, including but not limited to: unlawful sexually oriented materials or services, counterfeit products, unlawful gambling activities, fraud, money laundering, the funding of terrorist organizations, or the unlawful purchase or sale of tobacco, firearms, prescription drugs, or other controlled substances;
• Activity in a manner that any electronic funds transfer network reasonably believes to be an abuse of the card system or a violation of card association or network rules;
• Causing a negative balance;
• Funding or remitting payroll or payroll deposits.

 

Your PEX Account and PEX Services may not be used for any of the following: 

• For any purpose that is unlawful or prohibited by this Platform Agreement or Service-Specific Schedules; 
• For any personal, family, or household use; 
• For any transaction involving an individual, organization, country, or jurisdiction that is blocked or sanctioned by the United States, including those identified on any lists maintained by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) or the U.S. Department of State; 
• Used or accessed by third parties who are not Customer or entity employees, contractors, or agents or who are otherwise unaffiliated with Customer; 
• Copied, modified, adapted or used to create derivative works of or republish the Services; (g) reverse engineered, decompiled, disassembled, or otherwise used to attempt to derive the source code of the Services; 
• Accessed or used for purposes of comparison with or benchmarking against third party products or services or in order to build similar services or competitive services; 
• Used to gain or attempt to gain unauthorized access to the Services; or 
• Used for any purpose not related to the business of Customer or an Entity.