Last Updated: June 28, 2026
Asgaya is an experimental, unregulated protocol for peer-to-peer remittances using Bitcoin Cash.
We are:
We are not:
By participating in Asgaya (as a user, merchant, or BCH seller), you are solely responsible for:
Asgaya operates in a legal gray area in most jurisdictions. You accept substantial regulatory risk by participating.
No regulatory approval: Asgaya has not sought approval from financial regulators in any jurisdiction. We have no licenses, no registrations, no government oversight.
Money transmission laws: Many jurisdictions classify remittance services, cryptocurrency exchanges, or payment facilitation as regulated money transmission. Merchants and BCH sellers may be operating illegally depending on local laws.
MiCA “professional basis” threshold (EU): Under the Markets in Crypto-Assets Regulation (MiCA), providing crypto services “on a professional basis” triggers CASP licensing requirements. While occasional BCH selling may fall below this threshold, high-volume BCH sellers could cross into regulated territory without clear guidance on where that line is. Volume thresholds are undefined and may be determined retroactively by regulators.
Know Your Customer (KYC) violations: Asgaya deliberately avoids KYC to remain permissionless. This may violate anti-money laundering (AML) laws in jurisdictions that require customer identification.
Unlicensed financial services: Providing remittance services without appropriate licenses can result in criminal prosecution, not just civil penalties. Prison sentences are possible in some jurisdictions.
Tax evasion risks: Governments may view permissionless remittances as facilitating tax evasion or capital flight. Participants may face investigation even if personally compliant.
Changing regulations: Cryptocurrency and remittance laws are evolving rapidly. What is legal today may be criminalized tomorrow. You accept the risk of retroactive enforcement.
Sanctions and embargoes: Using cryptocurrency to circumvent financial sanctions (even unintentionally) can result in severe criminal penalties in many countries.
Enforcement uncertainty: Regulatory authorities may take unpredictable actions. They may shut down services, seize funds, prosecute participants, or impose fines without warning.
No legal defense fund: If you face legal action, you bear all costs. Asgaya provides no legal support, representation, or financial assistance.
Your complete liability: You—and you alone—are responsible for all legal consequences of your participation. This includes criminal prosecution, civil liability, fines, asset seizure, and imprisonment.
If you are not prepared to accept potential criminal liability, do not participate in Asgaya.
You can lose everything. There is no safety net.
Total loss is possible: Technical failures, smart contract bugs, counterparty default, lost keys, or user error can result in complete and permanent loss of all funds. This is not theoretical—it will happen to some users.
Bitcoin Cash volatility: BCH price can fluctuate 10-20% or more in a single day. The EUR amount a recipient receives in local currency may be significantly different from what the sender intended, even with volatility buffers and stability layer protection (H€/HAu tokens).
No insurance: Funds are not insured by any government deposit insurance scheme, private insurance company, or protocol guarantee fund. When funds are lost, they are gone forever.
No refunds or chargebacks: Blockchain transactions are irreversible. There is no customer service to call, no dispute resolution process, no way to reverse a mistaken transaction.
Counterparty default: Merchants may take cash and refuse to co-sign. BCH sellers may disappear after receiving fiat. Recipients may lose access to funds if covenants abort due to price drops exceeding 7%. Smart contracts enforce rules, but cannot force humans to behave honestly.
Smart contract risk: Covenants are experimental technology. Bugs in CashScript code, unexpected edge cases in contract renewals, or failures in the H€/HAu stability layer could lock funds permanently or distribute them incorrectly.
No one to sue: As a permissionless protocol with no corporate entity, there is no one to hold liable for losses. Contributors have explicitly disclaimed all liability. Courts may have no jurisdiction even if you tried.
Liquidity risk: Even if you successfully receive BCH, you may be unable to convert it to local currency at acceptable rates, or at all, depending on local market conditions.
Only risk funds you can afford to lose completely. Treat participation as an experiment, not a financial service.
While we cannot eliminate risks, we commit to:
Asgaya is provided “as is” with no warranties of any kind, express or implied, including but not limited to:
To the maximum extent permitted by law:
By using Asgaya documentation, tools, or protocol:
We may update this document as:
Check this document periodically. Continued participation after updates means you accept the revised terms.
This document does not constitute legal advice. Consult qualified legal counsel in your jurisdiction before participating in Asgaya.