Legal Information

The VOW Ecosystem Foundation is an independent foundation established to support the development, stewardship, governance, education, and growth of the VOW ecosystem and related open protocols.

Ownership, holding, acquisition, use, transfer, or staking of VOW tokens, vCurrencies, or any other digital assets within the ecosystem does not constitute ownership of the Foundation, its assets, intellectual property, reserves, treasury, or any affiliated company. Such digital assets do not represent shares, equity, debt instruments, profit participation rights, voting rights in the Foundation, or any entitlement to distributions from the Foundation unless expressly stated in applicable governing documentation.

The Foundation does not provide investment, financial, legal, tax, or accounting advice. Participation in blockchain networks, digital assets, decentralised protocols, and related technologies involves risk. Users should undertake their own due diligence and seek independent professional advice where appropriate.

Nothing contained on this website constitutes an offer to sell, a solicitation to buy, or a recommendation regarding any security, financial product, or regulated investment.

Acceptance

Acceptance of voucher currencies is determined independently by participating merchants. For further information regarding acceptance, please refer to the Acceptance section within the Voucher Currency® chapter.

European Union (MiCA)

The Markets in Crypto-Assets Regulation ("MiCA") establishes a regulatory framework for certain crypto-assets and crypto-asset service providers within the European Union.

The VOW Ecosystem Foundation does not provide legal advice regarding the classification of any digital asset under MiCA or any other regulatory framework.

The VOW ecosystem has been designed around the concept of transferable discount rights and commercial voucher currencies. The whitepaper describes voucher currencies as rights to obtain discounts against future purchases of goods and services from participating merchants.

Voucher currencies are not intended to represent:

• money;
• electronic money;
• deposits;
• claims against any issuer;
• claims against any treasury;
• stablecoins;
• securities;
• ownership interests;
• rights to profits, revenues or dividends.

Participants are responsible for obtaining independent legal, tax and regulatory advice regarding the treatment of VOW, voucher currencies and any related activities within their own jurisdiction.

Regulatory frameworks continue to evolve and the legal treatment of digital assets may differ between jurisdictions and over time.

Voucher / VOW Currency

Names such as VOW Dollar (v$®), VOW Pound (v£®), and VOW Euro (v€®) are ecosystem brands and registered trademarks. They are not intended to indicate legal tender status, electronic money status, stablecoin status, or any claim against a fiat currency reserve.

These voucher currencies represent transferable discount rights issued and accepted within a commercial voucher ecosystem. They are not redeemable for fiat currency, do not constitute deposits, do not provide claims against any issuer, treasury, foundation, merchant, or participant, and are not intended to maintain parity with any official currency.

The economic purpose of voucher currencies is fundamentally different from that of stablecoins or electronic money. Voucher currencies are designed to facilitate the acquisition and transfer of transferable discount rights. As a result, participants may have little economic incentive to acquire voucher currencies at prices approaching the denomination shown, since the denomination reflects only the discount amount, not a claim on equivalent fiat currency.

Where voucher currencies are traded on decentralised exchanges or secondary markets, any market price is established independently by market participants through supply and demand. Neither the VOW Ecosystem Foundation nor any ecosystem participant guarantees, maintains, targets, supports, stabilises, or seeks to achieve any particular market value, exchange rate, or fiat currency equivalence.