Revised January 13, 2026
The examples listed below are not exhaustive, and we reserve the right to modify or update the lists at any time by posting a revised version to our website. The revised version will be immediately effective upon posting.
Prohibited Activities List
If we determine, at our sole discretion, that you are engaged in any of the activities listed below, or have facilitated or helped others to do so, or are otherwise engaged in activities that are illegal, may harm others, our reputation, or operations, or violate our or others' rights, we may deny, suspend, or terminate your access to Spifex's Services:
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Any activity that violates any law, statute, regulation, or sanctions programs applicable in the European Union or in any jurisdiction where Spifex or its third-party partners operate, including but not limited to the EU Sanctions List maintained by the European Commission or Council Regulations regarding restrictive measures.
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Using unverifiable or fictitious identities, applying anonymously or under fictitious names, or maintaining accounts that cannot identify the true owners or stakeholders.
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Using business accounts for personal purposes, including but not limited to personal spending, private transactions, or any use that is inconsistent with business activities as defined under the applicable EU regulations.
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Engaging in third-party payment processing, including but not limited to facilitating or processing payments on behalf of third parties without the proper regulatory authorization in the European Union.
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Criminal activity or activities with suspicion of criminal conduct, including activities related to fraud, money laundering, or terrorist financing as defined under the EU Anti-Money Laundering Directive (AMLD) and other applicable criminal law frameworks in the EU.
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Using shell banks or financial institutions with no physical presence in any country, that are not licensed by the appropriate financial regulatory bodies under EU law.
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Facilitating Money Services Businesses (MSBs), including but not limited to money transfer, currency exchange, cheque cashing, or similar services without the proper license under EU Payment Services Directive (PSD2) or equivalent local regulations.
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Involvement in gambling, betting, lotteries, or games of chance that are prohibited by law in the EU, including activities involving the development of gambling software or unlawful online gambling platforms, subject to the EU Gambling Regulation.
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Issuing or facilitating payday loans, high-interest loans, or any lending practices that are not in compliance with the EU Consumer Credit Directive (CCD) and other related regulations.
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Engaging in marijuana-related activities, including the cultivation, distribution, sale, or transport of marijuana, and any activities in violation of EU Drug Control Regulations.
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Sexually explicit services such as prostitution, pornography (child or adult), adult entertainment, escort services, and other illegal or explicit adult services, as defined under the EU Anti-Trafficking Directives.
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Engaging in illicit drug trafficking, distribution, or manufacturing of drug paraphernalia, including providing tools or services aiding in illicit drug trade, subject to the EU Drug Policy.
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Manufacturing, sale, or distribution of Schedule I controlled substances or manufacturing of Schedules II-V substances without proper pharmaceutical licenses, under the EU Narcotic Drugs Regulation.
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Business models indicative of fraudulent schemes, such as Ponzi schemes, pyramid selling, “get-rich-quick” models, or any deceptive business practice contrary to EU Consumer Protection Laws.
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Promoting terrorism, hate, racism, or discrimination, including activities that promote violence, abuse, harassment, or any unlawful conduct that infringes upon the fundamental rights protected by the EU Charter of Fundamental Rights.
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Sale of personal data without anonymization or aggregation, violating the EU General Data Protection Regulation (GDPR).
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Manufacturing of counterfeit goods or goods that infringe on intellectual property rights, including activities violating the EU Intellectual Property Laws.
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Resale, scalping, or distribution of event tickets in violation of EU Consumer Protection and Fair Trading Laws.
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Issuance or use of virtual cards at a significant volume without a legitimate business purpose, particularly where this activity might trigger concerns under EU Financial Regulations.
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Trade, sale, or distribution of illegal products, or products and services that are imported or exported illegally in violation of EU Customs Law.
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Activities involving pseudo-medical or pseudo-pharmaceutical companies that offer treatments or products outside the scope of legitimate healthcare services, as defined under EU Health Regulations.
Ineligible Users: The following entities are ineligible for Spifex Services:
- Securities brokers or broker-dealers as per EU Markets in Financial Instruments Directive (MiFID II).
Restricted Activities List
If we determine, at our sole discretion, that you are engaged in the activities listed below, or have facilitated or helped others to do so, you may be required to provide additional information or documentation, or may be deemed ineligible for certain Services:
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Dealing in cryptocurrency, digital assets, or digital currencies, unless specifically authorized under EU Crypto Asset Regulation (MiCA) or applicable national laws.
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Providing licensed financial services, such as services of money transmitters, investment funds, or brokers, unless fully compliant with EU Investment Services Regulations.
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Selling "gray market" goods or services, which are products or services not intended for commercial resale under EU Distribution Laws.
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Manufacturing, sale, or distribution of weapons (including firearms, ammunition, explosives), in violation of EU Firearms Regulation.
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Production, sale, or distribution of controlled substances (Schedule II-V), as defined under EU Controlled Substances Laws and the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA).
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Activities identified as high-risk by Spifex, including but not limited to industries with high potential for financial crime, such as online gambling platforms, certain e-commerce platforms, or adult services.
Please contact us if you are unsure whether your business or activities are permitted by Spifex in the European Union.