Ziglu Limited

Limits on the record

• Voluntary Undertaking - 13 June 2025

  Cease regulated and registered business 1. The Firm undertakes that it will cease conducting all regulated activity and registered business, including: a. issuing electronic money or carrying on a payment service in the United Kingdom, or purporting to do so, pursuant to the Electronic Money Regulations 2011; and b. acting as a cryptoasset exchange provider or custodian wallet provider in the United Kingdom, or purporting to do so, pursuant to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. Assets restriction 2. The Firm must not, without the prior written consent of the Authority, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets, and any funds or cryptocurrency it holds for, or to the order of, its customers or investors (whether in the United Kingdom or elsewhere), whether held by the Firm as at the Effective Date of this Voluntary Undertaking or acquired thereafter. 3. The Firm must not accept any further funds from customers. 4. The assets restriction at paragraph 2 does not apply to: a. monetary payments or the disposal of assets made by the Firm in the ordinary course of business, amounting to no more than £3,000 whether as a single transaction or a combination of related transactions; and b. usual and proper salary payments made by the Firm (and which had been agreed prior to the imposition of the Voluntary Undertaking). 5. For the purposes of paragraph 4, the following payments would not be regarded as payments made in the ordinary course of business: a. Payments of unusual or significant amounts to the Firm’s controllers, shareholders, directors, officers, employees or any connected persons (whether as a single transaction or a combination of related transactions). b. The making of any capital distribution. c. The making of any gift or loan by the Firm to any party. d. Payments made as part of any financial restructuring or reorganisation of its business, of from the sale of any part. 6. Further, the business restriction at paragraph 1 and the assets restriction at paragraph 2 do not prevent customers of the Firm from withdrawing: a. funds that have been safeguarded in accordance with regulation 20 of the Electronic Money Regulations 2011; and b. cryptoassets that are held outside of the Boost Accounts. 7. For the avoidance of doubt, the assets restriction at paragraph 2, and the restriction on accepting new funds from customers at paragraph 3, do not prevent the Firm from receiving funding from an investor.

• The firm must not take any actions with respect to the Boost Accounts, as stipulated in the restrictions, without prior written consent from the Authority.

  Restriction 1. The Firm must not, without the prior written consent of the Authority, take any action which has the effect of disposing of, withdrawing, transferring, dealing with or diminishing the value of the Boost Accounts, for itself on behalf of another. Only the Firm can seek such written consent from the Authority (any such request to be accompanied by appropriate supporting evidence) pursuant to the terms of this Direction. Restriction 2. The Firm must not, without the prior written consent of the Authority, accept any further deposits from Boost Customers into the Boost Accounts.