This disclaimer should be read together with the service agreement of the platform. Simply put, we hope that when you trade on our platform, you can understand the relevant important compliance issues and liability clauses.
In order to maintain a sound and compliant digital asset trading platform, we have established and implemented a series of anti-money laundering, anti-terrorist financing, and trade and economic sanctions programs, and made a statement of relevant liability clauses. We are committed to promoting legal and transparent business activities and maintaining a good reputation among users, regulators and the digital asset industry.
- Regulatory environment
We understand that regulators have adopted a variety of methods for the supervision and regulation of digital assets, including the definition or classification of digital assets as virtual financial assets (Malta), convertible virtual currency (FinCEN in the United States) or virtual goods (Hong Kong). As a trading platform, we believe that all digital assets provided on the platform belong to an innovative alternative asset category. Therefore, digital assets should not be called money or currency.
Digital assets are not money or legal tender. Digital assets such as Bitcoin and Litecoin are not backed by any government or central bank. At different times, we may have some insights into the supervision methods adopted by various government agencies; however, we will always fully comply with the rules and regulations of the countries in which we operate. At the same time, we regularly discuss with regulators and peers the best way to supervise digital asset business.
We cooperate with government agencies and comply with applicable regulations. As a good corporate citizen, law enforcement agencies may require us to provide information, and if the law allows law enforcement investigations to track down and prevent illegal activities, we will provide assistance. This also means that our platform is only suitable for law-abiding customers. We hope to provide you with services. At the same time, we also hope that you can act legally and legally on our platform.
In addition, Biking Exchange complies with all laws of all countries or regions regarding blockchain-encrypted digital assets. Our services are not open to residents of the following countries or regions: Afghanistan, Burundi, Belarus, Central African Republic, Congo, Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region, Singapore, Malaysia, Ethiopia, Guinea, Guinea-Bissau, Iraq, Iran, Democratic People’s Republic of Korea, Lebanon, Sri Lanka, Libya, Serbia, Sudan, Somalia, South Sudan, Syrian Arab Republic, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, United States, Venezuela, Yemen, Zimbabwe, Cuba, United States (including all United States territories such as Puerto Rico, American Samoa, Guam). This list of excluded countries or regions may change and may vary for different services.
- Our anti-money laundering/anti-terrorist financing program
Through a risk-based multi-level control system, we have designed our anti-money laundering and anti-terrorist financing programs to reasonably prevent money laundering and terrorist financing.
The first layer of the program includes strict user identification procedures, including verification of the identities of individual and corporate users. In addition to obtaining identification documents, we also obtain information on beneficial owners/natural persons of their institutions from users who are not natural persons, which is in line with international standards, such as the requirements of the Financial Action Task Force (FATF).
The second layer includes risk-based system controls to ensure that additional customer due diligence is performed. In order to achieve this, we include users (including beneficial owners) in the Hong Kong Special Administrative Region Government Bulletin, the "Office of Overseas Assets Control (OFAC) Sanctions List" and the "UN Security Council Sanctions List" and other sanctions lists published institutions/person lists filter. We can also screen other lists as appropriate to protect our reputation and customers.
The third layer includes continuous monitoring of suspicious activity. If we suspect or have reason to suspect that there is suspicious trading activity, we will submit a suspicious trading activity report to the local regulatory agency as appropriate. Usually, suspicious transactions are inconsistent with legitimate business or personal daily transaction activities known to customers.
Digital asset transactions are considered to have high risks. Digital assets are not backed by any government or central bank. The risks of trading or holding digital assets can be high. You should carefully consider whether interaction, holding or trading digital assets is suitable for you based on your financial situation.
6.1 Warranty disclaimer
To the fullest extent permitted by applicable laws, this service, the materials of the Biking Exchange, and any products, services or other items provided by Biking Exchange or on behalf of Biking Exchange are "as is" and "available" Provided on a basis.
At the same time, Biking Exchange expressly waives, and you also waive, all other guarantees of any kind, whether express or implied, including but not limited to marketability, suitability for a particular purpose, ownership or non-infringement or due to performance process or transaction The guarantee arising from the use of the process or transaction.
Without limiting the above provisions, Biking Exchange does not make any statement or statement about the accuracy, completeness, reliability, validity, error-free or virus-free or other harmful components of the website, service or Biking Exchange materials. ensure. Biking Exchange does not guarantee that any order will be executed, accepted, recorded or kept in an uncompleted state. Except for the explicit statement stipulated in this agreement, you hereby confirm and agree that you have not relied on any other written or oral statements or agreements in using and obtaining this service.
Without restricting the above provisions, you hereby understand and agree that Biking is not responsible for any loss or damage caused by or related to the following reasons:
(A) Inaccuracies, defects or omissions in the price data of the investment target;
(B) Any errors or delays in such data transmission;
(C) Interruption of such data,
- Any damage caused by the actions, omissions, or violations of this agreement by other users.
6.2 Disclaimer of damages and limitation of liability
To the fullest extent permitted by applicable laws, the Biking Exchange, its affiliated institutions, and their respective shareholders, members, directors, officers, employees, lawyers, agents, representatives, suppliers or contractors shall, under any circumstances, be responsible for the cause. This service, any performance or non-performance of this service, or any incidental, indirect, special, punitive, and consequential caused by other products, services or other projects provided by or on behalf of the Exchange and its affiliates Or similar damages or liabilities (including but not limited to the loss of data, information, revenue, profits or other business or financial benefits), whether it is based on contracts, regulations, strict liability or other theories, even if the Biking Exchange has Be informed that there is a possibility of damage, unless the final judicial ruling is that such damage was caused by gross negligence, fraud, deliberate misconduct or deliberate violation of the law by the Biking Exchange. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation may not apply to you.
Notwithstanding the foregoing provisions, under any circumstances, the Biking Exchange, its affiliated institutions, and their respective shareholders, members, directors, officers, employees, lawyers, agents, representatives, suppliers or contractors will be affected by the Biking Exchange Liability arising from any performance or non-performance of services provided by or its affiliates, or on behalf of the Exchange or related parties, or any other products, services or other items, whether in accordance with contracts, regulations, strict liability or Other theories will not exceed the amount of fees that you paid to the BiKing Exchange under this agreement before the occurrence of the event that caused the liability claim.