This risk disclosure and disclaimer should be read together with Bitdu's user agreement. We hope that when you trade on our platform, you can understand the relevant important risks and compliance issues.
1. Purpose
In order to maintain a sound and compliant digital asset trading platform, we have established and implemented a series of anti-money laundering and anti-terrorist financing plans. We are committed to promoting legal and transparent business activities and maintaining a good reputation among users, regulators and the digital asset industry.
2. Business Model
We are a global digital asset trading platform, or trading market, where traders trade as buyers and sellers and are usually referred to as market dealers and market acceptors. For the sake of clarity, the buyer and the seller trade with each other, and Bitdu does not participate in the actual transaction.
Disclosure: The transaction is risky. The risk of loss in trading or holding digital assets may be high. Therefore, you should carefully consider whether you are suitable for trading based on your financial situation.
3. 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 convertible virtual currencies (FinCEN in the United States) or virtual commodities (Hong Kong). As a trading platform, we believe that all digital assets provided on the Bitdu platform belong to an innovative alternative asset category. Therefore, digital assets should not be called money or currency.
Disclosure: 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.
4. 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.
4.1 Including 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).
4.2 Including risk-based system control 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.
4.3 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.
The above are the main components of our compliance program. However, the most important link of these multi-level risk control systems is our leadership team and employees, including anti-money laundering/risk control personnel who perform training, supervise and develop a good compliance culture.
5. Risk
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. Contact
If you have questions about our customer due diligence control or need our help, please feel free to use online chat or email to support@bitdu.com