BTCMAXP Platform Service Agreement
Welcome to use the information publishing service of our platform.
The agreement is concluded between information publisher" (hereinafter “You”) and the platform. In the event that you apply or use the information publishing permission through the relevant interfaces of our website, API our mobile application, it will be deemed that you have carefully read, understood and agreed all the terms and conditions specified in the agreement(hereinafter “the agreement”), including any modification, amendments or changes made at any time and any new clause that may be published in the future. If you refuse to accept the clauses of this agreement, please immediately stop using the platform's information publishing service and apply to the platform to disqualify you from publishing information.
BTCMAX Special Statement
The agreement shall be formally implemented as of the date of promulgation and may be revised or improved from time to time. The modified or improved rules shall be effective upon announced; and if some of the contents in this agreement are inconsistent with the updated version, the latter shall prevail;
As an independent autonomous trading party reviewed and approved by the platform with security deposit paid upfront, the information publisher shall have the information publishing rights to publish information. However, this does not represent that the information publisher is 100% credible, nor does it represent a guarantee relationship between the platform and the information publisher. We also do not make brand or credit endorsement for any rule violations by the information publisher, nor do we bear joint and several liability for any adverse consequences arising from the information publisher;
The information publisher shall ensure that the use of the services under the agreement is solely for legitimate purposes. It is strictly forbidden to use the platform and its facilities to engage in illegal trading practices or improper activities such as money laundering, smuggling, commercial bribery, malicious market manipulation or interference with exchange systems, etc. In the event of any such violations, we shall reserve the rights to take disciplinary measures, including but not limited to, account restrictions, freezing of accounts, dismissal of information publishers, forfeiture of deposits, and reporting to the authorities, etc. and shall not be liable for any loss to you or any third party in the process.
- Scope of Application
The services under this agreement are applicable to users in the following three categories, collectively referred to as "information publishers" below:
1.1 Users who applied for certification via the platform and has officially obtained the “certification of the information publisher” ;
1.2 Users who applied for certification via the platform and under review but have paid security deposit upfront;
1.3 Users who have obtained the "certification of the information publisher", and have applied for disqualification and pending for approval; band with their security deposit still in the platform’s account.
- Service content
After you have applied and passed the platform review, you are qualified to publish information. After officially becoming the platform's information publisher, in addition to your rights as a standard user, you will also enjoy the following services provided by the platform:
- An order matching platform that automatically, and according to pre-established criteria, matches users’ trades with open orders from other users in respect of virtual financial assets (VFA) or virtual financial assets related products.
- Spot services permit you to trade one type of VFA for another type of VFA. You will not be able to predetermine or undertake a trade with a predetermined user. Similarly, an order may be partially filled or may be filled by multiple matching orders arising from different users.
- Additional services permit you to trade derivative products related to VFAs or indices composed of them. These trades are via an order matching platform that automatically, and according to pre-established criteria, match users’ trades with open orders from other users. You will not be able to predetermine or undertake a trade with a pre-determined user.
- C2C – a Peer to Peer matching service, allowing users to exchange their fiat and digital assets. Users are able to buy and sell VFAs from each other without the need of a centralized trusted third party such as an exchange.
- Apply for authentication
To ensure the security of the transaction and verify the identity of the information publisher, the platform provides you with a authentication service for the certification of the information publisher.
3.1 In the process of applying for information publishing rights, you will need to provide the following materials/information: mobile phone number, email number, WeChat ID, name of emergency contact, emergency contact’s number, your relationship with emergency contact, permanent address, household register, proof of address (such as certificate of property ownership, tenancy agreement or utility bill), proof of video (to be recorded according to the template provided) and any other materials as and when required by the platform. During the review, the platform shall not be liable for the accuracy and authenticity on the results of the user identification.
3.2 The specific application process is as follows:
(1) Submit the application materials of the information publisher. For details of the application materials, see section 3.1;
(2) Upon receipt of the certification materials, the platform will perform KYC and Anti-Money Laundering Compliance Review based on these materials;
(3) After passing the platform's review, you need to transfer the agreed amount of security deposit to the security deposit account to of the information publisher, but you will not be able to make any transactions or transfer funds in that account until the information publisher is disqualified. After that, this platform will provide you with the exclusive information publisher "XX identifier" to distinguish it from ordinary users.
3.3 Update of Certification Materials
This application service is an identification service provided by this platform. The information on the identity and application results shall not be modified or cancelled in any circumstances unless otherwise specified once you have completed the application. If identity information changed after completing the application, you may apply to update your certification materials with valid certificate issued by the relevant authorities and the platform will assist you to update the corresponding certification materials.
3.4 Management of Certification Materials
The certification materials submitted to the platform at the time of application will be deemed irrevocably authorized to be retained by the platform. The platform shall not reveal, edit or disclose your certification materials; nor use these personal information for commercial purposes.
3.5 You know and authorize the platform to disclose your relevant information in the following situations:
(1) provisions to the national and administrative authorities;
(2) provisions to our affiliates;
(3)provisions to a third party whom works with the platform to provide relevant services to you (it does not include disclosure of your bank account information);
- Security deposit
4.1 In order to ensure a safe and smooth trading on our platform, once you passed the Compliance Review, you are required to lock a certain amount of assets as security deposit. The requirements for the security deposit amount and asset type shall vary depending on your information publishing rights on the platform, or whichever prevails in the user’s personal information certified by the platform.
4.2 The platform reserves the right to deduct your security deposit in part or in whole, if the following situations are triggered by the information publisher:
(1) The information publisher has a dispute in the course of a transaction, and is ruled to be at fault by the platform and shall bear the responsibility to the corresponding obligations, but the information publisher did not cooperate despite the notification and caused the user to suffer asset loss;
(2) The information publisher has severely or repeatedly violated the <Platform Management Rules and Compensation> and was subject to the corresponding implementation rules by the platform;
(3) The information publisher has used the platform and its facilities to engage in illegal trading practices or improper activities such as money laundering, illegal arbitraging, malicious market manipulation or interference with trading systems, etc.
(4) The information publisher has unauthorized use of BTCMAX branding to conduct false propaganda or malicious misleading behavior that has severely damaged the reputation of the platform;
(5) The information publisher has unauthorized use of multiple cards in the name of other persons to collect or pay for other illegal purposes such as money laundering, causing damages to the relevant users or third parties;
(6) The information publisher has an abnormal order pending appeal but was uncontactable to other external reasons (such as being detained by the police);
(7) The information publisher has other violations of this agreement or any legal documents or trading rules on the Platform;
(8) Failure to report to the platform in a timely manner in accordance with regulations after the collection and payment method is frozen;
(9) In the unauthorized cross-platform transaction, the information publisher kept or set up the payment and payment accounts of other platforms as the same payment and payment accounts on this platform, and failed to effectively isolate the risk funds, resulting in the freezing of other user accounts on this platform. ;
(10) Other circumstances as defined by the platform on reasonable judgment that require deduction of the security deposit.
4.3 The specific deduction amount shall be determined according to the severity of the actual impact consequences upon assessment from the platform’s risk control team
(1) Under normal circumstances, the deduction shall be limited to compensate the actual loss of the affected user. However, if the compensation exceeded the security deposit amount, we reserve the right to deduct all existing security deposits and request for additional security deposit. The additional amount is subject to the final confirmation of the platform.
(2) We reserve the right to deduct the full amount of security deposit if the following special circumstances have been found and verified by the platform:
(a) The platform has reasonable evidence to prove that the information publisher has directly participated or assisted in money laundering or other illegal and improper activities;
(b) It was verified that OTC transactions made on platforms with inadequate basic KYC risk-control capabilities were found be related to money laundering activities;
(c) Failing to retain KYC or basic information of counterparty when performing transactions via private or public community groups which caused illegal assets inflow into the platform;
(d) The information publisher’s payment has caused the bank card of three or more users to freeze and has refused to co-operate;
(e) The information publisher using a bank account to receive payment, and the bank account has been frozen for many times but has not been reported to the platform in accordance with regulations; or its bank account has been frozen and not reported, causing serious losses to other users of the platform or adverse consequences.
- Cancellation of certification of the information publisher
5.1 If the information publisher wishes to cancel the certification on their own accord, they must submit application to cancel the certification of the information publisher. Upon receipt of the application to cancel, if the information publisher is not engaged in any unresolved disputes or have any bad records, the platform will complete the cancellation within 2 working days and arrange to unlock your available balance assets in your security deposit accordingly.
5.2 If any of the following situations arise, the platform reserves the right to unilaterally cancel the certification of the information publisher:
(1) repeatedly complained by platform users in past transactions;
(2) false information was submitted in the certification material;
(3) displayed fraud or other dishonest behavior in the transaction; and malicious smearing of the platform;
(4) Failure to cooperate with the customer service of the platform to process the order or deliberately delay the customer service in the order processing;
(5) Maliciously exploiting the vulnerability of the platform for profit;
(6) Renting or buying or selling someone else's bank account for transactions, and determined by the platform to be suspected of money laundering, it will directly disqualify your information publisher; if there is conclusive evidence that you are directly involved in money laundering, we will directly report to the relevant judicial authorities ;
(7) It was verified that the information publisher has been suspected of money laundering activities when arbitrarily transacted on a platform with basic KYC risk-control capability or OTC community that pose to be high-risk, the platform reserves the right cancel the certification of the information publisher directly In the event if the information publisher and other users’ account are being frozen, in addition to disqualifying the information publisher and deducting the security deposit, the information publisher shall have to assist other users to defreeze their accounts;
(8) For publishers of cross-platform OTC transactions without authorization, in order to prevent you from introducing illegal funds from off-market sources into this platform, please do a good job of preventing and controlling risks such as KYC and AML of counterparties; The funds are segregated, and in the cross-platform transactions, do not use or set up the same payment and payment account as BTCMAX platform. If the information publisher fails to segregate the payment and collection accounts in the cross-platform transaction, which causes the platform user to freeze, we will have the right to cancel the certification of the information publisher directly
(9) After verification by the platform, the receiving and payment account of the information publisher has been frozen for several times and failed to report to the platform as required;
(10) Violating this agreement or other relevant rules of this platform;
(11) Any other acts that do not conform to public order, fair trade or other violations of laws and regulations as deemed by the platform.
Limitation of Liability and Exemption
As an information publisher, you should read and abide by the following limitation of liability and exemptions or restrictions, including the exclusions and limitations as stipulated under the <User agreement and Privacy Statement> of the platform:
6.1 In order to ensure the security of your own transactions and assets, you must strictly conduct transactions according to the process and rules, and verify the identity of the counterparty in accordance with KYC and AML requirements; otherwise you may face risks such as asset freeze due to suspicions of criminal activities and the platform shall not be liable for any loss of assets.
6.2 The platform solely provides information matching services for digital asset C2C transactions on which the sale and purchase behavior are independent and spontaneous transactions from the users. The platform does not participate in the entire transaction process and any loss of assets / possible risks due to the violations of trading rules and agreement shall be borne by the users. We also do not make brand or credit endorsement for any rule violations by the information publisher, nor do we bear joint and several liability for any adverse consequences arising from the information publisher.
6.3 In order to prevent criminals from using the platform to engage in money laundering, illegal arbitraging, etc., the information publisher should avoid engage in off-site OTC transactions that will bring about illegal asset inflow into the platform
6.4 The information issuer shall make its own risk identification and control of the counterparty of the transaction and the effective isolation of the capital account when withdrawing tokens from cross-platform OTC transactions without authorization.
6.5 If it is verified that user is suspected of carrying out illegal or unethical behavior(unauthorized use of multiple cards in the name of other persons to perform money laundering, or illegally USD transactions in block trades), the platform reserve the rights to take disciplinary measures, including but not limited to, account restrictions, freezing of accounts, dismissal of information publishers, forfeiture of deposits, and reporting to the authorities, etc. and shall not be liable for any loss to you or any third party in the process.
6.6 If the real-name owner of a bank account is involved in a loss due to your leasing or trading of another person's bank account for money laundering, we are not responsible for the consequences of the loss. If it is verified that we have the right to transfer you directly to the authorities, and we shall not be liable for any loss to you.
6.7 If you have previously used another leasing or purchased bank account to transact and that account was frozen by the police but the user who trades with you still accepts the account and had directly credited the funds to that account, the funds shall be frozen. You should actively cooperate and assist to defreeze the funds. If you refuse to fulfill the relevant obligations, the platform reserves the right to deduct your security deposit as compensation for the affected user and shall not be liable for any losses incurred by you.
6.8 In order to facilitate the identity information review, the platform may include links to third-party websites such as online banking websites and they are not controlled by the platform. We make no warranties or commitments about any information, products and services and any other content of any third party website linked to in this platform; You shall be responsible for any liability arising from your use of any services, information and products provided by third party websites .
- Effectiveness of the agreement
7.1 This agreement shall be effective for you from the date of the promulgation, and shall remain effective until the expiration of your information publishing certification upon fulfillment of the corresponding obligations under this agreement;
7.2 If you have any questions about this agreement or have any complaints or comments regarding the handling methods in this agreement, please contact us via email: email@example.com
7.3 The final interpretation and rights of this agreement shall lie in the sole discretion of the platform.