Basic Rule of OTC Transaction:
- This rule will be formally implemented from the date of promulgation and will be revised or improved from time to time. The revised or improved new rules will take effect as of the date of promulgation;
- If you do not agree with the rule, please stop using the platform service immediately;
- If you continue to use the platform service, it is deemed that you fully understand and accept this rule and are bound by it voluntarily.
Special Note:
1. If you do not agree to this agreement, you will not be able to place an order;
2. Cancellation of the deal cannot be processed once Merchant confirms your deal.
Users should abide by the principle of Anti-Money Laundering:
- The user should strictly abide by the platform's real-name authentication requirements for the user's identity to ensure that the relevant accounts on the platform are legally registered and used by themselves;
- When triggering the platform's Anti-Money Laundering risk control warning, users should actively cooperate with the platform's further Anti-Money Laundering verification work and assist in providing relevant risk control evidence (the specific measures are subject to the platform's risk control verification requirements at that time)
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When Buy BTCV |
Result |
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1. After the order is created, the merchant agrees to release it. |
Transaction succeeds and the buyer receives BTCV. |
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2. After the order is created, the merchant refuses to release it. |
Transaction fails, and the IDA paid by the buyer will be unlocked within 5 minutes. |
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3. After the order is created, the merchant does not process after timeout. |
Transaction is cancelled, and the IDA paid by the buyer will be unlocked within 5 minutes. |
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4. After the order is created, the buyer cancels the order. |
Transaction is cancelled, and the IDA paid by the buyer will be unlocked within 5 minutes; if the cancellation reaches 3 times, BTCV OTC transaction will be prohibited on the day |
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Risk control warning |
Measures |
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1. When the user is detected abnormal by the risk control system, the user explicitly refuses or does not actively cooperate with the platform's risk control requirements for further Anti-Money Laundering verification. |
The platform will have the right to directly determine that this account is abnormal, and take measures including but not limited to, increasing the user's risk level, directly freezing the user's account and associated accounts, until user cooperate to provide risk control evidence. |
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2. When the user is verified by the platform that there is suspected fraud (or attempted fraud), or transfer tokens to various high-risk platforms (including but not limited to: acceptance dealer platform, online lottery platform, suspected money laundering fraud platform or other low risk control platform). Risk warning: the publicity that linking this platform to the above-mentioned platform are all false publicity, and beware of being deceived and causing unnecessary property damage. |
The platform will have the right to directly freeze or restrict OTC transactions and withdrawals of such users and associated accounts, and even disable all account permissions as appropriate.
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3. Non-personal use or illegal buy digital currency for others: when the user is verified by the platform that the account is sold, loaned, or leased for use by others, or there is an act of illegally buying coins for others. Risk warning: Please pay attention to your own information security to avoid being used by others to commit criminal acts. |
The platform will have the right to take measures including but not limited to temporarily or permanently restrict OTC transactions, delay withdrawals, restrict withdrawals or directly freeze the accounts and associated accounts of such users. |
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4. Receiving or bringing digital assets from illegal sources: When the user knows or judges based on reasonable common sense that it can be inferred that the digital currency funds received on other platforms are black money, but still ignores the risks and directly flows the black money into accounts of this platform. |
This platform will permanently restrict all functions of such users and associated accounts. |
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5. User who is identified as money laundering: When the user is verified by the risk control system to directly participate in or assist in money laundering and other criminal acts. |
This platform will permanently restrict all functions of such users and associated accounts. |
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6. Judicial freezing: When the user's account is requested to be frozen by the judiciary institution. |
This platform will strictly freeze accounts in accordance with judicial letters produced by judicial institutions. When the freezing period expires, the judiciary needs to present a renewal letter before it can continue to freeze. During the freezing period, the user's application to the platform for unfreezing is invalid, please contact the freezing organization for coordination. |
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7. Judicial investigation: The user is requested by the judiciary institution to access the account information of this platform, including but not limited to: judicial investigation, consultation, etc. |
This platform will restrict some functions of such users and associated accounts as appropriate. |
Regarding IDA Deposit:
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CAUTION Please do not confuse the IDA (created by Publet pte ltd and used in the BTCV OTC market) with a different IDA (asset digitization data assetization) THE IDA TOKEN CAN ONLY BE PURCHASED THROUGH PUBLET WALLET. Wrong deposit may cost 0.01BTC for processing |