58COIN (hereinafter referred to as “58COIN”, “Website”), owned and operated by Wanshi Technology Limited., is a professional platform (market) specialized in digital currency transactions. 58COIN, as the platform provider, is not a buyer or seller in these trades, it only provides a valuable service of settling trades and enabling withdrawals in digital assets to the trader’s bank account.
We have established and implemented an Anti-Money Laundering, Anti-Terrorist Financing and Trade & Economic Sanctions Program (“AML/ATF/Sanctions Program” or “Program”) as required by law.
In accordance with the requirements of relevant national laws and regulations, 58COIN is dedicated to the realization of “Building Network Security, Sharing Network Civilization” through providing a legal, efficient, transparent and orderly trading platform for Users.
I. TRADING RISK WARNING
1.1. As trading and holding of digital currencies are of high risk, and the price of digital currencies is prone to volatility, all these will adversely affect digital currency investments. User should understand that this investment may result in partial or total loss, and determine the amount of investment within the tolerable loss range. In addition to the risks mentioned above, there are unpredictable risks. You should therefore carefully consider whether trading in digital assets is suitable for you in light of your financial condition.
1.2. Digital currency transactions may be suspended or prohibited at any time due to the formulation or revision of national laws, regulations and regulatory documents.
1.3. Users participate in digital currency transactions shall control their own risks, evaluate the investment value and investment risks, and bear the economic risk of losing all their investments.
1.4. 58COIN, as the platform provider for Users to obtain digital currency information, to seek trading party and negotiate and conduct digital currency transactions, is not a buyer or seller in these trades. Users should therefore carefully consider the investment in digital currency regarding the authenticity, legitimacy and effectiveness of the digital assets and/or information, and bear the responsibility and loss arising therefrom.
II. USER INFORMATION PROTECTION
2.1. You consent to 58COIN’s preservation and use of your personal data (including but limited to editing, linking, remaking, transfer between internal and affiliated companies) while browsing 58COIN or using other services provided by the Website. 58 Coin will keep the personal information collected strictly confidential and will take appropriate technical and other necessary measures to prevent the leakage and loss of relevant personal information.
2.2. 58COIN may acquire some of the User’s personal information when entrusting a third party regarding website maintenance, data analysis, market research and other similar services. The third party can only get the User's personal information within the scope of its service, and can not use it for any purposes other than the service.
III. INTELLECTUAL PROPERTY PROTECTION
All intellectual rights, including the contents and resources of this Website, shall be owned by 58COIN. It is protected by national intellectual property rights. 58COIN shall have the right to modify various agreements and statements on this Website. 58COIN has not transferred this Website or any of its contents and any related rights or ownership to any third parties. Any use of any contents, services or materials on this Website may infringe and violate copyrights, trademarks, patents or other laws and regulations, 58COIN reserves the right to initiate legal proceedings against any infringing third parties (including units or individuals, etc.).
IV. ANTI-MONEY LAUNDERING RIGHTS AND OBLIGATIONS
In accordance with anti-money laundering regulations, 58COIN will implement the anti-money laundering obligations by adopting a strict user identification system, customer identity data and transaction record keeping system, and a large and suspicious transaction reporting system.
4.1. User shall provide and upload the copy of ID card to 58COIN for identification and comparison when registers or reports the loss of transaction password or funds password. If 58COIN has reasonable grounds to suspect that the User is using false identity to register, 58COIN is entitled to refuse your registration or revoke your registered account.
4.2. In accordance with Management of Large and Suspicious Transaction Reports in Financial Institutions, 58COINshall have the right to keep records of big deals and suspected money-laundering transactions and provide such records to regulatory authorities when they request.
4.3. 58COIN shall have the right to keep records of big deals and suspected transactions to legally assist judicial authorities and administrative law enforcement agencies regarding the cracking down of money laundering activities. 58COIN may coordinate with judicial authorities, customs, taxation departments and other departments to inquire, freeze and detain your deposit in accordance with laws and regulations.
4.4. According to the national anti-money laundering policy, and for the protection of the User’s assets, the name of the remitter must consistent with the verified name.
4.5. As the PBOC endeavors to foster a safe and compliant digital asset trading platform industry, 58COINwill abide by both the letter and spirit of such regulatory guidelines, including the implementation of Know Your Customer controls, monitoring for suspicious activity, reporting of suspicious transaction activity and cooperating with local authorities who may at times inquire of transactional information.
V. DISCLAIMER AND LIMITATION OF LIABILITY
5.1. User understands and agrees that under no circumstances shall 58COIN be liable for the following matters:
(1) Transaction losses;
(2) Transaction profits or contract losses;
(3) Business interruption;
(4) Information loss;
(5) Damage or loss of data;
(6) The digital currency dies or exits the market;
5.2. Where a competent authority, the public security organizations, courts, administration for industry and commerce and other public authorities, on the strength of applicable investigation certificate, requests 58COIN to cooperate with the investigation relating to any designated user, this Website will, as is required by the competent authority, assist such authority by carrying out the corresponding operation as is required by the competent authority; for any such losses arising therefrom, this Website will not be held liable in any manner whatsoever. If the act brings reputation or economic loss to 58COIN, 58COIN reserves the right to prosecute.
5.3. 58COINaims to build a high quality digital currency trading platform for users, providing superior digital currency trading services. It is prohibited to use 58COIN for the purpose of engaging in illegal trading activities; where any account is found to involve any of the illegal activities, this Website will transfer relevant clues and evidence to the public security and judicial organs in strict accordance with the law, and will not assume any joint responsibility for the user's actions.
5.4. Any registration or use (including direct use and indirect use) of 58COIN in any way shall be deemed as acceptance and acknowledgement of this statement. These Terms and your use of the Statement will be governed by and construed in accordance with the laws of the Republic of the Marshall Islands.