This risk disclosure and disclaimer should be read in conjunction with gocoin's Terms of Service. Simply put, we want you to understand the important risk and compliance issues associated with trading on our platform.
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 ("AML/CFT/Sanctions Program" or "Program"). We are committed to promoting legal and transparent business activities and maintaining a solid 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 come to trade as buyers and sellers, often referred to as market traders and market takers. For clarity, buyers and sellers trade with each other and gocoin is not involved in the actual transaction. Users can log on to gocoin.pro, and its associated application program interface or mobile application (website), to obtain services provided by Aux Cayes FinTech Co. Ltd. (incorporated in Seychelles).
Disclosure: Trading is risky. The risk of loss in trading or holding digital assets can be substantial. 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 approaches to regulate and regulate digital assets, including defining or classifying digital assets as convertible virtual currencies (U.S. FinCEN) or virtual commodities (Hong Kong). As a trading platform, we believe that all digital assets offered on the gocoin platform belong to an innovative alternative asset class, therefore, digital assets should not be referred to as money or currency.
Disclosure: Digital assets are not money or legal tender. Digital assets like Bitcoin and Litecoin are not backed by any government or central bank. At different times we may have some insight into the regulatory approach taken 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 regulate digital asset businesses. Also, gocoin does not accept certain clients. In order to maintain a good reputation in the market and ensure a strong compliance market, we have decided not to serve data from Hong Kong, Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, the United States [including all US territories such as Customers in Puerto Rico, American Samoa, Guam, Northern Mariana Islands, US Virgin Islands (St. Croix, St. John and St. Thomas)], Bangladesh, Bolivia, Ecuador and Kyrgyzstan. The latter four countries have currently banned activities involving digital assets.
We cooperate with government authorities and comply with applicable regulations. As good corporate citizens, law enforcement may request information from us, and we will assist law enforcement investigations to track down and deter illegal activity if the law allows for law enforcement investigations. This also means that our platform is only for law-abiding clients. We hope to provide you with services, and at the same time, we also hope that you can act legally and legally on our platform.
4. Our Anti-Money Laundering/Counter-Terrorist Financing Solutions
Through a risk-based multi-level control system, we have designed our anti-money laundering and anti-terrorist financing program to reasonably prevent money laundering and terrorist financing.
The first tier of the scheme includes rigorous user identification procedures, including verifying the identities of individual and business users. . In addition to obtaining identification documents, we also obtain information on beneficial owners/natural persons of their institutions from non-natural users, which is in line with international standards such as the Financial Action Task Force (FATF) requirements.
The second tier includes risk-based system controls to ensure that additional customer due diligence is performed. To achieve this, we place users (including beneficial owners) on the list of agencies/persons published in the Hong Kong SAR Government Gazette, the "Office of Foreign Assets Control (OFAC) Sanctions List" and the "UN Security Council Sanctions List" and other sanctions lists. filter. We may also screen other lists at our discretion to protect our reputation and customers.
The third layer includes continuous monitoring for suspicious activity. If we suspect or have reason to suspect suspicious transaction activity, we will file a suspicious transaction activity report with local regulators, as appropriate. Often, suspicious transactions do not correspond to the customer's known legitimate business or personal day-to-day transaction activities.
The above are the main components of our compliance program. However, the most important link to these multi-layered risk control systems is our leadership team and employees, including AML/Risk personnel who perform training, oversight and develop a good compliance culture.
Digital asset trading is considered high risk. Digital assets are not backed by any government or central bank. Trading or holding digital assets can be very risky. You should carefully consider whether interacting, holding or trading digital assets is right for you based on your financial situation.
6. Contact information
If you have questions about our customer due diligence controls or need our assistance, please feel free to contact one of our 24/7 customer service representatives by phone, live chat or email.