This Disclaimer should be read alongside the AlphaX Terms of Service. To put it simply, we want you to be aware of the key compliance matters and responsibilities when you engage in trading on our platform.
- OBJECTIVE
To uphold our robust and compliant digital asset platform, we have developed and implemented an Anti-Money Laundering, Anti-Terrorist Financing and Trade & Economic Sanctions Program. Our goal is to foster legal, transparent business activities while upholding a positive reputation among clients, regulatory entities and the digital asset sector.
- REGULATORY LANDSCAPE
We acknowledge that regulators globally have adopted various approaches to the regulation and standardization of digital assets, including defining or classifying digital assets are virtual financial assets (Malta), convertible virtual currencies (USA FinCEN) or virtual commodities (Hong Kong). As a trading platform, we consider that all digital assets available on AlphaX as an innovative alternative asset class; therefore, they should not be classified as currency or money.
- DISCLOSURES
Digital assets do not constitute legal currency and they are NOT backed by any government or central bank. Our opinions on regulatory approaches by different government bodies may vary over time; nonetheless, we always adhere strictly to the rules and regulations of the respective countries we operate in. We regularly communicate with regulators and industry on the best approach to regulating digital asset businesses.
We cooperate with governments, respect regulations, and adhere to applicable regulations. As good corporate citizens, we may be required to provide information to law enforcement authorities. In cases where law enforcement seeks to investigate and curb unlawful activities, we will assist within legal boundaries. This implies that our platform is intended for law-abiding individuals. We would like to serve you while you act legally and properly on our platform.
Furthermore, AlphaX does not accept certain customers. To maintain our strong reputation in the market and ensure a robust compliant marketplace, we have decided to not seek nor accept customers from certain jurisdictions, such as Canada, Mainland China, Hong Kong SAR, Macau SAR, Netherlands, Singapore, United States (including all US territories), United Kingdom, any country that is designated as a restricted country under AlphaX AML/CTF policy and any other jurisdictions where the provision of the services is prohibited or will subject us to regulatory penalty ("Restricted Jurisdictions"). This list of Restricted Jurisdictions is subject to change and may vary from service to service. More information can be obtained by contacting AlphaX customer support.
- OUR ANTI-MONEY LAUNDERING/ANTI-TERRORIST FINANCING (AML/ATF) PROGRAM
We have established our Program to be anti-money laundering (AML) and anti-terrorist financing (ATF) through a risk-based and multi-tier control system.
The first layer entails a stringent customer identification program, including verifying the identity of our customers, whether individuals or entities. This includes not only acquiring identification documents but also gathering information about the beneficial owners for non-natural entities, aligning with global standards such as those set by the Financial Action Task Force (FATF).
The second layer involves a risk-based system to warrant additional customer due diligence. To accomplish this, we screen our clients (including beneficial owners) against various government-provided lists of sanctioned individuals and entities, such as The Government of the Hong Kong SAR Gazette, United States Office of Foreign Assets Control (OFAC) Sanctions Lists, and the United Nations Security Council Sanctions List, among others. Additionally, we may screen against other lists on a discretionary basis to safeguard our integrity and our clients.
The third layer includes proactive monitoring for any suspicious activities. Should our Program suspects or has reason to suspect suspicious activities have occurred, we are committed to reporting these to the relevant regulatory authorities. Transactions that are inconsistent with a client's known legitimate business or personal conducts are flagged as suspicious.
- RISKS
Engaging in digital asset trading carries a high level of risk. Digital assets are NOT backed by any government or central bank. The risk of loss involved in trading or holding digital assets can be significant. You should carefully evaluate whether interacting with, holding, or trading in digital assets is suitable for you based on your financial situation.
- LIABILITY
6.1. Disclaimer of Warranties
For the purposes of this document, "the Services" refers to all and any services provided through the AlphaX platform, its associated companies and/or partners, including cryptocurrency and/or its derivatives and the trading thereof.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE SERVICES, THE ALPHAX MATERIALS, AND ANY PRODUCTS, SERVICES, OR OTHER ITEMS PROVIDED BY OR ON BEHALF OF THE ALPHAX ARE OFFERED ON AN “AS IS” AND “AS AVAILABLE” BASIS.
AND ALPHAX EXPRESSLY DISCLAIMS, AND YOU WAIVE, ANY AND ALL OTHER WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT OR WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE IN TRADE.
WITHOUT LIMITING THE FOREGOING, ALPHAX DOES NOT REPRESENT OR WARRANT THAT THE SITE, THE SERVICES OR ALPHAX MATERIALS ARE ACCURATE, COMPLETE, RELIABLE, CURRENT, ERROR-FREE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. ALPHAX DOES NOT GUARANTEE THAT ANY ORDER WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN. EXCEPT FOR THE EXPRESS STATEMENTS SET FORTH IN THIS AGREEMENT, YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE NOT RELIED ON ANY OTHER STATEMENTS OR AGREEMENTS, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF THE SERVICES.
WITHOUT LIMITING THE FOREGOING, YOU HEREBY UNDERSTAND AND AGREE THAT ALPHAX WILL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO:
(A) ANY INACCURACY, DEFECT OR OMISSION OF DIGITAL CURRENCY PRICE DATA,
(B) ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA,
(C) INTERRUPTION IN ANY SUCH DATA AND
(D) ANY DAMAGES INCURRED BY THE ACTIONS, OMISSIONS OR VIOLATIONS OF THIS AGREEMENT BY OTHER USERS.
6.2. Disclaimer of Damages and Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL ALPHAX, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS BE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR SIMILAR DAMAGES OR LIABILITIES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF DATA, INFORMATION, REVENUE, PROFITS OR OTHER BUSINESS OR FINANCIAL BENEFIT) ARISING OUT OF OR IN CONNECTION WITH THE SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF ALPHAX AND ITS AFFILIATES, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY EVEN IF ALPHAX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES EXCEPT TO THE EXTENT OF A FINAL JUDICIAL DETERMINATION THAT SUCH DAMAGES WERE A RESULT OF ALPHAX GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT OR INTENTIONAL VIOLATION OF LAW. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
NOT WITHSTANDING THE FOREGOING, UNDER NO CIRCUMSTANCES WILL THE LIABILITY OF ALPHAX, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS ARISING OUT OF OR IN CONNECTION THE SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF ALPHAX OR ITS AFFILIATES WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY, EXCEED THE AMOUNT OF THE FEES PAID BY YOU TO ALPHAX UNDER THIS AGREEMENT IN THE TWELVE-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.
- LANGUAGE OF USE
This Disclaimer may be published in different languages. In case of any discrepancy, the English version shall prevail.