This “Risk and Compliance Statement” should be read in conjunction with the “Services” of the 99EX FOUNDATION LIMITED (“99EX”), which was established under the Singapore Companies Act with company number 201828794Z. In short, we want you to understand important risk and compliance issues when trading on our platform.
- Trading is risky
The risk of loss from trading or holding digital assets can be significant. Therefore, based on your financial situation, you should carefully consider whether your digital assets or any leveraged or derivative digital assets are suitable for you.
II.99EX does not accept any legal currency
While other platforms can help you fill or withdraw fiat money, 99EX does not allow or provide fiat currency billing or withdrawal services. The 99EX is only a digital asset trading platform. In a simple analogy, if you are trying to listen to a heavy metal concert, do not get into a classical concert, or you may have a headache.
III. Digital assets are not money nor legal currency
While there are other trading platforms that are able to convert or liquidate digital assets into money or legal currency, we do not offer such services. 99EX does not treat digital assets as money or fiat currency, as digital assets are not backed by any government or central bank.
- We do not accept certain customers
We can't and don't want to serve certain customers, such as customers from jurisdictions that prohibit digital asset behavior, which requires high cross-jurisdictional regulation cost. Also, we don’t serve customers listed on the international sanction list. We do not want to violate the rules of each country at all.
- We can help the government
While we may not welcome high regulation cost, we respect regulations and will comply with them. As good corporate citizens, we may be required by law enforcement agency to provide information. Under this circumstance, we will assist as permitted by law. This means that our platform only welcomes customers who comply with the law and relevant regulations. We are willing to win your business, and accordingly, we ask you to act legally and correctly on our platform.
*If there is any ambiguity in the Chinese and English versions, the English version shall prevail.