*This policy applies to all verified non-CN users (users whose registered country in your CoinCatch account isn't from China)
1. ALL USERS SHALL ABIDE BY THE KYC (KNOW-YOUR-CUSTOMER), ANTI-MONEY LAUNDERING, ANTI-TERRORIST FINANCING, AND LEGALITY PRINCIPLES SET OUT IN THIS POLICY:
1.1 Users should comply with the Platform’s AML/KYC and CTF Policies and strictly fulfil the obligations stipulated therein.
1.2 Users should meet the Platform's requests for account and identity verification and verify that their accounts are legally registered and operated.
1.3 If Users trigger the Platform’s AML risk control early warnings, they should actively cooperate with the Platform in further AML verification and provision of risk control evidence (the specific measures are subject to the Platform’s requirements for risk control review at that time).
1.4 If users fail to comply with ( I.2.3.), the Platform reserves the authority to deactivate some or all of their account functionalities.
1.5 Users are accountable for verifying that they possess the legal authorization to perform transactions according to the relevant laws. The Platform does not bear responsibility for confirming the legality or illegality of user transactions in any manner. Even though the Platform is not involved in any P2P transactions between users, it might (but is not obligated to) inspect user transactions for their legality, if necessary, and implement measures in compliance with relevant laws and regulations.
1.6 Users are required to comply with the laws of their local jurisdiction regarding the proper use of the Platform, as well as other applicable laws and regulations. Additionally, users must consider all taxation-related requirements, such as withholding, collection, reporting, and remittance to the relevant tax authorities, based on their local laws.
2. General Trading Instructions
2.1 To ensure asset safety, the Platform has implemented the “T+N” withdrawal, internal transfer, and P2P sell limits to funds obtained through P2P trades. And "N" will be configured according to the risk control requirements of the local market.
2.2 If the total number or value of P2P transactions exceeds the risk control threshold on a calendar day, the system will initiate liveness detection to safeguard users' accounts.
2.3 To prevent disputes between parties after initiating an order, it is advisable to carefully review the terms and conditions listed on the advertisement description page before proceeding with a transaction.
2.4 Always try to provide explicit details of your terms and conditions using point form, bullet points, and write in clear paragraphs.
2.5 Please make sure that the payment method used for the order matches the payment method selected during advertisement configuration.
2.6 The Platform cannot be held liable for any asset losses or damages resulting from transactions conducted through third-party channels such as social media, messaging apps, or face-to-face trading. It is not advisable to engage in cryptocurrency trading outside the Platform's system. The Platform sets the rules for the transaction between seller and buyer, solely to support the user experience on the Platform. The Platform is not part of any P2P transactions.
2.7 When using the Platform, users should refrain from using vulgar or offensive language. This applies to all communication tools provided by the Platform, including but not limited to messaging features, and customer support live chat sections.
2.8 Unless otherwise agreed upon before the trade is initiated, both parties involved in a fiat transfer should bear any additional transaction costs, such as payment service provider fees. Therefore, the sending amount should include these fees. For instance, if the order amount is 10,000 USD and a payment service provider charges an additional 5 USD, the buyer should pay 10,005 USD.
3. Risk Warning and Disclaimer
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Users must fully understand the risks linked to P2P transactions, which include but aren't limited to fluctuations in the value of digital assets, credibility concerns with counterparties under P2P transactions, and compliance risks related to fiat currency transactions.
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Users must possess the necessary investment knowledge and experience to handle risks associated with P2P transactions, and agree to assume all risks independently arising from their participation in such trades.
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For safety reasons, users should refrain from sharing personal information, such as phone numbers and social media or messaging app details, in trading conditions, auto-replies, or order chats.
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Users should not use nicknames that contain sensitive words, such as "CoinCatch," names of local banks and payment systems, or personal information.
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The use of multiple accounts to trade on the P2P Platform is prohibited. If such accounts are detected, we reserve the right to block all linked user accounts from trading.
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Prior to engaging in a P2P transaction, you must have thoroughly read and comprehended all the contents of this Policy, the Terms, and relevant CoinCatch regulations.
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The Platform is not a party to any P2P transaction. Therefore, any disputes between Users engaging in P2P transactions have nothing to do with the Platform. The Platform has neither the rights nor the obligations to resolve any disputes arising therefrom. It is not obliged to assume any financial or non-financial obligations or responsibilities to any party (including but not limited to indemnities).
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By agreeing to this Policy, you authorize the Platform to take necessary actions (such as disabling account features or canceling transactions in specific circumstances) to protect your, the platform's, and other users' legitimate rights, in accordance with this Policy, the Terms, and relevant CoinCatch regulations.
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Please note that the payment methods on CoinCatch P2P are displayed as options of fiat transactions between Users. CoinCatch does not establish any form of business relationship with the payment method listed on our P2P platform.
4. Abnormal Trading Behaviors and Measures to Address Them:
By agreeing to this Policy, you acknowledge that the Platform cannot be held responsible for any losses incurred during P2P transactions or while using services, except in cases of intentional misconduct or gross negligence by the Platform. This includes but is not limited to losses resulting from hacker attacks, power outages, or unavoidable technical failures.
The Platform reserves the right to, at its sole and complete discretion, limit, suspend, or discontinue your Account or access to services without prior notice for a duration determined by the Platform if:
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We reasonably suspect that you have breached or may breach this Policy;
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We detect that you are utilizing multiple accounts for P2P trading;
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We believe it is necessary to safeguard the interests of other users, and we choose to restrict or deny your access to the Services, we cannot be held responsible for any resulting consequences, such as delays, damages, or inconvenience.
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We determine that your use of our Platform may have negative consequences for other users or hinder them from utilizing our Services,
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It has been disclosed that during your interactions with other users, you have used offensive language towards them, insulted, coerced, intimidated, or infringed upon their legal rights (such as privacy, publicity, intellectual property) in any way. Additionally, you have collected and distributed private information about others without their consent.
You understand that we may take actions such as restricting access to, suspending, or terminating your account or wallet, and that these decisions may be based on confidential criteria that are crucial for our risk management and security protocols. You also agree that CoinCatch is not obligated to reveal the specifics of its risk management and security procedures to you.
The suspension will be lifted promptly once the reasons for the suspension no longer exist. However, we are under no obligation to notify you when (if ever) such suspension will be lifted.
Abnormal trading behaviors | Handling rules |
1. The Buyer cancels an order without obtaining permission from the Seller or Platform, despite the fact that the order has already been placed. | If the Buyer engages in the same conduct three times on the same day, the system will prohibit the Buyer from buying for the rest of that day. |
2. Order is automatically canceled as payment is not made within the time limit after the order is created. |
1) If a User/Merchant engages in the same behavior as a taker-buyer 5 consecutive times, the system will prohibit them from engaging in taker-buyer transactions for the remainder of the day. Please note that the system will reset the restriction after 24 hours.
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3. The User's ad has more than 5 orders being appealed at the same time. | The User's active advertisements will be shut down, and they will be prohibited from engaging in any P2P transactions. |
4. The buy advertisement has been online for a relatively long time but with the completion rate (calculated as the number of successful orders divided by the number of matched orders) below 20%. | The User's buy ads will be shut down. |
Scenarios triggering risk control abnormalities | Handling rules |
1. The risk control system identifies irregularities, and the Users involved either explicitly decline or do not actively participate in subsequent anti-money laundering or anti-terrorism financing verifications with the Platform. | The Platform may choose to label the relevant Accounts as suspicious and take appropriate action, such as elevating Users' risk level, freezing Users' Accounts as well as other associated Accounts until the risk control evidence provided by the Users passes the Platform's risk control review. |
2. Users' Accounts are flagged for suspected fraud (or attempted fraud), withdrawal of funds to high-risk platforms (which may include unlicensed crypto-dealer platforms, online gambling platforms, platforms suspected of money laundering or fraud, or other high-risk entities), or other high-risk asset transfers. | The Platform may directly freeze or disable the transaction, withdrawal, or all P2P features of the associated Account(s). |
3. If a user is discovered to have sold, lent, rented or used their account to acquire digital assets for another person, or if an account remains inactive or is used unlawfully, it may result in a warning of potential risks. It is recommended to take precautions to safeguard personal information and avoid being involved in criminal activities. | The platform has the authority to take appropriate actions, which may include disabling P2P trading feature either temporarily or permanently, delaying or disabling withdrawal feature, or directly freezing accounts of users and their associated accounts. |
4. If users are aware or can reasonably assume that the digital assets or funds they receive from other platforms are illegally obtained, but still allow those funds to enter the accounts of other users on the Platform, it will be considered as receiving or introducing funds from illegitimate sources. | The platform has the authority to permanently disable some or all of the features of a user's account and its associated accounts, and terminate any services provided to the user or contractual obligations performed. |
5. If a user is detected by the risk control system or verified by risk control staff as directly participating in or aiding money laundering, they will be classified as having committed money laundering. | The platform has the authority to permanently disable some or all of the features of a user's account and its associated accounts, and terminate any services provided to the user or contractual obligations performed. |
6. Account freeze authorized by the court: an Account has been frozen upon the request of a judicial authority. | The Platform has the right to freeze an account based on a written request from the judicial authority as per the applicable laws and regulations. During the period of freezing, the user must contact the relevant judicial authority instead of the Platform to resolve the matter. |
7. Investigation by law enforcement: Users are requested by a judiciary institution to retrieve account information on the platform, in the forms of, including but not limited to, judicial investigation and consultation. | The Platform has the authority to deactivate specific functionalities of a user's account and its associated accounts. |
8. Users who are found to engage in high-risk activities, such as purchasing digital assets from CoinCatch P2P and selling them for profit on other platforms or in OTC markets, have been verified. | Depending on the circumstances, the Platform may take actions such as delaying withdrawals, limiting transactions, or freezing accounts. Note that if such activities are detected, advertisers may choose not to proceed with ongoing orders. |
9. Use another user’s account to test whether his or her card is frozen: Users transfer small amounts to other users on the platform when there are no orders without a reasonable explanation for such behaviour. | The platform has the authority to take one or multiple actions, such as disabling P2P trading feature either temporarily or permanently, deactivating withdrawal feature, or freezing accounts of such users. |
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