Disclosures
Disclosure of Information and Risk related to Digital Asset Custody
Maxbit Digital Asset Co., Ltd. ("the Company") would like to disclose information and risks related to digital asset custody for all customers to receive complete and accurate information. The details are as follows:
1. Custody of Customers' Assets
Digital asset business operators are not financial institutions according to the Deposit Protection Agency Act, and depositing money and digital assets with digital asset business operators is not protected by the Deposit Protection Agency Act. In case of distress of digital asset business operators, customers may not receive a full refund immediately from such operators.
2. Assessing the Stability of Digital Asset Business Operator
Customers can assess the financial status of digital asset business operators by reviewing financial statements and a revenue report published on the operators’ websites. In addition, other information should also be considered before deciding to invest in or use their services, such as the service quality and customer complaint handling procedure.
3. Risk Management of Customers
Customers may manage risks related to digital asset custody by only depositing digital assets with a digital asset business operator in an adequate amount for forthcoming transactions. For the remainder that is not used for the transactions, customers may consider keeping it in their personal digital asset wallets. Before conducting transfers or transactions, customers should at least study the usage methods of different types of wallets and how to securely store private keys or passwords.
4. Storing Digital Assets with Other Service Providers
The Company stores digital assets with digital asset custodian(s) (third-party custodian) as follows:
| Custodian | Country or Territory of Registration | Regulatory Agency | Website |
| Poland | The Register of Activities in the Field of Virtual Currencies | https://www.ceffu.com/ |
5. Sourced Exchanges
The Company, as a licensed digital asset broker, connects with the following sourced exchanges.
| Sourced Exchange | Country or Territory of Registration | Regulatory Agency | Website |
| B2C2 Overseas Ltd. | The Cayman Islands | Cayman Islands Monetary Authority (CIMA) | https://www.b2c2.com |
| Coinbase, Inc. | USA | New York Department of Financial Services | https://www.coinbase.com |
| Gate Global, Corp. | Panama | N/A | https://www.gate.io/ |
| Solios, Inc. (FalconX) | USA | Financial Crimes Enforcement Network | https://www.falconx.io/ |
Gulf Binance | Thailand | The Securities and Exchange Commission | https://www.binance.th/en |
Ripple Markets APAC Pte. Ltd. (Ripple) | Singapore | Monetary Authority of Singapore (MAS) | https://ripple.com/ |
Risk Acceptance
I have examined the risks associated with digital asset trading as informed by the company, especially, those with respect to the risk arising out of the volatility of the price of digital assets, which offers a chance of receiving higher returns but may cause me to lose all or part of my principal. I acknowledge that digital assets are not legally qualified as currency and not guaranteed by any institution. Furthermore, I acknowledge the relevant regulations, which might be revised, as well as rights, obligations, and responsibilities in accordance with the Terms of Use of the company. I hereby confirm that I have read and understood the foregoing risks and I am willing to enter into digital asset trading transactions with the company.
Warning
- Investment in cryptocurrency is highly risky; you should study and understand cryptocurrency risks thoroughly because you may lose your entire investment.