Last Updated: November 3, 2020
Thank you for visiting OKCoin.com (the “Site”). Your use of the Site is being provided by one of the following parties (individually as a “Party” and collectively as the “Parties” or “we”, “us” or “our”):
If you do not agree to be bound by these Terms, do not access or use the Services. The Parties reserve the right to change or modify the terms and conditions contained in these Terms, including but not limited to any policy or guideline of the platform, at any time and at its sole discretion. As described in these Terms, you agree to be legally bound by these terms and all terms incorporated by reference. We will provide notice of these changes by posting the revised Terms on the Site and changing the "Last updated" date at the top of the Terms, or by emailing Users at their provided email addresses, or by any other means as determined by the contracting Party at its sole discretion, and the updated Terms shall be effective at such time. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your account. You agree that we shall not be liable to you or any third party as a result of any losses suffered by any modification or amendment of these Terms. Your non-termination or continued use of this Site or Services after the effective date of any changes or modifications of these Terms constitute your acceptance of such changes or modifications.
These Terms and any terms expressly incorporated herein apply to your access to, and use of, any services provided by the Parties. These Terms do not alter in any way the terms or conditions of any other agreement you may have with the Parties for products, services or otherwise.
We encourage you to frequently review the Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Service. If you have any questions regarding the use of the Services, please contact [email protected].
The Parties provide online digital asset trading services and a platform to spot trade digital assets (or also known as “convertible virtual currency” in the US, “virtual financial assets” in Malta, “virtual commodities” in Hong Kong, “digital payment token” in Singapore, or occasionally by others as “cryptocurrency” ,“cryptographic tokens”, “digital tokens”, or “cryptographic currency”) and facilitate margin lending in certain permitted jurisdictions. Users must open an account and transfer in digital assets or fiat currencies prior to commencement of trading. Users may request withdrawal of their digital asset or fiat currencies, subject to the limitations as stated in the local law where the Party is incorporated and the Terms.
1.1 Information Accuracy: While the Parties have made every effort to ensure the accuracy of the information on our Site and to give prior notice to the Users of any material change to the information of the Site, the information and content on the Site is subject to change without prior notice and is provided for the sole purpose of assisting Users to make independent decisions. The Parties have taken reasonable measures to ensure the accuracy of the information on the Site; however, we do not guarantee the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any Service or products available through the Site, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your inability to access our Site, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through our platform. The Parties will not have any liability for the use or interpretation of such information.
Users shall prepare devices and bear costs as follows:
1.2 Service Availability: By using our Service, you acknowledge and consent that the Service is provided by the Parties according to their current technological capacity and other conditions. While the Parties have made every effort to ensure continuity and security of the Service, we are unable to completely foresee and eliminate legal, technological and other risks including but not limited to force majeure, virus, hacker attack, system instability, flaw in third-party services, act of government, etc. that may result in service interruption, data loss and other losses and risks. You agree and acknowledge the possibility of the discontinuity and disruption of the Service due to the above-mentioned situations.
1.3 Fees: Fees may be incurred for certain Services provided by the Parties to its Users. You agree to pay to the relevant Parties for applicable fees in accordance with our fee schedule as published on the Site. The relevant Parties may change the fee models and structures of such services from time to time. The relevant Parties may also start charging fees on free services at any time. We shall strive to announce any fee changes via our Site or other communication channels ahead of their effective date. You shall stop using the Service if you disagree on the above mentioned changes, modifications or paid content. Please see Section 10 for more information.
1.4 Account Security: The Parties shall not ask for any password from its Users, nor shall we ask Users to transmit any funds or digital assets to bank accounts or addresses that are not listed on our trading platform. Please do not trust any discount or promotion related information that are not accessed through the Site. The Parties shall not be responsible for any losses caused by transmitting funds or digital assets to bank accounts or digital asset addresses that are not listed on the trading platform. Please see Section 4 for more information.
1.5 Service Changes: You agree the relevant Parties may change or suspend these Services at any time. By continuing to use the Service, you agree to the Terms and any other Terms added subsequently. Please see Section 11 for more information.
1.6 User Information: The Parties have the right to know the real transaction background and purpose of the Users who use the products or services of the Parties. Users must provide real, comprehensive, up-to-date and accurate information required by the Parties. The Parties shall not assume any responsibility of any losses caused by the situations due to Users’ failure in providing up-to-date information that results in the inability for the relevant Parties to reach out to its Users and give notice to the handling procedures. If the Parties have reasonable grounds to suspect that the User has provided false trading information, the Parties are entitled to restrict the User from the use of some or all the relevant Parties’ products, services and/ or functions either temporarily or permanently.
1.7 Our Role and Associated Order Allocation: We may trade our own corporate funds by using the Services on the Site from time to time. We may, at our sole discretion, enable direct purchase and sale of digital assets between the eligible Users and us on the Site from time to time. When we transact on the Site, our orders, trades and other transactions usually serve as an intermediary between trading platform and sources of pricing/liquidity for the benefits of the Users and shall be treated the same as, or provided lower priority than, in terms of price-time priority and fee structure, other Users orders, trades or other transactions. We understand and agree that because of the special position of our role, we may learn of certain information that constitutes “insider information” for regulatory purposes. We shall not disclose any such insider information to anyone, and not to use such insider information to trade in digital assets, or to attempt in any way to profit from any such insider information. The intent of above policies is to ensure that all of your orders have the opportunity to be filled at the best possible price (although the prices at which individual orders are filled will vary depending upon changing market conditions and the quality of the carrying brokerage firm’s execution services, if any).
1.8 Recurring Digital Assets Transactions and Cancellation Policy: If you initiate recurring digital assets transactions, you hereby expressly agree and authorize us to initiate recurring electronic payments in accordance with your selected digital assets transaction and any corresponding payment accounts, including but not limited to, the balance in your OKCoin account, recurring Automated Clearing House (“ACH”) debit or credit entries from or to your linked bank account. Your recurring transactions will occur in identical, periodic installments, based on your period selection until either you or OKCoin cancels the recurring order. You may cancel the recurring digital assets transactions at any time by going to the designated recurring transaction page and selecting the related future recurring transaction for cancellation. Please refer to our FAQs for detailed information on how to cancel a recurring transaction. You acknowledge and agree that the cancellation will not cancel any transactions that have been or are being processed. If your bank is unable to process any electronic ACH debit entry, we will notify you of cancellation of the transaction and may avail ourselves of remedies set forth in these Terms to recover any amount you owed to us. You shall notify us in writing of any changes in your linked bank account information prior to a recurring transaction. We may, at any time, terminate recurring transactions by providing notice to you.
1.9 Limited Services Terms: Notwithstanding anything contained herein to the contrary, for Users who are directed to this Site through third-party referral channel to complete certain transaction with credit cards, debit cards or local instant transfer methods, you agree and acknowledge that before you agree to these Terms, the services provided to you by the Parties are limited to that transactionand that irrespective of any use of the words “purchase”, “sale” or similar terms, no full rights and privileges are granted to such Users under this Agreement. We have no control over, or liability for, the delivery, quality, safety, validity, legality or any other aspect of any goods, services or technology that you may purchase from a third party (hereafter referred to as the “Third-Party Services”). We are not responsible for ensuring that a third party you transact with will complete the Third-Party Services or is authorized to do so. If you experience a problem in relation to the Third-Party Services or if you have a dispute with such third party, you should resolve the dispute directly with that third party.
2.1 Eligibility. The Service are intended solely for users who are 18 or older. By accessing or using our Service, you represent and warrant that you are at least 18 years of age and have not previously been suspended or removed from the Site or Service. If you are registering to use the Service on behalf of a legal entity (corporate customers), you represent and warrant that such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and you further represents that you are duly authorized by such legal entity to act on its behalf, and that such legal entity agrees to be responsible to us if you violated these Terms. You further represent and warrant that you are not on any trade or economic sanctions lists, such as the Office of Foreign Assets Control ("OFAC") SDN lists, not a resident or with the nationality in the Restricted Territories (as defined below), nor restricted or prohibited from engaging in any type of trading platforms by any law enforcement agencies. Also, the relevant Parties may not make all of the Service available in all markets and jurisdictions, and may restrict or prohibit use of all or a portion of the Service from certain countries/regions/territories (the “Restricted Territories”), which at this time include Cuba, Iran, North Korea, Crimea, Sudan, Syria, Malaysia, Bangladesh, Bolivia, Ecuador, and Kyrgyzstan, due to compliance or regulatory requirements.
Additionally, within US, we currently only provide our Service to users in specific States. The content of these Terms is subject to the laws of the country or region where the User is resided. As a result, if you do not meet these eligibility requirements, do not use our Service.
2.2 Prohibited Businesses. Any using of our Service in connection with any of the following categories of activities or businesses is prohibited (“Prohibited Businesses”), and we reserve the right at all times to monitor your transactions or accounts that are relate to any of the following Prohibited Businesses:
(i) Unlicensed money service businesses, including but not limited to payment services providers, the sale of money orders or cashier’s checks or any money transmitter activities;
(ii) Restricted financial services, including but not limited to investment and credit services, credit repair, debt settlement, refinance, bail bonds, collections agencies, or banking services;
(iii) Adult content and services, including but not limited to any types of pornography and other obscene materials (including literature, imagery and other media); sites offering any sexually-related services such as prostitution, escorts, pay-per view, adult live chat features ;
(iv) Deceptive marketing and false advertising services;
(v) Religious and/or spiritual organizations;
(vi) Unlicensed sale of weapons of any kind, including but not limited to firearms, ammunition, knives, explosives, or related accessories;
(vii) Regulated Products and Services, including but not limited to marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age restricted goods or services, and toxic, flammable, and radioactive materials;
(ix) Drugs and Drug Paraphernalia, including but not limited to sale of narcotics, controlled substances, and any equipment designed for making or using drugs, such as bongs, vaporizers, and hookahs;
(x) Gambling activities including but not limited to sports betting, casino games, horse racing, dog racing, lotteries, games of chance, sweepstakes, games of skill that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoing;
(xi) Money-laundering, fraud, terrorist financing, or any other type of financial crimes;
(xii) Any sort of Ponzi scheme, pyramid scheme, or multi-level marketing program;
(xiii) Goods or services that infringe or violate any copyright, trademark, or proprietary rights under the laws of any jurisdiction;
(xiv) Layaway systems, or annuities;
(xv) Counterfeit or unauthorized goods, including but not limited to sale or resale of fake or “novelty” IDs, sale of goods or services that are illegally imported or exported or which are stolen;
(xvi) Wash trading, front-running, insider trading, market manipulation or other forms of market-based fraud or deceit;
(xvii) Purchasing goods of any type from hidden service markets or “Darknet” markets, or any other service or website that acts as a marketplace for illegal goods (even though such marketplace might also sell legal goods);
(xviii) Any other matters, goods, or services that from time to time we communicate to you that are unacceptable or of high risk, and which, for example, may be restricted by our and your bank or payment partners; or
(xix) Any other unlawful activities which would violate, or assist in violation of, any law, statute, ordinance, or regulation, sanctions programs administered in the countries where we conduct business, or which would involve proceeds of any unlawful activities.
In the event that we learn or reasonably suspect, in our sole discretion, that your account is associated with any of the Prohibited Businesses as set forth above, we will consider it to be a violation of these Terms and may suspend or terminate your account, and/or block transactions or freeze your funds immediately without notice, and we reserve the right to report any such suspected or actual Prohibited Businesses to the law enforcement authorities.
3.1 Trading Risk: Trading of digital assets involves significant risk. The risk of loss in trading or holding digital assets can be substantial. You should therefore carefully consider whether trading in digital assets (or any use of margin if permitted/enabled) is suitable for you in light of your financial condition.
You should exercise prudence in trading in digital assets (as well as any other assets). Prices can and do fluctuate at any moment. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any digital asset or trading position may be subject to large swings in value and may even become worthless.
3.2 User Responsibilities: The user shall bear any loss as a result of his/her own actions, including but not limited to:
In the event of a potential loophole in the trading rules that unjustly enriches the User, we will contact the User to recover the gains. The User shall be cooperative, otherwise, we will take actions, including, but not limited to restrictions on account transactions, freezing assets in the User’s account, commence legal action against the User in a court with right of jurisdiction and other recourse measures. In the event the User is not cooperative, the User shall bear all costs incurred as a result of any action taken by the relevant Parties, including legal fees. Besides that, Users shall take full responsibility in ensuring the account information is verified before making the transfer so that digital assets or fiat currencies are transferred into the correct account. If a User transfers in digital assets or fiat currencies in a wrong account and such account is controlled by us, we shall have the sole discretion to reject such transfer and return to the User the relevant amount of digital assets or fiat currencies (after deduction of applicable handling fees).
4.1 Account Registration and Identity Verification: In order to use any of the Service, you must first register to use the Services by providing your email and/or mobile phone number, full name, date of birth, residential address and other personal or company information to verify your identity, along with affirming these Terms. You agree to provide us accurate and authentic information we request at registration and on an ongoing basis for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including without limitation a copy of your government issued photo ID or evidence of residency such as a lease or utility bill. If any such information changes, it is your obligation to provide to us such update information as soon as possible. We may, in our sole discretion, refuse to allow you to register to use the Services or limit Users from registering multiple accounts.
4.2 Protecting Your Account: You agree to not enable anyone to use or direct your account, and to update the relevant Parties of any information change or if your account has been compromised. You are responsible for keeping, protecting and safeguarding any keys, certificates, passwords, access codes, user IDs or other credentials and login information (collectively "Credentials") that have been provided to you or that are generated in connection with your use of the Service. If you lose your Credentials, you may not be able to access your account. For any activities in your account using your Credentials, we will assume you authorized such transaction, unless you notify us otherwise. If you believe you did not authorize a particular transaction or that certain transaction was incorrectly carried out, you must contact us as soon as possible with underlying documentation evidencing your request by email to [email protected]. It is important that you check your account balances and your transaction history regularly to ensure you are fully aware of any unauthorized or incorrect transactions. Please note the relevant Parties will not be responsible for any liabilities, losses, or damages arising out of claim for unauthorized or incorrect transactions.
4.3 Password Recovery: Users who lose their passwords can reset it after being verified through their registered email addresses or phone numbers. You shall immediately report to the relevant Parties if any unauthorized operations or security breaches are found.
4.4 Account Closure: You may close your account at any time. Closing an account will not affect any rights and obligations incurred prior to the date of account closure. You may be required to either cancel or complete all open orders and, in accordance with the provisions of these Terms, provide transfer instructions of where to transfer any fiat currency and/or digital assets then remaining in your account. You are responsible for any fees, costs, expenses, charges, or obligations (including, but not limited to, attorney and court fees or transfer costs of fiat currency or digital assets) associated with the closing of your account. In the event that the costs of closing of your account exceed the value in your account, you will be responsible for reimbursing us. You are prohibited to close any of your accounts to avoid paying any fees otherwise due or to avoid any examination related to our AML Program. Closing your account will not permanently delete your personal data, required to be retained by the Parties to comply with all applicable laws and regulations.
4.5 Account Suspension and Investigation: You agree and acknowledge that the relevant Parties have the right at any moment to suspend your account and any account for which you are a representative or authorized signatory, etc in their sole discretion. Also, you agree that the Parties can freeze/lock the funds and assets in all such accounts, and suspend your access to the Site until a decision has been made, if we suspect, in our sole discretion, any such accounts to be in violation of:
You agree and acknowledge that we have the right to immediately investigate your account and any related account, if we suspect, in our sole discretion, that any such account has committed a conduct violation or violation of applicable laws or regulations.
4.6 Account Termination: You agree and acknowledge that we have the right to terminate any account at any time and for any reason in our sole discretion. You further agree and understand that we have the right to take any and all necessary and appropriate actions pursuant to these Terms and/or applicable laws and Regulations. If your account is terminated, we will return your funds, less the value of any trading fee discounts, rebates, costs, expense and/or damages that we are entitled to pursuant to these Terms. If your account is no longer subject to an investigation, court order, or subpoena, you authorize us to return your funds (less any trading fee discounts, rebates, costs, expense and/or damages to which we are entitled) to any bank account linked to your account, unless otherwise required by applicable law. If there is any digital asset remaining in your account, you agree to provide us with a digital asset address upon receiving written notice, so that we can return the remaining digital assets to you.
4.7 Reversals and Cancellations: You agree and understand that you cannot cancel, reverse, or change any transaction that has been marked as complete in your account. We reserve the right to refuse to process, or to cancel or reverse, any transaction conducted under your account in our sole discretion, even after funds have been debited from your account, and we are under no obligation to allow you to reinstate a purchase or sale order at the same price or on the same terms as the cancelled transaction:
4.8. Right of Offset and Recoveries: In the event that there are outstanding amounts owed to us hereunder, to the fullest extent permitted by applicable law, we reserve the right to freeze your account and debit your account accordingly, and/or withhold amounts from funds you may transfer into your account, and/or dispose any digital assets available in your account at a market rate of exchange in order to offset any amounts owed to us.
4.9. Credit Reporting and Third Party Collection Agencies: You agree and acknowledge that, to the extent permitted under applicable law, we may use the services of external credit reporting agencies, and third party collection agencies in the recovery of losses we incurred from transactions and activities in your account.
For the purpose of these Terms, transfer-in and withdrawal shall include transfer and withdrawal of either fiat currency or digital assets into/from your account.
5.1 Fiat Currency: We provide Users with various fiat transfer-in and withdrawal options from time to time based on their locations, including but not limited to wire transfer, ACH transfer, or indirectly transfer-in and withdrawal into/from the Payment Service Provider ( “PSP”) and/or any bank account(s) held by any PSP. The current fiat transfer-in and withdrawal options are available here. Your transfer-in amount in your fiat account will be in a pending state until after the bank transfer has cleared. The name on your bank account linked to your account and your transfer must match the name verified on your account.
For eligible Users, ACH transfer-in may be made available for trading immediately; however, these funds, or any digital assets bought with such funds, may be subject to a withdrawal holdup period up to ten (10) business days or longer, based on your risk profile and at our sole discretion (“Withdrawal Hold Period”). Once your ACH transfer-in is cleared after the ACH Withdrawal Hold Period, you will be able to withdraw these funds and any digital assets bought with them. In the case that an ACH transfer-in is returned to your bank account and you had already used the pre-credited funds to buy digital assets, we will debit your account with the same amount that was deposited. If this causes your account balance to go negative, you will have to transfer in funds or sell certain portion or all of your digital assets to bring your account balance back to positive. If you fail to do so within three (3) business days after your account goes negative due to, among other things and without limitation, your bank’s failure to process ACH transfer-in, we may avail ourselves of remedies set forth in these Terms to recover any amount you owe to us, including but not limited to, selling any digital assets available in your account at a market rate of exchange until such negative balance is recovered.
You agree and acknowledge that the above-mentioned transfer-in and withdrawal options may not be processed outside of normal banking hours, and the settlement times are subject to bank holidays, the internal processes and jurisdiction of your bank, and the internal processes of our banks. You further agree and acknowledge that in certain situations, the settlement times may be delayed in connection with downtime or disruptions to our service providers.
5.2 Digital Assets: Digital Asset deposits will typically be credited to your account after the required number of network confirmations, as determined by us in our sole discretion, have occurred on the blockchain for such digital assets. Digital assets withdrawals will typically be processed at the speed of a digital asset network. You agree and acknowledge that digital assets are not legal tender, is not backed by the government, and accounts and value balances are not eligible for Federal Deposit Insurance Corporation (“FDIC”), Securities Investor Protection Corporation, or any other kind of deposit insurance or securities investors protection regimes.
5.3. At the time when you transfer into or initiate withdrawal, you are required to ensure all steps have been properly taken so as to ensure that the transfer-in or withdrawal is properly made and that your account is accurately value-added or value-decreased. You are also required and agree to provide all the information to OKCoin in order to facilitate the transfer-in or withdrawal service.
5.4. You are responsible for paying any additional fees charged by your financial service provider. We will not process a transfer if associated bank fees exceed the value of the transfer. You may be required to transfer in additional fiat to cover bank fees if you desire to complete such a transfer.
For U.S. Users, the U.S. dollar funds in your account are placed by us in one or more custodial accounts at one or more FDIC-insured banks for the benefits of our customers, with the intention that they be eligible for pass-through FDIC deposit insurance. FDIC pass-through insurance protects U.S. dollar funds held on behalf of a U.S. User against the risk of loss should such FDIC-insured bank(s) fail, subject to the Standard Maximum Deposit Insurance Amount per FDIC regulations and other applicable limitations. For non-U.S. Users, non U.S. dollar deposits held at any bank, as well as U.S dollar deposits held at banks located outside of the United States, may not be subject to or eligible for FDIC deposit insurance.
We grant you a limited, nonexclusive, nontransferable permit, subject to these Terms, to access and use the relevant Parties’ Site and Service, solely for approved purposes as permitted by the relevant Parties. You agree you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the relevant Parties’ source code or similar proprietary or confidential data or other similar information, without our prior express written consent.
You may not use the Site for any unlawful purpose.
You agree that:
The applicable Party has the right to inquire, freeze or deduct the items and accounts of the User in according to the requirements of any applicable judicial organizations, administrative organizations and military organizations, including but not limited to public security organizations, procuratorial organizations, courts, customs, tax authorities and so on.
9.1 Users shall not register multiple accounts for any purpose.
9.2 Users may not use another User’s accounts.
9.3 Users are prohibited in any form from utilizing the Site to engage in illegal activities. Without the authorization or permission of the relevant Parties, the User shall not use any of the commercial activities in the name of this Site or in any form of the Site as a place, platform or medium for engaging in commercial activities.
9.4 Users shall comply with all laws and regulations, and bear the responsibility and legal consequences of any their own actions when using the Site and Services. In addition, Users shall not infringe the legitimate rights and interests of any third party. Additionally, if the relevant Parties therefore suffered losses as a result of breach of these Terms by the User, the relevant Parties shall have the right to recover from the User via legal actions or other means whether pursuant to these Terms or otherwise.
9.5 If a User violates any obligation above, the relevant Parties have the right to take all necessary measures directly, including but not limited to deleting the content posted by the User, canceling the customer star rating and honor, freezing the User’s digital asset, pausing or seizing the User’s account and illegal gains, and prosecution.
10.1 The relevant Parties have the right to set user service charges according to these Terms. The relevant Parties also have the right to formulate and adjust the service charges, and set specific service charges to the User to use the relevant Parties’ services and terminate any promotional efforts at any time.
10.2 Unless otherwise stated or agreed upon, the User agrees that the relevant Parties have the right to deduct the above-mentioned service charges directly from the assets of the User account.
10.3 The current service charges information is available here.
10.4 At the relevant Parties’ sole discretion, regional, or country specific pricing may vary based on User’s residence, location, or nationality.
10.5 If you fail to pay the applicable fees (including, but not limited to, service charges) in full or on time, the Parties reserve the right to interrupt, suspend or terminate your account.
11.1 Service Change and Interruption: the relevant Parties may change the Service and/or may also interrupt, suspend or terminate the Service at any time with or without prior notice in their sole discretion.
11.2 Service Discontinuance and Termination: the relevant Parties reserve the right, in their sole discretion, to discontinue or terminate the services provided to you without notice, temporarily or permanently, including, but not limited to, the following cases:
It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the Service, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Additionally, you agree to comply with all relevant laws and regulations. Regarding the prevention of terrorist financing and anti-money laundering, the relevant Parties will work with local authorities. When using our Service, you represent and undertake that your actions are in a legal and proper manner and your sources of digital assets and fiat currency are not derived from illegal activities. If any of the relevant Parties reasonably believe your source of digital assets and fiat currency are derived from illegal activities, the relevant Parties may discretionarily or in coordination with local law enforcement authorities seize, restrict or close-out your account, fiat currency and digital assets.
You shall indemnify the relevant Parties and our agents (if any), employees, officers, directors, affiliates, subsidiaries and successors, and hold them harmless from and against all third-party claims except those resulting solely from the Parties’ breach of these Terms. If you are obligated to indemnify us, the Parties will have the right, in their sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it.
15.1 Network Service Provider: the relevant Parties, as a third party platform for "network service provider", do not guarantee the information and Services provided in this the Site can fully meet the needs of Users. The relevant Parties shall not be liable for errors, insults, defamation, nonfeasance, obscenity, pornography, or blasphemy that may occur during the process of acceptance of the relevant Parties’ web service.
15.2 Service Interruption: Based on the special nature of the internet, the relevant Parties do not guarantee that the service will not be interrupted; the timeliness and security of the service are also not guaranteed, and the relevant Parties do not bear the responsibility mentioned in this paragraph.
15.3 Safety of the Network: the relevant Parties try to provide a safety network environment to the Users; however, the relevant Parties do not guarantee that the Site or its Servers are free of viruses or other potentially harmful factors; therefore, the user should use the industry’s recognized software to check and kill any virus in the files downloaded from the Site.
15.4 User Information: the relevant Parties are not responsible for the failure of preservation, modification, deletion or storage of the information provided by the User. Nor will the relevant Parties be liable for the typographical errors, negligence, etc. not intentionally caused by the relevant Parties. The relevant Parties have the right but no obligation to improve or correct any omission, error of any part of this Site.
15.5 Accuracy, Completeness, and Reliability of the Site: The Services we provide are provided to you on a strictly “AS IS”, “WHERE IS” and “WHERE AVAILABLE” basis. Unless the relevant Parties have expressly agreed in writing, the relevant Parties shall not guarantee the accuracy, completeness, reliability of any content, such as, but not limited to, advertising from the platform in any manner (including but not limited to, containing, connecting, by way of, or downloading) from the Site; the relevant Parties are not responsible for any products, services, information or materials purchased or obtained by the User according to the content information on this Site. The User bears the risk of using the content of this Site.
15.6 User Opinion: The comments published by Users, are the Users personal point of view. It does not mean that this Site agrees with their views or confirms their description. Neither the relevant Parties or this Site shall bear any legal responsibility caused by any User comments.
15.7 Announcements: Notice shall be made by the relevant Parties through a formal page announcement, station letter, e-mail, customer service phone call, SMS or regular mail delivery. The relevant Parties do not accept any legal responsibility for any results, promotion or information which are delivered by channels other than those mentioned in this paragraph.
15.8 LIMITATION OF LIABILITY: EXCEPT TO THE EXTENT REQUIRED BY LAW, IN NO EVENT SHALL THE PARTIES HEREOF, THEIR AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE (A) FOR ANY AMOUNT GREATER THAN THE VALUE OF THE SUPPORTED DIGITAL ASSETS ON DEPOSIT IN YOUR ACCOUNT OR (B) FOR ANY LOST PROFITS, DIMINUTION IN VALUE OR BUSINESS OPPORTUNITY, ANY LOSS, DAMAGE, CORRUPTION OR BREACH OF DATA OR ANY OTHER INTANGIBLE PROPERTY OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE SITE OR THE SERVICES, OR THESE TERMS OF SERVICES, EVEN IF AN AUTHORIZED REPRESENTATIVE OF OKCOIN HAS BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU.
These Terms and your use of the Service will be governed by and construed in accordance with the laws and regulations of the jurisdiction where the applicable Party (being the entity servicing you based on where you are resided) is incorporated. You agree that any action at law pursued by you and arising out of or relating to these Terms not subject to arbitration (as set forth below) will be filed only in the courts where the applicable Party is located (Hong Kong, Singapore, Malta or California, US) and you hereby irrevocably and unconditionally consent and submit to the exclusive jurisdiction of such court over any suit, action or proceeding arising out of these Terms.
You and the applicable Parties agree to arbitrate any dispute arising from these Terms or relating to the Service, except that you and the applicable Parties are not required to arbitrate any dispute in which either party seeks other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. You and the Parties agree that you will notify each other of any dispute within 30 days of when it arises, that you will attempt informal resolution prior to any demand for arbitration in jurisdiction where the applicable Party (being the entity servicing you based on where you are resided) is incorporated and that arbitration will be conducted confidentially by a single arbitrator. You and the applicable Party also agree that the courts in jurisdiction where the applicable Party (being the entity servicing you based on where you are resided) is incorporated have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration. In any arbitration, the parties will not seek discovery from each other, and the arbitrator shall not allow parties to engage in discovery; rather, each party shall disclose the evidence supporting their positions at some mutually agreeable time and date prior to the final hearing. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court.
TO THE EXTENT PERMISSIBLE BY LAW, ALL CLAIMS MUST BE BROUGHT IN A PARTY’S INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE ACTION OR REPRESENTATIVE PROCEEDING. THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS OR ENGAGE IN ANY CLASS ARBITRATION. YOU ACKNOWLEDGE THAT, BY AGREEING TO THESE TERMS, YOU AND OKCOIN ARE EACH WAIVING THE RIGHT TO A JURY TRIAL AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION.
18.1 Separability: If any provision of these Terms is deemed to be unlawful, invalid or unenforceable for any reason, such provision shall be deemed to be divisible and shall not affect the legal effect of any other provision.
18.2 Complaints: If you have any complaints, feedback, or questions, please contact our Customer Service at [email protected]. When you contact us, please provide us with your name and email address and any other information we may need to identify you, and the transaction on which you have feedback, questions, or complaints.
18.3 Assignment: You may not assign any rights, obligations and/or licenses granted under this Terms of Services without our prior written consent. Any attempted transfer or assignment by you in violation hereof shall be null and void. We reserve the right to assign our rights without restriction, including without limitation to any our affiliates or subsidiaries, or to any successor in interest of any business associated with us. Subject to the foregoing, these Terms shall bind and inure to the benefit of the parties, their successors and permitted assigns.
18.4 Change in Control: In the event that we are acquired by or merged with a third-party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.
18.5 Force Majeure: you agree that in no event shall we be liable for any delays, failure in performance or interruption of service which may result directly or indirectly from any cause or condition beyond any Party’s or any our Service Providers’ reasonable control, including but not limited to, significant market volatility, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.
18.6 Unclaimed Property: If there are still funds (either fiat currency or digital assets) in your account but you have not responded to our reasonable attempts to contact you for a period of several years (as defined by the relevant state statutes), We may have an obligation to report any Tokens in your account to the applicable governmental entity as unclaimed property. If this occurs, we will try to locate you at the last updated address shown in our records, but if we are unable to locate you, it may be required to deliver any such funds to the applicable jurisdiction as unclaimed property.
18.7 Miscellaneous: These Terms set forth the complete understanding of the Parties with respect to the subject matter hereof and supersedes all prior understandings and communications relating thereto. No term or condition of any other document provided to the Parties which is different from, inconsistent with, or in addition to the terms and conditions set forth herein will be binding upon the Parties. You represent, warrant and undertake that all information disclosed to the relevant Parties in connection with these Terms are true, accurate, and complete.
18.8 Language: This “Terms of Service” may be posted in different languages. If there are any discrepancies, the English version shall prevail.