BitMEX cryptoexchange has changed the conditions of customer service. The document officially submitted by the company indicates all the nuances of cooperation, ranging from access to the trading platform to ownership.
Among the significant additions is access to the web resource. In particular, it is prohibited to users residing in Quebec and the United States, as this is the law of these jurisdictions. Cryptoexchange completely disagrees working with Iranians, Syrians, residents of Sudan, North Korea. This list also includes users from Sevastopol and Crimean peninsula.
Digital media reported, the new agreement has become much longer than the previous version, having increased from 2,800 to almost 5,000 words. In particular, the new sections include updating the company’s policy regarding the conditions for access to the platform, as well as the “accuracy and availability” of services. Also were added sections on trade commissions, data protection and intellectual property.
Regarding access restrictions, the new agreement states:
“If you are in the USA or in province of Quebec, or are their residents, you understand and acknowledge that you are not allowed to hold positions and make contracts on BitMEX. Same goes for Cuba, Crimea and Sevastopol, Iran, Syria, North Korea and Sudan, or any other jurisdiction BitMEX put limitations for its services – the same thing applies in there.”
In the event of an attempt to hide its true location, the exchange reserves the right to immediately close the accounts of “hiding” users and liquidate any open positions.
Another change concerns the ownership of so-called “derivative works” created by users of the platform. Under the new rules, the parent company BitMEX HDR has the right to use these products for any purpose, including commercial ones.
This clause raised many questions among community members, which forced BitMEX made announce that they “do not collect, sell, trade or offer customer data to third parties.” But who knows if it is really true taking in account many recent different cases with big exchanges.
The new user agreement BitMEX will come into force on March 6th.