This Risk and Compliance Disclosure should be read in conjunction with the Terms of Service (Terms) of VelcomEx Pte. Ltd In plain English, we want you to understand the important risks and compliance matters while you trade on our platform.
We have established and implemented an Anti-Money Laundering, Anti-Terrorist Financing, and Trade & Economic Sanctions Program (“AML/ATF/Sanctions Program” or “Program”) to ensure a robust and compliant digital asset trading platform. We want to promote legal, transparent business activities and maintain a strong reputation among our customers, regulators, and the digital asset industry.
We are a global digital asset trading platform or marketplace, where traders come as buyers and sellers (commonly referred as market-makers and market-takers). For clarity, buyers and sellers trade with each other and not with VelcomEx. We are not counterparty to any trade. Our Services are available through VelcomEx mobile applications and through customer on boarding entities.
Disclosure: Trading is risky. The risk of loss in trading or holding digital assets can be substantial. You should therefore carefully consider whether trading is suitable for you in light of your financial condition.
We understand that regulatory bodies have taken a diverse approach to the laws and regulations regarding digital assets, including some characterizing or defining digital assets as virtual financial asset, convertible virtual currency or virtual commodity. As a trading platform, we believe that all digital assets available on VelcomEx are an innovative alternative asset class; and therefore, digital assets should not be called currency or money
Disclosure: Digital assets are not fiat money or fiat currency. Digital assets are NOT backed by any government or central bank. We may at times have opinions of the different regulatory approaches taken by various government bodies; however, at all times, we will fully abide by rules and regulations of the respective countries we operate in. We regularly communicate with regulators and industry on the best approach to regulating digital asset businesses. Furthermore, VelcomEx does not accept certain customers. To maintain our strong reputation in the market and ensure a robust compliant marketplace, we have decided to not seek nor accept customers from certain jurisdictions.
We cooperate with governments and respect regulations and comply with applicable regulations. As good corporate citizens, we may be asked for information from law enforcement authorities and will assist if permissible by law as law enforcement conduct investigations to pursue and thwart illicit activity. What this also means is that our platform is intended for law abiding customers. We welcome the opportunity to earn your business, and in return we require that you act legally and properly on our platform.