Risk & Compliance Disclosure
Important information about the risks and compliance frameworks that govern your trading activities on the Cofinex platform.
Introduction
This Risk and Compliance Disclosure should be read in conjunction with the Terms of Service (Terms) of Minos Blockchain SRO (“Cofinex”).
Purpose of our program
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.
Our role and activities
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 COFINEX.
Market Role
We are not a counterparty to any trade. Our Services are available through Cofinex.io, associated application program interfaces and/or mobile applications and through Minos Blockchain SRO (incorporated in Czech Republic).
Regulatory Landscape
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 convertible virtual currency (by USA FinCEN) or virtual commodity (by Hong Kong).
As a trading platform, we believe that all digital assets available on cofinex.io are an innovative alternative asset class; and therefore, digital assets should not be called currency or money.
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 including:
Our AML/ATF Program
We have designed our Program to reasonably prevent money laundering and terrorist financing through a risk-based, multi-layer control system.
Layer 1: Identification
Stringent customer identification program, verifying the identity of individuals and entities consistent with FATF standards.
Layer 2: Screening
Risk-based system screening against OFAC, UN Security Council, and other government-provided sanctions lists.
Layer 3: Monitoring
Ongoing monitoring for suspicious activity. If suspicious activities occur, we will file reports with local regulators.
Risks
Digital assets are NOT backed by any government or central bank. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.
Different versions
This “Risk & Compliance Disclosure” may be posted in different languages. If there are any discrepancies, the English version shall prevail.
Have questions about Disclosure?
Our compliance team is ready to provide further details on our risk frameworks.
support@cofinex.io
