XREX Taiwan General Terms and Conditions

Last Updated: August 19, 2024｜Effective Date: August 26, 2024

XREX Taiwan Platform (hereinafter referred to as "the Platform") provides services operated by XREX Inc. (hereinafter referred to as "XREX" or “we”). Upon completing the registration process, applicants become members of the Platform and are eligible to enjoy various services using fiat currency or virtual assets supported by XREX (hereinafter referred to as "Platform Services" or "Services"). The term "virtual assets" or “crypto” in these terms refers to digital assets issued on blockchain technology, such as Bitcoin, Ethereum, stablecoins, and others.

By checking the box to agree to comply with the "XREX Taiwan General Terms and Conditions" (including all attached terms and subsequent updated versions, hereinafter referred to as "the Terms"), you establish a commercial contractual relationship with XREX. If you do not agree to be bound by the Terms, please discontinue the membership application process or notify us to terminate your membership. We will cease providing you with the Services to ensure your rights.

We reserve the right to modify the Terms (including all attached terms) at any time, and all updates will be announced on our website.

Article 1: Membership Application Requirements

  1. This platform is primarily available for registration by individuals or companies that meet the conditions stipulated in this article. In exceptional cases, membership applications that do not meet these conditions will be reviewed case-by-case. XREX reserves the right to review and decide on approving membership applications appropriately and reasonably. The application requirements are as follows:

    (1) Nationals of Taiwan who have reached the legal age and have full legal capacity. (2) Legal entities registered in Taiwan or government agencies established in accordance with Taiwanese law.

  2. You may terminate your use of Platform Services and your membership at any time. We also reserve the full right to review, suspend, or terminate your membership at our sole discretion.

Article 2: Scope of Platform Services

The Services provided through our website or mobile devices are as follows. XREX only provides the Platform with various functions and Services and does not participate in members' trades, asset transfers, or related activities. We do not offer any transaction advice or negotiations, nor does it establish any relationship arising from such activities as well.

  1. Depositing or withdrawing fiat currency to purchase or sell virtual assets. This Service must be conducted through trust accounts with financial institutions designated by XREX. Each member is assigned a trust virtual account, and the bank will execute the deposits or withdrawals based on the member's instructions or applications on the Platform. The Services outlined in this clause include purchasing virtual assets with funds deposited in the member's trust virtual account (hereinafter referred to as "Account Funding") and withdrawing Account Funding to the member's personal bank account. Regarding trust accounts, please note the following:

    (1) The financial institutions cooperating in the trust arrangement only hold the Account Funding members who actually deposit into the trust account and do not act as asset managers or transaction guarantors. (2) Unless otherwise provided by laws or contracts, the trust beneficiary is XREX, and members are not trust beneficiaries. Therefore, you cannot withdraw cash from the trust account by yourself. Please follow our procedures to withdraw your Account Funding. (3) The cooperating financial institutions do not bear responsibility for verifying the authenticity or custody of the transaction subjects (i.e., virtual assets). (4) XREX and our appointee reserve the right to conduct any necessary inquiries and collect, process, and use your personal and other data to complete user due diligence (including but not limited to verifying your bank account and identity, preventing financial crimes, complying with related policies, etc.) through third parties (including but not limited to cooperating trust financial institutions, anti-money laundering, and counter-terrorism financing service providers and databases). Unless disclosure is required by law or trust contracts, XREX, and its appointed agents are obligated to keep your data confidential.

  2. Virtual Asset trading and order Matching service, including the Grid Bot.

  3. Crypto-to-crypto transfer services.

  4. Crypto-to-fiat transfer services.

  5. virtual assets custody services.

For quality and operational consideration, XREX reserves the right to make appropriate adjustments to the supported fiat currencies, types of Virtual Asset, or other Service content. We will seek reasonable ways to notify you of these modifications and follow up to protect your rights.

The Platform may not function properly or Services may be interrupted under the following circumstances, and XREX is not liable for any damages arising from these situations, which include but are not limited to:

  1. Periods of website updates or system maintenance;

  2. Technical adjustments or equipment failures that prevent data transmission; or

  3. The trust account services are stopped for any reason.

Article 3: Obligations

Upon becoming a member of our Platform, you understand and will comply with the obligations mentioned in this article:

Complete User Identity Verification

You agree to provide complete and truthful personal information (including but not limited to your email, name, address, gender, phone number, nationality, date of birth, tax identification number or ID card number or passport number, a bank account in your name, and other registration and transaction information) to XREX and any third party legally appointed by us (including financial institutions entrusted by XREX for trust cooperation). These third parties may collect, process, or use this personal information within the specific purposes of their entrusted tasks (including but not limited to assisting XREX in verifying the authenticity of the member's bank account, complying with laws, and adhering to anti-money laundering and counter-terrorism financing policies). Based on the results of these inquiries and reports, XREX and these third parties may take any reasonable measures.

Account Security Maintenance

You agree to properly safeguard your account password (including multi-factor authentication devices) in a reasonable manner. You must not imply, disclose, transfer, lend, or authorize any third party to use your account in any way. If you find your account has been or may have been compromised, please change your password and notify our Customer Service Team immediately. We will assist in suspending related transactions and account usage. After clarifying the usage issues, we will reset the password and reactivate the account upon the member's request. Please note that we will never ask for your password or ask you to transfer funds to any account or wallet address not provided by the Platform. Do not trust any unofficial discounts, offers, or messages. XREX is not liable for any losses arising from such situations.

Risk Assumption

You fully understand and agree that XREX does not provide any investment, legal, or tax advice. Given the rapid changes in virtual asset-related industries, you should have basic financial technology knowledge and assume all risks associated with Virtual Asset transactions. Additionally, you should understand that all account transactions are presumed to be conducted by you personally, and the account holder assumes all transaction risks and legal responsibilities.

Fees

To maintain the quality of Platform Services and operations, you agree that XREX may charge transaction or Service fees or related costs. You authorize XREX to deduct relevant fees and payable amounts from your account on the Platform (hereinafter referred to as "User Account") for transactions. XREX reserves the right to adjust the fee rates or set minimum transaction thresholds.

Liability for Damages

Members shall be liable for related damages (including economic losses, attorney fees, and reasonable investigation costs) under the following circumstances:

  1. Violation of the Terms or legal provisions, misuse of Services, harassment, or harm to the rights of other members;

  2. Unauthorized impersonation of a third party or XREX, including implying or falsely stating your relationship with XREX or any third party;

  3. Infringement of any third party’s rights, including but not limited to intellectual property rights, confidential information, or other ownership; or

  4. Harassment or inappropriate behavior towards our Customer Service personnel.

At the same time, XREX reserves the right to refuse to provide all or part of the Services or take other reasonable measures to prevent further damage and comply with government requirements

Article 4: Transaction Processes and Important Notes

Deposit and Transfer of Virtual Assets You can deposit virtual assets into your User Account from a third-party wallet ("Third-party Wallet") provided by third-party providers. XREX also supports the transfer of virtual assets from your User Account to a Third-party Wallet, which may be charged corresponding fees for these requests.

Fiat Currency Deposits You must link your bank account to the Platform to deposit fiat currency as Account Funding. This bank account must be verified by XREX or our service provider. Upon completion of bank account verification, you can deposit Account Funding through such a bank account. Please note that the Platform only supports deposits via ATM, WebATM, or (internet) bank transfers. Deposited Account Funding does not generate interest and is solely for transactions on the Platform.

Fiat Currency Withdrawals You can withdraw Account Funding from your User Account to your bank account. However, Account Funding cannot be withdrawn through ATM or over-the-counter methods. Withdrawal requests may incur corresponding fees. You understand that withdrawing Account Funding to your verified bank account may take approximately three to five business days, subject to the processing times of cooperating financial institutions.

Platform Transactions Buying and selling virtual assets on the Platform are conducted through computer-matching transactions to enhance market efficiency and liquidity. XREX may employ other methods as needed. For detailed information, please refer to the XREX Help Center - Trading.

Article 5: Crime Prevention and Compliance Policies

Upon becoming a member of this Platform, you understand and agree to comply with the following:

  1. To comply with regulations on preventing money laundering, countering terrorism financing, and combating fraud and other financial crimes, XREX has established an Anti-Money Laundering and Counter-Terrorism Financing Policy and related procedures (hereinafter referred to as "XREX AML Policy"). Based on such policy, XREX implements comprehensive customer due diligence procedures, including but not limited to verifying customer identity through reliable and independent sources, maintaining records of documentation, monitoring transactions, and reporting suspicious transactions to regulatory authorities.

  2. You and your related parties (including but not limited to legal representatives, authorized persons, beneficial owners, etc.) agree that XREX and its entrusted third-party institutions, in compliance with regulations, may refuse, suspend, or terminate Services, transactions, and business relationships; freeze User Account assets; disclose personal information per legal requests; or take other necessary measures if any of the following occur. Additionally, you should cooperate by providing the necessary information or assistance to facilitate subsequent processing by XREX. Any damage or inconvenience caused to you and your related parties by implementing the measures in this article will be borne by you and your related parties. XREX is not liable for any damages. (1) To comply with legal regulations or legitimate requests from judicial, tax, or other government authorities. (2) The information you or your related parties provide for identity verification or while using the Services is incorrect, outdated, or incomplete. (3) XREX or its third-party partners discover that you or your related parties are subject to economic sanctions or identified or pursued by foreign governments or international anti-money laundering organizations as terrorists or terrorist groups. (4) During periodic or non-periodic reviews, XREX and its third-party partners may request necessary information about you and your related parties, an explanation of the nature and purpose of transactions, the source of funds, and details on the beneficial owners of corporate accounts. You must provide this information within 14 days of notification. Failure to comply may result in the termination of Services. (5) Your use of Services or User Account, or the source of your funds is suspected of violating any laws, including but not limited to anti-money laundering laws, counter-terrorism financing laws, civil law, criminal law, administrative regulations, or other illegal activities. (6) To protect the rights, property, or personal safety of XREX, its users, or the public.

Article 6: Risk Disclosure

The risk disclosures listed here are not exhaustive. You should independently research the nature of virtual asset transactions and assess your own risk tolerance before deciding to apply for membership or engage in any transactions. The following risks may cause the Platform to malfunction or suspend some Services, and we are not liable for any resulting losses:

  1. Transaction Risk

You understand that the value of virtual assets can fluctuate significantly, which may lead to the loss of all funds invested.

  1. Liquidity Risk

Virtual assets are not legal currencies. Market conditions and external factors may lead to halted or reduced trading volumes, or even cessation of circulation, potentially resulting in the loss of all funds invested.

  1. Regulatory Risk

The virtual asset industry is rapidly evolving and may be explicitly banned by government authorities or subject to regulatory changes that impose additional legal obligations on asset holders or related businesses.

  1. Cybersecurity Risk

You agree and understand that while XREX provides Platform Services according to industry standards and strives to ensure reliability, continuity, and security, it cannot guarantee zero cybersecurity risks. These risks include but are not limited to force majeure events, viruses, malware, hacking, blockchain congestion, system instability not attributable to XREX, third-party service deficiencies, or government regulations, which may lead to Service interruptions, data loss, and other losses and risks.

  1. Technology Risk

You understand that technological risks and limitations exist. Even without any fault on XREX's part, technological equipment (including but not limited to software, hardware, and firmware) may experience force majeure or unexplained failures, leading to Service interruptions and associated risks.

  1. Information Error Risk

We strive to provide complete and timely updates on the website and Platform with integrity. However, we cannot guarantee that all information is entirely accurate or complete. You understand that the information provided by XREX may not be real-time and could be inaccurately or incompletely presented due to third-party or other technical factors. Therefore, you agree not to claim compensation for any decisions made based on XREX's information.

Article 7. Disclaimer

Based on current regulations and contemporary technological capabilities, you understand and agree to the following disclaimers for this Platform and its affiliated entities:

  1. Provision of Information

The information provided by this Platform is offered "as is." XREX does not guarantee the perpetual provision of Platform Services or related content (including but not limited to Platform Services or specific features for all or part of the time). XREX makes no explicit or implicit warranties regarding the revision or improvement of the Platform and the contents of these terms.

  1. Unknown Risks and Responsibilities

Beyond the contents described in this Platform and these terms, there are other unknown risks and uncertainties. You are fully responsible for all transactions or holdings of virtual assets, and you should conduct your own due diligence without relying solely on the information provided by XREX (including but not limited to instructions, reference materials, or publicly available information related to the Platform Services).

  1. External Links

XREX may provide links to external websites and online resources. However, we do not own, control, authorize, endorse, or guarantee these external links. You agree to take appropriate protective measures and understand that when using the Platform Services and this Platform, linking to third-party external links may expose you to offensive, harmful, incorrect, misleading, or inappropriate website content, viruses, or malware. You acknowledge and agree that XREX is not liable for any damages resulting from your linking to external websites.

  1. Third-Party Advertisements

Except for business promotion collaborations, XREX is not responsible for any third-party advertisements, promotions, or statements made regarding XREX Services.

The above disclaimers apply to the fullest extent permitted by law and continue to apply even after these terms are terminated or expire, you cease using the Services, or the Platform stops providing Services.

Article 8: Limitation of Liability

You understand and agree that, to the maximum extent permitted by law, neither XREX nor its affiliates shall be liable for any delay, postponement, or failure in the transfer of funds due to the following circumstances:

  1. Liability Limitation

You understand and agree that XREX and its affiliates (including but not limited to XREX’s directors, officers, employees, agents, representatives, or any other persons involved in the creation, production, or delivery of the Platform Services) shall only be liable for direct damages caused by XREX’s negligence. XREX and its affiliates shall not be liable for damages or losses that could not have been reasonably foreseen.

  1. Unforeseeable Circumstances

XREX shall not be liable for any delay, postponement, or failure in the transfer of your transaction funds due to:

(1) Your violation of these Terms or any policies or agreements incorporated into these Terms, including but not limited to the Privacy Policy, various service terms, etc.

(2) Your failure to complete the verification procedures specified in these Terms.

(3) The inability of cooperating financial institutions to provide part or all of the trust services due to natural disasters, actions of civil or military authorities, acts of terrorism, insurrection, war, strikes or other labor disputes, fires, telecommunications, network service, or network provider service interruptions, equipment or software failures, DOS attacks, blockchain verification congestion, rapid fluctuations in the prices of virtual assets, other disasters, or any other events beyond the reasonable control of cooperating financial institutions.

Continued Applicability

The above limitations of liability shall apply to the maximum extent permitted by law and shall continue to apply after the termination or expiration of these Terms, the termination of your use of the Services, or the discontinuation of the Services by the Platform.

Article 9: Reasonable Exceptions to the Right of Withdrawal for Distance Sales

The Services provided by this Platform are digital content that is not supplied on a tangible medium and are provided with the prior consent of the consumer, or online services that are deemed completed upon provision. Therefore, in accordance with Article 19, Paragraph 2 of the Consumer Protection Act, the right of withdrawal stipulated in Paragraph 1 of the same article is excluded.

Article 10: Privacy Policy

The XREX Taiwan Privacy Policy is part of these Terms. By agreeing to these Terms, you also agree to our Privacy Policy. Please read our XREX Taiwan Privacy Policy carefully, as we take your privacy protection seriously. Make sure to understand how we collect, process, and use your personal data.

Article 11: Intellectual Property Rights

All content and resources on this Platform, including but not limited to text, data, audio-visual materials, images, Platform structure, programming, Platform interface and layout, trademarks, other marks, or information presented on the website, are the intellectual property of XREX or related rights holders, protected by copyright law, trademark law, patent law, trade secret law, or fair trade law.

You may view, capture, or download the information presented on this Platform on any legal device, but only for personal, non-commercial use, and you must retain all statements of our intellectual property rights and other ownership declarations in their entirety.

Without prior permission or authorization from XREX or the rights holders, you may not reproduce, adapt, reverse engineer, or otherwise use the aforementioned website content and resources, to avoid liability for infringement or violation of the law.

Article 12: General Provisions

To protect the rights and interests of both parties, you understand and agree to the following provisions:

  1. Modification of Terms

XREX reserves the right to modify these Terms at any time. Any modifications will be posted on XREX's website. If you do not agree with the modified version, please cease using all Services and contact XREX's customer service for assistance with account processing and to protect your rights. Continued use of XREX's Services will be deemed as acceptance of the modified version.

  1. Governing Law and Dispute Resolution

The Terms are governed by the laws of the Republic of China (Taiwan). Any disputes, controversies, or issues arising out of or related to these Terms, including breaches, terminations, or invalidity, shall be submitted to the Taipei District Court of Taiwan as the court of first instance.

  1. Non-Waiver Clause

If you breach the Terms and XREX does not enforce its rights or delays in enforcing its rights under the Terms, this does not affect XREX's right to assert those rights in the future, nor does it constitute a waiver of XREX's right to seek remedies for your breach.

  1. Severability

If any part of the Terms is found to be invalid or unenforceable, the remaining parts will still be valid and enforceable.

  1. Force Majeure

XREX is not liable for any delays, failures, or interruptions in service caused directly or indirectly by circumstances beyond reasonable control, including but not limited to telecommunications, internet services, or network provider interruptions, hardware, firmware, or software failures, war, riots, embargoes, strikes, or other labor disputes, typhoons, floods, fires, earthquakes, network attacks, blockchain verification congestion, rapid fluctuations in virtual asset prices, other disasters, or any other events beyond reasonable control.

  1. Change of Control

In the event of an acquisition or merger by a third party, XREX has the right to legally transfer the collected information as part of a business transaction.

  1. Taxes

You should consult tax professionals and are fully responsible for all tax obligations arising from using the Platform Services.

  1. Entire Agreement

The Terms constitute the entire agreement between XREX and you, superseding any prior or contemporaneous oral or written statements.

Article 13: Additional Terms

To protect your rights, additional terms govern the products and Services provided on our Platform. Please read and understand these additional terms, which are as follows:

Before using the BitCheck service on this platform, you should understand and agree to the XREX Taiwan BitCheck Service Agreement.

Before using the Crypto Loan and Margin Trading services on the Platform, you should understand and agree to the XREX Taiwan Crypto Loans and Margin Trading Service Agreement.

To ensure effective prevention of illegal activities, protect user transaction security, and strictly comply with anti-money laundering laws and related regulations, XREX has established the XREX Anti-Money Laundering and Platform Rules to create a sound, convenient, and secure trading environment.

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