{"id":14141,"date":"2024-10-08T16:44:36","date_gmt":"2024-10-08T08:44:36","guid":{"rendered":"https:\/\/support.idax.exchange\/?post_type=docs&p=14141"},"modified":"2025-01-16T17:29:02","modified_gmt":"2025-01-16T09:29:02","password":"","slug":"terms-and-conditions","status":"publish","type":"docs","link":"https:\/\/primary-tnng-production.up.railway.app\/mn\/docs\/terms-and-conditions\/","title":{"rendered":"Terms and Conditions"},"content":{"rendered":"
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These TERMS AND CONDITIONS OF VIRTUAL ASSET SERVICE (hereinafter referred to as \u201cTerms of Service\u201d) define the conditions and requirements for providing virtual assets services (as defined in the Terms of Service) to the Customer through idax Exchange (hereinafter referred to as \u201cVirtual Asset Service Provider\u201d ) by <\/span>www.idax.exchange website or mobile application (hereinafter collectively referred to as \u201cPlatform\u201d).<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Please read the Terms of Service carefully, as they describe the terms and conditions of use of the Platform and the Services that apply.<\/span><\/div>\n<\/div>\n
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CLARIFICATION:<\/span><\/h4>\n<\/div>\n
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  • These Terms of Service do not cover all matters relating to virtual assets.<\/span><\/li>\n
  • These Terms of Service only govern the relationship between the Virtual Asset Service Provider and the Customer.<\/li>\n
  • Virtual Assets and related communications and the rights granted to Customer under these Terms of Service may be limited by the applicable laws of Mongolia and the Customer’s country of residence (as defined below).<\/li>\n
  • The Terms of Service will create a binding and legal contractual relationship between the Virtual Asset Service Provider and the Customer.<\/li>\n
  • These Terms of Service will not be subject to Customer who refused the terms and conditions or press the \u201cAccept\u201d button below.<\/li>\n
  • These Terms of Service may be updated or changed depending on the relevant laws of Mongolia, international agreements, or decisions of related parties.<\/li>\n
  • The Virtual Asset Service Provider may expand its services, add new services, and update the relevant terms of service during the time the Customer receives the service.<\/li>\n
  • Any changes to the Terms of Service will be effective from the time they are uploaded on the Platform.<\/li>\n
  • If the Customer continues to receive the Service even after the Terms of Service have been updated, the Customer shall be deemed to have accepted the Terms of Service.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n
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    1. DEFINITIONS<\/span><\/h4>\n<\/div>\n
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    The following terms used in these Terms of Service shall have the following meanings. It includes:<\/span><\/div>\n
    \u201cVirtual asset\u201d<\/strong> means a non-material asset with a digital expression of the value that can be digitally transferred, traded, or used for investment purposes other than the digital form of official currency and securities of any country, or electronic money authorized by the Bank of Mongolia;<\/div>\n
    \u201cVirtual asset trading\u201d<\/strong> means the transaction of the exchange between virtual assets and fiat currencies, the exchange between one or more forms of virtual assets, transfer of virtual assets;<\/div>\n
    \u201cCustomer\u201d<\/strong> means a person receiving services from a Virtual Asset Service Provider who clicks the \u201cAccept\u201d button below or accepts these Terms of Service;<\/div>\n
    \u201cCustomer’s address\u201d<\/strong> means the customer\u2019s address (Account) used to access the Platform;<\/div>\n
    \u201cPlatform\u201d<\/strong> is a website, mobile application, and software system based on Blockchain technology provided by the Virtual Asset Service Provider and offered to the Customer;<\/div>\n
    \u201cVirtual asset account\u201d<\/strong> means a digital account with a unique UID number that is created and managed by the Customer on the Platform and contains fiat, virtual asset balances, and transaction information;<\/div>\n
    \u201cFiat\u201d<\/strong> means the official currency of any country;<\/div>\n
    \u201cService Fee\u201d<\/strong> means the fees, commissions, and fees charged by the Company for the provision of virtual asset services as specified in the Terms of Service and the Service Fee Terms and Conditions approved by the Company;<\/div>\n
    \u201cPolitically exposed person\u201d<\/strong> means the President of Mongolia, a member of the State Great Khural, the Prime Minister of Mongolia, a member of the Government, a member of the Constitutional Court, the Chief judge of the State Supreme Court, a judge of the Supreme Court of the State, the State Prosecutor General, and the State Great Khural Heads of directly reporting organizations, governors of provinces and capitals, heads of representatives of provinces and capitals, state secretaries of ministries, heads of government agencies, heads, and directors of state-owned companies, foreign heads of state, heads of governments, political and high-ranking officials of the government, judiciary, military and army, senior officials of state-owned enterprises, persons in the leadership of political parties, members of the board of directors of international organizations, persons who have held or are holding the positions of directors, directors, and deputy directors, or a person related to them;<\/div>\n
    \u201cCustomer with high-risk\u201d<\/strong> means a politically exposed person, a state person declared by an international organization responsible for combating AML\/CFT as having an inadequate control system for combating AML\/CFT, a legal entity, or the person or legal entity conducting the operation in the high-risk industry with assessment for combating AML\/CFT.<\/div>\n
    \u201cKnow your Customer\u201d<\/strong> is the due diligence specified in the policies and programs implemented by the VASP following the activities of combating Money Laundering and Terrorist Financing before providing services to individuals and legal entities;<\/div>\n
    \u201cPrivacy Policy\u201d<\/strong> means a document approved by VASP to regulate relations related to the collection, processing, and use of Customer information by relevant laws and international regulations of Mongolia;<\/div>\n<\/div>\n
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    2. GENERAL REQUIREMENTS FOR CUSTOMER<\/span><\/h4>\n<\/div>\n
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