Terms of use
Last updated: August 31, 2023
These Terms constitute a legally binding agreement between you (" you ", " your ") and BIYWSZ (" BIYWSZ ", " we ", "us" or " our "). These Terms apply to your use of the BIYWSZ Services offered by, through or otherwise provided to you on the Platform. The BIYWSZ Services may be provided by BIYWSZ or by any BIYWSZ Affiliate Partner in accordance with these Terms, any Product Terms or any Additional Terms .
By registering a BIYWSZ account, accessing the BIYWSZ platform and/or using BIYWSZ services, you agree that you have read, understood and accepted these Terms and any additional documents or terms mentioned therein. You acknowledge and agree that you will be bound by and comply with the updated and revised versions of these Terms from time to time.
If you do not fully understand and accept these Terms, please do not register for a BIYWSZ account, or access or use the Platform or any BIYWSZ services.
Risk Warning
The value of digital assets, like any other asset, may fluctuate significantly, and there is a risk of significant financial loss when buying, selling, holding or investing in digital assets. Therefore, please consider whether it is appropriate to trade or hold digital assets based on your own financial situation.
with using the BIYWSZ service, please refer to the Risk Warning (which may be updated from time to time). Please read the Risk Warning carefully, but the Risk Warning does not list all possible risks in detail, nor does it explain the impact of such risks on you personally.
deciding to use Bitfast services, please make sure you fully understand the risks you may encounter.
BIYWSZ is not your broker, intermediary, agent or advisor, and there is no fiduciary relationship or obligation between BIYWSZ and any transaction or other activity you conduct using the BIYWSZ service. BIYWSZ does not provide any type of investment or consulting advice. Any communication or information provided to you by BIYWSZ is not intended to provide any advice and should not be construed as providing any advice.
You should judge whether any investment, investment strategy or related transaction is appropriate based on your personal investment objectives, financial situation and risk tolerance, and bear any related losses or liabilities. BIYWSZ does not recommend that you buy, earn, sell or hold any digital assets. You should conduct due diligence and consult a financial advisor before deciding to buy, sell or hold any digital assets. BIYWSZ is not responsible for your decision to buy, earn, sell or hold digital assets based on the information we provide, including any losses you suffer as a result of such decision.
About the agreement between BIYWSZ and you
1. Introduction
1.1. About BIYWSZ . The BIYWSZ Group is an ecosystem with an online digital asset trading platform as its core, providing users with a trading platform for buying and selling digital assets, an integrated custody solution that allows users to store digital assets, and other digital asset-related services.
1.2. These Terms . When you register for a BIYWSZ account, you are entering into a legally binding agreement with BIYWSZ . These Terms apply to your use of BIYWSZ services and clarify what kind of company BIYWSZ is, how BIYWSZ provides services to you, how these Terms may be changed or terminated, how to resolve problems encountered, and other important information.
You must read these Terms and Conditions and the documents referenced therein carefully. If you do not understand anything, please contact us.
If any local terms apply to your use of the BIYWSZ Services, such local terms shall prevail over these Terms.
1.3. Additional files . Many additional files mentioned in these Terms also apply to your use of the BIYWSZ service. These additional files include:
a. BIYWSZ Privacy Statement , which sets out the terms of our processing of any personal data we collect about you or that you provide to us. By using BIYWSZ services, you understand and agree to such processing and promise that all data you provide is accurate and up-to-date.
b. BIYWSZ's "Risk Warning" contains important information about the potential risks of buying, selling, holding or investing in digital assets.
c. The “Fees Tiered Structure” page on the BIYWSZ official website .
d. Product Terms, which set out the additional terms and conditions applicable to the use of specific BIYWSZ services.
You acknowledge that you are bound by and agree to abide by any relevant additional terms and conditions applicable to the BIYWSZ Services.
2. Eligibility
2.1. Eligibility Criteria . To be eligible to register for a BIYWSZ account and use the BIYWSZ Services, you must:
a. is an individual, company, legal person, entity or other organization with full power, authority and capacity to (1) access and use the BIYWSZ Services; and (2) enter into these Terms and comply with your obligations under these Terms;
b. If you are an individual, you must be at least 18 years old;
c. If you are an employee or agent of a legal entity and are entering into these Terms on its behalf, you must be duly authorized to act on its behalf and to bind the entity to these Terms;
d. not be suspended or disqualified from using the BIYWSZ service;
e. Non-restricted persons;
f. do not currently have a Bitfast account; and
g. The location, place of registration, or place of incorporation is not in the following areas; the person is not a citizen or resident of the following areas; and the person does not conduct business in the following areas:
i. any jurisdiction where accessing or using the BIYWSZ Services would violate applicable law or cause BIYWSZ or any third party to violate any applicable law; or
ii. Countries listed in the Prohibited Countries List.
2.2. Modification of the BitFast eligibility criteria . BitFast may modify the eligibility criteria at any time at its sole discretion. BitFast will try to notify you in advance of any changes. However, we may occasionally need to make changes without notifying you in advance. Such circumstances may include:
a. Changes made in response to legal and/or regulatory changes;
b. the change is in your interests; and/or
c. There is no time to notify you due to other reasonable reasons.
In cases where we are unable to notify you in advance, we will notify you as soon as possible after the changes are completed.
3. How we contact each other
3.1. How you can contact us . For more information about BIYWSZ , please visit the BIYWSZ official website. If you have any questions, feedback or comments, please contact us through the customer service team at BIYWSZ.com . These Terms may specify the contact information for specific notices. The addresses in these notices are not monitored.
3.2. How we contact you . We will contact you using the contact information you provide. This may include contacting you by email, text message or phone. Please make sure you provide correct and up-to-date contact information. If your contact information changes, please notify us immediately. Otherwise, BIYWSZ is not responsible if you do not receive our information, notifications or other important information.
4. BIYWSZ service
4.1. Specific Product Terms . Once you have opened a BIYWSZ account, you may use the BIYWSZ Services in accordance with these Terms and the product terms applicable to each specific service of BIYWSZ .
4.2. Intra-group services. You acknowledge and agree that some BIYWSZ services may be provided by BIYWSZ alliance partners.
5. Chat Service
5.1. Availability of Chat Service . We may make an interactive online chat service (“ Chat Service ”) available to you at any time when you use any BIYWSZ Service . When you use the Chat Service, you may interact with robots, chatbots or other non-humans. To the extent required by applicable law, we will indicate when we use chatbots or other non-humans. By communicating with us through the Chat Service, you authorize us to monitor and store your chat history.
5.2. Important Information . The chat service is provided for convenience and is generally intended to facilitate your understanding of the BIYWSZ Services. The BIYWSZ chat service will make every effort to provide you with accurate and up-to-date information based on your questions or needs. Any content communicated by BIYWSZ in the chat service shall not be considered a legal agreement, representation or warranty reached by BIYWSZ regarding the service, process, decision or response time. Any personal data you share with us when using the chat service is subject to the provisions of the applicable privacy policies and notices set forth in the BIYWSZ Privacy Statement .
5.3. User Chat . In addition, BIYWSZ may provide you with a chat service that allows you to interact directly with other users of the Platform (" User Chat ").
5.4. Prohibited Conduct . You shall not send any abusive, defamatory, fraudulent or obscene information or any information intended to manipulate the market through the Chat Service or any User Chat, nor shall you disseminate false or misleading information or messages that violate applicable laws, which may result in the termination of the Chat Service session and may result in restrictions on your use of the BIYWSZ Services.
6. Handling Fees
6.1. Payment of Fees . You agree to pay all applicable fees associated with the use of the BIYWSZ Services in accordance with the Fee Tier Structure specified on the BIYWSZ website or in any relevant product terms .
You authorize us to deduct all applicable fees, commissions, interest, charges and other amounts owed by you under these Terms or any Product Terms from your BIYWSZ account in accordance with the calculation method specified in the Fee Tier Structure page. If you owe BIYWSZ digital funds (denominated in a certain digital asset) and the amount of such digital asset is insufficient to repay the amount owed, BIYWSZ may deduct the amount owed from other digital assets to pay (in this case, BIYWSZ will convert the digital assets you hold into digital assets (or equivalent fiat currency) denominated in the owed funds at the current price published by the platform or other commercially reasonable prices determined by us). If there are insufficient digital assets in your BIYWSZ account, you acknowledge that any amount due and payable by you under these Terms is a debt due and payable in such amount and form (whether digital assets or other forms) as we can determine through reasonable commercial means.
6.2. Modification of BitFast Fees . BitFast may adjust the Fees from time to time in accordance with Section 18.3 of these Terms.
About your BIYWSZ account
7. Create a Bitfast account
7.1. Opening an Account . You must create and maintain a BIYWSZ account to access the BIYWSZ Services and Platform. An individual may open a BIYWSZ Personal Account, and a company, entity or other organization may open a BIYWSZ Corporate Account.
All BIYWSZ accounts are provided entirely at the discretion of BIYWSZ . BIYWSZ reserves the right to reject any BIYWSZ account application without reason or to limit the number of BIYWSZ accounts you can hold .
7.2. Exclusive Rights . By opening a BIYWSZ account, you agree that:
a. if you are an individual user, you use your BIYWSZ account only for your own use and do not use your BIYWSZ account on behalf of any third party, unless you have obtained BIYWSZ’s prior written consent; and
b. If you are a corporate user, your Licensed Users may use the BIYWSZ Corporate Account only for your benefit and not on behalf of any third party , unless you have obtained BIYWSZ’s prior written consent.
You are fully responsible for all activities that occur on your BIYWSZ account.
7.3. Identity verification . You will need to provide us with relevant information about you and your permitted users (if relevant) and complete our identity verification process before you are allowed to open a BIYWSZ account and access and use the BIYWSZ Services. All information you provide must be complete, accurate and true. You must update such information immediately if it changes at any time.
You authorize BIYWSZ to conduct, directly or through a third party , any investigation BIYWSZ deems necessary to verify the identity of you and any Permitted User, to protect you and/or BIYWSZ from fraud, money laundering, terrorist financing or other financial crime, and to take any action BIYWSZ deems necessary based on the results of such investigation .
You know and understand that BIYWSZ may disclose your and any permitted user's personal data to identity verification, compliance data records, credit investigation, fraud prevention or financial crime agencies when conducting investigations; and you know and understand that these agencies can fully respond to BIYWSZ 's inquiries.
You can view BIYWSZ's Privacy Statement for more information about BIYWSZ's processing of personal data .
7.4. In-depth Due Diligence . BIYWSZ may also require you to submit additional information about yourself, your company or a Licensed User, provide additional records or documentation, or meet face-to-face with a BIYWSZ representative in order to comply with BIYWSZ 's in-depth due diligence procedures.
7.5. Records . BIYWSZ will retain your personal data to enable you to continue using the BIYWSZ Services for as long as necessary to fulfill the relevant purposes described in the Privacy Statement, to achieve relevant laws for tax and accounting purposes, to comply with anti-money laundering laws, or as otherwise communicated to you by other means. Please refer to the BIYWSZ Privacy Statement to understand how BIYWSZ collects and uses users' personal data in connection with the use and performance of the BIYWSZ Website and BIYWSZ Services.
7.6. Subaccounts . BIYWSZ determines at its sole discretion whether you may create and access a BIYWSZ Subaccount. Each natural person who opens a BIYWSZ Subaccount must comply with the identity verification requirements set forth in Section 7 of these Terms. A natural person or legal entity may only open one BIYWSZ Subaccount.
8. Request for Information
8.1. When will BitFast request information from you? BitFast may request information from you at any time to comply with any applicable laws, identity verification requirements, or to detect money laundering, terrorist financing, fraud or any other financial crime or for any other legitimate reason . You agree to provide BitFast with any such information requested by BitFast , provided that such information is necessary to achieve its intended purpose, and to allow BitFast to keep records of such information for the duration of your BitFast account or such other period as may be required by applicable law.
8.2. What happens after you provide information . Your access to your BIYWSZ account and your BIYWSZ service transaction limits will continue to change based on the information collected from you. If there is reason to suspect that any information you provide is wrong, untrue, outdated or incomplete, BIYWSZ may send you a notice asking you to correct or delete the relevant information, or take other measures that BIYWSZ deems necessary to ensure that the information you provide is true and correct.
8.3. If you fail to provide information as requested . You must comply with any request for information we send you. If you refuse to provide information as requested, or fail to provide information in a timely manner, BIYWSZ reserves the right to immediately suspend or terminate your access to your BIYWSZ account or all or part of the BIYWSZ Services without notice .
9. Access your Bitfast account
9.1. Access . To access your BIYWSZ account, you or the Licensed User (where relevant) must have the necessary equipment (such as a computer or smartphone) and be able to access the Internet. Your BIYWSZ account may be accessed directly through the Platform or other access modes specified by BIYWSZ (including APIs) . You may only access your BIYWSZ account using the access ID that BIYWSZ provides to you or the Licensed User for such purposes . BIYWSZ may require multi-factor authentication to ensure the security of your BIYWSZ account.
Use of the Platform and other access methods is subject to additional terms notified to you by Bitfast .
9.2. Restricting access to third parties . You must ensure that any BIYWSZ account registered in your name is not used by anyone other than yourself, or in the case of a BIYWSZ Business Account, by anyone other than your Permitted Users, except as provided for in these Terms.
10. Account Information and Transaction Records
10.1. Your Account History . You can access your account history through the Platform. You must carefully review your account history. If you find any records or transactions that you do not recognize or believe are incorrect, you must report them within 14 days of the date you obtained your account history.
10.2. Errors . BIYWSZ may correct any errors in your account history at any time and reserves the right to void or reverse any transaction that exists or is based on an obvious error, or to amend the details of such transaction to reflect the correct or fair details that would have been in the absence of such obvious error. Without prejudice to the generality of other provisions of these Terms and Conditions and without fraud or malice, BIYWSZ shall not be liable for any direct, indirect, special or consequential loss (including but not limited to loss of profit, loss of opportunity) or claim of any nature suffered or incurred by you as a result of any obvious error arising from any cause, even if you have informed BIYWSZ of the possibility of such occurrence or such circumstances are reasonably foreseeable.
10.3. Information Sharing . BIYWSZ may need to share information about your BIYWSZ account and account history with third parties as required by applicable law . You acknowledge and agree that BIYWSZ has the right to disclose such information. For more information on how BIYWSZ handles your personal data, please refer to the BIYWSZ Privacy Statement .
Using Your Account
11. Instructions
11.1. Issuing Instructions . You must ensure that any instructions you submit are complete and accurate. BIYWSZ is not required to verify the accuracy, authenticity or validity of any instructions and will not monitor or refuse to execute instructions because they are duplicates or appear to be duplicates. However, BIYWSZ may refuse to execute or postpone the execution of any instruction, or seek further information in relation to the instruction, if we have any doubts about the accuracy, authenticity or validity of the instruction.
Instructions are irrevocable. Once submitted, you or the licensed user have no right to revoke or withdraw the instructions without the written consent of BIYWSZ . Your instructions shall not be deemed to have been received by BIYWSZ before they are received by the BIYWSZ server. BIYWSZ's record of all instructions is final and binding on you.
11.2. Act in accordance with your instructions . By submitting instructions, you or a licensed user authorizes BIYWSZ to initiate transactions on your BIYWSZ account. BIYWSZ is therefore entitled to credit or debit (or provide settlement information to a third party so that the third party can credit or debit) digital assets from your BIYWSZ account in accordance with your instructions. If the digital assets or legal tender in your BIYWSZ account are insufficient to complete the transaction (i.e., insufficient to settle the transaction and insufficient to pay all fees associated with the transaction), BIYWSZ has the right to refuse to enter into any transaction. You are responsible for holding sufficient digital assets or legal tender in your BIYWSZ account.
11.3. Instruction Protection . You are aware that instructions and information transmitted through the Platform or email are usually transmitted over the Internet, and the routing path may be public transnational facilities without special protection. BIYWSZ cannot guarantee the protection of transmitted instructions and information from unauthorized access, and you accept the risks associated with this.
11.4. Withdrawal . Subject to these Terms and all applicable product terms, if you have sufficient balance in your BIYWSZ account and do not hold digital assets related to any BIYWSZ service, you may instruct BIYWSZ to transfer digital assets to an external wallet address by submitting a withdrawal request on the Platform. Upon receipt of your withdrawal request, BIYWSZ will: (i) deduct your BIYWSZ account balance; and (ii) initiate an on-chain transfer to the external wallet you specify. BIYWSZ may not process the withdrawal request if BIYWSZ has reason to believe that the execution of the relevant withdrawal will violate applicable law . BIYWSZ may also suspend withdrawals at a time that BIYWSZ deems appropriate to resolve any emergencies on the Platform. Once such incidents are resolved, BIYWSZ will resume withdrawals.
12. Transactions
12.1. Conducting Transactions . You may trade directly with BIYWSZ or other users, and these transactions may or may not be facilitated by BIYWSZ .
BIYWSZ makes no representation or warranty that any transaction will be successfully completed or will be completed within a particular time.
12.2. Unauthorized Transactions . You are solely responsible for controlling or using your BIYWSZ Account. Therefore, BIYWSZ will assume that any instructions issued from your BIYWSZ Account are authorized by you or a Licensed User unless BIYWSZ has been notified otherwise. You should monitor the history for any unauthorized or suspicious activity in your BIYWSZ Account and notify us as soon as possible. BIYWSZ is not responsible for any claims or losses resulting from transactions carried out in execution of unauthorized instructions, unless you have notified BIYWSZ in accordance with this clause.
12.3. Retention of Transaction Information . To promote compliance with global industry standards regarding data retention, you agree to allow (but not require) us to retain records of all transaction information for the life of your BIYWSZ account or other period required by applicable law in accordance with the original intention of retaining the transaction information. Please refer to the BIYWSZ Privacy Statement BIYWSZ.com to understand how BIYWSZ collects and uses data related to the use and performance of the BIYWSZ website and BIYWSZ services.
13. Significant interests and conflicts
13.1. BIYWSZ Group . You are aware that the BIYWSZ Group consists of several companies engaged in digital asset-related businesses, and BIYWSZ is a member of the Group.
13.2. Nature of BIYWSZ 's duties . You understand and agree that neither your relationship with BIYWSZ nor any services provided to you by BIYWSZ , nor any other matter, will give rise to any liability, whether legal, equitable or fiduciary, for BIYWSZ or any BIYWSZ Affiliate, other than those expressly set out in these Terms. In particular, BIYWSZ and any BIYWSZ Affiliate may act in multiple capacities at any time, and BIYWSZ may charge fees or commissions to multiple users (including you) when acting in those capacities. You consent to BIYWSZ acting in such capacities and providing any other BIYWSZ services, or conducting business with or for you, any BIYWSZ Affiliate or any other user, or for BIYWSZ, any BIYWSZ Affiliate or any other user.
13.3. Material Interests . You understand and agree that neither BIYWSZ nor any BIYWSZ Affiliate is required to: (1) consider carefully any information that BIYWSZ or any BIYWSZ Affiliate learns of a Material Interest; (2) disclose any such information to you; or (3) use such information for your benefit. You further acknowledge that BIYWSZ may receive general market information from time to time in the course of providing BIYWSZ Services to you and apply it to BIYWSZ's daily business.
13.4. Conflicts of Interest . BIYWSZ establishes and maintains effective organizational and administrative arrangements designed to take all appropriate measures to identify and manage conflicts of interest between BIYWSZ and BIYWSZ users and relevant third parties, and to prevent conflicts of interest from adversely affecting the interests of BIYWSZ users. If such organizational and administrative arrangements are not sufficient to prevent risks of harm to your interests, BIYWSZ will inform you of the nature and/or source of the relevant conflict of interest and the measures that have been taken to reduce such risks, so that you can make an informed decision whether to continue to trade with us. BIYWSZ always reserves the right to refuse to act in your interests when it is unable to manage conflicts of interest in any other way.
14. Trading Restrictions
14.1. Your trading restrictions . Your BIYWSZ account may be subject to restrictions in the following areas:
a. the amount or number of transactions that can be carried out on your BIYWSZ account; and/or
b. The amount or value of fiat currency or digital assets you can transfer into or out of your BIYWSZ account,
Each of the above situations is limited to a given period (e.g. per day). All applicable limits will be displayed in your BIYWSZ account.
14.2. Changes to your trading limits . BIYWSZ reserves the right to change any trading limits applicable to your BIYWSZ account at any time at BIYWSZ's absolute discretion . You may also request a change to your limits. Any changes will be made at BIYWSZ's sole discretion and will be subject to any further conditions that BIYWSZ deems necessary.
15. Supported digital assets
15.1. Supported digital assets . The BIYWSZ service is only available for supported digital assets, which may change from time to time. BIYWSZ has published a list of supported digital assets on its official website. BIYWSZ may remove or suspend one or more digital assets from the list of supported digital assets and will use reasonable commercial efforts to notify you in advance, which means that you will no longer be able to access such digital assets as part of the BIYWSZ service and can only withdraw them from your BIYWSZ account. If you do not withdraw such no longer supported digital assets within the specified period, BIYWSZ may, at its discretion, exchange them for another type of digital asset, namely stablecoins. BIYWSZ should notify you before making such an exchange, and you can withdraw such digital assets within a reasonable period specified by BIYWSZ and then exchange them for stablecoins.
BIYWSZ is not responsible for the use of your BIYWSZ account to purchase digital assets that we do not support, or for the exchange of such unsupported digital assets for other types of digital assets .
15.2. Forks . When we decide whether to support a fork, we may temporarily suspend any BIYWSZ services related to a specific digital asset . We are not obligated to support forks of digital assets held in your BIYWSZ account, regardless of whether such digital assets will become the dominant digital asset after the fork. If we choose to support a fork of a digital asset, we will make an announcement through the BIYWSZ official website or other means we deem appropriate.
You acknowledge that we have no control and no ability to influence the creation or implementation of forks. BIYWSZ cannot provide any guarantees regarding the security, functionality or supply of any digital asset, including new dominant digital assets or other digital assets subject to the relevant fork. You may not be able to trade forked digital assets through the platform and may lose any value associated with the relevant digital asset.
15.3. Secured Digital Assets . From time to time, BIYWSZ may support digital assets that claim to be secured by other assets or otherwise tied or pegged to other assets, including digital assets, fiat currencies, or commodities such as gold and silver ("Secured Digital Assets"). You agree that you will only engage in any transaction related to it after reading, understanding, and accepting all terms and conditions and risks associated with each specific Secured Digital Asset. BIYWSZ has no obligation to purchase, repurchase, or redeem or facilitate the redemption of your Secured Digital Assets. BIYWSZ reserves the right to change, suspend, or terminate any service related to any Secured Digital Asset. BIYWSZ makes no representation as to whether any particular Secured Digital Asset will maintain its value against any asset, and the quantity or quality of any Secured Digital Asset reserves or collateral held by the respective issuers or any third party .
16. Account Security
16.1. Your Responsibilities . You are solely responsible for taking appropriate measures to protect your hardware and data from viruses and malware and any inappropriate materials. Unless otherwise required by applicable law, you are solely responsible for backing up and maintaining copies of any information you store or transmit through the BIYWSZ service. BIYWSZ is not responsible for any claims or losses you suffer as a result of your failure to comply with the provisions of these Terms.
16.2. Security Measures . You and any Licensed User shall ensure that all of your Access IDs are adequately secured at all times. You are responsible for taking the necessary security measures (or ensuring that your Licensed User takes such measures) to protect your BIYWSZ account and keep your Access IDs secure, including:
a. Strictly comply with all mechanisms or processes of Bitfast ;
b. Create a strong password to ensure your access ID is safe and under control;
c. ensure that the email address and telephone number provided to BIYWSZ are up to date in order to receive any notices or warnings that BIYWSZ may send to you;
d. Do not allow anyone else to remotely access or share your computer and/or computer screen with anyone else while logged into your BIYWSZ account;
e. Please remember that BIYWSZ will never ask you to share your password or two-factor authentication code under any circumstances; and
f. Please exit from the Website or Platform at the end of each session.
You must keep your email account and access ID secure and protect them from any attacks and unauthorized access. If you learn or have reason to suspect that the security of your email or a Permitted User's email has been compromised or that your or any Permitted User's email has been used illegally, you must notify us immediately.
16.3. Monitor Account History . You should monitor your history to detect any unauthorized or suspicious activity in your BIYWSZ account and notify us as soon as possible. You are aware that any security breach may result in unauthorized access to your BIYWSZ account by a third party and may result in the loss or theft of any digital assets and/or funds in your BIYWSZ account and any associated accounts (including your associated bank accounts and credit cards).
16.4. If you suspect a security breach , you must ensure that:
a. immediately notify us using the contact details set out in clause 3.1 and continue to provide us with accurate and updated information throughout the duration of the Security Breach;
lock your BIYWSZ Account by using the Platform’s disable account feature or any other method prescribed by BIYWSZ from time to time ; and
c. take any other steps that BIYWSZ may reasonably request to mitigate, manage or report any security breach.
BIYWSZ reserves the right to request from you any and all information and documentation that BIYWSZ deems relevant or necessary to an actual or suspected security breach, and you agree to provide such information and documentation, and BIYWSZ has the right to provide such information to any third party in order to resolve any security breach.
Other important information
17. Privacy
17.1. Privacy Statement . The collection and use of personal data in connection with these Terms, the BIYWSZ Services, the Platform and any Website is detailed in the Privacy Statement (as updated from time to time). You acknowledge that BIYWSZ will process personal data relating to you, personal data you provide to BIYWSZ or personal data collected from you by BIYWSZ in connection with these Terms in accordance with the Privacy Statement. Your personal data will be processed in accordance with the Privacy Statement, which forms part of these Terms.
You represent and warrant that:
a. You acknowledge that you have read and understood the Privacy Statement .
b. BIYWSZ's business changes frequently, and the Privacy Statement will also change accordingly. Therefore, you should read the alternative version of the Privacy Statement immediately after BIYWSZ provides you with it from time to time .
18. Changes to Terms, etc.
18.1. How and when BIYWSZ makes changes. BIYWSZ may change these Terms and any terms and conditions incorporated by reference (including any Product Terms) at any time, and your acceptance of these Terms constitutes your express consent to such changes. BIYWSZ will notify you of any changes by email or on the BIYWSZ website.
We will notify you of most changes in advance and let you know before the change takes effect. However, we may occasionally need to make changes without notifying you in advance. This may include:
a. Changes made in response to legal and/or regulatory changes;
b. the change is in your interest;
c. the changes are intended to make these Terms clearer to you; and/or
d. There is no time to notify you due to other reasonable reasons.
In cases where we are unable to notify you in advance, we will notify you as soon as possible after the changes are completed.
18.2. When will the changes take effect? Unless the changes take effect immediately, the updated terms will take effect after we notify you. If you do not accept the changes, you may close your BIYWSZ account in accordance with Section 19.1 of these Terms. If we do not receive your comments, we will consider that you have accepted the changes, and your continued access or use of the BIYWSZ service will be deemed as your acceptance of the updated terms.
18.3. Fee Changes . BIYWSZ may also make changes to the fees stated on the Fee Tier Structure page of the official website, including adding new fees and/or charges. If you do not accept such changes, you may close your BIYWSZ account in accordance with Section 19.1 of these Terms . If we do not receive your comments, we will deem you to have accepted the changes, and your continued access or use of the BIYWSZ Services will be deemed as your acceptance of the updated Terms.
19. Close your Bitfast account
19.1. You have the right to close your BIYWSZ account . You may terminate your BIYWSZ account at any time by following the account termination procedures specified by BIYWSZ from time to time . There is no fee for closing your BIYWSZ account, but you must pay all amounts owed to BIYWSZ . You authorize BIYWSZ to cancel or suspend any pending transactions when you close your account and to deduct any amounts owed to BIYWSZ from your BIYWSZ account .
There are some circumstances where you may not be able to close your Bitfast account, including:
a. attempt to evade investigation by relevant authorities;
b. There are pending transactions or outstanding claims;
c. The BIYWSZ account has outstanding payments to BIYWSZ ; or
d. your BIYWSZ account is frozen, detained, restricted or reserved.
19.2. What happens if you close your BIYWSZ account ? If you close your BIYWSZ account, you must withdraw all digital assets in your BIYWSZ account. If you do not withdraw your digital assets or do not access your BIYWSZ account for 90 consecutive days, BIYWSZ will send you a notice that your account will be considered dormant.
19.3. What happens if your account becomes dormant. If you do not respond to a notice under clause 19.2 within 30 days, BIYWSZ may:
a. Mark your BIYWSZ account as dormant;
b. exchange the digital asset for other digital assets. BIYWSZ shall not be liable for any loss of profit, tax liability or any other loss, damage or expense you suffer as a result of such changes;
c. transfer such dormant accounts and/or any digital assets held in such accounts to any third party (including but not limited to other BIYWSZ alliance partners, any third-party custodians or independent wallets) if BIYWSZ deems it reasonably necessary . After such transfer, you have the right to recover the digital assets, but only if BIYWSZ (or the relevant third party)'s reasonable authentication requirements and any other terms and conditions of use are met;
d. adjust your dormant account so that you will receive a contractual claim for the amount and type of digital assets that were held in your BIYWSZ account prior to being redeemed to your dormant account ;
e. Charge dormant account fees, which can be used to pay the cost of maintaining digital assets for any Bitfast affiliate or any third party, and will be deducted directly from the dormant account on a monthly basis; and
f. Close dormant accounts at any time.
Once a dormant account is closed, it cannot be reactivated. If you wish to continue to use the BIYWSZ service, you must register a new BIYWSZ account in accordance with these Terms. You acknowledge that BIYWSZ has no obligation to pay any remuneration, reward or interest related to the credited assets in your dormant account that was originally agreed to be paid in accordance with the applicable Product Terms.
19.4. About your trading account credit score.
A. As this platform is subject to the supervision of various regulatory authorities, if your personal use causes problems with the credit of your current trading account and damages your credit score, you shall bear all the consequences by yourself and have nothing to do with this department.
b. If your personal trading account credit score is reduced due to your personal operation problems, you need to pay the relevant margin to restore the personal trading account credit score problem.
C. If the credit score is not restored by the due date, the company has the right to cancel the settlement, and all relevant matters shall be explained by the platform
20. Termination, Suspension, Suspension and Restriction
20.1. BIYWSZ 's Rights . BIYWSZ may modify or discontinue, temporarily or permanently, any part or feature of the BIYWSZ Services at any time. In particular, BIYWSZ may: (1) refuse to complete or block, cancel or, where permitted by applicable law, refuse to revoke any transaction authorized by you; (2) terminate, suspend or restrict your access to any or all of BIYWSZ's Services; (3) terminate, suspend, close, suspend or restrict your access to any or all of BIYWSZ's Accounts; (4) refuse to transmit information or instructions to third parties (including, but not limited to, third-party wallet operators); and/or (5) take any action that BIYWSZ deems necessary. In each case, this is effective immediately and may be for any reason, including, but not limited to:
a. you are not eligible or no longer eligible to use one or more of the BitFast Services;
b. BIYWSZ has reason to suspect that:
i. You are not the person logging into your BIYWSZ account, or BIYWSZ suspects that your BIYWSZ account has been or will be used for any illegal, fraudulent or unauthorized purpose;
ii. You are not a permitted user when logging into your BIYWSZ account, or BIYWSZ suspects that your BIYWSZ business account has been or will be used for any illegal, fraudulent or unauthorized purpose;
iii. Multiple natural persons access and/or use the same BIYWSZ account to conduct transactions, or BIYWSZ suspects that a BIYWSZ account has been or will be used for any illegal, fraudulent or unauthorized purpose;
iv. The information you provide is wrong, untrue, outdated or incomplete;
c. BIYWSZ has reasonable concerns about your creditworthiness or financial situation, including:
i. If you are an individual user, you are bankrupt, insane, have filed for bankruptcy, or proceedings have been commenced to prosecute you for bankruptcy;
ii. If you are a partnership, any of your partners dies or becomes bankrupt or insane, files for bankruptcy, has commenced proceedings against any partner for bankruptcy, or has instituted proceedings to dissolve and/or vary the partners or the partnership’s articles of association;
iii. if you are a company and the company is unable to pay its debts as they fall due or proceedings have been commenced for insolvency, judicial management, receivership, administration or any similar or analogous proceedings;
iv. you convene a meeting of creditors or propose or enter into any compromise or arrangement with creditors or make any assignment for the benefit of creditors;
d. has not submitted the information and documents required under Article 8;
e. has not submitted to enhanced due diligence as required under clause 7.4;
f. BIYWSZ has reason to believe that we are required to do so by applicable law or by any court or authority in any jurisdiction in which BIYWSZ is located;
g. BitFast has determined or suspected that:
i. You have violated these Terms or any Product Terms;
ii. your breach of any express or implied warranty or any representation made by you in these Terms;
iii. any transaction is unauthorized, erroneous, fraudulent or illegal, or BIYWSZ has determined or suspected that you are using your BIYWSZ account or BIYWSZ services in a fraudulent, unauthorized or illegal manner ;
iv. your BIYWSZ account or your use of BIYWSZ services involves money laundering, terrorist financing, fraud or any other criminal activity;
h. the use of your BIYWSZ Account is subject to any pending, ongoing or threatened litigation, investigation or judicial, governmental or regulatory process and/or BIYWSZ believes that there is a high risk of legal or regulatory violations associated with your BIYWSZ Account activity;
i. any outstanding amounts owed by you to BIYWSZ , whether due to a chargeback or for any other reason;
j. any email sent to your email address is returned as undeliverable;
k. There was a problem verifying your identity;
l. you take any action to circumvent our controls, such as opening multiple BIYWSZ accounts without BIYWSZ 's written consent or abusing any promotions offered by BIYWSZ from time to time; or
m. We have other good reasons for doing so.
BIYWSZ will take reasonable steps to provide you with appropriate notice. However, sometimes we are unable to provide appropriate notice due to applicable legal requirements.
20.2. Acknowledgements by You . You acknowledge and agree that:
BIYWSZ may take to terminate, suspend, close or restrict your access to your BIYWSZ account and/or BIYWSZ services set out in clause 20.1 above are not exhaustive; and
b. BIYWSZ's decision to take certain actions, including but not limited to terminating, suspending or limiting your access to your BIYWSZ account or BIYWSZ services, may be based on confidentiality standards that are essential to BIYWSZ's risk management and security protocols. You agree that BIYWSZ has no obligation to disclose details of BIYWSZ's risk management and security procedures to you .
20.3. What happens if BIYWSZ exercises its rights . If BIYWSZ terminates, suspends, suspends or restricts your access to one or more BIYWSZ services:
a. If you have orders, transactions, positions or open transactions, they may be closed by you or by us, depending on whether we take termination, suspension, hold, restriction or other action;
b. any refund for use of your BIYWSZ account or BIYWSZ services may result in the immediate suspension and/or restriction of your BIYWSZ account and BIYWSZ services;
c. to re-activate a suspended and/or restricted BIYWSZ account or BIYWSZ service, you will need to refund us a full refund including any amounts owed to us (including any applicable fees); and
d. In the event of a refund, you are responsible for any deposit amounts and you authorize us to deduct costs and fees directly from any assets in your BIYWSZ account without further notice.
20.4. Illegal Possession . If BIYWSZ is informed and has reason to believe that any digital assets or fiat currency held in your BIYWSZ account have been stolen or are not lawfully owned by you (whether due to mistake or otherwise), BIYWSZ may (but is not obliged to) freeze the affected funds and your BIYWSZ account. If BIYWSZ withholds some or all of the digital assets or fiat currency in your BIYWSZ account or your entire BIYWSZ account until we have acceptable evidence that you are entitled to the digital assets and/or fiat currency in your BIYWSZ account. BIYWSZ will not intervene in disputes or the resolution of disputes related to any digital assets and/or fiat currency in your BIYWSZ account.
BIYWSZ Services in Other Jurisdictions . Residents of certain countries may only have access to some, but not all, of the BIYWSZ Services. BIYWSZ may change the BIYWSZ Services available to you from time to time. If you travel to a country listed in the BIYWSZ Prohibited Countries List , you will not be able to use the BIYWSZ Services or will be blocked by the BIYWSZ Services. You understand that this will affect your ability to trade on the Platform, and/or monitor any existing orders or open positions, or otherwise use the BIYWSZ Services. You may not attempt to circumvent any such restrictions in any way, including by modifying your Internet Protocol address through the use of any virtual private network.
intellectual property
21. Background Intellectual Property
BIYWSZ intellectual property rights are always owned by BIYWSZ .
22. License of BitFast Intellectual Property
BIYWSZ grants you a non-exclusive license to use the BIYWSZ intellectual property (excluding the Trademarks) in accordance with these Terms, solely to the extent necessary for your use of the BIYWSZ Services for your non-commercial personal or internal business use, during the continuation of these Terms or until we suspend or terminate your access to the BIYWSZ Services (whichever is earlier).
23. License to User Intellectual Property
23.1 You grant a license. You grant BIYWSZ a perpetual, irrevocable, royalty-free, worldwide and non-exclusive license to use the User Intellectual Property, limited to the Intellectual Property:
a. is part of or necessary for the use of any created intellectual property; and
b. is necessary for BIYWSZ to provide you with the BIYWSZ services from time to time.
23.2 BIYWSZ 's right to sublicense . The license you grant under these Terms includes the right of BIYWSZ and any BIYWSZ Alliance Partner to sublicense to third parties for the purpose of providing the BIYWSZ Services or any part thereof to you.
24. Created Intellectual Property
24.1 Created Intellectual Property. Created Intellectual Property shall automatically belong to BIYWSZ from the date of its creation .
24.2 Assignment . You hereby assign ( and agree to cause any agent, representative or contractor to assign) to BIYWSZ all present and future right and interest in and to the Intellectual Property Rights that you create and provide full title security.
If you are required to do so, you shall (and agree to cause any agent, representative or contractor to) sign and/or execute all documents and take all actions that BIYWSZ may request to complete the assignment under these Terms, without charge to you.
25. General
25.1 BIYWSZ is not responsible . You agree and acknowledge that: (1) BIYWSZ is not responsible for any User Materials (whether provided by you or by a third party) that may be made available on the Platform or Website; and (2) your use of any such User Materials is at your own risk and BIYWSZ does not provide any warranty in relation thereto.
25.2 BIYWSZ 's rights . BIYWSZ reserves the right, in its sole discretion, to remove, modify or refuse any content (including any User Materials) you submit, post or display on the Platform or Website for any reason. BIYWSZ reserves the right to take any action we deem appropriate at our sole discretion, including issuing you a written warning, removing any User Materials, seeking damages or other monetary compensation from you, suspending or terminating your BIYWSZ account (if any), or suspending your access to the Platform and/or Website. BIYWSZ also reserves the right to restrict or prohibit your future use of any and all BIYWSZ services.
25.3 Recording. You agree that BIYWSZ may record any communications we have with you in connection with these Terms, whether by electronic communication, telephone communication, video call or otherwise, and that any records retained by BIYWSZ will constitute evidence of the communications between you and us. You agree that BIYWSZ may record telephone conversations and video calls in order for us to respond to inquiries, ensure compliance with applicable laws, improve BIYWSZ services and provide support to our customers.
Your obligations and responsibilities
26. Prohibited Use
Without prejudice to any other restrictions or limitations in these Terms, you agree that by opening a BIYWSZ Account, you and any Permitted User will not:
a. breach of these Terms or any agreement entered into pursuant to or in connection with these Terms (including but not limited to any Product Terms);
BIYWSZ service in a manner that violates the public interest, public morals or the legitimate interests of others , including any behavior that interferes with, damages, negatively affects or prevents other users from using the BIYWSZ service;
c. use the BIYWSZ Services for resale or commercial purposes, including trading on behalf of another person or entity, unless BIYWSZ has expressly agreed in writing;
d. Use the BIYWSZ Services to conduct any conduct that BIYWSZ deems to be intended to control or artificially influence the price of any digital asset (market manipulation), whether or not prohibited by applicable law, including but not limited to pump and dump scams, wash trading, self-trading, front-running, order stuffing, and spoofing or layering;
e. engage in fraudulent activities or cause BIYWSZ to suspect that you or any Permitted User has engaged in fraudulent activities and/or transactions;
f. Use the BIYWSZ service to conduct sweepstakes, bidding auctions, sports predictions or odds calculations, fantasy sports leagues offering cash prizes, online games, contests, winner-take-alls, or games of chance;
BIYWSZ and another user for the same transaction during the Claim Period ; (2) conduct business or use the BIYWSZ Services in a manner that causes or may cause complaints, disputes, claims, reversals, chargebacks, fees, fines, penalties or other liabilities to BIYWSZ , other users, third parties or yourself ; (3) allow your BIYWSZ account to have a negative value or amount of digital assets;
h. provide false, inaccurate or misleading information to BIYWSZ in any communication with BIYWSZ regarding the use of the BIYWSZ Services or otherwise in connection with these Terms ;
i. (1) use any deep link, crawler, robot, spider or other automatic device, program, script, algorithm or methodology, or any similar or equivalent manual process, to access, acquire, copy or monitor any part of the Platform or in any way reproduce or circumvent the navigational structure or presentation of the BIYWSZ Services to obtain or attempt to obtain any materials, files or information through any means other than those intentionally made available through the BIYWSZ Services; (2) attempt to gain unauthorized access to any part or feature of the Platform or any other systems or networks connected to the BIYWSZ Services or any BIYWSZ server or to any BIYWSZ Services offered through the Platform, by hacking, password mining or any other illegitimate or prohibited means ; (3) probe, scan or test the vulnerability of the BIYWSZ Services or any network connected to the Platform, or breach any security or authentication measures on the BIYWSZ Services or any network connected to the BIYWSZ Services; (4) reverse look-up, trace or attempt to trace any information on any other user of or visitor to the BIYWSZ Services; (5) Take any action that imposes an unreasonable or disproportionately large load on the BIYWSZ Services or BIYWSZ 's systems or network infrastructure, or any systems or networks connected to the BIYWSZ Services; (6) use any device, software or routine to interfere with the proper functioning of the BIYWSZ Services, any transactions on the BIYWSZ Services, or any other person's use of the BIYWSZ Services; or (7) forge headers, impersonate or otherwise manipulate identities to disguise your identity or the origin of any message or transmittal you send to us;
j. modify or adapt the Platform or any part of it, or merge or incorporate the Platform into another program or application;
k. disassemble, decompile, reverse engineer or otherwise attempt to derive the source code, object code underlying concepts, ideas and algorithms of the Platform or its components;
l. modify, reproduce, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, delete or alter any copyright notices or labels, or licence, sub-licence, sell, mirror, frame, rent, lease, private label, grant a security interest in, create derivative works or otherwise exploit any part of the BIYWSZ Intellectual Property or any part of the Intellectual Property;
facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information related to the BitFast service;
use any temporary, disposable, self-destructing or similar email address when opening a BIYWSZ account and/or using BIYWSZ services; (3) use any device, software or routine to bypass BIYWSZ 's automatic exclusion headers or interfere or attempt to interfere with the BIYWSZ website or BIYWSZ services; and (4) take any action that could cause BIYWSZ to lose any service from its Internet service provider or other provider;
o. create or purport to create any security over any fiat currency or digital asset held in any of your BitFast accounts without BitFast’s prior written consent ;
p. violate or attempt to violate (1) any applicable law; or (2) BIYWSZ's or any third party's copyright, patent, trademark, trade secret or other intellectual property right, or right of publicity or privacy; and/or
q. (1) directly or indirectly accessing, using or attempting to access or use the BIYWSZ Services from jurisdictions deemed by BIYWSZ to be high risk , including but not limited to Cuba, Iran, North Korea, or Syria; or (2) directly or indirectly accessing, using or attempting to access or use the BIYWSZ Services with persons deemed by BIYWSZ to be high risk , including but not limited to persons or entities named as restricted individuals or groups on any list maintained by the United States, the United Kingdom, the European Union, or the United Nations (including the sanctions lists maintained by the United States Office of Foreign Assets Control, or the Denied Persons List or Entity List maintained by the United States Department of Commerce).
27. Representations and Warranties
You hereby represent and warrant to BIYWSZ to ensure at all times that:
a. All documents and information you provide to BIYWSZ are true, accurate, complete and up-to-date in all respects, and BIYWSZ may use them as a basis for determining whether you are eligible to access the Platform or use the BIYWSZ Services;
b. All decisions related to these Terms are based solely on your own judgment, which is made after independent assessment of your financial resources, ability and willingness to assume relevant risks and achieve your financial goals;
c. you have full power, authority and capacity to (1) access and use the Platform and/or the BIYWSZ Services; and (2) enter into, deliver and perform your obligations under these Terms and any agreements entered into under or in connection with these Terms, including but not limited to any Product Terms;
d. If you are a partner in a corporation, partnership, or trustee of a trust:
i. the company, partnership or trust has been and will continue to be operated in a manner consistent with applicable law and any partnership or trust deed (or other similar document);
ii. you will immediately notify us of any change in the person of any director, partner, trustee, custodian, ultimate beneficiary or any person authorised to operate your BIYWSZ account due to resignation, removal, appointment or death; and
iii. you will promptly notify us if the company, partnership or trust is dissolved voluntarily or involuntarily;
e. have unconditionally obtained in writing and disclosed in writing to BIYWSZ all third party consents, licenses, authorizations, approvals and agreements required for you to (1) access and use the Platform and/or BIYWSZ Services; and (2) enter into, deliver and perform the transactions contemplated under these Terms and any agreement entered into pursuant to or in connection with these Terms, and all authorizations, approvals, licenses, consents, registrations, declarations, filings and unrevoked or amended by any regulator, government department, commission, agency or other organization with jurisdiction over you;
f. These Terms and any agreement entered into under or as a result of these Terms constitute valid and legally binding obligations and are enforceable against you in accordance with their respective terms;
g. You are not a Restricted Person;
h. If you are a legal entity, you are duly registered, established and validly existing in the jurisdiction in which you are located and have full authority to transact business. If you are an individual, you are at least 18 years of age; and
i. Your access to and use of the Platform and/or BIYWSZ Services, execution, transactions and performance of obligations under these Terms and any agreement entered into pursuant to or as a result of these Terms will not:
i. results in a violation or inconsistency of any provision of your constitution, articles of incorporation, partnership agreement, trust deed or equivalent organizational document (if you are a legal entity, a partner in a partnership or a trustee of a trust);
ii. causes or constitutes a breach of any instrument, agreement, document or undertaking to which you are a party or to which you or any of your property is bound or restricted; and
iii. cause you or us or any third party to violate any applicable law, statute or order of any court, or any award of any arbitrator, or any governmental or regulatory authority in any jurisdiction.
28. Technical Disclaimer
28.1. No Representations or Warranties . The BIYWSZ services and any information provided on the Website and Platform , including the chat service, are provided on an "as is" and "as available" basis, without any representations or warranties of any kind, whether express or implied, to the maximum extent permitted by applicable law. Specifically, BIYWSZ disclaims any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement. BIYWSZ does not represent or warrant that access to the Website, the Platform, any of your BIYWSZ accounts, the BIYWSZ services or any materials contained therein will be continuous, uninterrupted, timely or error-free. This may result in periods of inability to trade on the Platform and may also result in delays.
28.2. Suspension of Access . BIYWSZ may suspend access to BIYWSZ accounts and/or BIYWSZ Services from time to time to carry out scheduled and emergency maintenance. BIYWSZ will use reasonable efforts to ensure that transactions on the Platform are processed promptly, but makes no representations or warranties as to the time required to complete processing, which time depends on many factors beyond our control.
28.3. Content . Although we make reasonable efforts to update the information on the Website and Platform, we make no representations, warranties or guarantees, whether express or implied, that the content, including information relating to the BIYWSZ Services, is accurate, complete or up-to-date.
28.4. Third Party Websites . Links to third party websites (including, but not limited to, the content, materials and/or information on third party websites) are provided for convenience, but they are not under our control. You acknowledge and agree that BIYWSZ is not responsible for any aspect of the content, materials, information or services contained on any third party website that may be accessed or linked from the Platform or Website.
28.5. Network Access and Compatibility : You are solely responsible for obtaining data network access necessary to use the BIYWSZ Services. You are solely responsible for obtaining and updating compatible hardware or devices necessary to access and use the BIYWSZ Services, the Website, and any updates thereto. BIYWSZ does not guarantee that the BIYWSZ Services, or any part thereof, will operate on any particular hardware or device. The BIYWSZ Services may be subject to failures and delays inherent in the Internet and electronic communications.
29. Indemnification
29.1. Third Party Claims . You shall indemnify and hold harmless BIYWSZ from and against any claim, suit, action, demand, dispute, allegation or investigation brought by any third party, governmental agency or industry body and from and against all claims, liabilities, damages (actual and indirect), losses (including any direct, indirect or consequential losses, loss of profits, loss of reputation), costs and expenses, including without limitation all interest, penalties, legal and other reasonable attorneys’ fees and other professional costs and expenses (“ Losses ”) arising out of or in any way connected with:
a. you access or use your BIYWSZ account and/or BIYWSZ services;
b. your breach or alleged breach of these Terms, or your breach of any other clause or sub-clause of these Terms, including any Product Terms and any other terms and conditions incorporated by reference;
c. your violation of any applicable laws; and
d. Your violation of any third party’s rights.
29.2. Control . BIYWSZ reserves the right to control the defense of any third-party claim that is subject to indemnification by you, and in such event you will cooperate fully with us in asserting any defense. You will not settle any claim or loss without BIYWSZ ’s prior written consent.
29.3. Release . You hereby agree to release BIYWSZ from any and all claims and demands (and waive any rights you may have against BIYWSZ for any losses you may suffer or incur) arising directly or indirectly from any dispute between you and any other user or other third party arising out of or in connection with the BIYWSZ Services (including any Digital Asset Transaction) or the subject matter of these Terms.
30. Liability
30.1 BIYWSZ 's liability. BIYWSZ and BIYWSZ's affiliates' liability to you or any third party in any event shall be limited to the actual amount of loss or damage directly caused by BIYWSZ's breach of these Terms and reasonably foreseeable, and in no event shall exceed the fees paid by you to BIYWSZ in the 12 months prior to the event giving rise to the loss . This amount will be paid in full by BIYWSZ to you as a final settlement amount and fully reimburses BIYWSZ and any BIYWSZ affiliate for any and all losses and claims arising from breach of contract for any reason. You acknowledge and agree that BIYWSZ or any BIYWSZ affiliate is not aware of any special circumstances of yours, that damages are a sufficient remedy, and that you are not entitled to any other claims or relief at law or in equity, including but not limited to any claims in property, injunctions and/or specific performance.
30.2 Limitation of Liability . Notwithstanding any other provision of these Terms, in no event will BIYWSZ or any BIYWSZ Affiliate be liable to you or any other person or entity for:
a. any direct or indirect loss (including loss of profit, business or opportunity), damages or costs arising out of or in connection with these Terms, including but not limited to:
i. any risks identified in the Risk Warning (as updated from time to time);
ii. the operation, functionality, security or availability of any underlying digital asset protocol;
iii. Whether the secured digital assets are value-preserving, or whether each issuer of the secured digital assets holds sufficient reserves for any secured digital assets;
iv. any act or omission under these Terms;
v. any inaccuracies, defects or omissions in the digital asset price data, any errors or delays in the transmission of such data, and any interruptions in such data;
vi. scheduled or irregular maintenance conducted by BIYWSZ , including any service interruptions and changes caused by such maintenance;
vii. The device that supports access to and use of the BIYWSZ service is stolen;
viii. any damages caused by the actions, omissions or violations of these Terms by other users and any other third-party actions;
ix. (1) any damage or disruption caused by a computer virus, spyware or other malware that may affect your computer or other device, or any phishing, spoofing or other attack; (2) the failure, damage or destruction of your hardware, or the damage or loss of any records or data stored on your hardware for any reason; or (3) your use of the Internet to connect to the BitFast service, or any technical problems, system failures, malfunctions, communication line failures, high Internet traffic or demand, related problems, security breaches or any similar technical problems or defects you encounter;
x. BIYWSZ decides to reject your application to open a BIYWSZ account pursuant to clause 7.1 ;
xi. any termination, suspension, suspension or restriction of any BIYWSZ Account or BIYWSZ Services, including your inability to withdraw Digital Assets, place Instructions or conduct Transactions under these Terms or any Product Terms during any suspension, suspension or restriction;
any trading restrictions imposed on your BIYWSZ account pursuant to clause 14.1 ;
xiii. any choice made by BIYWSZ to support or not support Digital Assets in accordance with Clause 15.1;
xiv. BIYWSZ is unable to contact you via the contact information you provided under clause 3.2;
xv. BIYWSZ closes dormant accounts in accordance with clause 19.3;
xvi. failure to complete a Transaction or meet any of its completion deadlines pursuant to clause 12.1;
xvii. market making activities carried out by the Market Maker pursuant to Clause 13.2;
xviii. any instructions sent by BIYWSZ in accordance with your BIYWSZ account or email address;
xix. BIYWSZ ’s refusal to execute any instruction or any delay in executing any instruction pursuant to clause 11.1;
xx. any security breach or vulnerability of your email address;
xxi. only covers losses caused to you by fraud or deception by a third party who uses BIYWSZ as the recipient of your fiat currency or digital assets, or converts your fiat currency into digital assets at your request, or transfers your digital assets out of the BIYWSZ platform;
xxii. any losses arising from or related to the issuance of new digital assets, initial coin offerings (ICOs), or the decision to list or not list digital assets on the Platform;
xxiii. the correctness, quality, accuracy, security, completeness, reliability, performance, timeliness, price or continued availability of the BIYWSZ Services, or any delay or omission in the use of the BIYWSZ Services, or any failure of any connection or communications service to provide or maintain your access to the BIYWSZ Services, or any interruption or disruption of your access, or any communications errors between us for any reason, and
any transaction, instruction or action you carry out or purport to carry out through your email or BIYWSZ account;
b. any loss of business, profits, anticipated savings or opportunity, or any special, punitive, aggravated, incidental, indirect or consequential loss or damage, whether arising out of or in connection with the BIYWSZ website, the platform, your BIYWSZ account, the BIYWSZ services, these terms, the product terms, the privacy statement and/or any agreement entered into under these terms or otherwise; and/or
c. any losses that form part of a claim that has not been settled by formal legal action commenced within one calendar year after the event giving rise to the claim. You agree and acknowledge that this clause will modify any limitation period required by law and, if applicable law prohibits this, this clause will be construed as a limitation period of the shortest enforceable period. Without prejudice to the generality of the foregoing, please note Section 32: Claims may only be resolved by binding arbitration.
30.3 Damage or disruption . BIYWSZ is not responsible for any damage or disruption caused by computer viruses, spyware, malware, Trojan horses, worms or other malicious software that may affect your computer or other devices, or for any phishing, spoofing or other attacks. BIYWSZ recommends that you regularly check for viruses using reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are susceptible to spoofing and phishing attacks and you should be cautious when viewing messages purporting to be from BIYWSZ . You and, where relevant, Permitted Users are solely responsible for the security of all login credentials (including usernames and passwords) and should keep details related to account security secure at all times.
Dispute Resolution: Waiver of Court, Arbitration, and Class Actions
For the avoidance of doubt, nothing in this section will deprive you of any legal rights you may have under applicable law.
31. Claim Notification and Dispute Resolution Period
31.1. If you have any concerns about the Service, please contact BIYWSZ first for resolution. If possible, BIYWSZ hopes to resolve your concern without resorting to formal legal proceedings. If the initial resolution of the concern is not satisfactory to you, then BIYWSZ will issue you a ticket. The issuance of the ticket will automatically initiate the internal dispute resolution process. BIYWSZ will attempt to resolve the dispute internally as quickly as possible. The parties agree to negotiate in good faith to resolve the dispute (discussions to resolve the dispute shall be confidential and subject to the relevant provisions that settlement discussions may not be used as evidence in any legal proceedings).
31.2. If a Dispute cannot be resolved to your satisfaction and you wish to assert a claim against BIYWSZ , you agree to set forth in writing the basis for such claim in a “Notice of Claim” and give it as prior notice to BIYWSZ . The Notice of Claim must (1) describe the nature and basis of the claim or dispute; (2) state the specific relief sought; (3) provide the original order number; and (4) include the email address for your hosting account. The Notice of Claim should be submitted to the following URL: BIYWSZ.com . Once you submit a Notice of Claim to BIYWSZ , the dispute referred to therein may be submitted to arbitration by either BIYWSZ or you in accordance with the terms below (the “Arbitration Agreement”).
31.3. For the avoidance of doubt, submitting a dispute to Bitfast for internal resolution and sending a Notice of Claim to Bitfast are prerequisites to commencing arbitration proceedings (or any other legal proceedings).
31.4. During the arbitration, any settlement amount proposed by you or BIYWSZ shall not be disclosed to the arbitrator.
32. Arbitration Agreement
32.1. Unless applicable law provides otherwise or provides you with another choice, you and BIYWSZ agree that, subject to the above provisions (Claim Notification and Dispute Resolution Period), any Claim shall be determined by binding and final individual (not class) arbitration administered by the Hong Kong International Arbitration Centre (“ HKIAC ”) in accordance with the HKIAC Rules then in effect, which Rules are incorporated by reference into these Rules.
32.2. The place of arbitration shall be Hong Kong.
32.3. The arbitral tribunal shall consist of one (1) arbitrator who shall be appointed in accordance with the HKIAC Rules then in force.
32.4. The language of the arbitration shall be English.
32.5. You and BitFast further agree that the arbitrator shall have exclusive authority to rule within his or her own jurisdiction, including, without limitation, exclusive authority to rule on any objection to the existence, scope, or validity of the Arbitration Agreement or the arbitrability of any Claim.
32.6. The arbitration clause set forth in this Article will survive any termination of these Terms.
32.7. Limitation Period for Application: Any arbitration against BIYWSZ must be commenced by filing and serving a Notice of Arbitration in accordance with the HKIAC Rules within one (1) year after the date on which the User asserting the claim first discovered or should have discovered the alleged act, omission or default giving rise to the claim (the “ Limitation Period ”). For the avoidance of doubt, the Limitation Period shall include the Dispute Resolution Period set forth in Section 31.1. If User fails to file and serve a Notice of Arbitration on BIYWSZ with respect to any claim within the Limitation Period, User shall not be entitled to any remedy or relief with respect to the relevant claim. If the Limitation Period is inconsistent with applicable law, User must file any claim against BIYWSZ within the shortest time permitted by applicable law . The Notice of Arbitration may be served on BIYWSZ in accordance with applicable law and the Service Rules .
32.8. Note: If BIYWSZ initiates arbitration against you, BIYWSZ will send the notice to the email or mailing address you provide. You agree that any notice sent to that email or mailing address may be valid for any purpose, including but not limited to determining the adequacy of service. You are responsible for ensuring that the email and/or mailing address on file with BIYWSZ is the most up-to-date and accurate address.
33. Confidentiality
33.1. The parties agree that the arbitration shall be confidential. The existence of the arbitration, the fact of the existence of a claim or its substance, all documents and information provided or exchanged in connection with the arbitration, submissions made during the arbitration, any order made or any award rendered shall be confidential and shall not be disclosed by either party to any third party other than the Arbitral Tribunal, HKIAC, the parties, their counsel, experts, witnesses, accountants and auditors, insurers and reinsurers and any other persons necessary for the conduct of the arbitration. Notwithstanding the foregoing, either party may disclose the following confidential information:
a. if the other party has given written consent;
b. to the extent required by applicable law or the regulations of any regulatory or supervisory body with jurisdiction to which the party is or may be subject, or pursuant to any order of a court or other competent authority or tribunal of competent jurisdiction;
c. in connection with the commencement, prosecution or defense of any bona fide legal proceeding by a party to enforce or challenge any award rendered in the arbitration; and
d. The relevant confidential information enters the public domain without any violation of this Agreement.
The confidentiality provisions of these Terms shall survive termination of these Terms and the conclusion or suspension of any arbitration initiated under these Terms.
34. Governing Law
Except to the extent applicable law provides otherwise or provides you with another choice, these Terms (including this Arbitration Agreement) shall be governed by and construed in accordance with the laws of Hong Kong.
35. Waiver of Class Actions
You and BitFast each agree that any claim shall be brought against BitFast in your individual capacity and not as a plaintiff or class member in a purported class or representative action . To the extent permitted by applicable law, you further agree to waive any right to bring, hear or arbitrate such claims in a class, class, representative or private attorney general action. Individual arbitrations may not be consolidated or joined into one arbitration without BitFast’s consent.
General
36. General Terms
36.1. Applicable Law . You and any Permitted User must comply with all applicable laws, licensing requirements and third-party rights (including data privacy laws and anti-money laundering and countering the financing of terrorism laws) when using the BIYWSZ Services, your BIYWSZ Account and the Platform.
36.2. Notice . BIYWSZ may send notices to your email account by email. You are responsible for ensuring that you provide the latest and accurate email account. If a notice is sent via an email account, it shall be deemed that the notice has been sent and received regardless of whether you receive a failure notice.
You may only give notice to BIYWSZ in accordance with BIYWSZ 's instructions , which may change from time to time.
Any notice, consent or other communication given under these Terms must be in writing, in English, and signed or otherwise authorized by the party giving it.
36.3. Announcements . All official announcements, news, promotions, competitions and airdrops will be posted on the Official Website. These announcements are important and may relate to matters of concern that may affect the value or security of your digital assets. You are solely responsible for following the Official Website, reading and considering the announcements.
36.4. Entire Agreement . These Terms and any applicable Product Terms constitute the entire agreement between you and BIYWSZ in relation to the BIYWSZ Services. Each party acknowledges that it has not relied on, and shall have no rights or remedies in respect of, any statement, representation, warranty or guarantee (whether made negligently or innocently) other than as expressly set out in these Terms or any Product Terms.
36.5. Assignment . You may not assign or transfer any of your rights or obligations under these Terms without BIYWSZ’s prior written consent. However, BIYWSZ may assign or transfer any of its rights or obligations under these Terms to any other person at any time, including, without limitation, in connection with any merger, acquisition or other corporate reorganization of BIYWSZ .
36.6. Invalidity . If at any time any clause or sub-clause of these Terms becomes illegal, invalid or unenforceable in any respect, the legality, validity or enforceability of the remaining clauses or sub-clauses will not be affected or impaired in any way.
36.7. Recording . You agree that BIYWSZ may record any phone calls, emails, chat conversations and any other forms of communication between you and BIYWSZ, including communications between you and BIYWSZ regarding sending instructions or effecting transactions, and you agree that such records may be used as evidence in any litigation relating to any agreement with you. Such records will be the sole property of BIYWSZ .
36.8. Language . These Terms may be translated into a language other than English. Any such translation is provided solely for your convenience. In the event of any conflict or inconsistency, the English text shall prevail.
36.9. Third Party Rights . Except with respect to BIYWSZ Affiliates, nothing in these Terms or any reference to anything in these Terms shall be construed as conferring upon any person other than the parties hereto any legal or equitable right, remedy or claim under or in connection with these Terms or any term or sub-term thereof. These Terms and all terms and sub-terms thereof shall inure exclusively to the benefit of the parties hereto and their successors and permitted assigns.
36.10. Survival . All clauses and subclauses of these Terms that by their nature should survive expiration or termination of these Terms will continue to be binding and effective after such termination or expiration.
36.11. Relationship between the Parties . BIYWSZ is not your agent for the enforcement of these Terms. These Terms shall not be construed as the fact or evidence of any association, joint venture, partnership or franchise between the Parties.
36.12. Digital Assets. BIYWSZ records the amount and type of any Digital Assets in your name in your BIYWSZ Account. BIYWSZ is not the custodian of any Digital Assets in your name and has no custodian liability for any Digital Assets in your name. When you instruct BIYWSZ to transfer or otherwise deal with Digital Assets, BIYWSZ will not use any specific Digital Asset (no matter how identifiable) to execute your instructions. Subject to the provisions of these Terms, BIYWSZ will use the same type of Digital Assets as the amount of Digital Assets credited to your BIYWSZ Account when executing your instructions.
36.13. Force Majeure . BIYWSZ shall not be liable for any delay or failure to perform under these Terms if performance is delayed or prevented by a Force Majeure Event .
36.14. No Waiver . Any delay or failure by BIYWSZ to exercise any right or remedy under these Terms will not operate as a waiver of future exercise of such right or remedy or a waiver of any other right or remedy under these Terms. The rights and remedies provided in these Terms are cumulative and not exclusive of any rights or remedies provided by applicable law.
36.15. Offset . In addition to any legal or other remedies provided by these Terms or by law, BIYWSZ may set off any amounts owed by you to BIYWSZ under these Terms or otherwise. You must pay all amounts owed to BIYWSZ in full without setoff, counterclaim, deduction or withholding of any kind, except to the extent such setoff, counterclaim, deduction or withholding is required by applicable law.
36.16. Privacy of Others . If you receive information about another user through the Platform or through the use of the BIYWSZ Services, you must keep such information confidential and use it only in connection with the BIYWSZ Services and always in accordance with applicable law. You may not disclose or distribute any user information to third parties or use such information in any manner other than as reasonably necessary to effectuate a transaction.
36.17. Violation Publication . If you violate these Terms, BIYWSZ may publish or otherwise make available to BIYWSZ users details of your violation (including any information you provided to BIYWSZ ). BIYWSZ will only do so if it determines that such action is necessary to protect other users or to comply with applicable law.
36.18. Death of a BIYWSZ Account Holder . If you die or become incapable, your personal representative or survivor(s), must notify BIYWSZ in writing as soon as possible . If we have reason to believe that you have died, we may suspend your BIYWSZ account. Your BIYWSZ account will be suspended until:
a. your personal representative or authorized beneficiary, (1) creates a BIYWSZ account in accordance with these Terms; or (2) provides wire transfer instructions; and
b. provide sufficient legal documentation to prove that they have the right to receive the assets in your BIYWSZ account; or
c. You provide sufficient evidence to prove that you are not deceased.
The beneficiary receiving the wire transfer will receive the liquidated value of the assets in your BIYWSZ account, less any fees and costs associated with the transfer. BIYWSZ 's ability to provide the assets in your BIYWSZ account to your representative is subject to applicable law and the limitations set forth in these Terms. BIYWSZ does not commit to any specific timeline for the transfer of assets in your BIYWSZ account.
36.19. Taxes . You are responsible for determining what taxes, if any, apply to payments you make or receive, and for collecting, reporting and paying the correct taxes to the relevant tax authorities. You agree that BIYWSZ is not responsible for determining whether any taxes apply to your use of the BIYWSZ Services, and is not responsible for collecting, reporting or paying any taxes arising from any transactions or use of the BIYWSZ Services.
You understand that BIYWSZ may file certain reports with tax authorities regarding transactions conducted through the Platform, and BIYWSZ may, at its sole discretion or as required by applicable law, provide you with additional documents or records necessary for you to calculate any taxes. BIYWSZ may also withhold and deduct at source any taxes payable under applicable law as determined by us in our sole discretion.
37. Definitions and Interpretation
Under these Terms:
a. The headings and numbering of these Terms are for convenience only and shall not affect the meaning, priority or interpretation of any clause or sub-clause thereof;
b. the expressions “include” or “including” mean including but not limited to;
c. a promise to do or not to do something shall be deemed to include a promise not to permit or accept that thing;
d. words denoting the singular include the plural and vice versa and words denoting gender include both genders;
e. any reference to any Document is a reference to that Document as amended, modified or updated from time to time and not a reference to a breach of these Terms or that Document; and
f. In the event of any inconsistency between the provisions of these Terms and Conditions (including any documents referred to therein), the provisions and documents shall prevail in the following order of precedence:
i. Product Terms;
ii. Privacy Notice ; and
iii. These Terms.
g. Unless the context requires otherwise, the following terms shall have the following meanings:
Access ID means your BIYWSZ account details, username, password, personal identification number, API key, API encryption key or any other code or form of authentication that you use to access your BIYWSZ account or BIYWSZ Services or to send instructions.
Account History means the written record (including electronic record) of your transactions and your BIYWSZ Account.
API refers to Application Programming Interface.
Applicable Law means all relevant or applicable statutes, laws (including rules of common law), principles of equity , rules, regulations, regulatory principles and requirements, notices, orders, writs, injunctions, judgments, bye-laws, rulings, instructions, notices, circulars, mandatory codes of conduct, guidelines, practice notes and interpretations (whether of a governmental, regulatory or other body or a self-regulatory body of which BIYWSZ is a member) applicable to the provision, receipt or use of the BIYWSZ Services or the provision, use or acceptance of any other products or deliverables in connection with the BIYWSZ Services, these Terms or any Product Terms.
Secured Digital Assets has the meaning set forth in Section 15.3.
BIYWSZ , we , us or our means Nest Services Limited, a company incorporated under the laws of the Republic of Seychelles with registration number 238045 and registered address at House of Francis, Room 303, Ile Du Port, Mahe, Seychelles.
BIYWSZ Account means any account (including a BIYWSZ corporate account) or sub-account (including any BIYWSZ sub-account) opened by BIYWSZ that records your use of BIYWSZ services .
BIYWSZ Alliance Partner means, in relation to Nest Services Limited, any other person who directly or indirectly controls, is controlled by or is under common control with Nest Services Limited.
In the case of BIYWSZ , BIYWSZ API means the API provided to you by BIYWSZ Affiliates as a service or in the form of a third party application that relies on such API.
BIYWSZ Intellectual Property means the Creative Intellectual Property and all other Intellectual Property owned by BIYWSZ or licensed to BIYWSZ on a sub-licensed basis as of the date of these Terms, and any other Intellectual Property owned, acquired by BIYWSZ or licensed to BIYWSZ on a sub-licensable basis after the date of these Terms , and the Intellectual Property that you provide to BIYWSZ in the course of BIYWSZ's provision of the BIYWSZ Services to you .
BIYWSZ Service means the services provided by BIYWSZ to you through the Platform.
BIYWSZ sub-account refers to a sub-account established under a BIYWSZ primary account.
Chat Service has the meaning set out in Section 5.
Claim means any dispute, claim, disagreement or controversy between you and BIYWSZ (and/or any BIYWSZ Affiliate) arising out of, relating to or in any way connected with:
(a) these Terms or any Product Terms, including their existence, validity, subject matter, interpretation, performance, breach, negotiation, termination, enforceability or the consequences of their invalidity;
(b) the relationship between you as a User and BIYWSZ (and/or any BIYWSZ Affiliate) (whether such relationship is based on contract, tort, statute, fraud, misrepresentation or any other legal theory, and whether or not a claim arises during or after the termination of these Terms); or
any non-contractual obligations arising out of or in connection with these Terms, any Product Terms or the relationship between you and BIYWSZ (and/or any BIYWSZ Affiliate Partner).
Control is the power of one person to ensure that the affairs of another person are conducted in accordance with the first person's wishes. Control can be achieved by:
(a) in the case of a corporation, being the beneficial owner of more than fifty percent (50%) of the issued share capital or voting power of the corporation; or having the power to appoint and remove a majority of the directors; or controlling the voting at meetings of the board of directors of the corporation by virtue of any power conferred by the constitution, shareholders’ agreement, majority of the board of directors or any other document governing the affairs of the corporation; or by any other means; or
(b) in the case of a partnership, being the beneficial owner of more than fifty percent (50%) of the capital of the partnership; or being entitled to control the composition of the management of the partnership or a majority of the voting power by virtue of any power conferred by the Partnership Agreement or any other document governing the affairs of the partnership; or by any other means.
BIYWSZ Corporate Account means a BIYWSZ account opened for a company, entity or other organization for the purpose of providing BIYWSZ services .
Created Intellectual Property means any intellectual property created by you under these Terms, including User Materials but excluding any other User Intellectual Property.
Digital assets refer to digital representations of value or rights that can be transferred and stored electronically using distributed ledger technology or similar technologies, including but not limited to cryptocurrencies, stablecoins, non-fungible tokens and any other tokenized derivatives of digital assets.
Dominant Digital Assets refer to forked digital assets that are dominant over one or more other versions of digital assets resulting from a fork determined at the sole discretion of Bitfast .
Email Account means the email account associated with your BIYWSZ Account as agreed with BIYWSZ from time to time when you use the Platform in accordance with any process determined by BIYWSZ .
Fiat currency means any national or supranational currency issued by a government or central bank, or other monetary debt denominated in such currency that is not a digital asset.
Force majeure events are:
a. any fire, strike, riot, civil commotion, act of terrorism, war or industrial action;
b. Any natural disasters such as floods, tornadoes, earthquakes and hurricanes;
c. any epidemic, outbreak or public health emergency of national or international concern;
any act or regulation made by a government, supranational body or authority which BIYWSZ considers prevents BIYWSZ from providing the BIYWSZ Services on the Platform ;
e. Any BIYWSZ affiliate partner is suspended or closed;
f. any nationalization of any BIYWSZ affiliate partner;
g. The government imposes restrictions or unusual terms on any digital asset traded on the BIYWSZ platform;
h. excessive changes in the price, supply or demand of any Digital Asset;
i. technical failures of transmission, communications or computer facilities, including power failures and electronic or equipment failures;
j. Any provider, intermediary broker, agent, primary custodian, sub-custodian, dealer, trading platform, staking platform, liquidity pool, bridge provider, issuer of collateralized digital assets, market maker, clearing house or regulator fails to perform its obligations to BitFast ;
k. The liquidity provider does not provide or is unable to provide liquidity to BIYWSZ ;
l. any labour or industrial dispute, strike, industrial action or lock-out ( other than industrial action or lock-out by BIYWSZ or a BIYWSZ affiliate); and/or
m. Events that materially disrupt the digital asset market, which may include excessive changes in the price, supply, or demand for a digital asset, whether regulated or unregulated.
Forks refer to any planned, unplanned, sudden, prearranged, expected, unexpected, publicly advertised, unknown, consensual and/or controversial changes in the basic operating rules of certain digital assets that may occur from time to time, resulting in the creation of one or more related versions of existing digital assets.
Forked digital assets refer to digital assets generated by forking.
Instructions means any instructions, requests or orders given by you or a Licensed User to BIYWSZ in connection with the operation of your BIYWSZ Account or instructions that BIYWSZ may require to execute any Transaction through such medium, in such form and manner.
Intellectual Property Rights means: (a) copyright, patents, database rights and rights in trade marks, designs, know-how and confidential information (whether registered or not); (b) applications for registration of any of the foregoing rights and the right to apply for registration of any of the foregoing rights; and (c) all other intellectual property rights and equivalent or similar forms of protection which exist anywhere in the world.
“Prohibited Countries List” means the list of countries accessible via BIYWSZ.com .
Local Terms means the terms set out in any particular jurisdiction that govern your use of the BIYWSZ Services.
Loss has the meaning set out in Clause 29.1.
A Manifest Error means any error, omission or misquote (whether by BIYWSZ or any third party) which is obvious or readily detectable, including any misquote made by any representative of BIYWSZ taking into account current markets and currently advertised quotes, or any error in any information, source, officer, official result or pronunciation.
Mobile App means any mobile application developed or provided by BIYWSZ or any BIYWSZ Alliance Partner that enables you to use or otherwise access the BIYWSZ Services.
Permitted User means any person nominated by you under these Terms who is authorised to act on behalf of that User for any BIYWSZ Business Account and to notify us of such act.
Platform means the digital platform through which BIYWSZ or any of its affiliates can provide the BIYWSZ services to you through the official website, mobile app,
BIYWSZ API or other means specified by BIYWSZ affiliates from time to time . Privacy Notice means the privacy notice published on BIYWSZ.com .
“Product Terms” means the product-specific terms and conditions applicable to the use of the BIYWSZ Services in addition to these Terms.
Regulatory Authority means any foreign, domestic, state, federal, municipal or local government, executive, legislative, judicial, administrative, supervisory or regulatory authority, agency, quasi-governmental body, court, commission, governmental organisation, self-regulatory body with a regulatory authority, tribunal, tribunal or panel or supranational organisation, or any instrumentality or agency thereof, including any tax authority.
A restricted person is an individual or legal entity that: (a) is listed on any trade embargo or economic sanctions, terrorist or foreign corrupt official list (lists published by government agencies, such as the United Nations Security Council sanctions lists, including the Specially Designated Nationals List maintained by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), or the U.S. Department of Commerce's Denied Persons or Entity List, or lists published by the United Kingdom, the European Union, or Canada); or (b) is resident, established or operating in any country listed on the Prohibited Countries List .
Risk warnings refer to the general risk warnings published on the official website.
Security vulnerabilities
a. your BIYWSZ account or any of your access IDs has been compromised;
b. loss, theft or unauthorized use of any of your access IDs, or access and use of your BIYWSZ account or BIYWSZ services on your behalf without your authorization; or
c. any other security incident (including network security attacks) affecting you and/or BitFast .
Website means the BIYWSZ official website and any other website, page, feature or content owned or operated by BIYWSZ .
Supported digital assets refer to digital assets that you can use when using the BIYWSZ service.
Terms means these Terms of Use, and any other documents expressly incorporated by reference, including the Product Terms, all of which may be amended or supplemented from time to time.
Trademarks means the intellectual property in the trademarks, service marks and logos used and displayed on or through the Platform, Website and/or BIYWSZ Services.
Transaction means selling, buying or conducting any other type of transaction, or agreeing to a sale/purchase and digital terms of use
Last updated: August 31, 2023
These Terms constitute a legally binding agreement between you (" you ", " your ") and BIYWSZ (" BIYWSZ ", " we ", "us" or " our "). These Terms apply to your use of the BIYWSZ Services offered by, through or otherwise provided to you on the Platform. The BIYWSZ Services may be provided by BIYWSZ or by any BIYWSZ Affiliate Partner in accordance with these Terms, any Product Terms or any Additional Terms .
By registering a BIYWSZ account, accessing the BIYWSZ platform and/or using BIYWSZ services, you agree that you have read, understood and accepted these Terms and any additional documents or terms mentioned therein. You acknowledge and agree that you will be bound by and comply with the updated and revised versions of these Terms from time to time.
If you do not fully understand and accept these Terms, please do not register for a BIYWSZ account, or access or use the Platform or any BIYWSZ services.
Risk Warning
The value of digital assets, like any other asset, may fluctuate significantly, and there is a risk of significant financial loss when buying, selling, holding or investing in digital assets. Therefore, please consider whether it is appropriate to trade or hold digital assets based on your own financial situation.
with using the BIYWSZ service, please refer to the Risk Warning (which may be updated from time to time). Please read the Risk Warning carefully, but the Risk Warning does not list all possible risks in detail, nor does it explain the impact of such risks on you personally.
deciding to use Bitfast services, please make sure you fully understand the risks you may encounter.
BIYWSZ is not your broker, intermediary, agent or advisor, and there is no fiduciary relationship or obligation between BIYWSZ and any transaction or other activity you conduct using the BIYWSZ service. BIYWSZ does not provide any type of investment or consulting advice. Any communication or information provided to you by BIYWSZ is not intended to provide any advice and should not be construed as providing any advice.
You should judge whether any investment, investment strategy or related transaction is appropriate based on your personal investment objectives, financial situation and risk tolerance, and bear any related losses or liabilities. BIYWSZ does not recommend that you buy, earn, sell or hold any digital assets. You should conduct due diligence and consult a financial advisor before deciding to buy, sell or hold any digital assets. BIYWSZ is not responsible for your decision to buy, earn, sell or hold digital assets based on the information we provide, including any losses you suffer as a result of such decision.
About the agreement between BIYWSZ and you
1. Introduction
1.1. About BIYWSZ . The BIYWSZ Group is an ecosystem with an online digital asset trading platform as its core, providing users with a trading platform for buying and selling digital assets, an integrated custody solution that allows users to store digital assets, and other digital asset-related services.
1.2. These Terms . When you register for a BIYWSZ account, you are entering into a legally binding agreement with BIYWSZ . These Terms apply to your use of BIYWSZ services and clarify what kind of company BIYWSZ is, how BIYWSZ provides services to you, how these Terms may be changed or terminated, how to resolve problems encountered, and other important information.
You must read these Terms and Conditions and the documents referenced therein carefully. If you do not understand anything, please contact us.
If any local terms apply to your use of the BIYWSZ Services, such local terms shall prevail over these Terms.
1.3. Additional files . Many additional files mentioned in these Terms also apply to your use of the BIYWSZ service. These additional files include:
a. BIYWSZ Privacy Statement , which sets out the terms of our processing of any personal data we collect about you or that you provide to us. By using BIYWSZ services, you understand and agree to such processing and promise that all data you provide is accurate and up-to-date.
b. BIYWSZ's "Risk Warning" contains important information about the potential risks of buying, selling, holding or investing in digital assets.
c. The “Fees Tiered Structure” page on the BIYWSZ official website .
d. Product Terms, which set out the additional terms and conditions applicable to the use of specific BIYWSZ services.
You acknowledge that you are bound by and agree to abide by any relevant additional terms and conditions applicable to the BIYWSZ Services.
2. Eligibility
2.1. Eligibility Criteria . To be eligible to register for a BIYWSZ account and use the BIYWSZ Services, you must:
a. is an individual, company, legal person, entity or other organization with full power, authority and capacity to (1) access and use the BIYWSZ Services; and (2) enter into these Terms and comply with your obligations under these Terms;
b. If you are an individual, you must be at least 18 years old;
c. If you are an employee or agent of a legal entity and are entering into these Terms on its behalf, you must be duly authorized to act on its behalf and to bind the entity to these Terms;
d. not be suspended or disqualified from using the BIYWSZ service;
e. Non-restricted persons;
f. do not currently have a Bitfast account; and
g. The location, place of registration, or place of incorporation is not in the following areas; the person is not a citizen or resident of the following areas; and the person does not conduct business in the following areas:
i. any jurisdiction where accessing or using the BIYWSZ Services would violate applicable law or cause BIYWSZ or any third party to violate any applicable law; or
ii. Countries listed in the Prohibited Countries List.
2.2. Modification of the BitFast eligibility criteria . BitFast may modify the eligibility criteria at any time at its sole discretion. BitFast will try to notify you in advance of any changes. However, we may occasionally need to make changes without notifying you in advance. Such circumstances may include:
a. Changes made in response to legal and/or regulatory changes;
b. the change is in your interests; and/or
c. There is no time to notify you due to other reasonable reasons.
In cases where we are unable to notify you in advance, we will notify you as soon as possible after the changes are completed.
3. How we contact each other
3.1. How you can contact us . For more information about BIYWSZ , please visit the BIYWSZ official website. If you have any questions, feedback or comments, please contact us through the customer service team at BIYWSZ.com . These Terms may specify the contact information for specific notices. The addresses in these notices are not monitored.
3.2. How we contact you . We will contact you using the contact information you provide. This may include contacting you by email, text message or phone. Please make sure you provide correct and up-to-date contact information. If your contact information changes, please notify us immediately. Otherwise, BIYWSZ is not responsible if you do not receive our information, notifications or other important information.
4. BIYWSZ service
4.1. Specific Product Terms . Once you have opened a BIYWSZ account, you may use the BIYWSZ Services in accordance with these Terms and the product terms applicable to each specific service of BIYWSZ .
4.2. Intra-group services. You acknowledge and agree that some BIYWSZ services may be provided by BIYWSZ alliance partners.
5. Chat Service
5.1. Availability of Chat Service . We may make an interactive online chat service (“ Chat Service ”) available to you at any time when you use any BIYWSZ Service . When you use the Chat Service, you may interact with robots, chatbots or other non-humans. To the extent required by applicable law, we will indicate when we use chatbots or other non-humans. By communicating with us through the Chat Service, you authorize us to monitor and store your chat history.
5.2. Important Information . The chat service is provided for convenience and is generally intended to facilitate your understanding of the BIYWSZ Services. The BIYWSZ chat service will make every effort to provide you with accurate and up-to-date information based on your questions or needs. Any content communicated by BIYWSZ in the chat service shall not be considered a legal agreement, representation or warranty reached by BIYWSZ regarding the service, process, decision or response time. Any personal data you share with us when using the chat service is subject to the provisions of the applicable privacy policies and notices set forth in the BIYWSZ Privacy Statement .
5.3. User Chat . In addition, BIYWSZ may provide you with a chat service that allows you to interact directly with other users of the Platform (" User Chat ").
5.4. Prohibited Conduct . You shall not send any abusive, defamatory, fraudulent or obscene information or any information intended to manipulate the market through the Chat Service or any User Chat, nor shall you disseminate false or misleading information or messages that violate applicable laws, which may result in the termination of the Chat Service session and may result in restrictions on your use of the BIYWSZ Services.
6. Handling Fees
6.1. Payment of Fees . You agree to pay all applicable fees associated with the use of the BIYWSZ Services in accordance with the Fee Tier Structure specified on the BIYWSZ website or in any relevant product terms .
You authorize us to deduct all applicable fees, commissions, interest, charges and other amounts owed by you under these Terms or any Product Terms from your BIYWSZ account in accordance with the calculation method specified in the Fee Tier Structure page. If you owe BIYWSZ digital funds (denominated in a certain digital asset) and the amount of such digital asset is insufficient to repay the amount owed, BIYWSZ may deduct the amount owed from other digital assets to pay (in this case, BIYWSZ will convert the digital assets you hold into digital assets (or equivalent fiat currency) denominated in the owed funds at the current price published by the platform or other commercially reasonable prices determined by us). If there are insufficient digital assets in your BIYWSZ account, you acknowledge that any amount due and payable by you under these Terms is a debt due and payable in such amount and form (whether digital assets or other forms) as we can determine through reasonable commercial means.
6.2. Modification of BitFast Fees . BitFast may adjust the Fees from time to time in accordance with Section 18.3 of these Terms.
About your BIYWSZ account
7. Create a Bitfast account
7.1. Opening an Account . You must create and maintain a BIYWSZ account to access the BIYWSZ Services and Platform. An individual may open a BIYWSZ Personal Account, and a company, entity or other organization may open a BIYWSZ Corporate Account.
All BIYWSZ accounts are provided entirely at the discretion of BIYWSZ . BIYWSZ reserves the right to reject any BIYWSZ account application without reason or to limit the number of BIYWSZ accounts you can hold .
7.2. Exclusive Rights . By opening a BIYWSZ account, you agree that:
a. if you are an individual user, you use your BIYWSZ account only for your own use and do not use your BIYWSZ account on behalf of any third party, unless you have obtained BIYWSZ’s prior written consent; and
b. If you are a corporate user, your Licensed Users may use the BIYWSZ Corporate Account only for your benefit and not on behalf of any third party , unless you have obtained BIYWSZ’s prior written consent.
You are fully responsible for all activities that occur on your BIYWSZ account.
7.3. Identity verification . You will need to provide us with relevant information about you and your permitted users (if relevant) and complete our identity verification process before you are allowed to open a BIYWSZ account and access and use the BIYWSZ Services. All information you provide must be complete, accurate and true. You must update such information immediately if it changes at any time.
You authorize BIYWSZ to conduct, directly or through a third party , any investigation BIYWSZ deems necessary to verify the identity of you and any Permitted User, to protect you and/or BIYWSZ from fraud, money laundering, terrorist financing or other financial crime, and to take any action BIYWSZ deems necessary based on the results of such investigation .
You know and understand that BIYWSZ may disclose your and any permitted user's personal data to identity verification, compliance data records, credit investigation, fraud prevention or financial crime agencies when conducting investigations; and you know and understand that these agencies can fully respond to BIYWSZ 's inquiries.
You can view BIYWSZ's Privacy Statement for more information about BIYWSZ's processing of personal data .
7.4. In-depth Due Diligence . BIYWSZ may also require you to submit additional information about yourself, your company or a Licensed User, provide additional records or documentation, or meet face-to-face with a BIYWSZ representative in order to comply with BIYWSZ 's in-depth due diligence procedures.
7.5. Records . BIYWSZ will retain your personal data to enable you to continue using the BIYWSZ Services for as long as necessary to fulfill the relevant purposes described in the Privacy Statement, to achieve relevant laws for tax and accounting purposes, to comply with anti-money laundering laws, or as otherwise communicated to you by other means. Please refer to the BIYWSZ Privacy Statement to understand how BIYWSZ collects and uses users' personal data in connection with the use and performance of the BIYWSZ Website and BIYWSZ Services.
7.6. Subaccounts . BIYWSZ determines at its sole discretion whether you may create and access a BIYWSZ Subaccount. Each natural person who opens a BIYWSZ Subaccount must comply with the identity verification requirements set forth in Section 7 of these Terms. A natural person or legal entity may only open one BIYWSZ Subaccount.
8. Request for Information
8.1. When will BitFast request information from you? BitFast may request information from you at any time to comply with any applicable laws, identity verification requirements, or to detect money laundering, terrorist financing, fraud or any other financial crime or for any other legitimate reason . You agree to provide BitFast with any such information requested by BitFast , provided that such information is necessary to achieve its intended purpose, and to allow BitFast to keep records of such information for the duration of your BitFast account or such other period as may be required by applicable law.
8.2. What happens after you provide information . Your access to your BIYWSZ account and your BIYWSZ service transaction limits will continue to change based on the information collected from you. If there is reason to suspect that any information you provide is wrong, untrue, outdated or incomplete, BIYWSZ may send you a notice asking you to correct or delete the relevant information, or take other measures that BIYWSZ deems necessary to ensure that the information you provide is true and correct.
8.3. If you fail to provide information as requested . You must comply with any request for information we send you. If you refuse to provide information as requested, or fail to provide information in a timely manner, BIYWSZ reserves the right to immediately suspend or terminate your access to your BIYWSZ account or all or part of the BIYWSZ Services without notice .
9. Access your Bitfast account
9.1. Access . To access your BIYWSZ account, you or the Licensed User (where relevant) must have the necessary equipment (such as a computer or smartphone) and be able to access the Internet. Your BIYWSZ account may be accessed directly through the Platform or other access modes specified by BIYWSZ (including APIs) . You may only access your BIYWSZ account using the access ID that BIYWSZ provides to you or the Licensed User for such purposes . BIYWSZ may require multi-factor authentication to ensure the security of your BIYWSZ account.
Use of the Platform and other access methods is subject to additional terms notified to you by Bitfast .
9.2. Restricting access to third parties . You must ensure that any BIYWSZ account registered in your name is not used by anyone other than yourself, or in the case of a BIYWSZ Business Account, by anyone other than your Permitted Users, except as provided for in these Terms.
10. Account Information and Transaction Records
10.1. Your Account History . You can access your account history through the Platform. You must carefully review your account history. If you find any records or transactions that you do not recognize or believe are incorrect, you must report them within 14 days of the date you obtained your account history.
10.2. Errors . BIYWSZ may correct any errors in your account history at any time and reserves the right to void or reverse any transaction that exists or is based on an obvious error, or to amend the details of such transaction to reflect the correct or fair details that would have been in the absence of such obvious error. Without prejudice to the generality of other provisions of these Terms and Conditions and without fraud or malice, BIYWSZ shall not be liable for any direct, indirect, special or consequential loss (including but not limited to loss of profit, loss of opportunity) or claim of any nature suffered or incurred by you as a result of any obvious error arising from any cause, even if you have informed BIYWSZ of the possibility of such occurrence or such circumstances are reasonably foreseeable.
10.3. Information Sharing . BIYWSZ may need to share information about your BIYWSZ account and account history with third parties as required by applicable law . You acknowledge and agree that BIYWSZ has the right to disclose such information. For more information on how BIYWSZ handles your personal data, please refer to the BIYWSZ Privacy Statement .
Using Your Account
11. Instructions
11.1. Issuing Instructions . You must ensure that any instructions you submit are complete and accurate. BIYWSZ is not required to verify the accuracy, authenticity or validity of any instructions and will not monitor or refuse to execute instructions because they are duplicates or appear to be duplicates. However, BIYWSZ may refuse to execute or postpone the execution of any instruction, or seek further information in relation to the instruction, if we have any doubts about the accuracy, authenticity or validity of the instruction.
Instructions are irrevocable. Once submitted, you or the licensed user have no right to revoke or withdraw the instructions without the written consent of BIYWSZ . Your instructions shall not be deemed to have been received by BIYWSZ before they are received by the BIYWSZ server. BIYWSZ's record of all instructions is final and binding on you.
11.2. Act in accordance with your instructions . By submitting instructions, you or a licensed user authorizes BIYWSZ to initiate transactions on your BIYWSZ account. BIYWSZ is therefore entitled to credit or debit (or provide settlement information to a third party so that the third party can credit or debit) digital assets from your BIYWSZ account in accordance with your instructions. If the digital assets or legal tender in your BIYWSZ account are insufficient to complete the transaction (i.e., insufficient to settle the transaction and insufficient to pay all fees associated with the transaction), BIYWSZ has the right to refuse to enter into any transaction. You are responsible for holding sufficient digital assets or legal tender in your BIYWSZ account.
11.3. Instruction Protection . You are aware that instructions and information transmitted through the Platform or email are usually transmitted over the Internet, and the routing path may be public transnational facilities without special protection. BIYWSZ cannot guarantee the protection of transmitted instructions and information from unauthorized access, and you accept the risks associated with this.
11.4. Withdrawal . Subject to these Terms and all applicable product terms, if you have sufficient balance in your BIYWSZ account and do not hold digital assets related to any BIYWSZ service, you may instruct BIYWSZ to transfer digital assets to an external wallet address by submitting a withdrawal request on the Platform. Upon receipt of your withdrawal request, BIYWSZ will: (i) deduct your BIYWSZ account balance; and (ii) initiate an on-chain transfer to the external wallet you specify. BIYWSZ may not process the withdrawal request if BIYWSZ has reason to believe that the execution of the relevant withdrawal will violate applicable law . BIYWSZ may also suspend withdrawals at a time that BIYWSZ deems appropriate to resolve any emergencies on the Platform. Once such incidents are resolved, BIYWSZ will resume withdrawals.
12. Transactions
12.1. Conducting Transactions . You may trade directly with BIYWSZ or other users, and these transactions may or may not be facilitated by BIYWSZ .
BIYWSZ makes no representation or warranty that any transaction will be successfully completed or will be completed within a particular time.
12.2. Unauthorized Transactions . You are solely responsible for controlling or using your BIYWSZ Account. Therefore, BIYWSZ will assume that any instructions issued from your BIYWSZ Account are authorized by you or a Licensed User unless BIYWSZ has been notified otherwise. You should monitor the history for any unauthorized or suspicious activity in your BIYWSZ Account and notify us as soon as possible. BIYWSZ is not responsible for any claims or losses resulting from transactions carried out in execution of unauthorized instructions, unless you have notified BIYWSZ in accordance with this clause.
12.3. Retention of Transaction Information . To promote compliance with global industry standards regarding data retention, you agree to allow (but not require) us to retain records of all transaction information for the life of your BIYWSZ account or other period required by applicable law in accordance with the original intention of retaining the transaction information. Please refer to the BIYWSZ Privacy Statement BIYWSZ.com to understand how BIYWSZ collects and uses data related to the use and performance of the BIYWSZ website and BIYWSZ services.
13. Significant interests and conflicts
13.1. BIYWSZ Group . You are aware that the BIYWSZ Group consists of several companies engaged in digital asset-related businesses, and BIYWSZ is a member of the Group.
13.2. Nature of BIYWSZ 's duties . You understand and agree that neither your relationship with BIYWSZ nor any services provided to you by BIYWSZ , nor any other matter, will give rise to any liability, whether legal, equitable or fiduciary, for BIYWSZ or any BIYWSZ Affiliate, other than those expressly set out in these Terms. In particular, BIYWSZ and any BIYWSZ Affiliate may act in multiple capacities at any time, and BIYWSZ may charge fees or commissions to multiple users (including you) when acting in those capacities. You consent to BIYWSZ acting in such capacities and providing any other BIYWSZ services, or conducting business with or for you, any BIYWSZ Affiliate or any other user.
13.3. Material Interests . You understand and agree that neither BIYWSZ nor any BIYWSZ Affiliate is required to: (1) consider carefully any information that BIYWSZ or any BIYWSZ Affiliate learns of a Material Interest; (2) disclose any such information to you; or (3) use such information for your benefit. You further acknowledge that BIYWSZ may receive general market information from time to time in the course of providing the BIYWSZ Services to you and use it in the ordinary course of BIYWSZ's business.
13.4. Conflicts of Interest . BIYWSZ establishes and maintains effective organizational and administrative arrangements designed to take all appropriate measures to identify and manage conflicts of interest between BIYWSZ and BIYWSZ users and relevant third parties, and to prevent conflicts of interest from adversely affecting the interests of BIYWSZ users. If such organizational and administrative arrangements are not sufficient to prevent risks of harm to your interests, BIYWSZ will inform you of the nature and/or source of the relevant conflict of interest and the measures that have been taken to reduce such risks, so that you can make an informed decision whether to continue to trade with us. BIYWSZ always reserves the right to refuse to act in your interests when it is unable to manage conflicts of interest in any other way.
14. Trading Restrictions
14.1. Your trading restrictions . Your BIYWSZ account may be subject to restrictions in the following areas:
a. the amount or number of transactions that can be carried out on your BIYWSZ account; and/or
b. The amount or value of fiat currency or digital assets you can transfer into or out of your BIYWSZ account,
Each of the above situations is limited to a given period (e.g. per day). All applicable limits will be displayed in your BIYWSZ account.
14.2. Changes to your trading limits . BIYWSZ reserves the right to change any trading limits applicable to your BIYWSZ account at any time at BIYWSZ's absolute discretion . You may also request a change to your limits. Any changes will be made at BIYWSZ's sole discretion and will be subject to any further conditions that BIYWSZ deems necessary.
15. Supported digital assets
15.1. Supported digital assets . The BIYWSZ service is only available for supported digital assets, which may change from time to time. BIYWSZ has published a list of supported digital assets on its official website. BIYWSZ may remove or suspend one or more digital assets from the list of supported digital assets and will use reasonable commercial efforts to notify you in advance, which means that you will no longer be able to access such digital assets as part of the BIYWSZ service and can only withdraw them from your BIYWSZ account. If you do not withdraw such no longer supported digital assets within the specified period, BIYWSZ may, at its discretion, exchange them for another type of digital asset, namely stablecoins. BIYWSZ should notify you before making such an exchange, and you can withdraw such digital assets within a reasonable period specified by BIYWSZ and then exchange them for stablecoins.
BIYWSZ is not responsible for the use of your BIYWSZ Account to purchase Digital Assets that we do not support, or for the exchange of such Digital Assets for other types of Digital Assets .
15.2. Forks . When we decide whether to support a fork, we may temporarily suspend any BIYWSZ services related to a particular digital asset . We are not obligated to support forks of digital assets held in your BIYWSZ account, regardless of whether such digital assets will become the dominant digital asset after the fork. If we choose to support a fork of a digital asset, we will make an announcement through the BIYWSZ official website or other means we deem appropriate.
You acknowledge that we have no control and no ability to influence the creation or implementation of forks. BIYWSZ cannot provide any guarantees regarding the security, functionality or supply of any digital asset, including new dominant digital assets or other digital assets subject to the relevant fork. You may not be able to trade forked digital assets through the platform and may lose any value associated with the relevant digital asset.
15.3. Secured Digital Assets . From time to time, BIYWSZ may support digital assets that claim to be secured by other assets or otherwise tied or pegged to other assets, including digital assets, fiat currencies, or commodities such as gold and silver ("Secured Digital Assets"). You agree that you will only engage in any transaction related to it after reading, understanding, and accepting all terms and conditions and risks associated with each specific Secured Digital Asset. BIYWSZ has no obligation to purchase, repurchase, or redeem or facilitate the redemption of your Secured Digital Assets. BIYWSZ reserves the right to change, suspend, or terminate any service related to any Secured Digital Asset. BIYWSZ makes no representation as to whether any particular Secured Digital Asset will maintain its value against any asset, and the quantity or quality of any Secured Digital Asset reserves or collateral held by the respective issuers or any third party .
16. Account Security
16.1. Your Responsibilities . You are solely responsible for taking appropriate measures to protect your hardware and data from viruses and malware and any inappropriate materials. Unless otherwise required by applicable law, you are solely responsible for backing up and maintaining copies of any information you store or transmit through the BIYWSZ service. BIYWSZ is not responsible for any claims or losses you suffer as a result of your failure to comply with the provisions of these Terms.
16.2. Security Measures . You and any Licensed User shall ensure that all of your Access IDs are adequately secured at all times. You are responsible for taking the necessary security measures (or ensuring that your Licensed User takes such measures) to protect your BIYWSZ account and keep your Access IDs secure, including:
a. Strictly comply with all mechanisms or processes of Bitfast ;
b. Create a strong password to ensure your access ID is safe and under control;
c. ensure that the email address and telephone number provided to BIYWSZ are up to date in order to receive any notices or warnings that BIYWSZ may send to you;
d. Do not allow anyone else to remotely access or share your computer and/or computer screen with anyone else while logged into your BIYWSZ account;
e. Please remember that BIYWSZ will never ask you to share your password or two-factor authentication code under any circumstances; and
f. Please exit from the Website or Platform at the end of each session.
You must keep your email account and access ID secure and protect them from any attacks and unauthorized access. If you learn or have reason to suspect that the security of your email or a Permitted User's email has been compromised or that your or any Permitted User's email has been used illegally, you must notify us immediately.
16.3. Monitor Account History . You should monitor your history to detect any unauthorized or suspicious activity in your BIYWSZ account and notify us as soon as possible. You are aware that any security breach may result in unauthorized access to your BIYWSZ account by a third party and the loss or theft of any digital assets and/or funds in your BIYWSZ account and any associated accounts (including your associated bank accounts and credit cards).
16.4. If you suspect a security breach , you must ensure that:
a. immediately notify us using the contact details set out in clause 3.1 and continue to provide us with accurate and updated information throughout the duration of the Security Breach;
lock your BIYWSZ Account by using the Platform’s disable account feature or any other method prescribed by BIYWSZ from time to time ; and
c. take any other steps that BIYWSZ may reasonably request to mitigate, manage or report any security breach.
BIYWSZ reserves the right to request from you any and all information and documentation that BIYWSZ deems relevant or necessary to an actual or suspected security breach, and you agree to provide such information and documentation, and BIYWSZ has the right to provide such information to any third party in order to resolve any security breach.
Other important information
17. Privacy
17.1. Privacy Statement . The collection and use of personal data in connection with these Terms, the BIYWSZ Services, the Platform and any Website is detailed in the Privacy Statement (as updated from time to time). You acknowledge that BIYWSZ will process personal data relating to you, personal data you provide to BIYWSZ or personal data collected from you by BIYWSZ in connection with these Terms in accordance with the Privacy Statement. Your personal data will be processed in accordance with the Privacy Statement, which forms part of these Terms.
You represent and warrant that:
a. You acknowledge that you have read and understood the Privacy Statement .
b. BIYWSZ's business changes frequently, and the Privacy Statement will also change accordingly. Therefore, you should read the alternative version of the Privacy Statement immediately after BIYWSZ provides you with it from time to time HYPERLINK "https://www.binance.com/en/privacy" \t "https://www.binance.com/zh-CN/_blank" .
18. Changes to Terms, etc.
18.1. How and when BIYWSZ makes changes. BIYWSZ may change these Terms and any terms and conditions incorporated by reference (including any Product Terms) at any time, and your acceptance of these Terms constitutes your express consent to such changes. BIYWSZ will notify you of any changes by email or on the BIYWSZ website.
We will notify you of most changes in advance and let you know before the change takes effect. However, we may occasionally need to make changes without notifying you in advance. This may include:
a. Changes made in response to legal and/or regulatory changes;
b. the change is in your interest;
c. the changes are intended to make these Terms clearer to you; and/or
d. There is no time to notify you due to other reasonable reasons.
In cases where we are unable to notify you in advance, we will notify you as soon as possible after the changes are completed.
18.2. When will the changes take effect? Unless the changes take effect immediately, the updated terms will take effect after we notify you. If you do not accept the changes, you may close your BIYWSZ account in accordance with Section 19.1 of these Terms. If we do not receive your comments, we will consider that you have accepted the changes, and your continued access or use of the BIYWSZ service will be deemed as your acceptance of the updated terms.
18.3. Fee Changes . BIYWSZ may also make changes to the fees stated on the Fee Tier Structure page of the official website, including adding new fees and/or charges. If you do not accept such changes, you may close your BIYWSZ account in accordance with Section 19.1 of these Terms . If we do not receive your comments, we will deem you to have accepted the changes, and your continued access or use of the BIYWSZ Services will be deemed as your acceptance of the updated Terms.
19. Close your Bitfast account
19.1. You have the right to close your BIYWSZ account . You may terminate your BIYWSZ account at any time by following the account termination procedures specified by BIYWSZ from time to time . There is no fee for closing your BIYWSZ account, but you must pay all amounts owed to BIYWSZ . You authorize BIYWSZ to cancel or suspend any pending transactions when you close your account and to deduct any amounts owed to BIYWSZ from your BIYWSZ account .
There are some circumstances where you may not be able to close your Bitfast account, including:
a. attempt to evade investigation by relevant authorities;
b. There are pending transactions or outstanding claims;
c. The BIYWSZ account has outstanding payments to BIYWSZ ; or
d. your BIYWSZ account is frozen, detained, restricted or reserved.
19.2. What happens if you close your BIYWSZ account ? If you close your BIYWSZ account, you must withdraw all digital assets in your BIYWSZ account. If you do not withdraw your digital assets or do not access your BIYWSZ account for 90 consecutive days, BIYWSZ will send you a notice that your account will be considered dormant.
19.3. What happens if your account becomes dormant. If you do not respond to a notice under clause 19.2 within 30 days, BIYWSZ may:
a. Mark your BIYWSZ account as dormant;
b. exchange the digital asset for other digital assets. BIYWSZ shall not be liable for any loss of profit, tax liability or any other loss, damage or expense you suffer as a result of such changes;
c. transfer such dormant accounts and/or any digital assets held in such accounts to any third party (including but not limited to other BIYWSZ alliance partners, any third-party custodians or independent wallets) if BIYWSZ deems it reasonably necessary . After such transfer, you have the right to recover the digital assets, but only if BIYWSZ (or the relevant third party)'s reasonable authentication requirements and any other terms and conditions of use are met;
d. adjust your dormant account so that you will receive a contractual claim for the amount and type of digital assets that were held in your BIYWSZ account prior to being redeemed to your dormant account ;
e. Charge dormant account fees, which may be used to pay the costs of maintaining digital assets for any Bitfast affiliate or any third party, and will be deducted directly from the dormant account on a monthly basis; and
f. Close dormant accounts at any time.
Once a dormant account is closed, it cannot be reactivated. If you wish to continue to use the BIYWSZ service, you must register a new BIYWSZ account in accordance with these Terms. You acknowledge that BIYWSZ has no obligation to pay any remuneration, reward or interest related to the credited assets in your dormant account that was originally agreed to be paid in accordance with the applicable Product Terms.
20. Termination, Suspension, Suspension and Restriction
20.1. BIYWSZ 's Rights . BIYWSZ may modify or discontinue, temporarily or permanently, any part or feature of the BIYWSZ Services at any time. In particular, BIYWSZ may: (1) refuse to complete or block, cancel or, where permitted by applicable law, refuse to revoke any transaction authorized by you; (2) terminate, suspend or restrict your access to any or all of BIYWSZ's Services; (3) terminate, suspend, close, suspend or restrict your access to any or all of BIYWSZ's Accounts; (4) refuse to transmit information or instructions to third parties (including, but not limited to, third-party wallet operators); and/or (5) take any action that BIYWSZ deems necessary. In each case, this is effective immediately and may be for any reason, including, but not limited to:
a. you are not eligible or no longer eligible to use one or more of the BitFast Services;
b. BIYWSZ has reason to suspect that:
i. You are not the person logging into your BIYWSZ account, or BIYWSZ suspects that your BIYWSZ account has been or will be used for any illegal, fraudulent or unauthorized purpose;
ii. You are not a permitted user when logging into your BIYWSZ account, or BIYWSZ suspects that your BIYWSZ business account has been or will be used for any illegal, fraudulent or unauthorized purpose;
iii. Multiple natural persons access and/or use the same BIYWSZ account to conduct transactions, or BIYWSZ suspects that a BIYWSZ account has been or will be used for any illegal, fraudulent or unauthorized purpose;
iv. The information you provide is wrong, untrue, outdated or incomplete;
c. BIYWSZ has reasonable concerns about your creditworthiness or financial situation, including:
i. If you are an individual user, you are bankrupt, insane, have filed for bankruptcy, or proceedings have been commenced to prosecute you for bankruptcy;
ii. If you are a partnership, any of your partners dies or becomes bankrupt or insane, files for bankruptcy, has commenced proceedings against any partner for bankruptcy, or has instituted proceedings to dissolve and/or vary the partners or the partnership’s articles of association;
iii. if you are a company and the company is unable to pay its debts as they fall due or proceedings have been commenced for insolvency, judicial management, receivership, administration or any similar or analogous proceedings;
iv. you convene a meeting of creditors or propose or enter into any compromise or arrangement with creditors or make any assignment for the benefit of creditors;
d. has not submitted the information and documents required under Article 8;
e. has not submitted to enhanced due diligence as required under clause 7.4;
f. BIYWSZ reasonably believes that we are required to do so by applicable law or by any court or authority in any jurisdiction in which BIYWSZ is located;
g. BitFast has determined or suspected that:
i. You have violated these Terms or any Product Terms;
ii. your breach of any express or implied warranty or any representation made by you in these Terms;
iii. any transaction is unauthorized, erroneous, fraudulent or illegal, or BIYWSZ has determined or suspected that you are using your BIYWSZ account or BIYWSZ services in a fraudulent, unauthorized or illegal manner ;
iv. your BIYWSZ account or your use of BIYWSZ services involves money laundering, terrorist financing, fraud or any other criminal activity;
h. the use of your BIYWSZ Account is subject to any pending, ongoing or threatened litigation, investigation or judicial, governmental or regulatory process and/or BIYWSZ believes that there is a high risk of legal or regulatory violations associated with your BIYWSZ Account activity;
i. any outstanding amounts owed by you to BIYWSZ , whether due to a chargeback or for any other reason;
j. any email sent to your email address is returned as undeliverable;
k. There was a problem verifying your identity;
l. you take any action to circumvent our controls, such as opening multiple BIYWSZ accounts without BIYWSZ 's written consent or abusing any promotions offered by BIYWSZ from time to time; or
m. We have other good reasons for doing so.
BIYWSZ will take reasonable steps to provide you with appropriate notice. However, sometimes we are unable to provide appropriate notice due to applicable legal requirements.
20.2. Acknowledgements by You . You acknowledge and agree that:
BIYWSZ may take to terminate, suspend, close or restrict your access to your BIYWSZ account and/or BIYWSZ services set out in clause 20.1 above are not exhaustive; and
b. BIYWSZ's decision to take certain actions, including but not limited to terminating, suspending or limiting your access to your BIYWSZ account or BIYWSZ services, may be based on confidentiality standards that are essential to BIYWSZ's risk management and security protocols. You agree that BIYWSZ has no obligation to disclose details of BIYWSZ's risk management and security procedures to you .
20.3. What happens if BIYWSZ exercises its rights . If BIYWSZ terminates, suspends, suspends or restricts your access to one or more BIYWSZ services:
a. If you have orders, transactions, positions or open transactions, they may be closed by you or by us, depending on whether we take termination, suspension, hold, restriction or other action;
b. any refund for use of your BIYWSZ account or BIYWSZ services may result in the immediate suspension and/or restriction of your BIYWSZ account and BIYWSZ services;
c. to re-activate a suspended and/or restricted BIYWSZ account or BIYWSZ service, you will need to refund us a full refund including any amounts owed to us (including any applicable fees); and
d. In the event of a refund, you are responsible for any deposit amounts and you authorize us to deduct costs and fees directly from any assets in your BIYWSZ account without further notice.
20.4. Illegal Possession . If BIYWSZ is informed and has reason to believe that any digital assets or fiat currency held in your BIYWSZ account have been stolen or are not lawfully owned by you (whether due to mistake or otherwise), BIYWSZ may (but is not obliged to) freeze the affected funds and your BIYWSZ account. If BIYWSZ withholds some or all of the digital assets or fiat currency in your BIYWSZ account or your entire BIYWSZ account until we have acceptable evidence that you are entitled to the digital assets and/or fiat currency in your BIYWSZ account. BIYWSZ will not intervene in disputes or the resolution of disputes related to any digital assets and/or fiat currency in your BIYWSZ account.
BIYWSZ Services in Other Jurisdictions . Residents of certain countries may only have access to some, but not all, of BIYWSZ Services. BIYWSZ may change the BIYWSZ Services available to you from time to time. If you travel to a country listed in BIYWSZ 's Prohibited Countries List , you will not be able to use BIYWSZ Services or will be blocked by BIYWSZ Services. You understand that this will affect your ability to trade on the Platform, and/or monitor any existing orders or open positions, or otherwise use BIYWSZ Services. You may not attempt to circumvent any such restrictions in any way, including by modifying your Internet Protocol address through the use of any virtual private network.
intellectual property
21. Background Intellectual Property
BIYWSZ intellectual property rights are always owned by BIYWSZ .
22. License of BitFast Intellectual Property
BIYWSZ grants you a non-exclusive license to use the BIYWSZ intellectual property (excluding the Trademarks) in accordance with these Terms, solely to the extent necessary for your use of the BIYWSZ Services for your non-commercial personal or internal business use, during the continuation of these Terms or until we suspend or terminate your access to the BIYWSZ Services (whichever is earlier).
23. License to User Intellectual Property
23.1 You grant a license. You grant BIYWSZ a perpetual, irrevocable, royalty-free, worldwide and non-exclusive license to use the User Intellectual Property, limited to the Intellectual Property:
a. is part of or necessary for the use of any created intellectual property; and
b. is necessary for BIYWSZ to provide you with the BIYWSZ services from time to time.
23.2 BIYWSZ 's right to sublicense . The license you grant under these Terms includes the right of BIYWSZ and any BIYWSZ Alliance Partner to sublicense to third parties for the purpose of providing the BIYWSZ Services or any part thereof to you.
24. Created Intellectual Property
24.1 Created Intellectual Property. Created Intellectual Property shall automatically belong to BIYWSZ from the date of its creation .
24.2 Assignment . You hereby assign ( and agree to cause any agent, representative or contractor to assign) to BIYWSZ all present and future right and interest in and to the Intellectual Property Rights that you create and provide full title security.
If you are required to do so, you shall (and agree to cause any agent, representative or contractor to) sign and/or execute all documents and take all actions that BIYWSZ may request to complete the assignment under these Terms, without charge to you.
25. General
25.1 BIYWSZ is not responsible . You agree and acknowledge that: (1) BIYWSZ is not responsible for any User Materials (whether provided by you or by a third party) that may be made available on the Platform or Website; and (2) your use of any such User Materials is at your own risk and BIYWSZ does not provide any warranty in relation thereto.
25.2 BIYWSZ 's rights . BIYWSZ reserves the right, in its sole discretion, to remove, modify or refuse any content (including any User Materials) you submit, post or display on the Platform or Website for any reason. BIYWSZ reserves the right to take any action we deem appropriate at our sole discretion, including issuing you a written warning, removing any User Materials, seeking damages or other monetary compensation from you, suspending or terminating your BIYWSZ account (if any), or suspending your access to the Platform and/or Website. BIYWSZ also reserves the right to restrict or prohibit your future use of any and all BIYWSZ services.
25.3 Recording. You agree that BIYWSZ may record any communications we have with you in connection with these Terms, whether by electronic communication, telephone communication, video call or otherwise, and that any records retained by BIYWSZ will constitute evidence of the communications between you and us. You agree that BIYWSZ may record telephone conversations and video calls in order for us to respond to inquiries, ensure compliance with applicable laws, improve BIYWSZ services and provide support to our customers.
Your obligations and responsibilities
26. Prohibited Use
Without prejudice to any other restrictions or limitations in these Terms, you agree that by opening a BIYWSZ Account, you and any Permitted User will not:
a. breach of these Terms or any agreement entered into pursuant to or in connection with these Terms (including but not limited to any Product Terms);
BIYWSZ service in a manner that violates the public interest, public morals or the legitimate interests of others , including any behavior that interferes with, damages, negatively affects or prevents other users from using the BIYWSZ service;
c. use the BIYWSZ Services for resale or commercial purposes, including trading on behalf of another person or entity, unless BIYWSZ has expressly agreed in writing;
d. Use the BIYWSZ Services to conduct any conduct that BIYWSZ deems to be intended to control or artificially influence the price of any digital asset (market manipulation), whether or not prohibited by applicable law, including but not limited to pump and dump scams, wash trading, self-trading, front-running, order stuffing, and spoofing or layering;
e. engage in fraudulent activities or cause BIYWSZ to suspect that you or any Permitted User has engaged in fraudulent activities and/or transactions;
f. Use the BIYWSZ service to conduct sweepstakes, bidding auctions, sports predictions or odds calculations, fantasy sports leagues offering cash prizes, online games, contests, winner-take-alls, or games of chance;
BIYWSZ and another user for the same transaction during the Claim Period ; (2) conduct business or use the BIYWSZ Services in a manner that causes or may cause complaints, disputes, claims, reversals, chargebacks, fees, fines, penalties or other liabilities to BIYWSZ , other users, third parties or yourself ; (3) allow your BIYWSZ account to have a negative value or amount of digital assets;
h. provide false, inaccurate or misleading information to BIYWSZ in any communication with BIYWSZ regarding the use of the BIYWSZ Services or otherwise in connection with these Terms ;
i. (1) use any deep link, crawler, robot, spider or other automatic device, program, script, algorithm or methodology, or any similar or equivalent manual process, to access, acquire, copy or monitor any part of the Platform or in any way reproduce or circumvent the navigational structure or presentation of the BIYWSZ Services to obtain or attempt to obtain any materials, files or information through any means other than those intentionally made available through the BIYWSZ Services; (2) attempt to gain unauthorized access to any part or feature of the Platform or any other systems or networks connected to the BIYWSZ Services or any BIYWSZ server or to any BIYWSZ Services offered through the Platform, by hacking, password mining or any other illegitimate or prohibited means ; (3) probe, scan or test the vulnerability of the BIYWSZ Services or any network connected to the Platform, or breach any security or authentication measures on the BIYWSZ Services or any network connected to the BIYWSZ Services; (4) reverse look-up, trace or attempt to trace any information on any other user of or visitor to the BIYWSZ Services; (5) Take any action that imposes an unreasonable or disproportionately large load on the BIYWSZ Services or BIYWSZ 's systems or network infrastructure, or any systems or networks connected to the BIYWSZ Services; (6) use any device, software or routine to interfere with the proper functioning of the BIYWSZ Services, any transactions on the BIYWSZ Services, or any other person's use of the BIYWSZ Services; or (7) forge headers, impersonate or otherwise manipulate identities to disguise your identity or the origin of any message or transmittal you send to us;
j. modify or adapt the Platform or any part of it, or merge or incorporate the Platform into another program or application;
k. disassemble, decompile, reverse engineer or otherwise attempt to derive the source code, object code underlying concepts, ideas and algorithms of the Platform or its components;
l. modify, reproduce, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, delete or alter any copyright notices or labels, or licence, sub-licence, sell, mirror, frame, rent, lease, private label, grant a security interest in, create derivative works or otherwise exploit any part of the BIYWSZ Intellectual Property or any part of the Intellectual Property;
facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information related to the BitFast service;
use any temporary, disposable, self-destructing or similar email address when opening a BIYWSZ account and/or using BIYWSZ services; (3) use any device, software or routine to bypass BIYWSZ 's automatic exclusion headers or interfere or attempt to interfere with the BIYWSZ website or BIYWSZ services; and (4) take any action that could cause BIYWSZ to lose any service from its Internet service provider or other provider;
o. create or purport to create any security over any fiat currency or digital asset held in any of your BitFast accounts without BitFast’s prior written consent ;
p. violate or attempt to violate (1) any applicable law; or (2) BIYWSZ's or any third party's copyright, patent, trademark, trade secret or other intellectual property right, or right of publicity or privacy; and/or
q. (1) directly or indirectly accessing, using or attempting to access or use the BIYWSZ Services from jurisdictions deemed by BIYWSZ to be high risk , including but not limited to Cuba, Iran, North Korea, or Syria; or (2) directly or indirectly accessing, using or attempting to access or use the BIYWSZ Services with persons deemed by BIYWSZ to be high risk , including but not limited to persons or entities named as restricted individuals or groups on any list maintained by the United States, the United Kingdom, the European Union, or the United Nations (including the sanctions lists maintained by the United States Office of Foreign Assets Control, or the Denied Persons List or Entity List maintained by the United States Department of Commerce).
27. Representations and Warranties
You hereby represent and warrant to BIYWSZ to ensure at all times that:
a. All documents and information you provide to BIYWSZ are true, accurate, complete and up-to-date in all respects, and BIYWSZ may use them as a basis for determining whether you are eligible to access the Platform or use the BIYWSZ Services;
b. All decisions related to these Terms are based solely on your own judgment, which is made after independent assessment of your financial resources, ability and willingness to assume relevant risks and achieve your financial goals;
c. you have full power, authority and capacity to (1) access and use the Platform and/or the BIYWSZ Services; and (2) enter into, deliver and perform your obligations under these Terms and any agreements entered into under or in connection with these Terms, including but not limited to any Product Terms;
d. If you are a partner in a corporation, partnership, or trustee of a trust:
i. the company, partnership or trust has been and will continue to be operated in a manner consistent with applicable law and any partnership or trust deed (or other similar document);
ii. you will immediately notify us of any change in the person of any director, partner, trustee, custodian, ultimate beneficiary or any person authorised to operate your BIYWSZ account due to resignation, removal, appointment or death; and
iii. you will promptly notify us if the company, partnership or trust is dissolved voluntarily or involuntarily;
e. have unconditionally obtained in writing and disclosed in writing to BIYWSZ all third party consents, licenses, authorizations, approvals and agreements required for you to (1) access and use the Platform and/or BIYWSZ Services; and (2) enter into, deliver and perform the transactions contemplated under these Terms and any agreement entered into pursuant to or in connection with these Terms, and all authorizations, approvals, licenses, consents, registrations, declarations, filings and unrevoked or amended by any regulator, government department, commission, agency or other organization with jurisdiction over you;
f. These Terms and any agreement entered into under or as a result of these Terms constitute valid and legally binding obligations and are enforceable against you in accordance with their respective terms;
g. You are not a Restricted Person;
h. If you are a legal entity, you are duly registered, established and validly existing in the jurisdiction in which you are located and have full authority to transact business. If you are an individual, you are at least 18 years of age; and
i. Your access to and use of the Platform and/or BIYWSZ Services, execution, transactions and performance of obligations under these Terms and any agreement entered into pursuant to or as a result of these Terms will not:
i. results in a violation or inconsistency of any provision of your constitution, articles of incorporation, partnership agreement, trust deed or equivalent organizational document (if you are a legal entity, a partner in a partnership or a trustee of a trust);
ii. causes or constitutes a breach of any instrument, agreement, document or undertaking to which you are a party or to which you or any of your property is bound or restricted; and
iii. cause you or us or any third party to violate any applicable law, statute or order of any court, or any award of any arbitrator, or any governmental or regulatory authority in any jurisdiction.
28. Technical Disclaimer
28.1. No Representations or Warranties . The BIYWSZ services and any information provided on the Website and Platform , including the chat service, are provided on an "as is" and "as available" basis, without any representations or warranties of any kind, whether express or implied, to the maximum extent permitted by applicable law. Specifically, BIYWSZ disclaims any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement. BIYWSZ does not represent or warrant that access to the Website, the Platform, any of your BIYWSZ accounts, the BIYWSZ services or any materials contained therein will be continuous, uninterrupted, timely or error-free. This may result in periods of inability to trade on the Platform and may also result in delays.
28.2. Suspension of Access . BIYWSZ may suspend access to BIYWSZ accounts and/or BIYWSZ Services from time to time to carry out scheduled and emergency maintenance. BIYWSZ will use reasonable efforts to ensure that transactions on the Platform are processed promptly, but makes no representations or warranties as to the time required to complete processing, which time depends on many factors beyond our control.
28.3. Content . Although we make reasonable efforts to update the information on the Website and Platform, we make no representations, warranties or guarantees, whether express or implied, that the content, including information relating to the BIYWSZ Services, is accurate, complete or up-to-date.
28.4. Third Party Websites . Links to third party websites (including, but not limited to, the content, materials and/or information on third party websites) are provided for convenience, but they are not under our control. You acknowledge and agree that BIYWSZ is not responsible for any aspect of the content, materials, information or services contained on any third party website that may be accessed or linked from the Platform or Website.
28.5. Network Access and Compatibility : You are solely responsible for obtaining data network access necessary to use the BIYWSZ Services. You are solely responsible for obtaining and updating compatible hardware or devices necessary to access and use the BIYWSZ Services, the Website, and any updates thereto. BIYWSZ does not guarantee that the BIYWSZ Services, or any part thereof, will operate on any particular hardware or device. The BIYWSZ Services may be subject to failures and delays inherent in the Internet and electronic communications.
29. Indemnification
29.1. Third Party Claims . You shall indemnify and hold harmless BIYWSZ from and against any claim, suit, action, demand, dispute, allegation or investigation brought by any third party, governmental agency or industry body and from and against all claims, liabilities, damages (actual and indirect), losses (including any direct, indirect or consequential losses, loss of profits, loss of reputation), costs and expenses, including without limitation all interest, penalties, legal and other reasonable attorneys’ fees and other professional costs and expenses (“ Losses ”) arising out of or in any way connected with:
a. you access or use your BIYWSZ account and/or BIYWSZ services;
b. your breach or alleged breach of these Terms, or your breach of any other clause or sub-clause of these Terms, including any Product Terms and any other terms and conditions incorporated by reference;
c. your violation of any applicable laws; and
d. Your violation of any third party’s rights.
29.2. Control . BIYWSZ reserves the right to control the defense of any third-party claim that is subject to indemnification by you, and in such event you will cooperate fully with us in asserting any defense. You will not settle any claim or loss without BIYWSZ ’s prior written consent.
29.3. Release . You hereby agree to release BIYWSZ from any and all claims and demands (and waive any rights you may have against BIYWSZ for any losses you may suffer or incur) arising directly or indirectly from any dispute between you and any other user or other third party arising out of or in connection with the BIYWSZ Services (including any Digital Asset Transaction) or the subject matter of these Terms.
30. Liability
30.1 BIYWSZ 's liability. BIYWSZ and BIYWSZ's affiliates' liability to you or any third party in any event shall be limited to the actual amount of loss or damage directly caused by BIYWSZ's breach of these Terms and reasonably foreseeable, and in no event shall exceed the fees paid by you to BIYWSZ in the 12 months prior to the event giving rise to the loss . This amount will be paid in full by BIYWSZ to you as a final settlement amount and fully reimburses BIYWSZ and any BIYWSZ affiliate for any and all losses and claims arising from breach of contract for any reason. You acknowledge and agree that BIYWSZ or any BIYWSZ affiliate is not aware of any special circumstances of yours, that damages are a sufficient remedy, and that you are not entitled to any other claims or relief at law or in equity, including but not limited to any claims in property, injunctions and/or specific performance.
30.2 Limitation of Liability . Notwithstanding any other provision of these Terms, in no event will BIYWSZ or any BIYWSZ Affiliate be liable to you or any other person or entity for:
a. any direct or indirect loss (including loss of profit, business or opportunity), damages or costs arising out of or in connection with these Terms, including but not limited to:
i. any risks identified in the Risk Warning (as updated from time to time);
ii. the operation, functionality, security or availability of any underlying digital asset protocol;
iii. Whether the secured digital assets are value-preserving, or whether each issuer of the secured digital assets holds sufficient reserves for any secured digital assets;
iv. any act or omission under these Terms;
v. any inaccuracies, defects or omissions in the digital asset price data, any errors or delays in the transmission of such data, and any interruptions in such data;
vi. scheduled or irregular maintenance conducted by BIYWSZ , including any service interruptions and changes caused by such maintenance;
vii. The device that supports access to and use of the BIYWSZ service is stolen;
viii. any damages caused by the actions, omissions or violations of these Terms by other users and any other third-party actions;
ix. (1) any damage or disruption caused by a computer virus, spyware or other malware that may affect your computer or other device, or any phishing, spoofing or other attack; (2) the failure, damage or destruction of your hardware, or the damage or loss of any records or data stored on your hardware for any reason; or (3) your use of the Internet to connect to the BitFast service, or any technical problems, system failures, malfunctions, communication line failures, high Internet traffic or demand, related problems, security breaches or any similar technical problems or defects you encounter;
x. BIYWSZ decides to reject your application to open a BIYWSZ account pursuant to clause 7.1 ;
xi. any termination, suspension, suspension or restriction of any BIYWSZ Account or BIYWSZ Services, including your inability to withdraw Digital Assets, place Instructions or conduct Transactions under these Terms or any Product Terms during any suspension, suspension or restriction;
any trading restrictions imposed on your BIYWSZ account pursuant to clause 14.1 ;
xiii. any choice made by BIYWSZ to support or not support Digital Assets in accordance with Clause 15.1;
xiv. BIYWSZ is unable to contact you via the contact information you provided under clause 3.2;
xv. BIYWSZ closes dormant accounts in accordance with clause 19.3;
xvi. failure to complete a Transaction or meet any of its completion deadlines pursuant to clause 12.1;
xvii. market making activities carried out by the Market Maker pursuant to Clause 13.2;
xviii. any instructions sent by BIYWSZ in accordance with your BIYWSZ account or email address;
xix. BIYWSZ ’s refusal to execute any instruction or any delay in executing any instruction pursuant to clause 11.1;
xx. any security breach or vulnerability of your email address;
xxi. only covers losses caused to you by fraud or deception by a third party who uses BIYWSZ as the recipient of your fiat currency or digital assets, or converts your fiat currency into digital assets at your request, or transfers your digital assets out of the BIYWSZ platform;
xxii. any losses arising from or related to the issuance of new digital assets, initial coin offerings (ICOs), or the decision to list or not list digital assets on the Platform;
xxiii. the correctness, quality, accuracy, security, completeness, reliability, performance, timeliness, price or continued availability of the BIYWSZ Services, or any delay or omission in the use of the BIYWSZ Services, or any failure of any connection or communications service to provide or maintain your access to the BIYWSZ Services, or any interruption or disruption of your access, or any communications errors between us for any reason, and
any transaction, instruction or action you carry out or purport to carry out through your email or BIYWSZ account;
b. any loss of business, profits, anticipated savings or opportunity, or any special, punitive, aggravated, incidental, indirect or consequential loss or damage, whether arising out of or in connection with the BIYWSZ website, the platform, your BIYWSZ account, the BIYWSZ services, these terms, the product terms, the privacy statement and/or any agreement entered into under these terms or otherwise; and/or
c. any losses that form part of a claim that has not been settled by formal legal action commenced within one calendar year after the event giving rise to the claim. You agree and acknowledge that this clause will modify any limitation period required by law and, if applicable law prohibits this, this clause will be construed as a limitation period of the shortest enforceable period. Without prejudice to the generality of the foregoing, please note Section 32: Claims may only be resolved by binding arbitration.
30.3 Damage or disruption . BIYWSZ is not responsible for any damage or disruption caused by computer viruses, spyware, malware, Trojan horses, worms or other malicious software that may affect your computer or other devices, or for any phishing, spoofing or other attacks. BIYWSZ recommends that you regularly check for viruses using reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are susceptible to spoofing and phishing attacks and you should be cautious when viewing messages purporting to be from BIYWSZ . You and, where relevant, Permitted Users are solely responsible for the security of all login credentials (including usernames and passwords) and should keep details related to account security secure at all times.
Dispute Resolution: Waiver of Court, Arbitration, and Class Actions
For the avoidance of doubt, nothing in this section will deprive you of any legal rights you may have under applicable law.
31. Claim Notification and Dispute Resolution Period
31.1. If you have any concerns about the Service, please contact BIYWSZ first for resolution. If possible, BIYWSZ hopes to resolve your concern without resorting to formal legal proceedings. If the initial resolution of the concern is not satisfactory to you, then BIYWSZ will issue you a ticket. The issuance of the ticket will automatically initiate the internal dispute resolution process. BIYWSZ will attempt to resolve the dispute internally as quickly as possible. The parties agree to negotiate in good faith to resolve the dispute (discussions to resolve the dispute shall be confidential and subject to the relevant provisions that settlement discussions may not be used as evidence in any legal proceedings).
31.2. If a Dispute cannot be resolved to your satisfaction and you wish to assert a claim against BIYWSZ , you agree to set forth in writing the basis for such claim in a “Notice of Claim” and give it as prior notice to BIYWSZ . The Notice of Claim must (1) describe the nature and basis of the claim or dispute; (2) state the specific relief sought; (3) provide the original order number; and (4) include the email address for your hosting account. The Notice of Claim should be submitted to the following URL: BIYWSZ.com . Once you submit a Notice of Claim to BIYWSZ , the dispute referred to therein may be submitted to arbitration by either BIYWSZ or you in accordance with the terms below (the “Arbitration Agreement”).
31.3. For the avoidance of doubt, submitting a dispute to Bitfast for internal resolution and sending a Notice of Claim to Bitfast are prerequisites to commencing arbitration proceedings (or any other legal proceedings).
31.4. During the arbitration, any settlement amount proposed by you or BIYWSZ shall not be disclosed to the arbitrator.
32. Arbitration Agreement
32.1. Unless applicable law provides otherwise or provides you with another choice, you and BIYWSZ agree that, subject to the above provisions (Claim Notification and Dispute Resolution Period), any Claim shall be determined by binding and final individual (not class) arbitration administered by the Hong Kong International Arbitration Centre (“ HKIAC ”) in accordance with the HKIAC Rules then in effect, which Rules are incorporated by reference into these Rules.
32.2. The place of arbitration shall be Hong Kong.
32.3. The arbitral tribunal shall consist of one (1) arbitrator who shall be appointed in accordance with the HKIAC Rules then in force.
32.4. The language of the arbitration shall be English.
32.5. You and BitFast further agree that the arbitrator shall have exclusive authority to rule within his or her own jurisdiction, including, without limitation, exclusive authority to rule on any objection to the existence, scope, or validity of the Arbitration Agreement or the arbitrability of any Claim.
32.6. The arbitration clause set forth in this Article will survive any termination of these Terms.
32.7. Limitation Period for Application: Any arbitration against BIYWSZ must be commenced by filing and serving a Notice of Arbitration in accordance with the HKIAC Rules within one (1) year after the date on which the User asserting the claim first discovered or should have discovered the alleged act, omission or default giving rise to the claim (the “ Limitation Period ”). For the avoidance of doubt, the Limitation Period shall include the Dispute Resolution Period set forth in Section 31.1. If User fails to file and serve a Notice of Arbitration on BIYWSZ with respect to any claim within the Limitation Period, User shall not be entitled to any remedy or relief with respect to the relevant claim. If the Limitation Period is inconsistent with applicable law, User must file any claim against BIYWSZ within the shortest time permitted by applicable law . The Notice of Arbitration may be served on BIYWSZ in accordance with applicable law and the Service Rules .
32.8. Note: If BIYWSZ initiates arbitration against you, BIYWSZ will send the notice to the email or mailing address you provide. You agree that any notice sent to that email or mailing address may be valid for any purpose, including but not limited to determining the adequacy of service. You are responsible for ensuring that the email and/or mailing address on file with BIYWSZ is the most up-to-date and accurate address.
33. Confidentiality
33.1. The parties agree that the arbitration shall be confidential. The existence of the arbitration, the fact of the existence of a claim or its substance, all documents and information provided or exchanged in connection with the arbitration, submissions made during the arbitration, any order made or any award rendered shall be confidential and shall not be disclosed by either party to any third party other than the Arbitral Tribunal, HKIAC, the parties, their counsel, experts, witnesses, accountants and auditors, insurers and reinsurers and any other persons necessary for the conduct of the arbitration. Notwithstanding the foregoing, either party may disclose the following confidential information:
a. if the other party has given written consent;
b. to the extent required by applicable law or the regulations of any regulatory or supervisory body with jurisdiction to which the party is or may be subject, or pursuant to any order of a court or other competent authority or tribunal of competent jurisdiction;
c. in connection with the commencement, prosecution or defense of any bona fide legal proceeding by a party to enforce or challenge any award rendered in the arbitration; and
d. The relevant confidential information enters the public domain without any violation of this Agreement.
The confidentiality provisions of these Terms shall survive termination of these Terms and the conclusion or suspension of any arbitration initiated under these Terms.
34. Governing Law
Except to the extent applicable law provides otherwise or provides you with another choice, these Terms (including this Arbitration Agreement) shall be governed by and construed in accordance with the laws of Hong Kong.
35. Waiver of Class Actions
You and BitFast each agree that any claim shall be brought against BitFast in your individual capacity and not as a plaintiff or class member in a purported class or representative action . To the extent permitted by applicable law, you further agree to waive any right to bring, hear or arbitrate such claims in a class, class, representative or private attorney general action. Individual arbitrations may not be consolidated or joined into one arbitration without BitFast’s consent.
General
36. General Terms
36.1. Applicable Law . You and any Permitted User must comply with all applicable laws, licensing requirements and third-party rights (including data privacy laws and anti-money laundering and countering the financing of terrorism laws) when using the BIYWSZ Services, your BIYWSZ Account and the Platform.
36.2. Notice . BIYWSZ may send notices to your email account by email. You are responsible for ensuring that you provide the latest and accurate email account. If a notice is sent via an email account, it shall be deemed that the notice has been sent and received regardless of whether you receive a failure notice.
You may only give notice to BIYWSZ in accordance with BIYWSZ 's instructions , which may change from time to time.
Any notice, consent or other communication given under these Terms must be in writing, in English, and signed or otherwise authorized by the party giving it.
36.3. Announcements . All official announcements, news, promotions, competitions and airdrops will be posted on the Official Website. These announcements are important and may relate to matters of concern that may affect the value or security of your digital assets. You are solely responsible for following the Official Website, reading and considering the announcements.
36.4. Entire Agreement . These Terms and any applicable Product Terms constitute the entire agreement between you and BIYWSZ in relation to the BIYWSZ Services. Each party acknowledges that it has not relied on, and shall have no rights or remedies in respect of, any statement, representation, warranty or guarantee (whether made negligently or innocently) other than as expressly set out in these Terms or any Product Terms.
36.5. Assignment . You may not assign or transfer any of your rights or obligations under these Terms without BIYWSZ’s prior written consent. However, BIYWSZ may assign or transfer any of its rights or obligations under these Terms to any other person at any time, including, without limitation, in connection with any merger, acquisition or other corporate reorganization of BIYWSZ .
36.6. Invalidity . If at any time any clause or sub-clause of these Terms becomes illegal, invalid or unenforceable in any respect, the legality, validity or enforceability of the remaining clauses or sub-clauses will not be affected or impaired in any way.
36.7. Recording . You agree that BIYWSZ may record any phone calls, emails, chat conversations and any other forms of communication between you and BIYWSZ, including communications between you and BIYWSZ regarding sending instructions or effecting transactions, and you agree that such records may be used as evidence in any litigation relating to any agreement with you. Such records will be the sole property of BIYWSZ .
36.8. Language . These Terms may be translated into a language other than English. Any such translation is provided solely for your convenience. In the event of any conflict or inconsistency, the English text shall prevail.
36.9. Third Party Rights . Except with respect to BIYWSZ Affiliates, nothing in these Terms or any reference to anything in these Terms shall be construed as conferring upon any person other than the parties hereto any legal or equitable right, remedy or claim under or in connection with these Terms or any term or sub-term thereof. These Terms and all terms and sub-terms thereof shall inure exclusively to the benefit of the parties hereto and their successors and permitted assigns.
36.10. Survival . All clauses and subclauses of these Terms that by their nature should survive expiration or termination of these Terms will continue to be binding and effective after such termination or expiration.
36.11. Relationship between the Parties . BIYWSZ is not your agent for the enforcement of these Terms. These Terms shall not be construed as the fact or evidence of any association, joint venture, partnership or franchise between the Parties.
36.12. Digital Assets. BIYWSZ records the amount and type of any Digital Assets in your name in your BIYWSZ Account. BIYWSZ is not the custodian of any Digital Assets in your name and has no custodian liability for any Digital Assets in your name. When you instruct BIYWSZ to transfer or otherwise deal with Digital Assets, BIYWSZ will not use any specific Digital Asset (no matter how identifiable) to execute your instructions. Subject to the provisions of these Terms, BIYWSZ will use the same type of Digital Assets as the amount of Digital Assets credited to your BIYWSZ Account when executing your instructions.
36.13. Force Majeure . BIYWSZ shall not be liable for any delay or failure to perform under these Terms if performance is delayed or prevented by a Force Majeure Event .
36.14. No Waiver . Any delay or failure by BIYWSZ to exercise any right or remedy under these Terms will not operate as a waiver of future exercise of such right or remedy or a waiver of any other right or remedy under these Terms. The rights and remedies provided in these Terms are cumulative and not exclusive of any rights or remedies provided by applicable law.
36.15. Offset . In addition to any legal or other remedies provided by these Terms or by law, BIYWSZ may set off any amounts owed by you to BIYWSZ under these Terms or otherwise. You must pay all amounts owed to BIYWSZ in full without setoff, counterclaim, deduction or withholding of any kind, except to the extent such setoff, counterclaim, deduction or withholding is required by applicable law.
36.16. Privacy of Others . If you receive information about another user through the Platform or through the use of the BIYWSZ Services, you must keep such information confidential and use it only in connection with the BIYWSZ Services and always in accordance with applicable law. You may not disclose or distribute any user information to third parties or use such information in any manner other than as reasonably necessary to effectuate a transaction.
36.17. Violation Publication . If you violate these Terms, BIYWSZ may publish or otherwise make available to BIYWSZ users details of your violation (including any information you provided to BIYWSZ ). BIYWSZ will only do so if it determines that such action is necessary to protect other users or to comply with applicable law.
36.18. Death of a BIYWSZ Account Holder . If you die or become incapable, your personal representative or survivor(s), must notify BIYWSZ in writing as soon as possible . If we have reason to believe that you have died, we may suspend your BIYWSZ account. Your BIYWSZ account will be suspended until:
a. your personal representative or authorized beneficiary, (1) creates a BIYWSZ account in accordance with these Terms; or (2) provides wire transfer instructions; and
b. provide sufficient legal documentation to prove that they have the right to receive the assets in your BIYWSZ account; or
c. You provide sufficient evidence to prove that you are not deceased.
The beneficiary receiving the wire transfer will receive the liquidated value of the assets in your BIYWSZ account, less any fees and costs associated with the transfer. BIYWSZ 's ability to provide the assets in your BIYWSZ account to your representative is subject to applicable law and the limitations set forth in these Terms. BIYWSZ does not commit to any specific timeline for the transfer of assets in your BIYWSZ account.
36.19. Taxes . You are responsible for determining what taxes, if any, apply to payments you make or receive, and for collecting, reporting and paying the correct taxes to the relevant tax authorities. You agree that BIYWSZ is not responsible for determining whether any taxes apply to your use of the BIYWSZ Services, and is not responsible for collecting, reporting or paying any taxes arising from any transactions or use of the BIYWSZ Services.
You understand that BIYWSZ may file certain reports with tax authorities regarding transactions conducted through the Platform, and BIYWSZ may, at its sole discretion or as required by applicable law, provide you with additional documents or records necessary for you to calculate any taxes. BIYWSZ may also withhold and deduct at source any taxes payable under applicable law as determined by us in our sole discretion.
37. Definitions and Interpretation
Under these Terms:
a. The headings and numbering of these Terms are for convenience only and shall not affect the meaning, priority or interpretation of any clause or sub-clause thereof;
b. the expressions “include” or “including” mean including but not limited to;
c. a promise to do or not to do something shall be deemed to include a promise not to permit or accept that thing;
d. words denoting the singular include the plural and vice versa and words denoting gender include both genders;
e. any reference to any Document is a reference to that Document as amended, modified or updated from time to time and not a reference to a breach of these Terms or that Document; and
f. In the event of any inconsistency between the provisions of these Terms and Conditions (including any documents referred to therein), the provisions and documents shall prevail in the following order of precedence:
i. Product Terms;
ii. Privacy Notice ; and
iii. These Terms.
g. Unless the context requires otherwise, the following terms shall have the following meanings:
Access ID means your BIYWSZ account details, username, password, personal identification number, API key, API encryption key or any other code or form of authentication that you use to access your BIYWSZ account or BIYWSZ Services or to send instructions.
Account History means the written record (including electronic record) of your transactions and your BIYWSZ Account.
API refers to Application Programming Interface.
Applicable Law means all relevant or applicable statutes, laws (including rules of common law), principles of equity , rules, regulations, regulatory principles and requirements, notices, orders, writs, injunctions, judgments, bye-laws, rulings, instructions, notices, circulars, mandatory codes of conduct, guidelines, practice notes and interpretations (whether of a governmental, regulatory or other body or a self-regulatory body of which BIYWSZ is a member) applicable to the provision, receipt or use of the BIYWSZ Services or the provision, use or acceptance of any other products or deliverables in connection with the BIYWSZ Services, these Terms or any Product Terms.
Secured Digital Assets has the meaning set forth in Section 15.3.
BIYWSZ , we , us or our means Nest Services Limited, a company incorporated under the laws of the Republic of Seychelles with registration number 238045 and registered address at House of Francis, Room 303, Ile Du Port, Mahe, Seychelles.
BIYWSZ Account means any account (including a BIYWSZ corporate account) or sub-account (including any BIYWSZ sub-account) opened by BIYWSZ that records your use of BIYWSZ services .
BIYWSZ Alliance Partner means, in relation to Nest Services Limited, any other person who directly or indirectly controls, is controlled by or is under common control with Nest Services Limited.
In the case of BIYWSZ , BIYWSZ API means the API provided to you by BIYWSZ Affiliates as a service or in the form of a third party application that relies on such API.
BIYWSZ Intellectual Property means the Creative Intellectual Property and all other Intellectual Property owned by BIYWSZ or licensed to BIYWSZ on a sub-licensed basis as of the date of these Terms, and any other Intellectual Property owned, acquired by BIYWSZ or licensed to BIYWSZ on a sub-licensable basis after the date of these Terms , and the Intellectual Property that you provide to BIYWSZ in the course of BIYWSZ's provision of the BIYWSZ Services to you .
BIYWSZ Service means the services provided by BIYWSZ to you through the Platform.
BIYWSZ sub-account refers to a sub-account established under a BIYWSZ primary account.
Chat Service has the meaning set out in Section 5.
Claim means any dispute, claim, disagreement or controversy between you and BIYWSZ (and/or any BIYWSZ Affiliate) arising out of, relating to or in any way connected with:
(a) these Terms or any Product Terms, including their existence, validity, subject matter, interpretation, performance, breach, negotiation, termination, enforceability or the consequences of their invalidity;
(b) the relationship between you as a User and BIYWSZ (and/or any BIYWSZ Affiliate) (whether such relationship is based on contract, tort, statute, fraud, misrepresentation or any other legal theory, and whether or not a claim arises during or after the termination of these Terms); or
any non-contractual obligations arising out of or in connection with these Terms, any Product Terms or the relationship between you and BIYWSZ (and/or any BIYWSZ Affiliate Partner).
Control is the power of one person to ensure that the affairs of another person are conducted in accordance with the first person's wishes. Control can be achieved by:
(a) in the case of a corporation, being the beneficial owner of more than fifty percent (50%) of the issued share capital or voting power of the corporation; or having the power to appoint and remove a majority of the directors; or controlling the voting at meetings of the board of directors of the corporation by virtue of any power conferred by the constitution, shareholders’ agreement, majority of the board of directors or any other document governing the affairs of the corporation; or by any other means; or
(b) in the case of a partnership, being the beneficial owner of more than fifty percent (50%) of the capital of the partnership; or being entitled to control the composition of the management of the partnership or a majority of the voting power by virtue of any power conferred by the Partnership Agreement or any other document governing the affairs of the partnership; or by any other means.
BIYWSZ Corporate Account means a BIYWSZ account opened for a company, entity or other organization for the purpose of providing BIYWSZ services .
Created Intellectual Property means any intellectual property created by you under these Terms, including User Materials but excluding any other User Intellectual Property.
Digital assets refer to digital representations of value or rights that can be transferred and stored electronically using distributed ledger technology or similar technologies, including but not limited to cryptocurrencies, stablecoins, non-fungible tokens and any other tokenized derivatives of digital assets.
Dominant Digital Assets refer to forked digital assets that are dominant over one or more other versions of digital assets resulting from a fork determined at the sole discretion of Bitfast .
Email Account means the email account associated with your BIYWSZ Account as agreed with BIYWSZ from time to time when you use the Platform in accordance with any process determined by BIYWSZ .
Fiat currency means any national or supranational currency issued by a government or central bank, or other monetary debt denominated in such currency that is not a digital asset.
Force majeure events are:
a. any fire, strike, riot, civil commotion, act of terrorism, war or industrial action;
b. Any natural disasters such as floods, tornadoes, earthquakes and hurricanes;
c. any epidemic, outbreak or public health emergency of national or international concern;
any act or regulation made by a government, supranational body or authority which BIYWSZ considers prevents BIYWSZ from providing the BIYWSZ Services on the Platform ;
e. Any BIYWSZ affiliate partner is suspended or closed;
f. any nationalization of any BIYWSZ affiliate partner;
g. The government imposes restrictions or unusual terms on any digital asset traded on the BIYWSZ platform;
h. excessive changes in the price, supply or demand of any Digital Asset;
i. technical failures of transmission, communications or computer facilities, including power failures and electronic or equipment failures;
j. Any provider, intermediary broker, agent, primary custodian, sub-custodian, dealer, trading platform, staking platform, liquidity pool, bridge provider, issuer of collateralized digital assets, market maker, clearing house or regulator fails to perform its obligations to BitFast ;
k. The liquidity provider does not provide or is unable to provide liquidity to BIYWSZ ;
l. any labour or industrial dispute, strike, industrial action or lock-out ( other than industrial action or lock-out by BIYWSZ or a BIYWSZ affiliate); and/or
m. Events that materially disrupt the digital asset market, which may include excessive changes in the price, supply, or demand for a digital asset, whether regulated or unregulated.
Forks refer to any planned, unplanned, sudden, prearranged, expected, unexpected, publicly advertised, unknown, consensual and/or controversial changes in the basic operating rules of certain digital assets that may occur from time to time, resulting in the creation of one or more related versions of existing digital assets.
Forked digital assets refer to digital assets generated by forking.
Instructions means any instructions, requests or orders given by you or a Licensed User to BIYWSZ in connection with the operation of your BIYWSZ Account or instructions that BIYWSZ may require to execute any Transaction through such medium, in such form and manner.
Intellectual Property Rights means: (a) copyright, patents, database rights and rights in trade marks, designs, know-how and confidential information (whether registered or not); (b) applications for registration of any of the foregoing rights and the right to apply for registration of any of the foregoing rights; and (c) all other intellectual property rights and equivalent or similar forms of protection which exist anywhere in the world.
“Prohibited Countries List” means the list of countries accessible via BIYWSZ.com .
Local Terms means the terms set out in any particular jurisdiction that govern your use of the BIYWSZ Services.
Loss has the meaning set out in Clause 29.1.
A Manifest Error means any error, omission or misquote (whether by BIYWSZ or any third party) which is obvious or readily detectable, including any misquote made by any representative of BIYWSZ taking into account current markets and currently advertised quotes, or any error in any information, source, officer, official result or pronunciation.
Mobile App means any mobile application developed or provided by BIYWSZ or any BIYWSZ Alliance Partner that enables you to use or otherwise access the BIYWSZ Services.
Permitted User means any person nominated by you under these Terms who is authorised to act on behalf of that User for any BIYWSZ Business Account and to notify us of such act.
Platform means the digital platform through which BIYWSZ or any of its affiliates can provide the BIYWSZ services to you through the official website, mobile app,
BIYWSZ API or other means specified by BIYWSZ affiliates from time to time . Privacy Notice means the privacy notice published on BIYWSZ.com .
“Product Terms” means the product-specific terms and conditions applicable to the use of the BIYWSZ Services in addition to these Terms.
Regulatory Authority means any foreign, domestic, state, federal, municipal or local government, executive, legislative, judicial, administrative, supervisory or regulatory authority, agency, quasi-governmental body, court, commission, governmental organisation, self-regulatory body with a regulatory authority, tribunal, tribunal or panel or supranational organisation, or any instrumentality or agency thereof, including any tax authority.
A restricted person is an individual or legal entity that: (a) is listed on any trade embargo or economic sanctions, terrorist or foreign corrupt official list (lists published by government agencies, such as the United Nations Security Council sanctions lists, including the Specially Designated Nationals List maintained by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), or the U.S. Department of Commerce's Denied Persons or Entity List, or lists published by the United Kingdom, the European Union, or Canada); or (b) is resident, established or operating in any country listed on the Prohibited Countries List .
Risk warnings refer to the general risk warnings published on the official website.
Security vulnerabilities
a. your BIYWSZ account or any of your access IDs has been compromised;
b. loss, theft or unauthorized use of any of your access IDs, or access and use of your BIYWSZ account or BIYWSZ services on your behalf without your authorization; or
c. any other security incident (including network security attacks) affecting you and/or BitFast .
Website means the BIYWSZ official website and any other website, page, feature or content owned or operated by BIYWSZ .
Supported digital assets refer to digital assets that you can use when using the BIYWSZ service.
Terms means these Terms of Use, and any other documents expressly incorporated by reference, including the Product Terms, all of which may be amended or supplemented from time to time.
Trademarks means the intellectual property in the trademarks, service marks and logos used and displayed on or through the Platform, Website and/or BIYWSZ Services.
Trading means selling, buying or conducting any other type of transaction, or agreeing to sell/buy or conduct transactions related to Digital Assets, their derivatives, other assets or any other products that BIYWSZ allows the Platform to conduct from time to time, and depositing Digital Assets or Fiat Currency into your BIYWSZ Account or withdrawing it from your BIYWSZ Account.
User Intellectual Property means the intellectual property owned by you or licensed to you on the effective date of these Terms, and any other intellectual property owned, acquired or licensed to you after the date of these Terms, excluding the BIYWSZ Intellectual Property.
User Materials means the intellectual property rights contained in any comments, postings, information, data and reviews that you or other users provide to BIYWSZ through the Website (through the BIYWSZ "Contact Us" page or otherwise), the Platform, using BIYWSZ's services or otherwise .
Official Website refers to the website at BIYWSZ.com .
assets, their derivatives, other assets or any other products that BIYWSZ allows the Platform to conduct from time to time or conduct transactions related to them, and deposit digital assets or fiat currencies into your BIYWSZ account or withdraw them from your BIYWSZ account.
User Intellectual Property means the intellectual property owned by you or licensed to you on the effective date of these Terms, and any other intellectual property owned, acquired or licensed to you after the date of these Terms, excluding the BIYWSZ Intellectual Property.
User Materials means the intellectual property rights contained in any comments, postings, information, data and reviews that you or other users provide to BIYWSZ through the Website (through the BIYWSZ "Contact Us" page or otherwise), the Platform, using BIYWSZ's services or otherwise .
Official Website refers to the website at BIYWSZ.com .
