Information Disclosure and Risks of Digital Asset Custody Of Digital Asset Business Operators

Modified on Fri, 28 Jun at 5:56 PM

1. Storage of Users’ Assets

Digital asset business operators are not financial institutions according to the Deposit Protection Agency Act. And depositing money and digital assets with a digital asset business operator is not a deposit that is protected according to the Deposit Protection Agency Act. In the case of damage to customer assets deposited with a digital asset business operator, the customer may not receive the full amount of assets back from the business operator immediately.

2. Strength of Digital Asset Business Operator Evaluation

Users can check the financial status of digital asset business operators from their financial statements and the business operator's operating results are also published on the business operator's website. Other information should be considered in deciding to use the service, such as the quality of the service and complaint management, etc.

3. Risk Management of Users

Users may manage risks related to the storage of digital assets. Users may deposit digital assets with digital asset business operators in an amount sufficient to meet the transaction needs. For the remaining part that is not used in transactions, customers may store them in their own digital assets wallet. Before proceeding with transfers or transactions, customers should study how to use each type of wallet and how to keep their private key or password safely, etc.

4. Storing Digital Assets with Other Service Providers

The operator stores digital assets with digital asset custodians (third-party custodians) as follows:

No.	Service Provider	Country of Registration	Regulations in the Country of Registration	Website or Other Details of Service Provider
1	BitGo Trust Company, Inc.	United States of America	Regulator: South Dakota Division of Banking License: South Dakota Trust Charter for Public South Dakota Trust Company To operate as a custodian purpose-built for storing digital assets.	https://www.bitgo.com/
2	Coinbase Custody Trust Company, LLC.	United States of America	Regulator: New York Department of Financial Services (NYDFS) License: The New York State Limited Purpose Trust charter To operate as a custodian to offer custody services for virtual currency.	https://www.coinbase.com/
3	Rakkar Digital (Hong Kong) Limited	The People's Republic of China (Hong Kong)	Regulator: The Government of the Hong Kong Special Administrative Region License: Trust or Company Service Provider (TCSP) License	https://www.rakkardigital.com/

The Company thanks you for your trust and kind support as always.