Anti-Money Laundering Agreement

**I. Preamble**

https://www.biton.one/ (hereinafter referred to as "this Website" or "the Website") provides services that may involve risks related to money laundering and financing terrorism. Under the influence of Singapore's Anti-Money Laundering and Countering the Financing of Terrorism ("AML/CFT") laws and regulations, this Website will comply with the requirements of such laws and regulations. This includes establishing training, processes, and systems to identify, manage, and mitigate risks. The purpose is to protect the reputation of the Website, comply with relevant laws, and be a responsible corporate citizen.

1.1 This Website guarantees prudent compliance with "Know Your Customer" and anti-money laundering laws and regulations, and shall not intentionally violate the "Know Your Customer and Anti-Money Laundering Policy." Within the reasonable control of the Website, necessary measures and technologies will be taken to provide you with secure services, minimizing the risk of exposure to criminal activities involving money laundering.

1.2 The Website's Know Your Customer and Anti-Money Laundering policy constitute a comprehensive international policy framework, encompassing Know Your Customer and Anti-Money Laundering policies in different legal jurisdictions to which you may be subject. The Website's robust compliance framework ensures that the Website complies with regulatory requirements and standards at both local and global levels, ensuring the continuous operation of the Website.

**II. Introduction**

2.1 **What is Money Laundering?**

Money laundering involves concealing or disguising the illicit origin of "dirty" funds to make them appear legally "clean." Money laundering reduces the risk of detection and confiscation by authorities, and is as serious as the criminal activities behind it. Preventing money laundering can help reduce crime.

2.2 **What is Terrorism Financing?**

Terrorism financing differs from money laundering in three main aspects:

1) Its primary purpose is to conceal the ultimate use of funds rather than their source;

2) It may involve relatively less money but can lead to significant destructive activities resulting in death, injury, and other impacts;

3) While terrorists may fund their activities through crime, legitimate funds may also be misappropriated to finance terrorism.

2.3 **What is Suspicion?**

Money laundering and terrorism financing (ML/TF) are sometimes identified due to a member acting suspiciously or engaging in suspicious behavior. For "suspicion" to be valid, the Website must have reasonable grounds to believe that money laundering and terrorism financing activities may be occurring. To support this, employees undergo training to identify and report suspicious activities.

**III. Know Your Customer and Anti-Money Laundering Policy**

3.1 Publish and regularly update the Know Your Customer and Anti-Money Laundering policy to meet the standards set by relevant laws and regulations.

3.2 Publish and update guiding principles and rules governing the operation of the Website, with employees providing services in accordance with these principles and rules.

3.3 Design and implement internal monitoring and control procedures for transactions, including strict identity verification measures and the formation of specialized teams dedicated to anti-money laundering efforts.

3.4 Conduct due diligence on customers and maintain ongoing supervision using a risk-based approach.

3.5 Review and periodically examine completed transactions.

3.6 Report suspicious transactions to regulatory authorities.

3.7 Identity documents, address verification files will be maintained for at least six years, and transaction records will be retained for at least three months, without additional notification unless submitted to regulatory authorities.

**IV. Identity Information and Verification Confirmation**

4.1 **Identity Information**

4.1.1 Depending on different legal jurisdictions and entity types, the information collected by this Website may vary. In principle, the Website will collect the following information from registered individuals:

- Personal basic information: Your name, date of birth, nationality, and other available information. Identity verification should be based on documents issued by official or similarly authoritative institutions, such as passports, identity cards, or other identity proof documents required by different jurisdictions.

- Valid photos: Before you register, you must provide a photo of yourself with your identification documents placed in front of your chest;

- Contact information: Phone/mobile number and/or a valid email address.

4.1.2 If you are a company or another legal entity, the Website will collect the following information to determine the ultimate beneficial owner of your account:

- Company registration, registration certificate; Copy of the company's articles of association and memorandum; Detailed proof of the company's equity structure and ownership description, proving the authorization to open an account with this Website and execute the board resolution of the authorized representative; Identity proof documents for company directors, major shareholders, and individuals authorized to sign for the Website, as required; The company's primary business address, and if different from the company's mailing address, provide the mailing address. If the company's local address differs from its primary business address, it is considered a higher-risk customer, requiring additional attachments;

- Depending on different legal jurisdictions and entity types, other certifications requested by the Website and documents deemed necessary by the Website.

4.2 **Confirmation and Verification**

4.2.1 The Website requires you to provide the entire page content of identity proof documents;

4.2.2 The Website requires you to provide a photo of yourself with your identification documents placed in front of your chest;

4.2.3 Copies of proof documents should generally be verified against the original certificates. However, if a reliable and appropriate certifier can attest that the copy is an accurate and comprehensive reproduction of the original document, the copy may be accepted. Such certifiers include ambassadors, judicial commissioners, local law enforcement officials, etc.;

4.2.4 Requests to identify the ultimate beneficial owner and account control are to determine which individuals ultimately own or control the direct customer and/or to determine if transactions are being executed on behalf of others. If it's a corporation, the identity of major shareholders (those holding 10% or more voting rights) should be verified. Generally, holding 25% of shares is considered within normal risk, and their shareholder identity needs verification; holding 10% or more voting rights or shares is considered a high-risk situation, and shareholder identity must be verified.

4.2.5 The Website reserves the right to choose the markets and jurisdictions in which it operates, and may decide to restrict or refuse to provide services in the following countries: Bahamas, Botswana, Ghana, Panama, Syria, Trinidad and Tobago, Yemen, and Zimbabwe.

**V. Transaction Monitoring**

5.1 The Website sets and adjusts daily transaction and withdrawal limits based on security and actual transaction conditions;

5.2 If transactions frequently concentrate on a registered user or if there are unreasonable circumstances, the Website's professional team will assess and determine whether they are suspicious;

5.3 Based on its own judgment, if a transaction is deemed suspicious, the Website may take restrictive measures such as suspending or rejecting the transaction, and may even reverse the transaction as soon as possible while reporting to regulatory authorities, without notifying you;

5.4 The Website reserves the right to refuse registration applications from individuals who do not comply with the international anti-money laundering standards or may be considered politically exposed persons. The Website reserves the right to suspend or terminate transactions deemed suspicious based on its own judgment, without violating any obligations and responsibilities to you.

Contact Us：

service@biton.one

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