DGalaxy was established on 28th June 2020, registered in Singapore, and belongs to the DGalaxy Digital Hedge Fund(hereinafter referred to as “DGalaxy” or “this website”, “exchange” and “us”) is a platform dedicated to providing technical services related to the trading of digital assets.
By browsing, accessing or using DGalaxy and the mobile application website services provided by us (collectively referred to as the "service"), you (the "user" or "you") are deemed to have agreed to these terms of service (the "terms"), So please read it carefully. If you do not agree to these terms, please do not access or use this service.
We have the right to change or modify the terms and conditions at any time,including but not limited to any policies or guidelines on this platform. We will provide notice of these changes by publishing the revised terms and changing the "last updated" date at the top of the terms, or by any other means at our sole discretion. Any changes or modifications will take effect immediately when the revised version is published on this website, and these changes will immediately apply to all current and subsequent uses or services.
Your continued use of this platform will be deemed as your consent to these changes or modifications. If you do not agree to the current terms when accessing or using this platform, you must stop using our services. We recommend that you review the terms frequently to ensure that you understand the terms and conditions that apply to your access and use of the service.
This statement provides an overview of DGalaxy's policies, identification procedures and actions to reduce the risk of money laundering and terrorist financing. This statement applies only to the DGalaxy website itself, and to customers who receive separate services from DGalaxy's service providers or partners.
- What is money laundering/terrorist financing?
Money laundering is a process in which criminals conceal their illegal income and the income they generate from their criminal activities by various means to cover up and conceal their source and nature so as to make them legal in form. The term "money laundering" could cover all methods used to conceal the identity of assets acquired illegally so that they could be used for legitimate purposes.
Terrorist financing is the use of the financial system and infrastructure to finance terrorist organizations.
- Customer due diligence
We will seek necessary information from customers to verify their identities in accordance with the requirements of Singapore’s anti-money laundering and anti-terrorism financing systems. We may use third-party service sources to verify customer information, or may require customers to produce copies of documents that prove their identity.
Customer due diligence will investigate the user's identity, country and other risk-sensitive factors. If the user is reasonably suspected of being a risky and sensitive person, it is necessary to provide more information than users with lower risks.
We have formulated policies and procedures to confirm when and under what circumstances the risk of money laundering is higher, and under what circumstances users are not classified as risky and sensitive persons. At the same time, users who are identified as politically sensitive persons (PEP) will be subject to stricter verification .
If we are unable to verify the user’s identity, we will not establish a business relationship with the user, nor will the user be allowed to trade on the DGalaxy exchange. If we believe that the user poses a high enough money laundering risk, then we will not establish a business relationship with the customer or immediately terminate the business relationship.
We will retain evidence of the user's identity for at least five years from the date of the end of the business relationship with the user. All data collected in compliance with our anti-money laundering obligations will be treated in accordance with our privacy policy, which is available on this website.
- Transaction monitoring
Once the user's identity is verified, we are obliged to monitor all transactions and fund movements of the user in the DGalaxy exchange to determine whether the customer's transaction is suspicious.
We have policies and measures in place to further investigate and identify which transactions are suspicious.
- Organize procedures
We have established a risk control compliance department and established an MLRO position to perform our AML functions, ensure timely compliance with our aml obligations as required by law (including any suspicious activity reports) and report to the Board an annual report on AML compliance and compliance with the AML regime.
We train all relevant staff to familiarize them with the process of verifying customer identity and to recognize the potential increased risks of money laundering and how to respond when money laundering risks arise.
MLRO and our Board of Directors will periodically review their policies and procedures to ensure that they are effective in preventing DGalaxy from being used for money laundering and terrorist financing.
In addition to observing Singapore's anti-money laundering and anti-terrorist financing regime, we also follow Singapore's anti-sanctions regime.
We will conduct regular checks to ensure that potential customers are not included in any sanctions list established by the Government of Singapore. We will not allow anyone on the sanctions list to trade on the DGalaxy Exchange.