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Terms & Condition - P2P Transaction Policy

A. ALL USERS SHALL ABIDE BY THE KYC (KNOW-YOUR-CUSTOMER), ANTI-MONEY LAUNDERING, ANTI-TERRORIST FINANCING, AND LEGALITY PRINCIPLES SET OUT IN THIS POLICY:

1. Users shall strictly comply with DTTD’s identity verification (know-your-customer, or KYC) policy (including but not limited to the real-name verification requirement) concerning Users’ identity and P2P transaction-related accounts, hereinafter collectively referred to as “Accounts.” Users shall ensure that the Accounts they use on the P2P Platform (the “P2P Platform”) are legally registered and only used by themselves

2. When triggering the P2P Platform’s anti-money laundering and anti-terrorist financing alarms, Users shall actively cooperate with the P2P Platform in its verification, and assist in providing any risk control evidence as needed (subject to the P2P Platform’s risk control measures then effective).

3. If Users failed to comply with (A.2.), the P2P Platform has the right to disable all or any part of the features of their Accounts.

4. Users shall be responsible for ensuring that they have the legal rights to the transaction in accordance with applicable laws. The P2P Platform shall not be responsible for the legality or illegality of Users’ transactions in any way. While the P2P Platform is not part of any P2P transactions between the Users, to make sure all transactions are legally compliant, the P2P Platform may (but is not obliged to) review the transactions carried out by users for the legality as necessary and take actions in accordance with applicable laws and regulations.

5. It is Users’ responsibility to abide by local laws in relation to the legal usage of the P2P Platform in their local jurisdiction, as well as other laws and regulations applicable to Users. Users must also factor, to the extent of their local laws, all aspects of taxation, the withholding, collection, reporting, and remittance to their appropriate tax authorities.

 

B. General Trading Instructions:

1. Before you have decided to initiate an order with the counterparty, always read the terms and conditions that have been written on the advertisement description page carefully to avoid unnecessary disputes between the parties after the order gets initiated.

2. You should never engage in any form of NFT trading that is facilitated by a third-party channel, such as social media, chat messaging apps, or face-to-face trading. The P2P Platform shall not be and cannot be responsible for any loss of or damages to assets through transactions that are performed or initiated outside of the P2P Platform by the Users. The P2P Platform sets the rules for the transaction between Seller and Buyer, solely to support the user experience on the P2P Platform. The P2P Platform is not part of any P2P transactions.

3. Users should refrain from using foul and offensive language when using the P2P Platform. This includes, but not limited to, the tools permitting messaging with other users and the customer support live chat, as well as the order comment section.

6. Both trading parties should bear the additional transaction costs involved in gas fee and platform fee, for example, transaction fees required by the payment service provider, unless either party has explicitly agreed to pay for the additional transaction costs before the establishment of trade. Thus, the sending amount should be inclusive of the transaction costs. 

 

 

C. Risk Warning and Disclaimer:

  • Users must fully understand the risks associated with P2P transactions, including but not limited to the risk of fluctuations in the value of digital assets, the credibility risks concerning the counterparties under P2P transactions, and the compliance risks of fiat currency transactions.
  • Users must have sufficient investment knowledge and experience and the ability to bear the risks associated with P2P transactions, as well as agree to independently bear all the risks arising from the engagement in P2P transactions.
  • Users should not indicate any personal information (i.e., phone number, social networks, messengers, etc.) neither in the trading conditions nor in auto-replies or the order chat for their safety.
  • Users should not include “DTTD,” names of local banks and payment systems, personal information or any other sensitive words in their nicknames.
  • Users must not utilize multiple accounts to trade on the P2P Platform. In case such accounts are detected, we have the right to block all linked user accounts from trading.
  • Before a P2P transaction, you must have read and understood all contents of this Policy, the Terms, and relevant DTTD rules.
  • The P2P Platform is not a party to any P2P transaction. Therefore, any disputes between Users engaging in P2P transactions have nothing to do with the P2P Platform. The P2P Platform has neither the rights nor the obligations to resolve any disputes arising therefrom. It is not obliged to assume any financial or non-financial obligations or responsibilities to any party (including but not limited to indemnities).
  • You agree and authorize the P2P Platform to take all reasonable actions (including but not limited to cancelling transactions or disabling account features under certain circumstances) in accordance with this Policy, the Terms, and relevant DTTD rules to safeguard your, the P2P Platform’s and other Users’ legitimate rights.
  • Please note that DTTD does not establish any form of business relationship with the payment method listed on our P2P Platform, if any.

 

D. Abnormal Trading Behaviors and Measures to Address Them

You agree that, to the maximum extent permitted by law, the P2P Platform shall not be liable for any losses you suffer from P2P transactions or the use of services under this Policy due to reasons other than the P2P Platform’s intentional conduction or gross negligence, including but not limited to hacker attacks, power outages or unavoidable technical failures.

The P2P Platform has the right to restrict, suspend, or terminate your Account or access to services in the P2P Platform’s sole and absolute discretion, immediately and without notice and for a period, at the discretion of the P2P Platform, if:

  • We reasonably suspect that you have violated or may be acting in violation of this Policy;
  • We believe it is necessary to protect our other Users. If we exercise our right to restrict or deny your access to the Services, we will not be responsible for any consequences of our failure to provide you with access to the Services, including any delay, damage, or inconvenience that may result;
  • We determine that you are using our P2P Platform in any way that may adversely affect or prevent other users from taking advantage of DTTD Services;
  • It is revealed that in the process of interacting with other users, you have used obscene language against the counterparty, insulted, extorted, harassed, threatened, or otherwise violated or tried to violate legal rights (such as, among other things, the rights to privacy, publicity, intellectual property, etc.) of other users, as well as have engaged in the collection of private information which has subsequently been distributed to any other parties.

You acknowledge that our decision to take certain actions, including limiting access to, suspending, or closing your Account or wallet, may be based on confidential criteria that are essential to our risk management and security protocols. You agree that DTTD is under no obligation to disclose the details of its risk management and security procedures to you.

We will remove the suspension as soon as possible once the reasons for the suspension no longer exist. However, we are under no obligation to notify you when (if ever) such suspension will be lifted.

 

Abnormal trading behaviors

Handling rule

1. Payment is not made within the time limit after the order is created.

Order is automatically cancelled.

Scenarios triggering risk control abnormalities

Handling rules

1. Abnormalities are detected by the risk control system and the involved Users explicitly refuse or do not actively cooperate with the P2P Platform for subsequent anti-money laundering or anti-terrorism financing verification.

The P2P Platform may opt to directly deem the Accounts in question as abnormal and take corresponding measures, including but not limited to raising Users’ risk level, directly freezing Users’ Accounts and other related Accounts until risk control evidence provided by Users pass the risk control review by the P2P Platform.

2. Users’ Accounts are found to be suspected of fraud (or attempted fraud), withdrawal of money to high-risk platforms (including but not limited to unlicensed crypto-dealer platforms, online gambling platforms, platforms suspected of money laundering or fraud, or other high-risk entities), or other high-risk asset transfers.

The P2P Platform may directly freeze or disable the transaction, withdrawal, or all P2P features of the associated Account(s).

3. An Account is not being used by the Users under whose name it is registered, or is illegally used to buy digital assets for others. Users are found to have sold, lent, or rented their Accounts to others, or have illegally purchased digital assets for others.

Risk warning: Please keep your information safe to avoid being exploited by others for criminal acts.

The P2P Platform may take necessary measures, including but not limited to temporarily or permanently disabling the P2P trading feature, delaying or disabling the withdrawal feature, or directly freezing such Users’ Accounts and associated Accounts.

4. Receipt or introduction of digital assets or funds from illegal sources. Users know or can reasonably infer with common sense that the funds received from other P2P Platforms are of illegal origin or nature, yet still allow them to flow into the Accounts of other Users on the P2P Platform.

The P2P Platform may directly and permanently disable all or parts of the features of such Users’ Account and associated Accounts, and terminate any services provided to the Users or performance of any contractual obligations.

5. A User is identified as having committed money laundering: detected by the risk control system or verified by risk control staff as having directly participated in or assisted money laundering.

The P2P Platform may directly and permanently disable all or parts of the features of the User’s Account and associated Accounts, and terminate any services provided to the User or performance of any contractual obligations.

6. Account freeze authorized by court: an Account has been frozen upon the request of a judicial authority.

The P2P Platform may freeze an Account upon a written request by a judicial authority in accordance with relevant laws and regulations. During the freezing period, the User involved shall contact the relevant judicial authority, rather than the P2P Platform, to resolve the matter.

7. Investigation by law enforcement: Users are requested by a judiciary institution to retrieve account information on the P2P Platform, in the forms of, including but not limited to, judicial investigation and consultation.

The P2P Platform may disable certain features of the User’s Account and associated Accounts.

 


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DTTD is the author of this solution article.

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