Hong Kong and Taiwan Region Certified Maker Transaction Code of Conduct

Phát hành vào 19 thg 9, 2023Thời gian đọc: 10 phút

Dear OKX user:

To regulate the trading behavior of certified Makers on the OKX platform, establish a safer and more standardized trading environment, and enhance the overall quality and credibility of certified Makers on the platform, the updated trading guidelines for certified Makers on the OKX platform are as follows:

Note: These guidelines take effect from the date of their issuance and will be updated or revised from time to time. New guidelines will take effect from the date of their update or revision.

Basic principles for trading:

Certified Makers on the platform must strictly adhere to the basic principles of honest and fair trading, including prompt payment, fast release crypto, no malicious order holding, no malicious order placement, and no arbitrary order cancellation.

Essential qualities required for trading:

  1. Be responsible for your own orders. Confirm the order price and quantity before publishing. When leaving the operating device, promptly pause or cancel orders.
  2. Be familiar with the transfer regulations of various banks and efficiently complete transfers within the valid order time.
  3. After receiving payment from the buyer, promptly verify the amount and real-name information, and quickly release crypto.
  4. It is prohibited to attempt to 'test' accounts, such as by sending small amounts to others' receiving accounts without their consent.
  5. If necessary, you may submit an order dispute. Malicious disputes due to disagreements with counterparties are prohibited.
  6. It is prohibited to use any programs or non-manual methods for placing orders to maliciously undercut prices.
  7. Certified Makers should possess a strong service orientation and attitude, respond promptly, and use polite language.
  8. Certified Makers should respect the platform's customer service staff.

Detailed Rules for Certified Maker Management and Penalties:

Category Behavior Once 2nd (cumulative) three times (cumulative)
Non-standard payment operations 1. If a verification Maker uses a payment account inconsistent with the platform's registered name (legal person of the corporate account) to make payments. Frozen account 48-hour warning processing Freeze account for 7 days Merchant Status Revocation
2. The verification Maker collection account is not bound to the platform, and this has been verified as true. Account frozen for 48 hours. Freeze account for 72 hours Merchant Status Revocation
3. The provided payment account was incorrect, preventing the buyer from making a normal payment, and they refused to provide the correct payment account during the transaction. Freeze account for 72 hours Merchant Status Revocation /
4. Upon verification by the platform, the Maker was found to have requested the seller to use a non-personally verified account for payment. Freeze account for 24 hours Freeze account for 7 days and revoke Maker identity. /
5. After the user places an order, the Maker's payment amount is less than the actual order amount. Freeze account for 2 hours Freeze account for 24 hours Merchant Status Revocation
6. A verified Maker, after accepting a Trade order, clicks 'paid' without actually making the payment, and this is discovered through a user complaint or by customer service. Freeze account for 24 hours Account frozen for 48 hours. Merchant Status Revocation
7. If a verified Maker uses payment methods not permitted by the platform, such as checks, for Trade, and this leads to order disputes. Maker shall bear all asset losses resulting from disputes, and their Maker status shall be revoked.
8. After verification by the Platform, if the Maker did not conduct transaction in accordance with the payment method bound by the user on the Platform The Maker shall bear the loss incurred, and the account will be frozen for 48 hours.
9. Upon platform verification, if the Maker fails to fill at the actual platform price, or if they must quote and fill through private chat channels. Check out in 48 hours Freeze account for 72 hours Merchant Status Revocation
10. Maker does not add a transaction address when publishing an order for cash payment transactions. Warning 24-hour check-out Freeze account for 72 hours
Fund Security and Abnormal Account Handling 1. The platform has reasonable evidence to prove that the verified Maker directly participated in or assisted in high-risk transaction. Account will be placed on hold for 3 months, the Maker identity will be revoked, and reports will be made to relevant judicial departments as appropriate. The platform will strictly place the account on hold in accordance with the judicial letter issued by the judicial authority. When the on-hold period expires, the judicial authority must issue a renewal letter to extend the on-hold. Applications to this platform to lift the on-hold during the on-hold period are invalid. Please contact the on-hold authority for coordination.
2. If a verified Maker is confirmed by platform risk control to directly withdraw funds to a platform/individual involved in high-risk transactions, and cannot provide reasonable proof.
3. Verified Makers on the platform who frequently fill orders for individuals involved in high-risk transactions at abnormal prices, and have not verified the counterparty's purpose for buying crypto or reported it to the platform's risk control personnel. Freeze account for 3 months and revoke Maker status.
4. A verified Maker knows or can reasonably infer that the coins or funds received on other platforms/offline are from illegal sources, but still ignores the risks and directly transfers these funds/coins into other users' accounts on this platform.
5. If there is evidence confirming that the Trade counterparty's receiving account was on hold due to a payment by a verification Maker and they refuse to cooperate with the handling.
Damage the reputation or interests of the platform or other Maker 1. If the platform determines and confirms that there are acts of assisting others or using other self-owned accounts to maliciously claim platform activity benefits, or acts that harm the platform's interests and obtain improper gains, including but not limited to using self-owned accounts to maliciously brush orders and claim platform subsidies. Deduct an equivalent amount of Maker margin and revoke Maker status / /
2. If the platform determines that a certified Maker uses a secondary account or instructs others to register secondary accounts, and intentionally holds orders (or intentionally delays payment). Freeze account for 24 hours Merchant Status Revocation /
3. If the platform determines that a verified Maker is engaged in malicious price suppression by using programs or other channels to place orders. Freeze account for 24 hours Freeze account for 72 hours Merchant Status Revocation
4. The conduct of verification Maker using programs and other channels to snap up low-priced orders. Freeze account for 24 hours Freeze account for 72 hours Merchant Status Revocation
5. Any act that harms the platform's interests or maliciously damages its reputation Merchant Status Revocation / /
6. Disrespecting other users/platform staff, engaging in verbal conflicts (such as mockery or insults) or other uncivil behaviors, and continuing to do so after being stopped by customer service, which negatively impacts the OKX brand reputation. Freeze account for 24 hours Merchant Status Revocation /
Order Dispute Handling 1. After the platform intervenes in the dispute resolution, if the verified Maker is found to have provided false evidentiary materials to the platform (including but not limited to forged or altered payment proofs, chat and my trades, judicial on hold documents, case filing documents, and other evidentiary files). Freeze the account for 1 month and revoke Maker status. / /
2. When the Maker is involved in a dispute during a transaction, and is judged to be liable and required to provide corresponding compensation, but the Maker refuses to cooperate. The platform has the right to dispose of the Maker's margin and deduct your margin to compensate for relevant user losses. / /
3. If the Maker, during the transaction process, induces the user to cancel the order and posts a high-priced order, inducing the user to re-order, and this is verified by the platform as true. Freeze account for 3 months, revoke Maker status, and order Maker to return extra income within 24 hours. / /
4. If a Maker's verification payment account is not bound to the platform, but is instead sent to the user through private messages or other channels, or if the Maker asks for the user's contact information, causing disputes, and the Maker cannot provide valid proof that the primary responsibility for the problem lies with the user.

For example: If a Maker sends the payment account to a user via private message, and after the user makes payment, the Maker cannot provide chat records to prove whether the payment account sent by the Maker is consistent with the recipient account the user paid to, then the Maker shall bear the asset loss arising from the dispute.		 Maker shall bear all asset losses resulting from disputes, and their Maker status shall be revoked. / /
5. If a verification Maker transfers funds to a user using an account inconsistent with their real-name verification on the platform, and this leads to the payee's account being put on hold, the Maker must wait for the user's account to be unfrozen, after which the user will return the funds via the original route. Freeze account for 3 months and revoke Maker status. / /
6. When the Maker generates an order dispute during the transaction process, after customer service intervenes, due to the Maker's untimely response or failure to provide valid data for verification within the stipulated time. Any resulting financial losses shall be borne by the merchant, and a warning will be issued. / /
Merchant Violation and Misconduct Management 1. There are instances of using a Maker's identity to induce platform users to go to his transactions, which damages the platform's interests or reputation. Freeze account for 3 months and revoke Maker status. / /
2. There are instances of using node identities to induce platform users to re-register and open account transactions, or inducing users to add contact information which damages the platform's interests or reputation. Freeze account for 3 months and revoke Maker status. / /
3. Based on data such as your trading behavior, the platform has assessed that your transaction is suspected of maliciously canceling orders, seriously affecting the platform's user experience and harming the platform's interests. Freeze account for 3 months and revoke Maker status. / /
4. If, following a user complaint, the Maker adds the user's contact information and communicates with the user about crypto Markets, contracts transaction, etc., suspected of using lead trade to divert platform users, and the platform verifies that the situation is true. Freeze account for 3 months and revoke Maker status. / /
5. If the platform determines that the Maker is involved in violations such as guiding users to conduct offline transactions. Freeze account for 3 months and revoke Maker status. / /
6. Each peer-to-peer transaction zone can only trade its corresponding fiat currency.
For example: The peer-to-peer HKD transaction zone can only trade fiat currency HKD, and cannot trade other fiat currencies.		 Account frozen for 48 hours. Freeze account for 72 hours Merchant Status Revocation

Note: In case of any disputes arising in the Trade process, the platform customer service has the final right of arbitration.
OKX will continue to provide you with better products and higher quality services!

OKX team