Registration and Sign upYou can sign up quickly and easily by providing your name, email address, choosing a username and password. This will provide the opportunity to transact in crypto-currencies [up to a maximum of $120 000 HKD equivalent monthly]. Above this limit, you will need to have your identity verified (see below). Or to transact in fiat currencies you will be required to verify your account.
VerificationTo deposit or withdraw fiat currency [above the equivalent of HK$8000], or to make transactions above the equivalent of HK$120 000, we will need to verify your identity. This will require a government photo ID showing your full name and date of birth, and proof of address. Valid ID includes a national identity card, passport, driver’s license, and proof of address includes a bank statement or utility bill. If this is not in English it will need to be confirmed by a relevant authority like an accountant, lawyer, solicitor, Justice of the Peace or government body.
Wire transfers and cryptocurrency remittancesWhen an account is verified, and a fiat transaction is made, we will require and record certain information such as your name, account number or unique reference number, address or ID number, date and place of birth, to meet international wire transfer and remittance requirements. We may refuse or cancel the transaction if the information is insufficient or cannot be obtained.
Monitoring and ReviewWe operate procedures to monitor ongoing customer activity and may seek further information where transactions appear unusual, irregular, or suspicious.
Account Suspension and CancellationWe may suspend access to any or all services, or cancel an account at any time at our discretion and without liability or disclosing the reason. We will notify you after exercising rights under this clause. This may occur where required by law or directed by relevant authorities, or if we reasonably suspect use of the account for illegal activities, or actions not in good faith, such as attempts to abuse the platform or circumvent controls.
Record KeepingWe will retain and store securely transaction records for six years, and identification information and correspondence for six years after our relationship ceases, as required by law or relevant authority.
Use of an Intermediary, Third Party or Service ProviderWe may carry out KYC and CDD or banking services by means of a licensed intermediary, third party or service provider, in an equivalent jurisdiction who will be subject to the same standards and obligations as Bitspark in Hong Kong, ie Financial Action Task Force (FATF) standards.
Tax ObligationsIt is a user’s sole responsibility to determine whether and to what extent, depending upon their location, any taxes apply to crypto-currency transactions conducted through Bitspark, and to report and remit the appropriate amount of tax to relevant authorities. A transaction history is available in each account to assist with this.