1. Purpose and Basis
Money laundering seriously endangers the development of digital asset trading, promotes corruption, damages user rights, and increases the legal and operational risks for trading platforms. 100X has developed this guide to prevent money laundering (ML) and terrorist financing (TF) and to fully comply with AML and CTF laws and regulations.
2. Scope of Application
This guide applies to all registered users of 100X platform (hereinafter referred to as "the platform").
Users must comply with AML and CTF laws in their respective countries or regions.
If stricter regulations exist in a user’s location, they must follow those requirements.
3. Definition of AML and CTF
AML and CTF measures prevent criminals from using the platform to conceal the source and nature of illicit funds, including but not limited to:
Drug-related crimes
Organized crime activities
Terrorist financing
Smuggling crimes
Corruption and bribery
Financial fraud
Disrupting financial order
100X takes appropriate measures in accordance with laws and regulations to prevent these activities.
4. Fundamental AML Principles
100X applies the following risk control principles:
Comprehensiveness – Assess all potential ML/TF risk factors and implement reasonable monitoring.
Prudence – Strengthen customer identification to ensure the legitimacy of funds.
Continuity – Continuously monitor user activity and adjust measures as needed.
Confidentiality – User identity and transaction information are kept strictly confidential and will only be disclosed per legal or regulatory requirements.
Tiered Management –
Regularly review customer records.
Higher-risk users undergo stricter scrutiny.
5. User Documentation Review
100X verifies customer-submitted information under its AML policies.
If discrepancies arise, 100X reserves the right to verify data with regulatory authorities.
6. Monitoring Low-Risk Users
The platform will monitor low-risk users based on AML policy and may adjust their risk level as needed.
7. Monitoring High-Risk Users
High-risk users are reviewed every 6 months, updating:
Identity verification
Fund sources & usage
Financial or business status
8. User Responsibilities
Users must comply with the following:
Do not rent, lend, or disclose account credentials;
Do not rent or lend identity documents;
Do not allow third-party access to personal accounts;
Users must cooperate with identity verification requirements.
9. Reporting Suspicious Activities
If users identify suspicious transactions related to ML or TF, they should report them to 100X.
100X complies with legal investigations and enforces penalties for non-compliant accounts.