2023-11-14

Pursuant to the Anti-Money Laundering Act B.E. 2542 and the Counter Terrorism and Proliferation of Weapon of Mass Destruction Financing Act B.E. 2559, as amended, Gulf Binance Co., Ltd. has stipulated the onboarding process as follows:

1. Register with email and password, and confirm the registration with OTP;

2. Collect your identity information to verify with the government database;

3. Conduct face comparison to confirm your identity verification;

4. Verify via NDID;

5. Collect other necessary information, e.g. working information, income and objective for using our services;

6. Pass the suitability test and knowledge test on digital asset as required by the SEC.

After you have finished the above onboarding process, we will consider and approve your account according to our internal policy. Once approved, you will receive the starting status as KYC standard and will be subject to the following usage conditions:

1. Fiat Deposit & Withdrawal

   1. Fiat Deposit: not exceeding THB 2 million / day

   2. Fiat Withdrawal: not exceeding THB 2 million / day

2. Crypto Deposit & Withdrawal

   1. Crypto Deposit: No limit

   2. Crypto Withdrawal: not exceeding the equivalent value of THB 2 million / day

Provided that, you may request for a higher limit by contacting our Customer Services via Live Chat and follow the instructions.

Information Disclosure

1. For our digital assets brokerage services, we have connected with the following sourced digital asset exchanges namely:

• BN KZ Technologies Limited, which is an entity incorporated in Kazakhstan and regulated by The Astana Financial Services Authority (AFSA) with license number of AFSA-G-LA-2022-0009. Our selection criteria was primarily based on the “Duty of Best Execution” principle. The website of this sourced digital asset exchange is https://www.binance.com/en-KZ; and 

• Binance FZE is a free zone establishment, registered with the Dubai World Trade Centre (registration number 1693) and regulated by the Dubai Virtual Assets Regulatory Authority. Our selection Criteria was primarily based on the “Duty of Best Execution” principle. The website of this sourced digital asset exchange is https://www.binance.com/en-AE. 

Nevertheless, although we and BN KZ Technologies Ltd. and Binance FZE are both the affiliates under the Binance group, however, we assure you that (1) we and BN KZ Technologies Ltd. and Binance FZE do not have any relationship as a cross-shareholding between each other, and (2) our management team (i.e. directors and management team) and the management team of BN KZ Technologies Ltd. and Binance FZE are different persons and do not have any reporting line among each other.

2. We will be keeping your digital assets with the offshore custodian, i.e. Bifinity UAB, which is an entity incorporated in Lithuania and is a Depository Virtual Currency Wallet Operator under the supervision of The Ministry of Interior of the Republic of Lithuania. Their website is https://www.ceffu.com

Risk Warning

2023-11-14

Please read and understand before accept applying our services

(1) Investment in cryptocurrency is highly risky; you should study and understand cryptocurrency risks thoroughly because you may lose your entire investment.

(2) The value of digital assets is not guaranteed by any institution, and it cannot be legally used for debt payment.

(3) The price of digital assets is highly volatile, and it can be reduced lower than the purchasing price. Therefore, when you agree to trade digital assets, you should accept the risk incurred from the change of digital assets price, which may result in a loss for you. 

(4) The issuance and offering of cryptocurrency is not regulated by the laws of Thailand, and its price is highly volatile without any fundamentals. Investors may lose the entire investment.

(5) We cannot guarantee any risk in relation to the digital asset price changing nor other reasons beyond our control. Therefore, you should study the information about your investment in digital assets before investing.

(6) You may check our financial status from our financial statement which we disclose on our website. In addition, you should consider other factors, such as our service quality or our complaint management before deciding to use our services.

(7) We are not a financial institution pursuant to the Deposit Protection Agency laws, and any deposit of fiat or digital asset with us is not protected by the Deposit Protection Agency laws. Hence, in the case where there is any damage to your asset being kept with us, you may not be able to fully retrieve such asset from us immediately. 

(8) You may manage the risk in relation to digital assets safekeeping by keeping them with us only the amounts necessary for your usage, and you may keep the rest in your personal digital asset wallet. Before transacting, you should study how to use each type of the digital asset wallets, as well as how to keep or store the private key and passport etc.