Direct Honest Safe International Exchange FZE
This Risk Disclosure Statement outlines a non-exhaustive list of risks which may be associated with the Services we offer, relating in particular to entering into Transactions. In this Risk Disclosure Statement, references to "DHS" or "we", "us" or "our" means DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE Virtual Assets L.L.C.
This Risk Disclosure Statement does not set out all risks arising in relation to the Investments and Services we may offer, and should not be relied upon as doing so. The risks applicable to any particular Investment or Service will depend on your particular circumstances and the terms of the relevant transaction.
You should not deal in any Investment unless you understand the nature of the product you are dealing in (or a contract you are entering into), the extent of your exposure to risk, and unless you are satisfied that the product is appropriate for you.
You should consider carefully whether or not any product is suitable for you in light of your circumstances and financial position, and if in any doubt, seek professional advice.
All financial products involve a degree of risk, and even strategies considered low-risk carry inherent uncertainty. Investment prices can fluctuate, and there is a possibility that you may lose some or all of your invested capital. In certain circumstances, losses may exceed the amount of your original investment.
The specific risks associated with any financial product depend on multiple factors, including the nature of the asset and the circumstances of the parties involved. Investment risk varies according to the type of investment, the level of diversification or concentration within a portfolio, and the complexity of the transaction.
The value of an investment is influenced by fluctuations in financial markets and current market conditions. Past performance, simulated past performance, or forecasts are not reliable indicators of future results.
Potential risks that may impact your investment include, but are not limited to:
These risks may occur simultaneously and unpredictably affect the value of your investment. This Risk Disclosure Statement does not cover all possible risks. You should carefully consider all additional information provided to you in connection with your investment to fully understand your exposure.
Risks arising generally in relation to Investments include:
The price of an Investment and its disinvestment risk may each be affected by factors relating to wider market conditions, both positive and negative, and such market conditions will affect each Investment differently.
Investments may be affected by impediments to disinvestment, (e.g., Investments may prove illiquid or difficult to sell and/or may be difficult to sell at a price equal to or greater than the transaction price at the point in time that you wish to sell).
The transactions you enter into with us will be executed on regulated exchanges. On-exchange transactions occur within a centralized marketplace that provides transparency, standardized contract terms, and regulatory oversight. This structure typically offers greater protection and reduces certain risks compared to over-the-counter (OTC) transactions, which are conducted directly between parties without the oversight of an exchange. OTC transactions may expose you to additional risks, including counterparty risk, lack of transparency, and less favorable pricing. You should carefully consider these risks before engaging in OTC transactions.
Leverage allows you to control a larger position with a smaller amount of capital. While leverage can amplify gains, it can also magnify losses, potentially exceeding your initial investment. You should fully understand how leverage works and the risks involved before using it in your transactions.
Trading on margin involves borrowing funds to increase your position size. While this can increase potential returns, it also increases risk. If the market moves against your position, you may be required to deposit additional funds or liquidate your position at a loss. Failure to meet margin calls can result in the forced sale of your assets.
You may be required to transfer Collateral to us on demand, in such amounts and types as we may require in our absolute discretion, which may be in the form of cash or Digital Assets as specified by us prior to the entry into a Transaction and from time to time during the term of a Transaction. Collateral may be required in relation to any Transaction, whether entered under the Terms of Business or any Trading Agreement.
We reserve the right to vary the amount and type of Collateral required at our sole and absolute discretion. You are responsible for ensuring arrangements are in place to deal at all times with calls for further and/or replacement Collateral to be transferred, including sourcing Collateral of the type we require to be delivered (in the event you do not already hold such Collateral at the relevant time).
Any Collateral which is paid or delivered to us will be by way of outright transfer of ownership and will not be held by us in an account on your behalf and our only obligation to you in relation to such Collateral will be a contractual obligation to return an equivalent amount or asset if we decide such Collateral is no longer required. As such, you will not enjoy the same protections in relation to the Collateral that you would otherwise have enjoyed had the Collateral been placed in an account held with a third party. This creates the risk that, in the event we were subject to insolvency proceedings, you may not recover some or all of any Collateral that we were due to return to you.
Allowing for only the partial collateralisation of a position (for example, in relation to contracts for difference) creates leverage and this can work for you or against you. A small price movement in your favour can result in a high return on the Collateral transferred to us in relation to the contract for difference but conversely a small price movement against you may result in substantial losses.
Entering into transactions involving foreign exchange exposes you to the risk of adverse fluctuations in currency exchange rates. Foreign currency exchange rates can be highly volatile and are influenced by a wide range of economic, political, and social factors relating to the countries whose currencies are being traded. Changes in exchange rates can have either a positive or negative impact on the gains or losses resulting from such transactions. The profit or loss on foreign currency-denominated contracts—whether traded domestically or internationally—may be affected by currency conversion requirements, depending on the nature of the instrument and the currencies involved. By engaging in foreign exchange transactions, you assume the risk that exchange rates may change significantly, including in cases of currency devaluation. Additionally, the relevant governmental or monetary authorities may impose or modify exchange controls or restrictions that could adversely affect currency values and your ability to convert or repatriate funds. It is important to recognize that exchange controls have been imposed historically by certain authorities and may be reinstated or changed in the future, potentially impacting your investment and exposure to foreign exchange risk.
Digital Assets are a new and evolving asset class and are part of a new and rapidly evolving industry that is subject to a high degree of uncertainty. The characteristics of particular Digital Assets within the "class" may differ significantly, and the investment characteristics of Digital Assets as an asset class differ from those of traditional currencies, securities and commodities. Digital Assets present a constantly changing environment in which the associated risks are also constantly changing. Accordingly, the risks described herein, which may become outdated, are only a brief summary of certain aspects of the risks associated with investing in Digital Assets and are not exhaustive.
The price of a Digital Asset is fundamentally determined by the market's perception of its value and is highly susceptible to changes in investor sentiment, making these assets potentially very volatile. You should be aware that Digital Assets can experience rapid and substantial price fluctuations, which may lead to significant losses—including the complete loss of your investment and, in some cases, losses exceeding the initial value invested. Unlike traditional currencies or financial instruments, most Digital Assets are not backed by a central bank, governmental entity, international organization, physical assets, or other forms of credit, although certain Digital Assets may have limited backing by tangible assets. Many Digital Assets lack inherent value; their prices depend largely on the confidence and demand of market participants. Consequently, any shift in investor confidence can materially affect their valuation. Digital Assets may also exhibit momentum pricing driven by speculative expectations of future price appreciation. This phenomenon, common in growth stocks and similar assets, reflects valuations based on anticipated future gains. Speculation fueled by momentum pricing can amplify volatility in Digital Asset markets, causing prices to fluctuate more dramatically in response to changing investor sentiment. As a result, Digital Assets carry a heightened risk of price instability, and investors should be prepared for significant and sudden changes in value that may affect both short-term and long-term investment outcomes.
It may prove difficult to determine the value of a given Digital Asset from time to time, due to price volatility and the fragmentation of the Digital Asset markets. Published Digital Asset prices may deviate significantly between different exchanges and other market venues as a result of liquidity imbalances, and weighted average prices may not provide an accurate representation of value. We do not guarantee that the price we provide in respect of any Digital Asset will be better than the price available from another exchange or market venue.
Liquidity risk exists when particular investments are difficult to purchase or sell, possibly preventing you from selling out of these illiquid investments at an advantageous price, or at all. Thin markets can also amplify volatility and cause significant delays in executing trades. Any markets for these investments can be expected to involve wider price spreads and more sensitivity to buying and selling pressures than is found in more active markets. Illiquidity can be caused by various factors, including but not limited to market conditions, regulatory actions, technological issues, or other unforeseen circumstances. Illiquidity may impact the ability to open or close positions, leading to potential losses or delays in accessing funds.
Digital Assets may be illiquid investments that are not easily and readily convertible into flat currencies, and some Digital Asset markets may be thinner than others.
Digital Assets carry heightened cybersecurity risks compared to many other asset classes. These risks extend to associated digital wallets, spot exchanges, and the underlying blockchain technology, including vulnerabilities to hacking and the potential that publicly distributed ledgers may not be fully immutable.
A cybersecurity incident—whether a major breach or a minor event—could lead to immediate, substantial, and irreversible losses for market participants, including you and your Digital Asset holdings. Even smaller cybersecurity events are likely to exert downward pressure on the affected Digital Asset's price and may also negatively influence the prices of other Digital Assets.
Digital Assets are also susceptible to fraud, manipulation, and theft, which occur not only through hacking but via various targeted schemes and fraudulent activities. In many cases, legal protections available for traditional assets may be limited or unavailable in these circumstances.
Further risks may arise from the design or operation of smart contracts and decentralized finance ("DeFi") applications. Such risks include vulnerabilities that do not necessarily stem from bugs or flaws but from structural features of these contracts or applications. Exploitation of these features within DeFi environments can trigger complex, second-order effects that may significantly diminish the value of the Digital Assets native to the affected blockchain networks.
The realization of any of these cybersecurity risks could result in significant financial loss, increased market volatility, and other adverse consequences that may negatively impact your investment and interests in Digital Assets.
Please note that cyber risks are constantly evolving, and investors should stay informed about the latest threats and security measures in the field of digital assets.
Several Digital Assets networks operate on an open-source protocol maintained by a group of uncompensated volunteer developers. Consequently, there may be a lack of financial incentive for developers to maintain or develop the network, and the developers may lack the resources to adequately address emerging issues with the relevant Digital Asset protocol. There can be no assurance that the core developers of a Digital Asset network will continue to be involved in the network, or that new volunteer developers will emerge to replace them. To the extent that material issues arise with a Digital Asset protocol and the developers are unable or unwilling to address the issues adequately or in a timely manner, the Digital Asset may diminish in value or become worthless.
In addition, several Digital Assets rely on decentralised participants to operate the Digital Asset network through verifying transactions in Digital Assets on an ongoing basis. The failure of decentralised participants to continue to maintain a network by verifying Digital Asset transactions may result in the relevant Digital Asset losing value or becoming worthless.
Certain Digital Assets rely in whole or in part on a "proof of stake" method of generating a distributed consensus. Proof of stake algorithms do not rely on resource intensive calculations to validate transactions and create new blocks in a blockchain; instead, the validator of the next block is determined by reference to the amount of Digital Assets a user has "staked" and the amount of time it has been "staked," which generates payments to such user in additional Digital Assets. While the advantage of a "proof of stake" system is that it is far less energy intensive than a "proof of work" system, this may result in lower barriers for entry, which may allow for increased participation by malicious actors with small stakes that attempt to manipulate the blockchain or increase the risk that the Digital Asset will experience one or more forks, which could impact its value.
Founders of Digital Assets or Digital Asset networks may retain large amounts of the generated Digital Asset, which large positions may result in such founders having an effective veto or ability to control the Digital Asset or its associated blockchain network. As returns associated with staking are connected to the amount of the wealth staked, "proof of stake" systems may encourage hoarding of the Digital Asset. While there are advantages to having users "buy in" to a Digital Asset and support its development, excessive hoarding reduces the "decentralised" nature of verification of the blockchain and may impair the spread of such Digital Asset, including interfering with the widespread adoption of such Digital Assets for use in transactions.
Digital Asset balances are generally maintained as an address on the blockchain and are accessed through private keys, which may be held by a market participant or a custodian. Although Digital Asset transactions are not typically private and are publicly available on a blockchain or distributed ledger, the public address does not identify the controller, owner or holder of the private key. Unlike bank and brokerage accounts, Digital Asset exchanges and custodians that hold Digital Assets do not always identify the owner. The opaque underlying or spot market may pose asset verification challenges for market participants, regulators and auditors and potentially give rise to an increased risk of manipulation and fraud.
It may be illegal, now or in the future, to own, hold, sell or use Digital Assets in one or more countries. Although currently most Digital Assets are not regulated or are lightly regulated in most countries, one or more countries may take regulatory actions in the future that severely restrict the right to acquire, own, hold, sell or use Digital Assets or to exchange Digital Assets for flat currency. Such actions may restrict your ability to hold or trade Digital Assets (directly or indirectly).
Unlike traditional securities exchanges, which operate within fixed trading hours, Digital Assets can be traded continuously—24 hours a day, 7 days a week—provided the underlying network remains operational. Most Digital Asset networks maintain near-constant availability and are supported by global cryptocurrency exchanges that operate without interruption.
Consequently, Digital Asset investments are subject to market fluctuations at all times. This continuous trading environment may create situations where rapid market movements occur outside of regular business hours, potentially limiting your ability to respond promptly to changing conditions.
Digital asset exchanges are relatively new and largely unregulated in many jurisdictions. The opaque underlying spot market and lack of regulatory oversight potentially creates a risk that a digital asset exchange may not hold sufficient digital assets and funds to satisfy its obligations to its customers and that such deficiency may not be easily identified or discovered. Many digital asset exchanges have experienced significant outages, downtime and transaction processing delays and may have a higher level of operational risk than regulated futures or securities exchanges. The same sorts of risks apply to other intermediaries, custodians and vendors used to facilitate digital assets transactions. This poses risks to the customers of such digital assets exchanges, intermediaries, custodians and vendors and may have adverse consequences for the Digital Assets that are the subject of any Transaction, and the digital assets markets more generally.
Customers who utilize third-party service providers for digital asset custody, trading, lending, staking, or other purposes may not have direct control over the digital assets held through such providers. The obligations and arrangements involved in safeguarding digital assets present unique risks and uncertainties that differ significantly from those associated with traditional asset custody.
Due to the unique characteristics of digital assets and the relative absence of well-established legal precedents, considerable legal uncertainties persist regarding the treatment of custodial arrangements in judicial proceedings arising from adverse events such as fraud, theft, loss, or bankruptcy. Furthermore, unlike traditional asset custody frameworks, regulatory oversight and compliance requirements for digital asset custodians are often limited, evolving, or inconsistently enforced. As a result, certain custodial entities may not fully adhere to applicable regulatory standards, thereby increasing the risks borne by customers.
Contractual terms with digital asset custodians—especially regarding liability—may be less favorable than those typically negotiated in respect of traditional asset custody. In disputes under such agreements, customers may find themselves in a weaker position compared to traditional custody arrangements.
Additionally, the financial institutions, exchanges, or other third-party custodians may become insolvent, potentially resulting in partial or total loss of the digital assets held on behalf of customers. In bankruptcy scenarios, digital assets held by third-party service providers might be deemed part of the bankruptcy estate, which could result in customers being classified as general unsecured creditors, thereby jeopardizing recovery of their assets.
The aforementioned risks may apply to you to the extent you engage third-party service providers in relation to digital asset custody, trading, lending, staking or other purposes, and could potentially lead to substantial losses (that we are not responsible for). They may also pose indirect risks, as we may rely on third-party service providers in relation to Digital Assets and/or Transactions from time to time.
Digital Assets are generally only controllable by the possessor of the unique private key or keys relating to the wallet in which the Digital Asset is held. These keys are typically created by and stored within software known as a "digital wallet." While each Digital Asset network may require a public key be published when used in a transaction, any private keys linked with such public key must be safeguarded and kept private in order to prevent a third party from accessing the Digital Asset held in a digital wallet. To the extent a private key is lost, destroyed or otherwise compromised and no backup of the private key is accessible, you (or any custodian acting on your behalf) will be unable to access the Digital Assets held in the related wallet and, in most cases, the private key will not be capable of being restored. The loss or destruction of a private key required to access a Digital Asset may be irreversible. Any loss of private keys relating to Digital Assets could lead to substantial losses. The risk of loss due to losses of private keys or similar methodologies of secure access is generally greater for Digital Assets than that of other asset classes, given the variations in the sophistication of access methodologies and the inherent technological designs of Digital Assets.
Digital Assets and Digital Asset networks typically involve cryptographic and other algorithmic protocols governing the issuance of Digital Assets that represent a new and rapidly evolving industry that is subject to a variety of factors that are difficult to evaluate. As Digital Asset networks continue to develop and grow, certain technical issues might be uncovered and the troubleshooting and resolution of such issues will likely require the attention and efforts of decentralised development communities. Moreover, in the past, flaws in the source code for Digital Asset networks have been exposed and exploited, including flaws that disabled some functionality for users, exposed users' personal information and/or resulted in the theft of users' Digital Assets. The cryptography underlying Digital Assets could prove to be flawed or ineffective, or developments in mathematics and/or technology, including advances in digital computing, algebraic geometry and quantum computing, could result in such cryptography becoming ineffective. In any of these circumstances, a malicious actor may be able to misappropriate your Digital Assets. Moreover, functionality of Digital Asset networks may be negatively affected such that it is no longer attractive to users, thereby reducing demand for the relevant Digital Asset.
Even if only a particular Digital Asset was affected by such circumstances, any reduction in confidence in the source code or cryptography underlying Digital Assets generally could negatively affect the demand for Digital Assets.
Often, there is no official developer or group of developers that formally controls a given Digital Asset network. Any individual can download the software that facilitates the operation of a Digital Asset network, and generally any user can make any desired modifications to such software. Such modifications in the protocol governing the Digital Asset network are proposed to users of the Digital Asset network through software downloads and upgrades. A substantial economic majority of users may need to consent to such software modifications by downloading and running the modified software in order for the proposed modifications to become part of the Digital Asset network. This process ensures that the Digital Asset network remains coherent over time. However, to the extent that the substantial economic majority of users do not accept a proposed modification to a Digital Asset network, but a material portion of the users do consent to the modification, it can create "forks" in the Digital Asset network's blockchain. Such forks create two alternative versions of the blockchain, starting from the point of the fork forward, and essentially cause the creation of two versions of the Digital Asset recorded on the blockchain. Such a fork in a blockchain typically would be addressed by community-led efforts to merge the forked blockchains, and several prior forks have been so merged. However, there can be no assurance that a fork in a blockchain will be resolved and permanent forks in blockchains have resulted.
While theoretically the "splitting" of a Digital Asset that occurs when there is a hard fork in the blockchain should result in each user owning two assets that collectively are valued at the same level as the pre-split assets, this may not always be the case. The post-fork value of Digital Assets can be volatile and unpredictable. This could result in the holder owning the same asset after the fork as before the fork, but at a lower market value. Further, one or both of the post-fork Digital Asset(s) may not be supported by an adequate amount of network participants or developers and may be vulnerable to attacks and other risks. A market participant holding a Digital Asset may also be adversely impacted if its custodian does not allow its customers to participate in a fork that creates a new product. To the extent that Digital Assets in which you invested experience a fork in their blockchains, you could experience significant losses.
Additionally, in certain circumstances forks may be deliberately created by malicious actors. In the event that a majority of the users, or processing power, associated with a Digital Asset have adopted an adverse amendment to a protocol, the investment in such Digital Asset, or the ability to trade such Digital Asset, may be materially impacted.
Additionally, in certain circumstances forks may be deliberately created by malicious actors. In the event that a majority of the users, or processing power, associated with a Digital Asset have adopted an adverse amendment to a protocol, the investment in such Digital Asset, or the ability to trade such Digital Asset, may be materially impacted.
The value and liquidity of Digital Asset markets may be influenced by new laws, regulations, policies and guidance which may vary significantly among international, federal, state and local jurisdictions and are subject to significant uncertainty. The regulatory environment for Digital Assets is constantly evolving, and new regulations or policies may materially adversely affect your ability to invest in Digital Assets. Regulation of Digital Assets may also vary significantly among international, federal, state, and local jurisdictions and is subject to a level of uncertainty. Various legislative and executive bodies in the United States and in other countries may in the future adopt laws, regulations, or guidance, or take other actions, which may severely impact the use of Digital Assets generally and the technology behind them or the means of transacting in or transferring them. Failure by you to comply with any current or future laws, rules and regulations, some of which may be subject to change, could result in a variety of adverse consequences.
Digital Asset transactions and transfers are generally irreversible without the consent and active participation from the recipient of the transaction. To the extent that any of your Digital Assets are incorrectly or fraudulently transferred, they are likely to be irretrievable. Furthermore, where Digital Assets have been lost, stolen or destroyed under circumstances rendering a party liable to you, then you may have limited recourse against the responsible party. For example, as to a particular event of loss, the only source of recovery might be limited to your custodian or, to the extent identifiable, other responsible third parties (e.g. a thief or terrorist), which may not have the financial resources (including liability insurance coverage) to satisfy a valid claim.
Stablecoins are Digital Assets that seek to minimise volatility and maintain a stable value, including by being backed by an asset or portfolio of assets, such as flat currency, or other methods, such as algorithmically controlled supply. There is a risk that the sponsor or issuer (including a smart contract) of a stablecoin does not hold the corresponding asset underlying each stablecoin in circulation and is therefore unable to fulfil one-for-one or other forms of redemptions. Alternatively, software designed to maintain the value of a stablecoin may be subject to errors, flaws, bugs or be subject to hacking or manipulation. Such risks may result in losses in the wider digital assets markets.
In addition, stablecoin issuers or sponsors (including smart contracts and their programmers) may be unregulated and may not provide transparent disclosure regarding their compliance with applicable licensing and regulatory requirements or the financial institutions that hold the underlying assets. Moreover, statements from the regulators in certain jurisdictions suggest that stablecoins may be regulated as securities in those jurisdictions, and some have initiated and settled enforcement proceedings. If a stablecoin issuer or sponsor fails to maintain required licenses to issue a stablecoin, it could subject the issuer or sponsor to regulatory enforcement and injunctive actions, such as freezing funds underlying the stablecoin. The stablecoin issuer or sponsor could also lose its relationships with banks and bank accounts where the underlying assets are deposited if it is engaged in unlicensed activities. If any of these events occur, the value of the affected stablecoins could materially decline, which could have an adverse effect on any Transaction you have entered in respect of such stablecoin.
We may, in accordance with Applicable Regulations and at our discretion, refuse to accept Instructions from you, including (but not limited to) cases where Instructions require us to make any payment or incur any liability before receipt of sufficient cleared funds from you. Similarly, we will not be obliged to settle any Transaction or make certain payments or deliveries to you until we (or our settlement agent) have received all necessary documents or cleared funds from you. We shall not be deemed to be holding property on your behalf pending settlement of a Transaction.
Neither we nor any Associate nor any of the Indemnified Parties shall be liable for any Loss arising from any act or omission in the course of or relating to the activities to which the Terms of Business or any Trading Agreement apply, subject to certain limitations. Moreover, you undertake to indemnify and hold us, our Associates (including in respect of any Associate that is a broker) and the Indemnified Parties harmless against any Loss which any of the foregoing may suffer or incur directly or indirectly in connection with or as a result of anything done or omitted to be done for the purpose of carrying out any Transaction for your account or providing any Service to you or otherwise acting on your Instructions under these Terms of Business or any Trading Agreement, subject to certain limitations. You shall also pay any penalties arising in respect of the Transactions you enter.
In the event of any failure, interruption or delay in the performance of our obligations resulting from acts, events or circumstances not reasonably within our or any Associate's control, neither we nor any Associate shall be liable or have any responsibility for any Loss whatsoever thereby incurred or suffered by you, and we shall not be obliged to take or refrain from taking any action in such circumstances.
Information provided by DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE does not constitute investment advice, financial advice, trading advice, or any other type of advice whatsoever and is presented rather as general market commentary. We shall not provide any investment advice in relation to a transaction in the form of personal recommendations or advise on the merits of buying, selling, or otherwise dealing in particular instruments and/or investments or executing particular transactions, any tax, legal or other economic consequences or any other rights or obligations attaching to such instruments, investments or transactions.
Therefore, you must rely solely on your own judgment in deciding to enter into or close a transaction and we make no assessment of the suitability of such actions for you. We give no warranty as to the performance or profitability of any transaction or investment that you may effect through us. We will not be held responsible for any investment decisions made based on the information provided by MCCOIN.
We will deal with you on the basis that you act as principal and not as agent acting on behalf of or for the benefit of a principal. Furthermore, your failure to inform us that another person or any software and/or algorithm is operating your account on your behalf may result in us terminating the agreement, voiding any transactions, undertaking or closing any open transactions.
Interest, taxes, costs, spreads, fees, and charges may be payable by you to us when you trade or on such other basis as agreed between us or as notified by us to you from time to time. These taxes, charges, costs, spreads and fees will reduce your trading net profits (if any) or increase your trading losses.
It is possible that your intended treatment of the services provided by us to you under the Terms of Business or any Trading Agreement may be challenged by tax authorities. You must seek your own tax advice as to such services which may result in adverse tax consequences to you.
While we have put in place and will maintain effective organisational and administrative arrangements with a view to taking all appropriate steps to identify and manage conflicts of interest between us and our clients and relevant third parties, conflicts of interest may nevertheless arise. You irrevocably waive any claim you may have against us or any Associate (and release us and them from all liability) in respect of any material interest or conflict that we or any Associate may have, whether or not disclosed to you.
If we cannot avoid conflicts of interest after using all reasonable efforts, we will disclose such conflicts to affected clients. Otherwise, we need not disclose to you, or any other client, the nature or extent of any interest we or any Associate may have in any Transaction or in any resulting transactions, that we may owe duties to other clients which otherwise conflict with our duties owed to you, or that we may have a relationship which gives rise to a conflict of interest, unless obliged to do so under Applicable Regulations. We shall be entitled to retain any profit or benefit arising as if no such interest, other duties or relationship existed.
By entering into any Transaction, you understand, acknowledge and agree that:
a. you have received a copy of this Risk Disclosure Statement and read and understood the nature and consequences of the risk factors described herein and have had an opportunity to raise questions and to discuss those risks with any advisors as you have deemed to be necessary or desirable;
b. the risk factors cannot disclose all the risks and other significant aspects of the Transactions to be entered into with us and thus cannot be taken as a comprehensive or exhaustive list of all possible risks;
c. you are acting on your own account and have reviewed carefully your specific financial needs and investment objectives before entering into any Transaction, and you have made your own independent decision to enter into any Transaction and as to the legality, suitability and appropriateness of any Transaction based upon your own judgment and upon advice from such advisers as you have deemed necessary or desirable;
d. you confirm that neither MCCOIN, nor any Associate of MCCOIN, is acting as a fiduciary for or an adviser to you in respect of any Transaction;
e. you are not relying on any communication (written or oral) from DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE or from any Associate of DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE as investment advice or as a recommendation to enter into any Transaction and you understand that the information and explanations of the terms of any Transaction as contained in any Confirmation shall not be considered to be investment advice or a recommendation to enter into such Transaction;
f. you understand the tax implications of any Transactions, particularly as regards to Transactions involving Digital Assets, in your jurisdiction including, without limitation, income tax, corporation tax, capital gains tax or any sales tax or value added tax and any other tax framework in place within your country of residence for tax purposes;
g. DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE assumes no responsibility for your portfolio or for any investment or Transaction which you have entered into, and any opinions, projections, estimates, forecasts and/or targets expressed in any communication (written or oral) from DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE should not be construed as or relied upon in any manner as investment, legal, tax or other advice, are provided for informational purposes only, and are subject to change without notice;
h. in the event of any inconsistency between the English version of this document and any translation, the English version will prevail and that if you are in any doubt as to the meaning of the English language version or the accuracy of any translation, you should seek independent advice before entering into any Transaction;
i. this Risk Disclosure Statement may be varied, amended or supplemented from time to time and by using the Services after any changes to the Risk Disclosure Statement is varied, amended or supplemented, your agreement to such variations, amendments or supplementation is deemed to have been given to MCCOIN;
j. no communication (written or oral) received from DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE or from any Associate of DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE shall be deemed to be an assurance or guarantee as to the expected results of any Transaction;
k. you are a professional investor, market counterparty or equivalent definition as set out under the applicable law in your country of residence/registration and you are eligible, in accordance with the applicable law, to request such information and/or be offered/avail of one or more of the products/services indicated herein;
l. you have approached DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE on your own exclusive initiative and that this approach does not come about as a result of any direct or indirect contact, solicitation, intervention, marketing and/or pre-marketing, arranging, advice, offering or placement efforts nor as result of any form of general solicitation or advertising such as media advertising or public seminars by or on behalf of DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE and its Associate;
m. to the extent you have already received any of the information, documentation above and/or any other communication concerning MCCOIN, this information, documentation, including this form and/or communication was sent to the undersigned at and after your request and otherwise only upon your own initiative;
n. the decision to avail yourself of our services/products is/will be based solely on your own due diligence and review of information and materials received/to be received at your request; and
o. if any of the above become untrue or inaccurate, you will promptly inform us in writing, acknowledging that this may cause DIRECT HONEST SAFE INTERNATIONAL EXCHANGE FZE to stop or otherwise refrain from providing you with its services/products.
