OTC Merchant Management Regulations

1. General Provisions

1. These Regulations are established to ensure platform security and standardize merchant conduct.

2. They apply to all users and entities applying for or holding OTC merchant privileges.

3. Merchants shall comply with these Regulations, platform terms, and applicable laws.

2. Merchant Eligibility Requirements

1. Complete identity verification (KYC) and provide authentic, lawful, and valid personal or business documents.

2. Pay and maintain the required security deposit.

3. Have no serious credit risks, adverse history, or illegal activities.

4. Basekx reserves the right to approve or reject merchant applications based on risk assessment.

3. Merchant Conduct Requirements

1. All transactions must be genuine; fake trades, wash trades, and self-trading are strictly prohibited.

2. Fraud is forbidden, including inducing offline transactions or using unauthorized payment accounts.

3. Merchants must process orders promptly, maintain communication, and release assets on time.

4. Quoted prices must be fair and may not be used to manipulate the market.

5. Payment accounts must be lawful, genuine, and owned by the merchant or their registered entity.

4. Platform Supervision & Merchant Obligations

1. Basekx may monitor and review merchant trading behavior.

2. Merchants must cooperate with investigations and provide necessary explanations or documents upon request.

3. Basekx may restrict transactions, freeze assets, suspend, or terminate merchant privileges based on risk assessments.

4. Merchants suspected of illegal activity will be reported to or handled in cooperation with law enforcement agencies.

5. Violations & Penalties

1. Violations include general violations, major violations, and severe violations (e.g., fraud, money laundering).

2. Penalties may include warnings, restrictions, additional deposit requirements, suspension, or permanent disqualification.

3. If losses occur, Basekx may deduct from the security deposit and pursue full compensation from the merchant.

6. Merchant Exit Mechanism

1. Merchants may exit only after completing all pending orders, resolving complaints, and fulfilling obligations.

2. The security deposit will be refunded after platform review.

3. In the case of breach, Basekx may deduct part or all of the deposit.

7. Supplementary Provisions

1. Basekx reserves the final right of interpretation for these Regulations.

2. The platform may revise and announce updates based on operational needs.

3. Continued use of OTC services constitutes acceptance of these Regulations.