Exchange Binance DEX will be able to confiscate the assets of clients

Exchange Binance DEX will be able to confiscate the assets of clients

The company now has the right to withdraw cryptocurrency users to restrict access to the account and give information to law enforcement agencies

A decentralized market Binance DEX can block the accounts of clients transfer information to law enforcement and confiscation of assets. It is written in the terms of service, trade which began in the afternoon of 25 April.

The company warns that the site cannot be used to violate the law, otherwise certain measures would be taken. Also in capital letters, the exchange provides that customers are personally responsible for any losses arising out of their wallets.

“If Binance finds that you engaged in prohibited activities through its website, in its sole and absolute discretion Binance can respond to it with appropriate measures. These sanctions include informing the police or other authorities, making proposals to the management of Binance Chain (validators and the community) the forfeiture of any digital token obtained as a result of prohibited activity, and restriction of the access of your account to the services of the site”, — reported in the rules Binance DEX.

After the issue began to be discussed in the network, Binance slightly changed the rules under which assets may be confiscated by the authorities. On this principle worked the other blockchain EOS associated with a multitude of locking accounts.

Trading on the decentralized exchange was launched in tandem with Binance Mithrill Coin. The company stressed that its own token on the new blockchain can release anyone, add it to the site will be held in four stages — proposal, a Deposit, voting, and listing.

After the first phase, the Issuer needs to make a Deposit of 1000 BNB ($22 900 at the average market rate for the moment). Then at least half of the validators must approve the offer, whereupon the Deposit will be refunded. In the listing process, you will need to pay a Commission BNB in 2000 ($25 800).

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