Regulatory status
Rules for digital assets differ between countries and change often. Bitnetex provides a custodial account for spot balances, an order book, instant swaps and staking, as described in the Terms.
The registration or licence line shown in the site footer and on account statements is the operative disclosure for this domain. If no licence is named for your country, don't assume one exists. You are responsible for whether you may use a service like this where you live.
What we are not
We are not
- A bank or deposit-taker
- Your broker, fiduciary or investment adviser
- Covered by FDIC, FSCS or a similar guarantee
- The issuer of any listed token
We do
- Hold balances and keep a full ledger
- Verify customers and screen transactions
- Review every withdrawal by hand
- Keep records as AML law requires
Anti-money-laundering programme
The programme follows the risk-based approach set out in FATF recommendations. In practice it has five parts:
- Customer due diligence
Every account registers with an email address. Identity verification (document, address, live face check) is required for VIP status and can be requested whenever activity calls for it.
- Sanctions screening
Customers and destination addresses are checked against sanctions lists. Matches are frozen and reported where the law requires.
- Transaction monitoring
Deposits and withdrawals are watched for patterns such as structuring, rapid in-and-out movement, or funds linked to theft or mixers.
- Reporting
Suspicious activity is reported to the competent authority. We are legally prohibited from telling the customer when this happens.
- Record keeping
Identification and transaction records are kept for the period AML law requires after the relationship ends.
Verification (KYC)
| Level | What you provide | What it unlocks |
|---|---|---|
| Level 1 | Email and password at sign-up | Deposit, trade, swap, staking, withdrawals with review |
| Level 2 | Name, date of birth, address, ID document, live face check | VIP fee status on swap and trade |
We can ask for verification or extra documents (for example proof of source of funds) at any point if the law or the risk of an account requires it. Until it's provided, withdrawals may be held.
Restricted and prohibited use
We refuse, delay, or freeze activity we reasonably believe involves:
- Persons or addresses on sanctions lists, or residents of comprehensively sanctioned jurisdictions.
- Proceeds of crime, fraud, ransomware or theft.
- Mixers or other services used to hide the origin of funds.
- Structuring: splitting transfers to avoid checks.
- Using an account on behalf of someone else, or accounts opened with another person's identity.
Where the law requires it, we report such activity and may be unable to explain the reason to the customer.
Travel rule
For withdrawals to other regulated platforms, we may need the name of the recipient and share originator details with the receiving platform, as required by the FATF travel rule where it applies. If the information is missing, the withdrawal can be held until it's provided.