| Huobi P2P Transaction Regulations (CNY Transactions Excluded) | |
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1. This Regulation will be formally implemented from the date of promulgation and will be revised or improved from time to time. The revised or improved new rule will take effect as of the date of promulgation.
5. If the buyer needs the seller to complete KYC after placing the order, please contact the other party actively and complete KYC within 30 minutes after placing the order.
The principle that the seller should follow: Note: The non-real-time payment method currently includes: From Alipay to bank card, from WeChat transfer to a bank card, single transfer for non-working hours exceeding a certain limit, etc. With the changes in the payment channels, non-real-time payment methods will be revised or improved from time to time. 5. If the advertiser as a seller, requires the buyer to complete KYC : do not display the payment method directly in the order window; if the payment method is displayed directly, it is deemed that KYC is not needed, and additional KYC is not required while the payment method is displayed.
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Users should abide by the principle of AML(anti-money laundering): |
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| For Buyer | Details |
| 1. The buyer cancels the order after created. | When the buyer cancels 3 times on the same day, the system will restrict the buyer's buying function; if the buyer cancels 3 times for 2 consecutive days, the system will further restrict some functions of the buyer's account. |
| 2. After the order is created, if the payment is not completed within the time specified in the order, the system will automatically cancel the order. | When the buyer cancels 3 times on the same day, the system will restrict the buyer's buying function; if the buyer cancels 3 times for 2 consecutive days, the system will further restrict some functions of the buyer's account. |
| 3. In the case of no payment, click 'I've paid'. | The seller has the right to request the cancellation of this order. The buyer will be complained up to 2 times on the same day, and the system will limit some functions of the buyer's account; if the single amount of such complaints exceeds equivalent to 50,000 CNY, the system will directly limit the buyer's account for 48 hours. |
| 4. In the case of no payment, click 'Appeal' for no reason or click 'Appeal' before making payment. | The seller has the right to request the cancellation of this order. The buyer will be complained up to 2 times on the same day, and the system will limit some functions of the buyer's account. |
| 5. The payment is not made according to the payment methods shown on the seller's order page. | The seller has the right to request the cancellation of the order, the digital assets are returned to the seller, and the buyer shall bear the risk of making the wrong transfer. |
| 6. The payment is not made according to the payment method provided by the seller with his real-time in the chat window. | The seller has the right to request the cancellation of the order, the digital assets are returned to the seller, and the buyer shall bear the risk of making the wrong transfer. |
| 7. In the case of no payment, click 'I've paid' before making payment. |
The seller has the right to choose to continue the order or cancel the order after refund. 1) If the seller chooses to complete the order, the seller needs to release digital assets within 10 minutes of receiving the full payment. 2) If the seller chooses to complete the order but needs additional KYC, and the buyer refuses, the seller shall refund within 30 minutes after receiving the payment. The digital assets will be returned to the seller. 3) If the seller chooses to cancel the order, the seller needs to refund within 2 hours after complaining. The digital assets will be returned to the seller. |
| 8. The payment is not made using a payment account that matches the real name of the Huobi account. |
The seller has the right to refuse to complete the order. The seller needs to refund within 48 hours of receiving the full payment from the buyer. The digital assets will be returned to the seller. |
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9. The payment is made within the payment time specified in the order, but the order is canceled. 1) The buyer has completed all payments, and the order was canceled by the buyer or the system over time. 2) The buyer has completed part of the payment, but the order is canceled by the buyer or the system over time. |
If the order is canceled by the buyer or canceled by the system of over-time, the seller has the right to choose to continue the order or refund. 1) If the seller chooses to complete the order, the order will be reopened by the platform. The seller shall complete the release of the digital assets within 10 minutes after reopening. 2) If the seller chooses to cancel the order, the seller needs to refund within 60 minutes after receiving the request of the buyer or platform. The digital assets will be returned to the seller. |
| 10. If payment is made separately, if all transfers have not been completed, click 'I've paid' before proceeding to complete the payment. |
1) Communicate with the seller, and if the seller allows, the seller shall continue to complete the order. If the seller chooses to continue the order, the seller shall release the digital assets within 10 minutes after receiving the full payment. 2) Without communication with the seller, the seller has the right to choose to continue the order or cancel the order after a refund. If the seller chooses to cancel, the seller shall refund within 30 minutes after receiving the payment. The digital assets will be returned to the seller. |
| 11. The payment amount does not match the order amount. |
1) If the buyer paid more than the order amount and the seller released digital assets, the seller shall refund the excess amount within 30 minutes after receiving the payment. If the seller chooses to continue the order, he has the right to complete the order according to the actual amount. 2) If the buyer paid less than the order amount and the seller released digital assets, the seller has the right to choose to continue the order or cancel the order after refund. If the seller chooses to cancel the order, the seller needs to refund within 30 minutes after receiving the payment. The digital assets will be returned to the seller. |
| 12. After the buyer clicks 'I've paid', the seller has not received the payment within 2 hours. |
Unless the buyer and the seller make an agreement with the payment method in advance, the seller has the right to choose to continue the order or cancel the order after refund. 1) If the seller chooses to continue the order, the seller shall complete the release of the digital assets within 10 minutes after receiving the payment. 2) If the seller chooses to cancel the order, the seller needs to refund within 30 minutes after receiving the payment. The digital assets will be returned to the seller. |
| 13. After payment is received, the seller's payment/banking account cannot verify the real-name information. |
1) After verifying that the buyer's name of the payment account is consistent with the Huobi account, and the payment is completed within the specified time, the order is valid. 2) After verifying that the buyer's name of payment account is not consistent with the Huobi account, shall be dealt with the Item 8 above. 3) If the buyer chooses the payment methods such as ATM cash deposit or other ways in which the transferor's information cannot be verified or recognize, the buyer shall properly keep the real-name payment receipt for KYC use ( for example, send the seller a photo of the ATM payment receipt and holding ID in the chat window). |
| 14. Use non-real-time payment methods without the seller's consent to pay for the order (including but not limited to ordinary bank transfers, transfers during non-working hours such as holidays, and the amount of remittance exceeds the bank's large transfers without paying in batches), resulting in the seller Cannot receive the transfer within 2 hours. |
The seller has the right to choose to continue the order or cancel the order after refund. 2) If the seller chooses to cancel the order, the seller needs to refund within 30 minutes after receiving the payment. The digital assets will be returned to the seller. |
| 15. The seller's payment account is abnormal due to the buyer's money. |
1) If the buyer is unable to provide the proof of his account that could trade normally, the seller shall refund within 24 hours after payment account could trade normally, the order will be canceled by the platform. For example, if a Certificate Advertiser is a seller, and the amount of order is less than the security deposit, this Certificate Advertiser shall refund within 24 hours after his payment account could trade as usual. 2) If the buyer is able to provide the proof of his account that could trade normally, the seller shall release the digital assets. |
| Note: This rule involves seller refund or release, and if the seller fails to complete the operation on time, the system will restrict some functions of the seller's account. | |
| For Seller | Details |
| 1. After the order is generated, the seller has an objection to the price. | Except for the negotiate of the order price, the seller shall release the digital assets within the specified time. |
| 2. The seller's payment account is abnormal. |
The buyer has the right to choose to continue the order or cancel the order. 2) If the buyer chooses to cancel the order, the seller shall refund, the digital assets will be returned to the seller. |
| 3. The buyer is unable to complete the transfer due to the seller wasn't provide the effective payment account, resulting in the cancellation of the order. |
The platform will cancel the order and punish the seller. The cancellation times of the buyer won't be counted if it is made by the seller. The seller has been complained 2 times because of this kind of behavior, the system will restrict some functions of the seller's account. |
| 4. The seller's (not the Advertiser) payment account of the Huobi account is not consistent with his real name or provides the non-real-name to the buyer. Eg: The seller binds an Alipay QRcode which its name is not consistent with the seller's name shown on the order page. |
1) The buyer has the right to cancel the order and complain about the seller. The seller will be complained up to 3 times, the system will permanently freeze the seller's account. 2) If the buyer chooses to continue the order, the buyer shall bear the risk of making the wrong transfer. |
| 5. The buyer's name of the payment account is not consistent with the Huobi account, the seller doesn't refuse to complete the order. |
1) If the seller chooses to continue the order, the seller shall bear the risk of this order. 2) The platform will restrict some functions of the seller's account if there is any complaint. |
| 6. The buyer clicks 'I've paid' after full payment, and the seller doesn't release the digital assets within 20 minutes after receiving the full payment. |
1) If the buyer chooses to continue the order, the platform will release the digital assets to the buyer. For example, if the buyer click 'Complain' after complete the full payment which makes the seller cannot release and contact the buyer. 2) If the buyer chooses to refund and cancel the order, the seller shall refund within 30 minutes. |
| 7. The buyer clicks 'I've paid' after full payment, and the seller doesn't release the digital assets within 20 minutes and click 'Complain' after receiving the full payment. |
1) If the buyer chooses to continue the order, the platform will release the digital assets to the buyer. 2) If the buyer chooses to refund and cancel the order, the seller shall refund within 30 minutes. |
| Risk Control | Details |
| 1. When the user is detected abnormal by the risk control system, the user explicitly refuses or does not actively cooperate with the completion of the platform risk control requirements for further Anti-money Laundering verification. | The platform will have the right to directly determine that this account is abnormal, including but not limited to raising the user's risk level, directly freezing the accounts of such users and related accounts until the risk control evidence provided by the user has passed the risk control review of the platform. |
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2. When the user is verified by the platform's risk control to be suspected of fraud (or attempted fraud), withdraw digital assets to various high-risk platforms (including but not limited to: Ponzi fraud platform, online gambling platform, suspected money laundering fraud platform or other low-risk control capability platform) or other high-risk asset transfers. Risk warning: All the publicity related to Huobi and such platforms is false publicity, beware of being deceived, and causing unnecessary property loss. |
The platform will have the right to choose to directly freeze or restrict Fiat transactions, withdrawals of such users and related accounts, and even disable all account permissions as appropriate. |
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3. The account is not used by the beneficiary or illegally bought digital assets for others: when the user is verified by the platform's risk control system that the account is sold, loaned, or leased for use by others, or there is an act of illegally buying digital assets for others. Risk warning: Please pay attention to your own information security to avoid being used by others to commit criminal acts. |
The platform will have the right to choose to directly freeze or restrict Fiat transactions, withdrawals of such users and related accounts, and even disable all account permissions as appropriate. |
| 4. Use other users on Huobi to test a card: The user transfers a small amount of money to other users when the order has not occurred, and can not reasonably explain the behavior. | The platform will have the right to choose to directly freeze or restrict Fiat transactions, withdrawals of such users and related accounts, and even disable all account permissions as appropriate. |
| 5. Receiving or introducing digital assets or funds from illegal sources: When the user knows or inferred based on reasonable common sense that the money received on other platforms/communities is black money or the digital asset are black assets, but still ignore the risk and directly send the black digital assets/money into the accounts of other users of Huobi. | The platform will directly and permanently restrict all functions of such users' accounts and related accounts. |
| 6. Users verified as money laundering: When the user is detected by the risk control system/staff, the user directly participates in or assists in criminal activities such as money laundering. | The platform will directly and permanently restrict all functions of such users' accounts and related accounts. |
| 7. Frozen by the law: When the user's account is frozen by the judicial institution. | The platform will strictly freeze user accounts in accordance with the judicial document. When the freeze period expires, the judiciary needs to present a renewal document to continue to freeze. During the freezing period, the user's application to the platform for unfreezing is invalid, please contact the freezing organization for coordination. |
| 8. Information retrieved by the judiciary: The user is requested by the judiciary to retrieve the account information of the platform, including but not limited to: judicial verification, consultation, and other forms. | The platform will restrict some functions of such users' accounts and related accounts as appropriate. |
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