“Our compliance policy includes fighting financial crime by adopting a comprehensive program to detect and prevent our products and services from being misused for the purposes of fraud, corruption, money laundering, or terrorism financing.
We will not provide any product or service to any entities that are the subject of sanctions or connected to sanctioned jurisdictions. We continuously strengthen our compliance program to maintain the highest standards of compliance; this remains a top priority.”
Trust and Transparency are important to bitcoinpenguin because bitcoinpenguin believes that every user deserves safe, secure, and fair markets.
Under the bitcoinpenguin Terms of Service, users are prohibited from being involved in or initiating any form of market manipulation.
This guidance clarifies some of the behaviours that bitcoinpenguin considers would constitute market manipulation (but is not an exhaustive list).
Surveillance is undertaken by bitcoinpenguin on all trading activities to detect and mitigate any abusive behaviours.
If bitcoinpenguin discovers any potential market manipulation, bitcoinpenguin will take further action. These actions may result in enquiries and warnings, and may ultimately lead to banning of accounts in severe or repetitive cases.
To ensure an equitable trading environment, bitcoinpenguin monitors for signs of market abuse. bitcoinpenguin considers market abuse as including the following behaviours:
A type of trading that occurs on the basis of inside information. This information is of a precise nature about any product being traded which has not been made public.
A type of trading in which one person accommodates another by entering into a non-competitive purchase or sale order. Accommodation trades often happen when two persons are participating in off-market trading e.g. pre-arranged trades.
A type of trading which gives a false impression of a price move or the liquidity of any product being traded. A few common examples are wash trades, spoofing, layering, and quote stuffing.
When a person tries to move the price of a product in a particular direction by giving false information using electronic or other media.