Update of the Bitbon System Legal Infrastructure
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Update of the Bitbon System Legal Infrastructure

Dear Bitbon System Users,

We have conducted a global update of the Bitbon System legal infrastructure. The reason for that was the upcoming launch of One Space, a base service of the Bitbon System, which is scheduled for February 22, 2022. The One Space service ensures communication between Users and the Bitbon System infrastructure, which required an update of the regulatory documents establishing rules, roles and details of the User’s activities within the Bitbon System. In particular, the following Appendices have been added to the legal infrastructure:

  1. Appendix to the Bitbon System Public Contract “Components and Base Services of the Bitbon System”, which specifies the list of the main components and base services of the Bitbon System.
  2. Appendix to the Bitbon System Public Contract “Service Fees in the Bitbon System: the Procedure for Their Deduction and Distribution”, which specifies the terms and conditions for collection, as well as the procedure for calculation, deduction and distribution of service fees in the Bitbon System.
  3. Appendix to the Bitbon System Public Contract “One Space Base Service”, which specifies the functionality of the One Space base service.
  4. Appendix to the Bitbon System Public Contract “Funds of the Bitbon System”, which specifies the list of funds of the Bitbon System, as well as the terms and conditions and the procedure for their creation, suspension or closure, and other operating terms and conditions.
  5. Appendix to the Bitbon System Public Contract “Bitbon System Account”, which specifies operating terms and conditions of the Bitbon System Account, as well as the procedure for its use by the Bitbon System User.

The global update of the Bitbon System legal infrastructure is based on the requirement to adjust to the laws of other states. Thus, the following documents have been added:

  1. Anti-Money Laundering Policy.
  2. Privacy Policy.
  3. Cookie Policy.

In addition to the above documents, new terms have been added to the Bitbon System legal infrastructure: digital asset profile and Space ID. The following terms have been changed as well: tokenization of an initial asset, Bitbon System component, Bitbon System providing fund, Bitbon System capitalization fund. Moreover, the provision on service fees has been added to the Bitbon System Public Contract.

You can find the documents in the "Appendices to the Bitbon System Public Contract" section on the Bitbon System official website: https://www.bitbon.space/en/bitbon-system-public-contract/annexes-to-the-contract.