Poloniex to stop trading during hard fork, updates terms

Poloniex to stop trading during hard fork

Poloniex has updated its terms and conditions and has added multitude of references for the forks. In the section V in Risk Disclosure Statement, Poloniex has added that “Blockchain networks may go offline as a result of bugs, hard forks, or a number of other unforeseeable reasons.”In addition to that, in Section XVI, the popular crypto currency exchange says,

Poloniex does not own or control any of the underlying software through which blockchain networks are formed and Tokens are created and transacted. In general, the underlying software for blockchain networks tends to be open source such that anyone can use, copy, modify, and distribute it. By using the Services, you acknowledge and agree (i) that Poloniex is not responsible for operation of the underlying software and networks that support Tokens and that Poloniex makes no guarantee of functionality, security, or availability of such software and networks; and (ii) that the underlying protocols are subject to sudden changes in operating rules (a/k/a “Forks”), and that such Forks may materially affect the value, function, and/or even the name of the Tokens you store in your Account. In the event of a Fork, you agree that Poloniex may temporarily suspend the Services (with or without advance notice to you) and that Poloniex may, in its sole discretion, (a) configure or reconfigure its systems or (b) decide not to support (or cease supporting) the Forked network entirely, provided, however, that you will have an opportunity to withdraw Tokens on at least one of still existent underlying networks. You acknowledge and agree that Poloniex assumes absolutely no responsibility whatsoever in respect of any underlying software protocols, whether Forked or not.

There are several other changes that are mentioned below:

* No services to people from New Hampshire, New York, Washington
* Your commentary on social media about Poloniex is now sole property of Poloniex.
* “You will not: Use a web crawler or similar technique to access our Services or to extract data”
* “.. you will not be using this site for any illegal activity, including but not limited to illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data or the financing of terrorism, or other violent activities.”
* Stop orders might not execute.
* Emphasizes that trading is risky and that you are responsible for complying with applicable law.
* “Poloniex does not allow Users to exchange Tokens for money”
* Added “unclaimed property” section
* More info about “arbitration”
* Address change
* Typos fixes
* “snow storm” is added as excuse of interruption.