Dear users,

At present, blockchain technology is still in the early stage of development and we can observe that the industry is full of various forms of hype and scams, which makes it difficult for ordinary users to distinguish. Coupled with the obscurity of new concepts, users can easily suffer asset losses.

Recently, the notice on "Further Preventing and Handling of the Risk of Speculation in Virtual Currency Trading" jointly issued by the top Chinese regulators clarified the essential attributes of virtual currency and put forward clear requirements for prevention and disposal of illegal financial activities such as trading speculation, illegal operation and financial fraud, in order to maintain financial order and social stability in China.

In order to match the regulatory policies of each user’s country of origin, imToken will restrict users in China from accessing and using the following third-party financial applications with immediate effect, including but not limited to:

  • DEX: Decentralized cryptocurrency exchange
  • Staking: Stake mining and liquidity mining
  • DeFi applications such as lending, derivatives, etc.

Using the imToken non-custodial wallet, users need to be in charge of their own private keys and understand the blockchain technology underneath, in order to safely use the innovation brought by the new technology. Within China, where digital tokens are defined as virtual commodities, users can hold tokens and use new digital experiences through the wallet, but must be careful about certain blockchain and smart contract technology, in essence speculation, fraud, pyramid schemes, money laundering and other illegal acts. We will still do our best to identify and warn potential risky applications and protect each and every user.

Tokenization, as the future of the digital world for the expression of everything, along with the digital process of mankind, will be closely related to each and every person.

The imToken team will continue to study the technology, iterate the product, and give full play to blockchain and cryptography technologies to:

  • Trusted and enforceable smart contracts to decrease the cost of trust
  • Encryption and multi-party computing to protect individual privacy data
  • Multi-factor authentication to reduce the risk of theft and fraud

imToken will continue to research technology and iterate on products to help everyone access the new digital world.

 

imToken Team

2021.9.29 SGT

 

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