GDPR Compliance: Terms of Use and Privacy Policy Updates

, May 25, 2018

The whole business community is awaiting the General Data Protection Regulation to come into force on May 25, 2018. Before this event, which will have a large impact on European users and businesses, we would like to let you know that we also intend to stay compliant with the new regulation. So please note that our Privacy Policy and Terms of Use are also updated on May 25, 2018.

What Is GDPR?

The GDPR is the largest change in information protection regulation in the last 20 years. It is meant to change the way personal information is processed. Its main goal is to give power back to customers to control the usage of their personal data. In general, the GDPR increases the rights of users and the obligations of businesses and provides a clear explanation of what processing data means.

Terms of Use Updates

The updates to the Terms of Use mostly include minor corrections and textual specifications. However, there are two important points you should take special note of:

  • Sharing data with third parties

This involves the statement about the possibility of sharing user data with authorized third parties. This may happen to deliver the services you requested or to meet our legal obligations.

  • Information relevancy checks

This may be necessary for us to check that the provided information is correct. In this case, we will make sure that this action is actually necessary and that we ensure the safety of your data.

Privacy Policy Changes

The main changes to our Privacy Policy include the following aspects:

  • Types of personal data to be collected and how they will be used

The updated Privacy Policy provides an extended list of user data we use. We have added the details from your documents as well as information about your IP address, browser, and operating system.

  • Information processing

We have specifically indicated that we will use your information only to stay compliant with the regulations and to deliver our services. These also include money laundering avoidance and fraud prevention.

  • Sharing information with third parties

We can share your personal information with our partners, financial institutions, and contractors to be able to ensure that you receive the service you are asking for. If sharing your data is necessary, we always require our contractors to follow the same privacy policies. And we will take all the necessary measures to ensure the highest level of data security.

  • Your rights connected to your personal data

You can access, ask to update or correct your personal data by sending an email to support@cex.io. Note that to be able to change any of your personal data, we may ask you to confirm your identity before taking any action.

  • Keeping your personal data

The updated Privacy policy also indicates that we can keep your information for up to 10 years after you close an account with us. This is necessary only for regulatory compliance, and we will keep all the data securely stored.

The new policies will come into effect on May 25. If you continue using our service after this date, it will mean that you have agreed with the introduced changes.

On our side, we will do everything possible to ensure that your privacy is protected.



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