Risk Warning Policy

1. GENERAL PROVISIONS

1.1. This Risk Warning Regulation (hereinafter referred to as the “Regulation”) has been developed in accordance with the legislation of the Republic of Uzbekistan, including the Internal Control Rules on Combating the Legalization of Proceeds from Crime, Financing of Terrorism, and Financing of the Proliferation of Weapons of Mass Destruction for persons engaged in activities in the field of crypto-asset circulation, the Rules for Trading Crypto-Assets on a Crypto-Exchange, and other regulatory legal acts governing activities in the field of crypto-asset circulation. 

1.2. The purpose of this Regulation is to inform clients of the crypto-exchange (hereinafter referred to as the “Clients”) about the risks associated with investing in crypto-assets and conducting transactions with them.

1.3. The crypto-exchange shall familiarize all Clients with this Regulation before entering into a service agreement and participating in crypto-asset trading. Familiarization with the Regulation may be carried out both in writing and by posting it on the official website of the crypto-exchange.

1.4. Before starting to use the services of the crypto-exchange, the Client shall review this Regulation and confirm such review in the manner established by the crypto-exchange.

1.5. This Regulation uses the terms and definitions established by the legislation of the Republic of Uzbekistan governing activities in the field of crypto-asset circulation.

2. RISK WARNING

2.1. The crypto-exchange hereby informs Clients that investing in crypto-assets and conducting transactions with them involves a high level of risk, which may result in the loss of part or all of the invested funds. 

2.2. The Client should carefully assess their financial situation and thoroughly weigh all risks associated with crypto-asset transactions before deciding to participate in crypto-asset trading.

2.3. The choice of crypto-assets as an acquisition object, and accordingly the consequences of such choice, is the risk of the purchaser themselves.

2.4. The crypto-exchange does not guarantee the profitability of investments in crypto-assets, and past results do not guarantee future returns.

3. TYPES OF RISKS

The crypto-exchange notifies Clients of the following main types of risks associated with crypto-asset transactions:

3.1. Price Risk

3.1.1. The crypto-asset market is characterized by high volatility, which means significant and sharp fluctuations in crypto-asset prices. 

3.1.2. The value of crypto-assets may change significantly within a short period of time, both upward and downward.

3.1.3. The Client may lose part or all of the invested funds due to an adverse change in the price of crypto-assets. 

3.2. Market Risk

3.2.1. The market value of crypto-assets may depend on various factors, including but not limited to:

• Global economic events;

• Changes in the regulatory environment;

• Technological changes;

• Actions of major market participants;

• Speculative interest and public opinion.

3.2.2. The above factors may lead to significant and unexpected changes in the value of crypto-assets and, as a result, to investment losses.

3.3. Liquidity Risk

3.3.1. Under certain market conditions, the Client may experience difficulties in buying or selling crypto-assets due to the absence of a sufficient number of matching orders.

3.3.2. Low liquidity may lead to a significant difference between the purchase and sale price, which may result in financial losses.

3.4. Technological Risk

3.4.1. Transactions with crypto-assets are carried out using complex technological systems that may be subject to technical failures, delays, or cyberattacks

3.4.2. There is a risk of losing access to a crypto-wallet due to loss of private keys, passwords, or as a result of hacking attacks.

3.4.3. Crypto-assets may be subject to vulnerabilities in software code that may lead to their loss or decrease in value.

3.5. Regulatory Change Risk

3.5.1. Legislation in the field of crypto-asset circulation regulation is still developing and may change significantly.

3.5.2. Changes in legislation may include the introduction of restrictions, prohibitions, or additional requirements for transactions with crypto-assets, which may negatively affect their value and the possibility of conducting transactions with them.

3.6. Market Manipulation Risk

3.6.1. The crypto-asset market may be subject to price manipulation, meaning the performance of actions that have a significant impact on the demand and/or supply of crypto-assets, the market price of crypto-assets, or the trading volume for the purpose of artificially inflating or deflating prices relative to the level formed under market conditions. 

3.6.2. Price manipulation may lead to an inadequate valuation of crypto-assets and, as a result, to financial losses for Clients.

3.7. Risk Related to Asset-Backed Tokens

3.7.1. There is a risk that the person who carried out the initial placement of asset-backed tokens may fail to fulfill their obligations regarding their repurchase.

3.7.2. Tangible or other property serving as collateral for tokens may lose its value or be lost, which may result in the inability to fulfill obligations under asset-backed tokens.

3.8. Risk Related to Non-Fungible Tokens (NFTs)

3.8.1. The value of non-fungible tokens may be subjective and may fluctuate significantly depending on demand and interest in a specific digital asset.

3.8.2. There is a risk of loss of value of non-fungible tokens due to changes in market preferences or other factors.

3.9. Tax Risks

3.9.1. The tax regime applicable to crypto-asset transactions may change, which may result in additional tax obligations for Clients.

3.9.2. Clients bear sole responsibility for compliance with tax legislation when conducting transactions with crypto-assets.

3.10. Borrowed Funds Risk

3.10.1. The use of borrowed funds (including margin trading) for crypto-asset transactions significantly increases the level of risk and may result in losses exceeding the initial investment.

3.10.2. The crypto-exchange recommends refraining from using borrowed funds for crypto-asset transactions.

4. SPECIFIC FEATURES OF CRYPTO-ASSET TRANSACTIONS

4.1. Crypto-assets are not legal tender and are not backed or guaranteed by the state, except for stable tokens whose value is pegged to the nominal value of a foreign currency.

4.2. Transactions with crypto-assets are not protected by deposit insurance systems or other protection mechanisms applicable to traditional financial instruments. 

4.3. Transactions with crypto-assets may be irreversible, and in the event of an erroneous transfer of crypto-assets to an incorrect address, the return of such crypto-assets may be impossible.

4.4. Within the territory of the Republic of Uzbekistan, it is prohibited to conduct transactions for the purchase and sale of crypto-assets for national and/or foreign currency, as well as the exchange of crypto-assets for other crypto-assets, outside service providers, except in cases provided for by law.

5. LIMITATION OF LIABILITY OF THE CRYPTO-EXCHANGE

5.1. The crypto-exchange shall not be liable for losses incurred by the Client as a result of making independent investment decisions.

5.2. The crypto-exchange gives no guarantees regarding the future value of crypto-assets and assumes no obligations to ensure any specific level of return on investments in crypto-assets.

5.3. The crypto-exchange does not provide Clients with investment, tax, legal, or other advice. The information provided by the crypto-exchange does not constitute a recommendation for action.

5.4. The crypto-exchange shall not be liable for the actions of third parties, including but not limited to persons who created and placed crypto-assets.

5.5. The crypto-exchange shall not be liable for the inability to conduct transactions with crypto-assets due to technical failures, force majeure circumstances, or actions of government authorities.

6. RECOMMENDATIONS TO CLIENTS

6.1. The crypto-exchange recommends that Clients:

6.1.1. Invest in crypto-assets only funds whose loss will not lead to critical financial consequences. 

6.1.2. Carefully study information about crypto-assets before acquiring them, including the “White paper” declaration, if available.

6.1.3. Diversify investments and not place all funds in one type of crypto-asset.

6.1.4. Exercise caution when granting access to their accounts and crypto-wallets, and use strong passwords and two-factor authentication.

6.1.5. Regularly create backup copies of information on crypto-wallets and private keys.

6.1.6. Contact the crypto-exchange if questions or problems arise related to the use of its services.

7. FINAL PROVISIONS

7.1. This Regulation does not constitute an exhaustive list of all risks associated with crypto-asset transactions and may be supplemented or amended unilaterally by the crypto-exchange.

7.2. The Client confirms that they have reviewed the contents of this Regulation, fully understand and accept all risks associated with crypto-asset transactions.

7.3. This Regulation is an integral part of the service agreement concluded between the crypto-exchange and the Client.

7.4. This Regulation shall enter into force from the moment of its approval by the head of the crypto-exchange and shall remain effective until revoked or replaced by a new regulation.

7.5. The text of this Regulation shall be posted on the official website of the crypto-exchange with open access.

This document is the intellectual property of JSC «ASTERIUM». Any copying, distribution, or use of this document in whole or in part without the written permission of JSC «ASTERIUM» is prohibited and punishable by law.

© JSC «ASTERIUM», 2026.