These findings has created a new thought pattern for me. I would never even think that such power could be accorded to an exchange I downloaded or registered on to hold my coins.
I would have to read the user agreement from now on before joining or using an exchange, because what's the point of using a decentralized network if it isnt decentralized?
If it is controlled by other external bodies, even upon completion of my KYC verification and adherence to its functions for my benefits, why would my account be frozen without an explanation as to why?
Unless I falter, still a notification should be sent out to me the user, because it is not only such app that I have to adhere to its user agreement. I may not even remember what I read on its user agreement page nor even remember the limitations imposed to prompt such a freeze of my account. What now makes them better than using a fiat system?
Not only you. I believe most of the forum users don't know what is hiding behind their TOS Power. Their TOS is their power. I had a little conversation with o_e_l_e_o here and then I decided to create a new thread to give a warning to forum users about the TOS of Centralized exchanges. You can find it here;
Do you know what is hiding behind the Centralized exchanges User Agreement?. Guess what? A very little number of people read that and I don't think people are interested to know what is hiding behind their TOS.
Still, I hope people will search on the internet and I wish they can find my topic in one of the search results. I can scream and write TONs of words on the internet and people won't read and hear me until they suffer from the same thing. At least you read and responded here. Many people don't.