Currency refund policy after June 12th, 2018.

Thank you for always using Mr. Exchange.

As previously announced on our website on March 29, 2018 and May 1, 2018, we have decided to withdraw the application for cryptocurrency exchange license in Japan. After 23:59 on Monday, June 11, 2018, we will be commencing our policy regarding IOU held by customers.

1. If you hold Mr. Exchange’s USD (USDT), Augur (REP), Monero (XMR), Zcash (ZEC) after 23:59 on Monday, June 11, 2018, we will convert the amount with market price.*1* After successfully returning the IOU to gateway, we will return the amount(after conversion) to the customer’s registered bank account in Japanese yen. *

* For Non-Japanese nationals, we will refund the amount through international bank wire transfer, or other measure which is in compliance with Act on Prevention of Transfer of Criminal Proceeds in Japan.

2. In case of too many withdrawal requests, it might take up to several days to complete the process.

3. Upon returning aforementioned cryptocurrency assets to Mr. Exchange issuer, as a precaution we need to proceed with Know Your Customer (KYC) policy. Moreover, the said procedure for each customer could vary.

*1* : Regarding the market conversion rate.
USD (USDT), we will apply exchange rate between Japanese yen and USD on Fukuoka Bank webpage at 10:30AM on June 12, 2018. (Fukuoka Bank Foreign Exchange : https://www.fukuokabank.co.jp/price/exchangerate/)
The applied rate will be TTM rate. [TTM rate = (TTS+TTB) / 2 ]

Augur (REP), Monero (XMR), Zcash (ZEC)
(1)First, to determine the “average rate” on 11th June 2018 from 00:00 to 23:59 in USD pair from Kraken, Poloniex and Bittrex*.
(2) Then multiplies the “average rate” with exchange rate between Japanese Yen (JPY) and USD from Fukuoka Bank.
* Example : How to calculate REP with conversion rate of JPY:
[REP’s final exchange rate] = [conversion rate of REP/USD] x [conversion rate of USD/JPY]
* In terms of Bittrex, it will show as opposite pair, i.e, USD/REP.

In addition, after 23:59 on Monday, June 11, 2018 if you are still holding our gateway’s currencies(IOU), including withdrawal disabled currencies, such as STR (XLM), BCH (BCC), DCT, etc, please kindly wait until we have decided the returning policy.

Simply contact us via support@mr.exchange to refund IOUs. And we will guide the refunding process.

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