All sellers need to read about the MorphMarket's Default Store Policy that will take effect January 15, 2021. This update does not necessitate any changes to your business policies PROVIDED THAT you have overridden the Default Policy in the terms of your own custom Store Policy.
The Default Store Policy page both explains the purpose and the terms of the Default Policy.
As written there:
"This Default Store Policy defines a minimum set of expectations which will be applicable for Sellers who do not otherwise override them in their own Store Policy and/or communicate them in writing before the sale. These terms are subject to change, and it is therefore recommended that a Seller override them in their own Policy.
Note that while a custom Store Policy can and should override the following, it cannot override MorphMarket's Rules or provide immunity from the rules."
You can find and edit your own policy under the Seller Profile page.
The purpose is to provide a more uniform and predictable experience for both buyers and sellers on the site. Many sellers historically have had gaps in their store policy if it is defined at all, which creates a divergence of expectations between buyer and seller and challenges for MorphMarket in providing moderation.