Apr 23, 2019

(P3) How can we prepare for the ONE exchange and remittances?

Part 3

The Exchange will be operating on an online software platform by which users are able to:

•​Buy cryptocurrencies in return for payment in fiat currency
•​Sell cryptocurrencies in return for payment in fiat currency
•​buy and sell cryptocurrencies in return for payment in cryptocurrencies (the “Exchange”).

Modus Operational

1st Phase: non European licenses- 3: for Exchange, Remittances and Third party fund management.

All 3 licenses already released:

Operation in the country of the licenses and any unregulated country (notification to authorities is sent)

•​Bank Account opening
•​Transfer of shared capital
•​Release of license
•​Setup
•​Marketing
•​Launching the operation

2nd Phase: European license – 2: for Exchange, Remittances-( 2 month term), less initial capital, less application fees; fast terms; subsidiary establishment in the country of the application;

European license will give possibility for operation also in Schengen countries( the authorities will monitor Exchange activity and if all is in line with the expectations, and after 6 months of operation, they may issue a recommendation for the Exchange to apply easily in all Schengen countries). The European authorities will not consider the due diligence of the central bank of a non European government and will do their own due diligence over partners( as developers of CDD platform, developers of the Exchange platform) and on the cryptocurrencies that are traded on the platform as they have their own approved list of crypto assets eligible for trading.

•​Apply for License
•​Launching the operation in more countries

3rd Phase: other countries

By Priority of setup – on a case by case basis

4th Phase: Countries which ban trade and cryptocurrencies. Negotiation with governments case by case.

And here comes the regulatory challenge/s and we will give some non-exhaustive examples.

The exchange will start to work for non-regulated jurisdictions and also in the jurisdiction from where has the licenses. But in all cases notification of activity would be sent to authorities just to cover the business and to maintain full compliance with requirements and it is on process at the moment.

Under non-regulated jurisdictions we mean for example:

India- The exchanges are legal. The Indian government has issued warnings but does not currently regulate exchanges. Unclear and no convincing answers received till now for operation of the Exchange. – we didn’t receive any clear answer on the questions neither from Central Bank nor from Ministry of Finance


We received many feedback from Latin American countries. The market is unregulated and their is no specific reference for the activity.( exception some countries) But there many attempts to control the markets and the US fed. reserve is putting tremendous.

India- The exchanges are legal. The Indian government has issued warnings but does not currently regulate exchanges. Unclear and no convincing answers received till now for operation of the Exchange. – we didn’t receive any clear answer on the questions neither from Central Bank nor from Ministry of Finance

We received many feedback from Latin American countries. The market is unregulated and their is no specific reference for the activity.( exception some countries) But there many attempts to control the markets and the US fed. reserve is putting tremendous pressure to monitor the operations. The conclusion for now is : People of most of the Latin American countries can operate on the exchange once the setup is done unless meanwhile there is a new regulations that forbid.

Africa- most of the countries are non regulated. Received answer just from Juhanesburg that they will try to re regulate all crypto. The conclusion for now is: People can operate on the exchange once the setup is done unless meanwhile there is a new regulations that forbid.

Russia – No official answer till this date. Most of the territories there still not regulated. The conclusion for now is: People can operate on the exchange once the setup is done unless meanwhile there is new regulations that forbid.

Lets think, fight and move forward for the better future!

The foundation of creating our better future we are putting in place today.

If you want it work for it! CLM

Postdate 23 Apr, 2019
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VIETNAMESE TRANSLATION
http://www.tuvanonecoin.net/2019/04/p3-chuan-bi-one-exchange.html

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