May 17, 2019

Friday 17/5: Exchange platform weekly summary

Week 2

IT development

✔ Testing – deposit function from OLN to Exchange is running smoothly; withdrawal function is still in test mode – currently withdrawals can be send out from the blockchain successfully but a minor error is displayed after execution of one of the commands -> working on eliminating the error.

✔ Limits and fees – awaiting suggestion by the end of the business day; reviewal and approval is expected during the next week.

✔ Payment gateway should be implemented - awaiting response from the Central bank on which one is most suitable.

✔ Connection ‘Dealshaker – Exchange’ – coming soon.

Licensing and IT Audit

✔ Licensing – it has been confirmed that there is no legal objection. Awaiting recommendation by Compliance to be released. Compliance and IT have joined forces and are examining all profiles and technical documents. When their work is done, both teams together will release a final report for the licensing. Report is expected to be ready within the next 2 weeks.

Legal

✔ File already released by legal – no further comments on legal structure. This means that the Central bank has completed the procedure and it has been approved (companies, ownership structures, scope of work, etc.)

Compliance

This week applications for 2 European licenses (exchange and remittances) have been set up; they will allow: fiat to crypto, crypto to fiat, crypto to crypto. Expected to start - next week with local company registration.

Application for European licenses and opening of a bank account – both pending.

The updated file regarding compliance and operational jurisdiction for the Exchange is forwarded below the current report.

Download PDF file: Friday 17/5: Exchange platform weekly summary
https://drive.google.com/file/d/1o

Download file PDF: Compliance update - regulations in various countries
https://drive.google.com/file/d/1nBgeSvAHr1YDXGuRGx6ZRE2P8kliI0Zy/view?usp=sharing


Post date 17 May 2019
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Vietnamese Translation: http://www.tuvanonecoin.net/2019/05/17-5-cap

File: Compliance update - regulations in various countries
http://www.tuvanonecoin.net/2019/05/compliance-update-regulations-in.html

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