Jun 29, 2019

Friday 28-6: Exchange platform weekly summary


Week 8


*Ongoing work for creating an additional mechanism, based on the One Ecosystem concept which establishes coin price stability and also facilitates Exchange demand.

Ongoing work for application of Exchange limits (no limits applicable from wallet to wallet as it is an internal transfer).


*Still waiting for an exact date proposal on when the Exchange company to be invited to participate in a final physical meeting with the CB. The IT committee report regarding the coins and tokens will be presented during that meeting together with the fee approval.

New Regulations have recently been introduced in the country of the Exchange. They have been applied to all exchange platforms, especially when related to Cryptocurrency. It is obligatory for all members/directors of a company to attend an AML Seminar in order a Certificate of registration to be issued. Any Certificate of Compliance that is not issued by the AMLC of the country of the licenses will not be accepted. The earliest date available for the seminar is July 14th – 16th . A meeting with CB and a Site visit will come after the AML certification.

*Payment gateway – we have sent protocols of the business to 3 payment gateways (protocol is how the business will operate and through which platforms) but they answered that they need a final approval by the CB in order to look at our request. So, this will remain with a status “Pending” until the moment we get the final CB approval.

*Exchange limits – Ongoing discussion about Limits Management from wallet to wallet; no limits applicable as it is an internal transfer.


*The Exchange company has sent reminders to all the countries which have not provided an answer yet and now we are waiting for responses.

*Regarding the European license – the company was created successfully and a license application was sent out this week; business plan has been submitted and all related fees have been paid. The license procedure lasts 30 days, counting from today -> currently ongoing.

Post date 29 June 2019
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