Jul 5, 2019

Friday 5-7: Exchange platform weekly summary

EXCHANGE PLATFORM WEEKLY SUMMARY

Week 9

IT DEVELOPMENT

*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).

LICENSING AND IT AUDIT

*The exact date of the physical meeting with the CB is planned to be announced after the completion of AML/CFT bank seminar (14-16 July). The IT committee report regarding the coins and tokens is going to be presented during the meeting together with the fee approval. All the fees and expenses for the bank seminar have been fully paid this week. The CB seminar is obligatory.

CB will allow the platform to trade and exchange a limited number of coins - they issued a policy for approved coins for trading to be applied by the licensed exchanges. if non-approved coins are added the document should pass through specific approval process. Still not aware what documents will be required.

*Payment gateway – the Exchange company has sent protocols of the business to 3 payment gateways (protocol is how the business is going to operate and via which platforms) however a further final approval is required by the CB in order to proceed with our request. Thus, this will remain with a status ‘Pending’ until the moment we get the final CB approval.

*Exchange limits – There is an ongoing discussion about Limits. Limits between coin accounts are not applicable as it is an internal transfer and will ease the parties in co-ownership.

COMPLIANCE

*Countries: The Exchange company have not received any updates from the countries and the file is still at the status it was last week. Another reminder was sent yesterday to all the countries. This week all DealShaker franchisee countries were reviewed as well as inquiries were sent to the responsible authorities.

*For European license: Three applications together are under processing and there is a positive sign and approval of CB bank to open a bank account for the already created entity. The Exchange company is still waiting for an answer from the two other banks but can proceed with bank account opening when the shared capital (obligatory) is prepared.

Post date 5 July 2019
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Download Docx file:
https://docs.google.com/document/d/1eOW
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Vietnamese Translation:
http://www.tuvanonecoin.net/2019/07/5-7-cap-nhat-san-giao-dich-one.html

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