May 10, 2019

Friday 10/5: Exchange platform weekly summary


Week 1

IT development

✔ Deposit of coins including ONE- done
✔ Withdrawal of coins - done
✔ Trading- done
✔ Deposit and withdrawal of FIAT- done
✔ KYC procedures- done

✗ Testing - next week
✗ Connection ‘Dealshaker – Exchange’ - has to be done
✗ Limits - has to be applied

Licensing and IT Audit

The Licensing procedure is currently an assessment stage. There is more time necessary for final approval and testing. Moreover, the IT audit of the platform will provide a principal opinion in the next weeks. A further revision of a list of all cryptocurrencies on the platform, is undergoing.


Operational funds were raised and deposited in the Escrow account ready to be transferred. Legal documentation was finalized and under final review. No new updates from specific authorities regarding allowance of provision of services in the state.


There is a delay in the licensing committee due to the fact that new requirements for separate CDD platform arose as a specific requirement of the Central Bank to apply transparency in the Due Diligence Process and to maintain high level of Monitoring and Control over the flow of funds while reporting to the Central Bank. However, we have good news that we can start with limited tolerance time.

Post date May 10, 2019

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