Congratulations Onecoin Members: Onecoin Exchange | Onecoin Registration Guide Step By Step & Licences

Onecoin Exchange

Onecoin Exchange Weekly Summary: 

It's development

* Ongoing work based on liquidity-based foreign exchange restrictions (from wallet to wallet, as it is an internal transfer) - completed; the test will be conducted next week

* Compliance platform (not mandatory at the beginning): The platform is expected to start running in mid-September. It is currently in a state of development, has been approved for security controls and processes, and provides links to world check and goal APIs. It will be Europe The authorities audited, so the exchange company downloaded the requirements and risk scores to integrate into the platform, meeting the requirements. The change is expected to be completed by the end of next week.

License and its audit

Currently waiting for the exact date of the site visit communicated by cb. Once the site visit is completed, if all minor details are cleared (one is approved), the exchange company will receive a temporary license to allow it to begin setup and operation.

Compliance* countries:

This week, the exchange company continues to send reminders to all countries that have not yet responded to the survey, which will set a deadline.

The exchange company also stated that if the data set is not further clarified, it will consider that the service is permitted and it is legally protected.

Detailed updates for each country will be available next Friday.

Revised the so-called Fifth Directive 2015/849 (EU) Directive (EU) Effective September 9, 2019/843, EU member states must align their domestic laws with it by January 10th. 2020.

In each Member State, an inter-ministerial working group has been assembled to implement amendments to the encryption exchange and remittance services in its domestic law.

It is interesting to know what decisions are made in each country, and whether only communication with a registered office and address in a particular country must be included in the government registry (mandatory when national laws are in force) or other exchanges, Registered in the country

However, the provision of foreign exchange and remittance services on the national market will be a registered object. Many governments have not decided on this issue.

Our professional wisdom still exists, and we have started an initiative to communicate with governments.

Pursuant to the Directive and its last amendment, exchanges and remittance wallets should also take measures to comply with anti-money laundering regulations, including through internal rules to control and prevent money laundering, conduct risk assessments, establish procedures and tools to identify and verify their customers, etc.

A deposit is currently being prepared to finalize the application for the tpfm license (third party fund management) so that the exchange company manages all funds transfers for all exchange clients. The exchange is based on the current account and wallet and no one has the right to manage these Unless there is a license for third-party fund management.

European license:

The criminal report provided by the police for administrative management has been delivered

All documents as sow (work area) are reviewed and accepted, except for the currency list that will be traded on the Forex platform approved after the interview. If the interview is considered successful, they will need an audit communication platform. They have notified the audit Will be carried out 7 rounds after approval.

Payment Gateway - it will coordinate with the bank, as the api code connection portal needs to be provided by the bank

2019. From August 20th to 20th, the plan meets with the authorities, 2019. The translation is appointed. If this is the plan, the company will be able to start the exchange after the specified period, and after proper training of the mechanisms of the mechanism, Exchange function and exchange business.

Nb If a particular coin is not exchanged, the transaction or the license provided - this is illegal.

If there is no permission to allow a coin to be traded on the exchange, then the exchange can only trade the regular currency.

Therefore, we would like to remind you again that if you are connected by ambitious entrepreneurs who have recently appeared on the market, providing fancy encryption products, you should be very cautious.

Exchange platform in 3 steps

The exchange platform will allow all users to exchange the following:

O Fiat to Fiat (all major currencies) ff

O encryption to Fiat (all major approved cryptos against major Fiat) cf

O Fiat encryption (all major Fiat against the main approved cryptos) football

O encryption (all major approved cryptos against the main approved cryptos) cc

The process will be based on the following steps: 1 Step 1: Compliance - Due Diligence - Understanding Customers

The user should do the following:

1st-Step: Registration

1.1 - Register your name, email and mobile phone. You will have to start an email and authenticate via the Prosecutor's Office

1.2 - Once registration is complete. You must meet customer requirements

1.3 - Once the user is approved, you will have a user profile created on the exchange platform

1.4 - Once the personal homepage is approved, you will be able to create a current account and a

The wallet you will use

1.5-Accounts and wallets will be approved quickly, you will be notified to start trading and exchange

2nd-Step: Exchange and Trading

You must be able to trade and exchange Fiat and cryptocurrency.

2.1 - You should decide the type of transaction you want to execute (buy or sell)

2.2 - You should decide which type of exchange and trade you will perform (ff / cf / fc / cc)

2.3 - The system will allow approval of transactions after checking for allowed restrictions and availability of funds in the current account or encryption in the wallet

2.4 - Once the operation is confirmed, the user will have to confirm the execution of the transaction by the Office of the Prosecutor* 2.5 / Once the Office of the Prosecutor* have confirmed, you will receive notification of the flow of funds and all dvp-based traffic**/ RVP ***

3rd-Step: Remittance Service

You can transfer the Fiat currency to another beneficiary.

3.1 - You should create payment details as needed, including bank accounts

3.2 - Once payment is created, it should be confirmed by the Office of the Prosecutor*

3.3 - Once the Office of the Prosecutor* confirms the payment due

3.4 - Once the payment is approved for compliance, the user must receive a notice to perform the remittance 3.5 - once the remittance details are created, you should confirm it through the Office of the Prosecutor*

3.6- Once the Office of the Prosecutor* confirms entry, compliance will check the validity of the data.

Once the data verification is completed through compliance, you will receive an execution notification. The recipient will receive a receipt notification of the reference number received.

*The prosecutor's office is the code for verifying the mobile phone number received by SMS** dvp means delivery of the verse payment

*** rvp means receiving verse payment

Explicitly explain the exchange platform:

The exchange platform will allow all users to exchange the following:

1. Currency exchange currency (all major currencies) ~ff

2. Encrypted currency exchange currency ~cf

3. Currency exchange cryptocurrency ~fc

4. Encryption exchange encryption ~ currency transaction ~ cc

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