Exchange And Remittance
While we think about exchange and remittance the first question arise in our mind that what we could do on an exchange?
And what are the facilities should be offered by an exchange so that it will be more reliable and convenient for everyone and most probably easy to use.
Reliability is more important for exchange and remittance.
Cryptocurrency Exchange works on software and it allows following functions to its users.
- Buy Cryptocurrency With Fiat Currency
- Sell Cryptocurrency With Fiat
- Buy And Sell Cryptocurrency With Cryptocurrency
Exchange And Remittance Perfect Modulas Operation
This modulus operation is divided into 4 phase and this is a perfect divination system.
3 Non-Europian Licenses For Exchange, Remittance And Third Party Fund Management already released.
Notification for operation is sent to authorities for all countries either cryptocurrency is officially regulated or not.
- Bank Account Opening
- Transfer of Shared capital
- Release of License
- Launching of Operation
In phase II 2 Europian license for Exchange and remittance(2 Month Term).
- Less Initial Capital,
- Fewer Application Fees,
- Fast Terms,
- the Subsidiary establishment in the country of operation.
- Europian License is very important as it provides the permission of operation in Schengen Countries.
- In Schengen countries, authorities will monitor the exchange activities and if everything will be right for at least six months then they may issue a recommendation for the exchange in all such countries.
- The European authorities will not consider the due diligence of the central bank of non-European government and will do their own Due Diligence over partners(Developer of CDD platform, Developer of Exchange Platform).
- And on the currencies that are traded on the platform as having their own approved list of assets eligible for trading.
Apply For Licensing
Launching the operation in more countries.
By priority of setup -on a case by case basis.
Countries which ban trade and cryptocurrencies.
Negotiations with government case by case.
Exchange And Remittance Regulation Challenges(Some Non-Executive Examples)
- The Exchange and Remittance will start to work in both countries with non regulated Jurisdiction and regulated Jurisdiction which has the license.
- But in all case, the notification of activities will be sent to authorities just to cover the business and to maintain the compliance with the requirement and it is on the process at the moment.
Under Non-Regulated Jurisdiction we mean to say that:
- Exchange is legal in India.
- Indian government issue warning and didn’t regulate any crypto exchange.
- Authorities ask many times for the exchange to Indian Government but there is no satisfactory answer from the Indian government.
- Neither Central Bank Nor the Ministry of Finance are giving any proper or clear answer.
- Cryptocurrency and exchange are not regulated in Latin America. But many positive feedbacks are received from these authorities.
- There will be many aspects to control the market. The US federal reserve is putting tremendous pressure to control the operation.
- The conclusion is that people from many countries can use exchange after setup will be launched.
Most of the countries are non-regulated.
Juhaneshburg providing positive feedback and trying to re-regulate all cryptocurrencies.
The conclusion is very simple and people can use exchange once the setup is done until the next forbid from their government.
Russia is not giving any official positive feedback.
Many countries in Russia are non-regulated.
Conclusion for Russia is very simple like other people can exchange their currency once the setup is done until the next forbid from the respected government.
Exchange And Remittance Conclusion
- Let’s think, fight and move forward for the better future.
- The foundation of creating a better future we are putting in place today.
- If you want it to work for it.
I hope everything is clear regarding the exchange and remittance of cryptocurrency.
And, It will create for those countries where trade and exchange are not regulated officially.
Maybe some countries will face the same situation as Bitcoin in India.