OneLife Exchange Amazing News IT Development
Such reports and other information, gathered by FIUs, often provide the basis for investigations of money
laundering, terrorist financing and other serious offences.
FYI: GoAML is specifically designed to meet the data collection, workflow and statistical needs of any Finance management,Intelligence Unit, analytical, document management.
Licensing and IT Audit
Currently waiting for the exact date of the Site Visit to be communicated by the CB. Once the Site Visit is
completed and, if all the small details are cleared out (ONE is approved), then the Exchange company will
receive a temporary permission, allowing it to start the setup and operations.Compliance
This week the Exchange company has sent out a serious reminder to all countries who still haven’t replied
to the inquiry and it will set a deadline. The Exchange company also stated that if it doesn’t receive any
clarifications by the date set, it will consider that the service is allowed and that it is legally protected.
Directive (EU) 2018/843 which amended the so-called Fifth Directive 2015/849 (EU) entered into force on
9 July 2018 and EU Member Countries are required to bring their national laws into line with it by January
In every member country an inter-ministerial working group has been gathered in order to implement the
amendments in their national law regarding the crypto exchanges and remittance services.
It is interesting to know what will each country decide – whether only Exchanges with a registered office
and address in the specific country have to be included in the government registry (which will be
compulsory when the national laws come into force) or also other Exchanges, not registered in the country
but providing exchange and remittance services on the national market will be a subject to registration.
Many governments have still not taken a decision on this matter.
Remaining true to our professional acumen, we began an initiative to communicate with governments in
According to the Directive and its last amendment, Exchanges and remittances’ wallets should also take
measures in order to be compliant with the AML regulations, including the adoption of internal rules to
control and prevent money laundering, carry out risk assessments, establish procedures and tools for
identifying and verifying their customers, etc.
– criminal reports from police for the executive management will be delivered at the beginning of next
– the whole documentation, delivered as SOW (scope of work), was reviewed and accepted with the
exception of the list of currencies to be traded on the Exchange platform which will be available after the
– Payment gateway – it will be in coordination with the bank as the API code to connect gateway needs to
be provided by the bank
*Meeting with authorities is set to happen after August 20th, 2019. If all goes well, the Company will be
able to start the Exchange after that period and after a proper training of the IMA-s on mechanisms,Exchange functionalities and how to operate on the Exchange.