oblongmeteor,
Yes we have a bank account which is registered in the companies details which was opened with the bank knowing full details of our business plan.
We have been working with our legal team, submitting applications for the required test, registrations and policies in place.
Our legal team has been back and forth with the FCA & HMRC, as you may know if you speak with the FCA they give a very vague output on how things should be regulated so in a sense we will be forcing them to make a decision. (put it this way... if the FCA said we did not need to be regulated then everyone would run an exchange, so that's not going to happen).
We certainly know first hand how much red tape is involved & the costs in this process & realize that its certainly a tall order in a financial district that does not like change.
We have a couple of options regarding the compliance role, we have been looking for an individual for sometime to fill this role which is easier said than done as most in this role are in a happy place of comfort in there job and very well paid.
Topic: CoinPay.co.uk - UK Bitcoin Exchange - page 2. (Read 3560 times)
Nah, I was staying In a Cabin in Sherwood forest, they met me down the road at a Pub.
From what I saw their legal team has had substantial engagement with regulatory bodies, I believe at this point its just a case of officially assigning roles such as compliance and risk manager etc.
@CoinPay: If I have misunderstood what you showed me feel free to correct me
From what I saw their legal team has had substantial engagement with regulatory bodies, I believe at this point its just a case of officially assigning roles such as compliance and risk manager etc.
@CoinPay: If I have misunderstood what you showed me feel free to correct me
I met these guys while on Holiday in Sherwood forest. Having spoken to them and seen a lot of their paperwork things are looking good for a UK launch. I am personally very excited at the prospect of a UK Exchange accepting UK deposits again.
Anything I can do to help guys please let me know.
Anything I can do to help guys please let me know
.They have an office in Sherwood Forest? Is one of 'em called Robin? (sorry)
What is your fee structure for people with UK bank accounts?
I have a couple of questions:
-> Have you got a UK bank account? Do they know what you are doing?
-> Do you know what rules actually govern your operations in the UK
-> Have you actually engaged any official bodies in anything other than a cursory capacity?
I will say this, there is a reason that there are no exchanges in the UK and it's not because no ones thought of the idea (See: Intersango). While I'm not passing judgement on your likelihood of success, the compliance hurdles here are significantly higher than just about anywhere else in the Western World.
It does not inspire confidence that you are only now looking for:
Chief Risk & Compliance Officer:
-> Have you got a UK bank account? Do they know what you are doing?
-> Do you know what rules actually govern your operations in the UK
-> Have you actually engaged any official bodies in anything other than a cursory capacity?
I will say this, there is a reason that there are no exchanges in the UK and it's not because no ones thought of the idea (See: Intersango). While I'm not passing judgement on your likelihood of success, the compliance hurdles here are significantly higher than just about anywhere else in the Western World.
It does not inspire confidence that you are only now looking for:
Chief Risk & Compliance Officer:
I met these guys while on Holiday in Sherwood forest. Having spoken to them and seen a lot of their paperwork things are looking good for a UK launch. I am personally very excited at the prospect of a UK Exchange accepting UK deposits again.
Anything I can do to help guys please let me know.
Anything I can do to help guys please let me know
.
Notes:
The current SSL is self signed, we are going through the verification process for our EV level SSL & certificate.
Also there is alot of place-holder text on the design & pages that are disabled / not complete this is both due to fiat systems having to be disabled before we are regulated as well as FCA regulations on how you word your content so we are having all of the formatting, policies etc.. all written up by our solicitors.
The current SSL is self signed, we are going through the verification process for our EV level SSL & certificate.
Also there is alot of place-holder text on the design & pages that are disabled / not complete this is both due to fiat systems having to be disabled before we are regulated as well as FCA regulations on how you word your content so we are having all of the formatting, policies etc.. all written up by our solicitors.
Introducing CoinPay.co.uk (Hopefully the UK's First Regulated Bitcoin Exchange).
Important Notice: The system is very much still in beta & running testnet bitcoind
We have decided to showcase what we have so far and to keep everyone updated on our progress from now on. (The system will initially only be available to UK residents with UK bank accounts)
Over the past 6 months we have been working with respected bitcoin developers to build a secure & scalable trading platform for the UK market.
We initially decided to keep our development progress behind closed doors as we did not want to create hype over something that did not exist at the time.
So instead of announcing our plans we plodded along with the development & only shared our progress with a small number of users in #bitcoin-otc-uk & #bitbargain. We have also met a few of the guy's who regularly hang around on the IRC channels and hopefully plan to meet a few more in the coming weeks.
We have been working with solicitors for the past few months going through the tedious paperwork & box ticking required to submit an application to the FCA, we are almost there and hope to have the application submitted within the next few weeks.
We have stumbled into a few hurdles along the way, mainly due to not coming from a financial services background some things have been a learning curve, but we have been working to overcome those hurdles and there is now a finishing line in sight, what the decision from the FCA will be... that will be one to be seen, But we hope that having the right people and a solid system inplace the decision we get back will be the right one.
Now I'm sure that many of you will have questions, so feel free to fire away & we will do our best to answer those as best possible, we want to be as open as we can about everything and really hope the community will get behind us.
Also hopefully some of the UK guys we have so far interacted with can shed some positive light on us as individuals!
Investment Opportunity's
We are currently not seeking any investment at this time, However if you believe that your credentials would benefit the company moving forward & would like to speak with us further in regards to investing please get in touch: [email protected]
Employment Opportunity's
Chief Risk & Compliance Officer:
Are you UK Based & Work or have worked in Financial Services / Risk & Compliance? .. shoot us an email: [email protected]
We would prefer to work with someone who has this experience and knowledge of bitcoin rather than working with a compliance company that has no knowledge of bitcoin.
Important Notice: The system is very much still in beta & running testnet bitcoind
We have decided to showcase what we have so far and to keep everyone updated on our progress from now on. (The system will initially only be available to UK residents with UK bank accounts)
Over the past 6 months we have been working with respected bitcoin developers to build a secure & scalable trading platform for the UK market.
We initially decided to keep our development progress behind closed doors as we did not want to create hype over something that did not exist at the time.
So instead of announcing our plans we plodded along with the development & only shared our progress with a small number of users in #bitcoin-otc-uk & #bitbargain. We have also met a few of the guy's who regularly hang around on the IRC channels and hopefully plan to meet a few more in the coming weeks.
We have been working with solicitors for the past few months going through the tedious paperwork & box ticking required to submit an application to the FCA, we are almost there and hope to have the application submitted within the next few weeks.
We have stumbled into a few hurdles along the way, mainly due to not coming from a financial services background some things have been a learning curve, but we have been working to overcome those hurdles and there is now a finishing line in sight, what the decision from the FCA will be... that will be one to be seen, But we hope that having the right people and a solid system inplace the decision we get back will be the right one.
Now I'm sure that many of you will have questions, so feel free to fire away & we will do our best to answer those as best possible, we want to be as open as we can about everything and really hope the community will get behind us.
Also hopefully some of the UK guys we have so far interacted with can shed some positive light on us as individuals!
Investment Opportunity's
We are currently not seeking any investment at this time, However if you believe that your credentials would benefit the company moving forward & would like to speak with us further in regards to investing please get in touch: [email protected]
Employment Opportunity's
Chief Risk & Compliance Officer:
Are you UK Based & Work or have worked in Financial Services / Risk & Compliance? .. shoot us an email: [email protected]
We would prefer to work with someone who has this experience and knowledge of bitcoin rather than working with a compliance company that has no knowledge of bitcoin.
Jump to: