Topic: 💰💰💰 [ICO] [SOUK] CRYPTOSOUK - CRYPTO EXCHANGE FOR MIDDLE EAST 💰💰💰 - page 48. (Read 29701 times)

The team members are located in different countries, and in different continents.

Please stay tuned for updates! We will announce them accordingly here, if there's any.

You may want to visit our Telegram Announcement Channel on this link:


https://t.me/cryptosouk
https://t.me/cryptosouk

How come you chose that kinda remote place for the  headquarter?

Now that you mentioned that,do you plan to atennd some crypto conventions or conferences in the near future?

Please stay tuned for updates! Don't worry, we will announce them accordingly here, if there's any.

For more information, please visit our other thread here on this link: https://bitcointalksearch.org/topic/m.41178403  We'd like to thank you for supporting CryptoSouk!

Indeed, it's always best to err on the side of caution. 

Well, it just so happen that we have chosen Malta for our [corporate parent] and to conduct our ICO due to that nation’s forward looking utility token regulation and membership in the European Union. 

We are also pursuing an exchange license in the Abu Dhabi Global Markets (ADGM) where, with an office in Kuwait as well, our operations generally occur.

The current status of our licensing is pending a final release of the regulatory framework for ADGM to operate under the OCAB (Operating a Crypto Asset Business) and a final activation of the recent Virtual Financial Assets Act in Malta. We believe regulatory certainty will become a more important part of the decision about which exchange customers will entrust with their crypto assets.

It looks good!

Will there be a soak convention of some kind soon?

There will be probably something.

So Malta is like a leader in crypto currencies world?

Better to be safe the sorry and knowing the law should be safe.

Yeah best is to take those things seriosuly,and do everything according to the law,only that will ensure future success of thew project.So best to take as much time as you need!

CryptoSouk Token Pre-sale delayed due to the sudden new requirement by Malta regulators.

This week breaking news about Malta introducing Virtual Financial Assets Act, which is great and welcomed news and exactly why we have chosen Malta (VFA Act).

However, the sudden change in the regulatory requirements in Malta has forced us to temporarily delay the launch of the public token pre-sale initially set for July 9th 2018. As a transitional period has been implemented to permit all entities get up to speed with the new laws which require all new companies such as Cryptosouk to provide a legal opinion with respect to the token utility and prove that it does not require any further regulatory approvals within the framework of financial regulated activities (i.e. security tokens).

Our expectation of the new act coming in to force and we were initially advised that this legal opinion would not be required to incorporate the company at the outset, yet would be required by the last quarter of this year. However, as mentioned above, with the immediate requirement, we are now required to submit the legal opinion to complete the incorporation process at the outset, so in our quest to remain fully compliant with all jurisdictions we intend to operate in, we have a fiduciary duty to operate properly as to not put any of own clients and community at risk.

We are now awaiting more accurate feedback from the company registry and our Maltese legal counsel E&S Group as to the best possible date to launch the pre-sale post full completion of the legal opinion and incorporation. We expect to be able to announce this very shortly as the document required is a mere formality.

We are genuinely grateful for the overwhelming support our community has provided us within such a short period and commit to always being as diligent as possible from all fronts. The Maltese Legislators forward looking approach by introducing this, the new act is welcomed news and we feel a minor delay is worth it, to ensure we are structured correctly for the benefit of all concerned for get-go.

While our lawyers are dealing with this matter, it will give us an opportunity to focus on the amazing response characterized by the several thousand users that signup up for our trading platform at www.cryptosouk.exchange! As part of our roadmap, we intend to fund all accounts with $1000 demo funds in order for our user base to test the majority of the platform features. The feedback from this exercise will be invaluable to us in addition to be hopeful that the community will share their experience throughout all available media channels.

David Dubrulle

CEO

We will follow our whitepaper religious and make it a grand success.

Join our telegram channel https://t.me/cryptosouk_community_en

Regards
MaZeeCM

There won't be live update but we will update on our website for sure.

Of course they have,here is the link https://t.me/cryptosouk

In general,Telegram is great place to get all the answers directly from the team,especially if you are in a hurry.

Do you have telegram group too?

As long as you follow through on your plans!