This was quite unclear on the AMA but as far as I understood there is no Nex being listed any time soon on Nash or even at all?
For Nash to trade $nex they need a security dealer license, right? Since this is not a priority and a long way due to regulatory uncertainty it will take some time I guess!
Wrong. They applied for a securities trading license ages ago. When they receive this license, they will be able to offer NEX pairs on Nash. It just takes a long time to get approved.
I dont know…I read to get this License you would need to pay millions! Not sure Nash is ready for this for a long time.
They applied for it a long time ago as far as I understand. And are you referring to US or European licenses? As I understand it, they are applying within the EU.
They could go the route of buying a company that already has the licenses but to do this you need money and to get money they need the exchange to be successful first. So it’s not really a priority at this point.
I don’t think that’s ever been confirmed, many just assuming that. At one stage, discussions were ongoing with regulators without an application being submitted.
In the near term, we will be working to acquire a Security Dealers License , which would allow us to issue other securities to the public and is a requirement for an Organized Trading Facility (OTF) license, which would allow us to support trading of NEX and other European securities. We are also working towards a Banking License , which would allow us to operate regulated bank accounts and store customer money. This would open the door to new products such as index funds and margin trading. In the United States, we are working towards Broker Dealer , ATS and FINCEN licenses, which would allow us to trade US securities. Approval of the NEX token in the European Union also helps pave the way for our application to become a US security.
That talks about future plans, going forward from Sep 2018. The team have yet to confirm that the application process has started
Dear Nash team, Is it possible to give a status/update on the ongoing proces regarding the security dealer license? Kind regards, Coinder Frank
We do not discuss regulatory processes. What I can say is that our current focus is not security dealer, but wining market share with exchange product we already have operational. Digital securities trading is a market that still has some significant time to mature, we will revisit this in 2020
Yeah, not very satisfying! I think having Nex trading on secondary markets is quite crucial. Having Nex on Switcheo & TokTok isnt the solution. What other exchanges may list Nex token?