Questions regarding License

Community
#1

@ethan @canesin

A couple of questions for the team regarding the License, as NEX is already registered and a security token in Liechtenstein,

  1. Has NEX already applied for the License in USA (or) yet to apply ?

  2. Is there any Timeline on when NEX can obtain the License to trade securities or NEX token on its own exchange ?

  3. When we can expect BTC trading pair after the exchange launch ?

8 Likes
#3
  1. They are deciding on the best course of action to take to acquire the needed securities licenses - balancing length of time & budget (Ethan has already addressed this)
  2. Ethan explained recently that they do not plan to give out timelines - there are many factors to consider and this a not a simple process, they are one of the first going through the fire so it can take much longer than expected so to temper expectations… no timelines on licenses or the exchange, they will announce when acquired/ready
  3. Same as 2. (No Timelines Given) - However I would estimate Q2 2019, highest probability it will be then with the Mobile App.
1 Like
#4

That’s only partially true, as they already published a roadmap with rough dates (which were adjusted). As long as the roadmap is public, people will have expectations accordingly and will continue to ask these questions.
Anyway, fall ends 21 december, so until now the roadmap is still not wrong :slight_smile:

#5

You are correct, @JustUS this is a lesson learned for us. We made some mistakes, still we got more right than anyone. One of those mistakes was to publish a roadmap with expected dates, we will now work to establish a vision and communicate development of new products and markets but will refrain of pushing a public roadmap with dates.

4 Likes
Roadmap
Staking / Trading and Token Purchasing
Any update on btc trading pair?
#6

@AlKaseri:

  1. Yes, in process.
  2. We will not publish timelines, this is new legal ground (remember NEX is non-custodial).
  3. When BTC support is done, again: this is a priority but we will not provide timeline guesses.
6 Likes
#7

NEO Seattle Devcon is Feb 16th and Feb 17th. Based on recent updates, I am assuming the exchange won’t be launched Q4. I wouldn’t be surprised if the goal was now shifted to launch NEX leading up to the Devcon event. It would tie in well with NEO’s marketing efforts. However, not having a working exchange prior to this event would be a major miss in my mind.

2 Likes
#8

That sounds reasonable to me. Anyway, I am fine with waiting for a good product.
Happy Christmas season!

2 Likes
#9

What does it mean by “NEX is non-custodial” ? my english is bad…

#10

A non-custodial exchange does not hold or own your Crypto, your Crypto is in your possession, you own your private key!
Where as a custodial exchange such as Coinbase or Binance are the ones in possession of your crypto, they are the custodians of your private keys.
@MaoMao

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