OneCoin is now rebranded as ONE Ecosystem. It's new official cryptocurrency is OES token. ONE Token OES is based on Polygon blockchain network.
Initially OneCoin project was developed on ETH private network. And now IMA have to pay some gas fee to deploy their account on Polygon blockchain.
But they are in little doubt that will it worth to deploy accounts with paying gas fee or not. So, today in this article we will discuss the regulatory framworks and guidelines from the official authorities for upcoming onecoin exchange and fiat conversion pool.
ONE Token OES Future Regulation
ONE token OES future regulation depends upon the two major regulatory authorities.
- SEC from US
- MiCA from Europe
United States SEC
SEC is Security and Exchange Commission of United States. Through this, all types of financial transactions are monitored in the United States.
If any financial project has to transact money in the United States or come on investment from its citizens, you will have to follow all the dance and condition scores of the Security and Exchange Commission.
For your information, want to tell that our company's project is doing its work keeping in mind all the guidelines of the Security and Exchange Commission. We have fulfilled all those conditions which prove us effective for doing business in the United States.
For your information, let us tell you that in the OneCoin initial launching days, when there were some legal problems with US. Then in the Security and Exchange Commission itself, there was talk of banning it. Now all these things have been completely rectified and we are fully representing oneself legally.
European Union MiCA
European Union is a group of many big countries. To launch any type of crypto project in European Union or to run legally, all the conditions of MiCA have to be followed.
The CEO of One EcoSystem Company has said during an event in Korea that we are doing our work keeping in mind all the guidelines of the European Union. As we follow all the money laundering policies here. And we Proceed only after doing KYC of the customer.
You will remember that some time ago, cryptocurrency mining has been banned from the European Union, by MiCA. We cannot mine inhabited bitcoins by installing a machine with a large graphics card.
For cryptocurrency mining, the European Union will now have to use some alternative methods. Such as Proof of Authority and Proof of Stake.
OneEcosystem Token OES Regulate in Future
OneEcosystem is following all the rules that have been made for Legal and official regulation. So we hope that this project will be legally regulated within the next 3 to 6 months.
Polygon profile deployment is also a part of legal requirement along with multiple additional benefits.
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