We have been requesting the authorities in the Dominican Republic to help us create the perfect environment for Digital Currency businesses with the right kind of regulations. We are looking forward to working together with the Chamber of Commerce and the Banking regulators (Super Intendencia de Bancos) in order to create a home for our sector with clear rules that will allow any young DC startup set up shop and grow without much costs.
We have submitted ourselves as a test case and therefore some changes are taking place in XNFTrading.com, which are a direct outcome of this probation case. One of those changes are KYC are back and mandatory for all.
Some other changes are being implemented because we have new investors on board and together, we have mapped a clear road to where we are going. For the moment, that journey does not have Ripple and NXT in it, though that might change in the future. Not to worry, we are allowing everyone holding Nofiatcoins to bring them home to XNFTrading.com.
XRP, Stellar and NXT orderbooks will disappear from XNFTrading.com. The values that will be traded on the platform will be XNF, USD, EUR and BTC.
We have also worked with our local bank in order to process wires and deposits in a timely manner and allow us to guarantee the 5 business days completion (provided they are made before 15:00 Dom. Rep. time). We have a dedicated staff at the bank that will make sure this is the case. the good news is that we no longer have to depend on third parties to process our customers' requests, we are in direct control with all new deposits made from today on.
For transparency sake, we are shipping all of our gold, which is currently in three different countries, to the Dominican Republic. We want to have an audit by latest spring time 2015. This audit will not only show the value of our gold but of all of our assets.
Other Updates:
-Arcarius Global is no longer part of our organization
-Aerapay will stop processing transactions for us
-After the audit, we will attach a weighted value of gold to each XNF
Founder of Nofiatcoin - XNF talks about current events, developments, future plans for XNF and general thoughts.
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