In order to bring cryptocurrencies into the mainstream, the public must have a way to easily navigate through and abide by the various laws on taxes and money laundering as they pertain to their ownership. The European Crypto Bank is such a platform that will not only encourage compliance with regulations but will also provide numerous financial services to users.
The European Crypto Bank will allow users to securely trade and invest in major cryptocurrencies. The platform for trading cryptocurrencies will focus on being user-friendly and offering traders relevant and timely information about cryptocurrencies. Moreover, the platform will assist users on complying with applicable laws, making it easier for traders to print reports for filing their taxes. The platform will also offer other finance services, such as the offering of bonds, stocks, and real estate.
Among the biggest worries and headaches facing owners of cryptocurrencies is reporting their profits to governments. Unfortunately, most platforms today expect users to keep track of their own profits, and thus offer no assistance to users on this very important matter. Potentially, this unwillingness of major exchanges to confront the tax difficulties facing cryptocurrency traders is keeping many people from wanting to get involved in this booming asset class. By resolving this unmet need among cryptocurrency traders, the European Crypto Bank will stand out among exchanges, and perhaps even trigger a change in the way exchanges deal with their customers.
The European Crypto Bank will take key steps to comply with regulations. Customers who open accounts will have to provide information about themselves, including relevant documents, to comply with KYC (”Know Your Customer”) and AML (”Anti-Money Laundering”) laws. Additionally, the European Crypto Bank will hire a team of tax specialists that can help customers navigate through the complex laws of the various jurisdictions of Europe. The platform will also employ artificial intelligence (AI) to answer common questions users may have about complying with tax laws. To further assist customers and provide a user-friendly environment, the platform will offer assistance in multiple languages to meet the needs of its diverse users.
The European Central Bank is a joint venture between Forgues Gestion SAS France, Forgues Gestion UK Limited, and Woospeak Italia. These companies have extensive experience in finance, wealth management, and language training and translation in Europe. The CEO, Olivier Forgues, is a former UBS banker. Similarly, the Head of Operations, Sandrine Favre, worked at UBS and BNP Paribas. The team thus brings a wealth of experience to bring to the cryptocurrency and blockchain industry.
The ICO is scheduled to take place from February 16, 2018 to May 1, 2018. The funds raised during the ICO will be used to develop and market the platform. The soft cap is 5,000,000 euros and the hard cap is 200,000,000 euros. The native token of the platform, ECB, is ERC20 compliant and runs on top of the Ethereum blockchain. The minimum purchase amount during the ICO is 20 tokens. The maximum number of ECB tokens created will be 677,283,261, and any unsold tokens offered during the ICO will be burned. ECB tokens will entitle their holders to redeem them for services within the plaform.
*I am receiving ECB tokens for the growth of the community.
Bountyhive ID: thepranksta
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