licence holders will be issued with a single financial services permission for the purposes of 'Operating a Crypto Asset Business' irrespective of the Crypto Asset activity that they are conducting.
Cited by Forbes as one of the top young innovators and leaders in Asia in 2017, Ocab pointed to clear messaging and quality web-site performance as the main factors that helped his online marketing business to grow.
AN enterprise's web site should offer the customer an eye-catching, clear and easily executable direction right on the homeApage, said Ocab, who made it to Forbes magazine's top 30 young leaders in the region in the magazine's 'media, marketing and advertising' category.
Based on his years of experience, Ocab said that some enterprises offer no clear message and direction on their homepage.
The message and purpose should be clearly established first prior to designing and developing the web site, Ocab noted.
PEOPLE are more impatient when dealing with an enterprise online than when in an eye-to-eye situation due to many available options, Ocab pointed out.
in particular identifies with a broader movement that has developed across North America, known as Community Economic Development (CED).
Amongst these, applicants that qualify for authorisation under the Framework will be granted a Financial Service Permission ("FSP") to carry on regulated activity of OCAB.
OCAB permits undertaking of one or more crypto asset activities, which include:
However: (i) creation or administration of crypto assets; (ii) development, dissemination or use of software for the purpose of creating or mining a crypto asset; (iii) transmission of crypto assets; (iv) loyalty points scheme denominated in crypto assets; and (v) such other activity as may be determined by the FSRA to not constitute OCAB, shall not constitute OCAB and therefore will not be subject to the Framework.
A recognised investment exchange may operate as a crypto asset exchange, as part of the regulated activity of OCAB, provided that recognition order of such exchange includes a stipulation, permitting it to do so.
In order to afford the same protection the FSRA offers to other similar products within the FSMR (including relevant rule books) it has widened the scope of definitions of "Providing Custody", "Client Assets", "Client Investments" and "Investment Business" (as defined under the FSMR) to include crypto assets and OCAB.