CEWG - Cryptocurrency Exchange Working Group

CES/BSC - Blockchain Standards Committee

The factors of concern for this standard involve multiple aspects, including self-discipline and professional ethics of cryptocurrency exchange platforms, as well as relevance between them and to the cryptocurrency wallets. This standard also describes the exchanges' business logic, operational procedures, transaction specifications, user authentication programs, and fair voting system to ensure the safety of users' assets and keep the overall exchanges fair and transparent to all participants. In addition, the standard provides a small but necessary technical category of requirements, including terminologies, data modeling, basic architectural framework, key indicators, end-user interface specifications, in order to achieve the previously mentioned goals.

This standard defines requirements for multiple aspects of security management for customer cryptographic assets on cryptocurrency exchanges, such as user identification using multi-factor authentication, prioritized protection of customer assets under unforeseen circumstances, and professional ethics of operation for cryptocurrency exchange platforms.

This standard defines an extension framework based on P2140.1. The extension framework uses a Smart Contract mechanism to process transactions on an exchange, to replace the role of exchange operators. Cryptographic solutions to provide "data privacy" and "data protection" are defined. This standard also defines a series of extensible interfaces for the exchange scenario, enabling support of third-party financial derivatives using tokens.

This standard defines a standard framework of a custodian service for cryptocurrency and digital assets. The framework includes a custodian reference technical architecture, business logic description, custodian service business models, digital asset evaluation criteria, operational procedure models, and regulatory requirement support models.