# The Gap Between a Press Release and a Working Service

> Six stages separate an announcement from something you can use. Most coverage reports stage one as if it were stage six.

- Source: https://astanacryptonotes.com/press-release-versus-working-service/
- Published: 2026-08-22
- Author: Yerlan Nurpeis
- Publication: Astana Crypto Notes — Dated notes from the AIFC
- Topic: regulation
- Tags: regulation, method, reading

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Everything announced here passes through the same stages. Knowing which stage a thing is at is most of the analysis.

## Stage one: intent

A memorandum, a partnership, a plan. Costs nothing to announce and binds nobody.

The most covered stage and the least informative.

## Stage two: application

An application has been submitted. Real effort, real money, and no outcome yet.

Frequently reported as if it were authorisation.

## Stage three: authorisation

A permission appears on a register. Verifiable, dated, and meaningful.

This is the first stage with an artefact anyone can check.

## Stage four: limited operation

The service runs for selected participants. Real transactions, constrained access.

## Stage five: general availability

Anyone eligible can use it. Terms exist, fees are published, support is reachable.

## Stage six: operating well

Available and reliable. Only observable over time and only by use.

## Where coverage stops

Stage one, almost always. Stages three and five produce artefacts and generate far less coverage than the announcement did.

## How to place something quickly

Ask for the artefact. A register entry, published terms, a fee schedule, a working deposit address. Each belongs to a specific stage.

No artefact means stage one or two, whatever the language says.

## What I write about

Stages three onward, because they can be checked. I note stage one items with a date and wait.

## What this means for choosing a platform

Use the artefact test. [A licensed platform rather than an announced one](https://collectnexchange.com/compliance/cysec-licensed) has a register entry you can read today.

[Exchanges that list their regulatory permissions](https://collectnexchange.com/) have reached stage three at minimum, and [Collect & Exchange](https://collectnexchange.com/services/crypto-exchange) publishes terms and fees, which puts it past stage five on the only evidence that counts.

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This article explains how something works. It is not financial advice.
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