ERC20 Coin with Hosted Wallet System

We want to develop a coin based on the ERC20 standard (Ethereum Token). It will run exactly as a normal token and allow sending and receiving of the token to wallets. However, the key features that we need to address is we need to be able to have 2 types of wallets and also have purchase (continuous ICO) and redemption, through a hosted wallet system (website) 1) An UNRESTRICTED wallet. This is the typical wallet found in the ERC20 ecosystem 2) A RESTRICTED wallet. This is the new type of wallet we want to build. It will ONLY be able to send out to other restricted wallets, NEVER to an unrestricted wallet. The way this is handled is that we will have a HOSTED wallet service. And within that service (website) we can mark wallets as unrestricted or restricted. 3) A MASTER wallet. This wallet counts as a restricted wallet (everyone can send to it), but it can also send OUT to unrestricted wallets. This will be again hosted on our website. 4) An ICO mechanism (continuous) by which people can purchase the TOKEN. They will have 2 options. Option A) Purchase with BTC or ETH, where they send the crytpo directly to an address we specify and in exchange receive the TOKENs. The exchange rate will be set by a specific formula based on the USD price of BTC or ETH. Option B) Purchase with US Dollar Fiat. For this, they will need to fill out a form on the website, and upload verification documents. They will then be provided wire instructions to send our a wire payment. Then, we will manually release the TOKEN to them. 5) A REDEMPTION mechanism. It will be the reverse of the ICO. They can send in TOKENs to their wallet on our hosted service, then request a redemption. If they want to redeem to BTC or ETH, they just need to specify a wallet address. If they want $USD, they will need to fill our a form and upload documents (unless they already did that when they purchased the TOKEN and have sent the TOKEN back to that wallet) and specify an account number. We will then manually send out a wire to that account. 6) Of course we will need a public blockchain explorer so everyone can view the transactions For full payment, the blockchain code MUST pass a CODE REVIEW from a recognized authority or the community.