Connect with us
Prague Gaming & TECH Summit 2024

Blockchain

After Recent SEC Guidance, TokenSoft to Accept Clients from Broader Set of Law Firms

Published

on

Reading Time: 2 minutes

 

On the heels of recent guidance about security token regulations from the SEC, TokenSoft, Inc., the leading digital asset issuance and management platform, today announced that it no longer restricts clients to use one of its previously vetted and approved law firms.

“When we launched TokenSoft, we were well aware that the legal landscape was new to blockchain-based issuances of securities. In order to mitigate legal risks, we decided to perform due diligence on a select group of law firms that shared our conservative view that digital assets should follow securities regulations,” said Mason Borda, CEO, TokenSoft.

“In retrospect, doing this helped protect our clients and encouraged them to take a more conservative approach, which has paid off given that the regulators now echo much of this sentiment. When issuers come to us today as their technology partner for a compliant issuance, they typically have already engaged a law firm for their project, and if their counsel carries the SEC’s perspective, we don’t want to be a reason for changing that important relationship.”

The SEC recently issued the Framework for ‘Investment Contract’ Analysis of Digital Assets, which gave the market more specific guidance from which to work. In addition, most larger global law firms have created blockchain practices with attorneys with pedigrees in traditional financial securities, banking, and tax regulation. TokenSoft’s sense is that market participants, including legal advisers, are now commonly taking the position that tokens are regulated instruments. The market also has the benefit of seeing an increasing number of use cases from which to learn.

“For our business, this means that we are less concerned that attorneys may allow their clients to adopt an interpretation of the regulations which carries higher risk. Now, we can serve a broader client base due to this common understanding that comes from clearer regulatory guidance.”

As 2019 progresses, TokenSoft is seeing steady interest from institutions and enterprises looking to issue asset-backed tokens or digital securities. If you’re a law firm working with issuers of digital assets and would like to learn more about how TokenSoft can help issuers adhere to applicable regulations, please reach out at https://www.tokensoft.io.

 

SOURCE TokenSoft, Inc.

Blockchain

CryptoBlox Technologies Inc.

Published

on

cryptoblox-technologies-inc.
Continue Reading

Blockchain

Zero Hash bolsters its ecosystem support with addition of Aptos blockchain

Published

on

zero-hash-bolsters-its-ecosystem-support-with-addition-of-aptos-blockchain
Continue Reading

Blockchain

Green Fintech Market Size – Global Forecasts to 2029

Published

on

green-fintech-market-size-–-global-forecasts-to-2029
Continue Reading
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE