Security Tokens News Digest #11: United Kingdom, Jamaica, Uzbekistan enter the Game

UK Financial Regulatory Agency Will Now Look Into Security Tokens

The U.K.’s Financial Conduct Authority (FCA) has set out proposed guidance for how crypto assets should be regulated in the country. In a consultation paper published Wednesday, the watchdog assigns the various crypto tokens into three categories and suggests whether these can be accommodated under existing rules overseen by the FCA – for example, as specified investments, financial instruments or e-money. Source

tZero Security Tokens Platform Is Finally Live

E-commerce giant Overstock.com’s cryptocurrency subsidiary tZERO announced that secondary trading of tZERO tokens is now live, according to a press release published Jan. 24. Per the release, accredited investors can trade the security tokens through a digital securities brokerage account at Dinosaur Financial Group, which will act as a broker-dealer. Dinosaur partnered with tZERO subsidiary PRO Securities, which provides an alternative trading system for secondary trading of tZERO security tokens. Source

Security Tokens Will Be Available On Jamaica Stock Exchange

The Jamaica Stock Exchange (JSE) is planning to list security tokens as tradeable assets for clients. The JSE’s Canadian technology partner Blockstation announced last week that the two firms have completed the first stage of a 60-day live cryptocurrency trading pilot. Marlene Street Forrest, the JSE’s managing director said the trial has been “very smooth” so far and that the exchange is “quite happy” with the results. Source

Polymath Has Demonstrated Its Confidence in Success

Despite chilly market conditions, one startup is locking up approximately $9 million worth of its tokens for five years. Polymath, a company best known for advancing the idea of security tokens (those designed explicitly to fit under current securities laws), revealed to CoinDesk that it is locking up 75 million of its POLY tokens. That’s 7.5 percent of the total supply, and a quarter of the current circulating supply. Source

Uzbekistan Will Create Conditions for Security Tokens

Uzbekistan is looking to attract security token-oriented companies by creating a legal framework for this emerging industry. Uzbekistan, a Central Asian country, is ready to adopt the security token market. Bobir Akilkhanov, investment director at state-backed Digital Trust, revealed in a recent interview with Forbes that the country was working on a legal framework aimed at security token offerings (STOs) – a form of fundraising that finds a place between initial coin offerings (ICOs) and initial public offerings (IPOs). Source

The Deal Between Horizon Globex and V Stock Was Successfully Concluded

Horizon Globex US, a security token software provider, has signed its first deal to license its internally developed software solution, CustodyWare, to V Stock Transfer, an SEC-registered transfer agent and registrar. VStock will now be able to take custody of tokenized securities issued pursuant to the following securities exemptions: Reg D, Reg A+, Reg S, or S-1 filings. Source


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