At a recent forum, Chinese financial officer Huo Xuven declared illegal the use of security tokens (STO). While the rest of the world seems to be turning from the Initial Coin Offerings (ICOs) to the STOs for their advantages and clearer regulatory requirements, the shift is unlikely to occur on Chinese soil. Ho Xuven is head of the Beijing Municipal Finance Bureau. He recently clarified China’s position on the emerging security tokens industry. Without any ambiguity, Huo explicitly stated that the Tokenized Securities Offerings are “illegal” in China.
Circle, the parent company of the cryptocurrency exchange Poloniex, announced the introduction of a new type of accounts targeted at so-called institutional clients. “Large and small organizations can take advantage of our carefully selected, but broad selection of pairs for trading cryptoactives, dedicated support and highly reliable API services,” the company blog said.
BANKEX, the leading global Fintech company, has launched its own Token Exchange. This new platform allows not only to trade the main pairs of utility tokens, but also to trade complex security tokens associated with real-world assets. BANKEX Token Exchange will serve as a secondary market for security tokens and will support the ERC-1400 and ST-20 token standards, as well as ERC-888 security tokens from BANKEX, which include KYC verification methods. The trading platform stores crypto in BANKEX Custody Service, an extremely reliable storage facility for cold storing.
Over the past week, we have finally finalized two major sections.
The first is a list of all platforms and agencies that work with Security Tokens. The list already has some of the leading platforms and information about them with a list of the services they provide and their portfolio of implemented projects.
The second is a list of real estate security tokens. In this list you can see all tokenized properties with all parameters. And what is important – all objects can be viewed directly on the world map and promptly invest in the best of them – for living or as an investment.
As legalized token sales look like the next logical step for crypto assets, a group of startups in the sector gathers to build a security token framework. A consortium of leading blockchain projects announced the establishment of a common framework for the interoperability of security tokens. The agreement was formed at the Blockchain South Leadership Summit 2018 at the Millbrook Resort in Queenstown, New Zealand.
Security token issuance platform Neufund has announced a new partnership with Ledger, a crypto wallet and secure custody platform for digital assets. Ledger’s solutions are already incorporated into Neufund’s platform and this new agreement builds on previous collaboration, which created a special edition of the Ledger Nano S for investors participating in Neufund’s Initial Community Building Mechanism, back in November 2017. The devices were then notarized in Germany, which provided an additional layer of protection to its hardware wallet.
Despite the bearish mood in the crypto market, the Satang exchange operator plans an STO with a fund-raising target of up to $10 million. Satang is undertaking the token sale with the support of the Thai government, which aims to turn the country into a regional blockchain hub. The Satang Pro exchange had a 24-hour volume of 912,424 Tether (USDT) as of December 5.
The Swarm platform has announced that it will add The Art Token (TAT) to its platform, yet another development in its quest to make high-yield, alternative investments more accessible to a wide range of investors. So far, TAT funding has reached over $5.5 million.
The Gibraltar Stock Exchange (GSX) Group, geared towards establishing a trusted financial services group for the new digital era, has today joined a group of leading blockchain companies to form the Millbrook Accord. The Millbrook Accord aims to create a Verified Token Framework (VTF) to provide interoperable security token guidelines.