Top 4 Security Tokens News – Weekly Digest (22 – 28 July)

TokenMarket Announces Successful Security Token Offering, 158% Of Funding Goal Raised

As of July 23rd 2019, TokenMarket has announced the successful completion of its Security Token Offering (STO). The platform raised a total of £240,000, which is 158% of its original funding goal of £150,000. Source

New Regulations in Japan on Security Token Offerings

A bill to amend the Act on Settlement of Funds (Act No. 59 of 2009, the Settlement Act) and the Financial Instruments and Exchange Act (Act No. 25 of 1948, the FIEA) has passed both the upper and lower houses of Japan’s National Diet and was enacted on May 31, 2019. The amendments enhance the regulations on ICOs (Initial Coin Offerings) by applying the securities regulations under the FIEA when an ICO is an investment program, i.e., the investors expect to receive distribution of profits from the issuer.

STOs will be subject to disclosure requirements, and the issuers or brokers who deal with STOs will be subject to registration requirements under the amended FIEA. Source

$280 Million Ethereum Real Estate Bond Seeks To Recapture The Promise Of The ICO

As the crypto community digests the news that leading firms such as Blockstack and YouNow obtained SEC approval to sell security tokens to retail investors, a German startup announced that it received approval from the German Financial Market Supervisory Authority (BaFin) to distribute the country’s first blockchain-based real estate bond to retail and institutional investors around the world.

The company is called Fundament Group, and yesterday it launched a 250 million euro ($280 million) tokenized bond offering on the Ethereum blockchain backed by commercial real estate investments in major cities across Germany. Source

CEX.IO Looking To Support Security Token Offerings

According to reports, London-based cryptocurrency exchange CEX.IO is looking into support security token offerings (STOs) on its platform.

Many cryptocurrency exchanges have begun actively considering holding STOs in the past year, indicating a new trend in the industry. CEX.IO may be the next one to jump on board, according to an official at the exchange. Source

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