Top 7 Security Tokens News – Weekly Digest (3 – 9 Jun)

SEC Sues Kik Over Illegal Security Token Kin, The Outcome Could Change Crypto Forever

As expected, the United States Securities and Exchange Commission has sued Kik Interactive Inc. The regulatory body alleges that the social messaging firm turned crypto company broke securities laws when it held its $100 million ICO in 2017. Source

Private equity securities are the top use-case for security tokens, but lack of secondary market is a big investment obstacle, research shows

Although private equity securities are believed to be the top application for security tokens, 64% of global blockchain and fintech executives surveyed by Greenwich Associates say the lack of secondary market poses the biggest obstacle in investing in those markets. Source

Reports Says Security Tokens are the Future But Needs a Well Defined Regulatory Framework

The Deloitte report on crypto-assets, and more specifically security tokens, acknowledges that the ecosystem is very much evolving. The authors pose the question as to whether or not security tokens are the securities of tomorrow. They very much believe it is. Source

TradeCloud launches its Security Token Offering (STO)

TradeCloud have announced the launch of the private round of their Swiss based Security Token Offering; having cleared all regulatory and legal hurdles. An initial 25 million tokens will be offered for approximately $20 million over the private and public rounds. The private round commences straight away and be immediately followed by the public round. Source

Republic of San Marino Issues Regulatory Policies on Tokens, Token Offerings

According to the decree, blockchain-based organizations in the Republic of San Marino, the EU, or any country not classified as “high risk” and also considered relevant to the purview of San Marino legislation, may apply for registration with the institute. Source

Boston Security Token Exchange: tZero Partner BOX Exchange Files Proposed Rule Change as it Pushes to Trade Digital Assets

The filing is over 400 pages long. BOX requested:

“a proposed rule change to adopt rules to govern the trading of equity securities on the Exchange through a facility of the Exchange known as Boston Security Token Exchange LLC (“BSTX”). As described more fully below, BSTX will operate a fully automated, price/time priority execution system for the trading of “security tokens,” which are equity securities meeting BSTX listing standards and that use the functionality of distributed ledger technology.” Source

SWARM Security Token Issuance Platform Goes Live

On June 3rd 2019, SWARM— a non-profit focused on providing the necessary infrastructure for compliant security tokens— announced the launch of a new platform. Available services include compliant fundraising and security token issuance, for free. Source

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