Seychelles-based Merj Exchange to launch trading of tokenized supercars
Securities exchange MERJ and luxury car tokenization platform CurioInvest have teamed up to enable investors to gain exposure to supercars as an asset class in the form of blockchain-powered, tradable digital tokens.
SEC fines ICOBox for selling unregistered securities
The crackdown on the sale of unregistered securities continues with the SEC fining the ICO-as-a-service platform, ICOBox, $16 million for the violation of securities laws.
Crypto securities are still securities, says industry watchdog
The International Organisation of Securities Commissions (IOSCO), has released a report advising regulators on their approach to “crypto asset trading platforms” (CTPs). The report suggests that any crypto assets considered securities should follow the same regulatory principles as conventional securities but does not provide guidance on how to define crypto assets as securities in the first place.
Beyond ‘Utility’ — Why Security Tokens will ultimately dominate
In ICO terms 2018 got off to a roaring start — but growing regulatory action internationally has seen a marked decline in capital raised during Q2 — moving many issuers and investors to the inevitable conclusion that compliant Security Tokens are the only viable way forward for the sector
What are security tokens and how will they transform ICOs?
As market infrastructure improves security tokens will replace utility tokens as the standard for crypto issuance as investors realize they offer a better economic incentive.
Blockchain – Progression in Securities Markets?
Blockchain solutions for payments seem about a dime a dozen. But less is heard about bringing blockchain to the securities industry, even though current securities post-trade processing holds a large amount of inherent risk. Is blockchain technology a viable solution for the securities markets? Does the industry want to move forward with DLT and, if so, how will this progress from use case to business case? What are the challenges and opportunities? BNY Mellon’s Tom Casteleyn explains the latest blockchain and DLT trends impacting the securities industry.
SEC announces ‘Cyber Unit’ to investigate ICOs and DLT
The Securities and Exchange Commission (SEC) has announced a new initiative that it says will address “cyber-based threats and protect retail investors”. Branding its new division the Cyber Unit, the SEC says it will focus on offenses related to misconduct using the dark web and violations involving distributed ledger technology and initial coin offerings
The Ontario Securities Commission offers clarity on Blockchain based securities
The Ontario Securities Commission (OSC) announced on Wednesday that Canadian businesses using blockchain technology in their financial products or service offerings may be subject to Ontario securities law requirements. The announcement states the many uses of distributed ledger technologies (DLT), such as blockchain, have the potential to increase transparency and efficiencies in our capital markets. “We are keen to support this type of innovation," said Pat Chaukos, Chief of the OSC LaunchPad.
IOSCO Research Report on Financial Technologies (Fintech)
This report is the result of extensive collaboration among different IOSCO Committees, with overall coordination by the Vice Chair of the CER.. The Report studies the evolution of Fintech and its intersection with securities market regulation in alternative financing platforms, retail trading and investment platforms, institutional trading platforms, distributed ledger technologies, fintech developments in emerging markets and regulatory considerations.
Equibit: building a decentalised securities platform
In the days before computerised trading and centralised electronic stock systems Wall Street depended heavily upon messengers delivering paper certificates by hand. In 1968, the New York Stock Exchange facilitated 12 million trades in one day. Wall Street back offices attempting to settle and clear these trades were overwhelmed, and the messengers could not keep up with the demand.
Distributed Ledger Technology: Implications of Blockchain for the Securities Industry
This paper is intended to be an initial contribution to an ongoing dialogue with market participants about the use of DLT in the securities industry. Accordingly, FINRA is requesting comments from all interested parties regarding all of the areas covered by this paper. FINRA also requests comments on any related matters for which it would be appropriate to consider additional guidance, consistent with the principles of investor protection and market integrity, based on DLT applications and their implications for FINRA rules.
A Securities Law Framework for Blockchain Tokens
This document is a general guide for developers and users of tokens. Part 1 âis designed to estimate how likely a particular token is to be a security under US federal securities law. Part 2â sets out some best practices for crowdsales. Part 3â is a detailed securities law analysis by Debevoise & Plimpton LLP.
German Central Bank testing blockchain technology
The German Central Bank, Deutsche Bundesbank, and the operator of the country’s stock exchange, Deutsche Börse, recently announced a research blockchain. “The Deutsche Bundesbank hopes that this prototype will contribute to a better practical understanding of blockchain technology in order to assess its potential," said Carl-Ludwig Thiele, Member of the Board of the Deutsche Bundesbank.
Powering the flow of global capital
In the summer of 2016, Deutsche Bank Global Securities Services commissioned a survey of 200 market participants, to examine what was driving the key players in the industry and influencing their strategic thinking. Volatility remains top of the list for more than half of the institutional investors, banks, financial sponsors, brokers and sovereign wealth funds we surveyed. But beneath that turmoil, they highlighted very specific challenges and opportunities.
All You Need to Know About Initial Coin Offerings
Understand the increasing tension between business model innovation and securities regulation
Discussion Paper: The Distributed Ledger Technology Applied to Securities Markets
ESMA is seeking feedback from stakeholders on the possible use of DLT in securities markets, its potential benefits and the risks that such broader use may pose. In the Discussion Paper, ESMA analyses the potential benefits of DLT such as higher security, greater efficiency in clearing and settlement and reduced costs.
