TokenIQ’s Aleksander Dyo Discusses SEC Crackdown
Token IQ, a platform founded in 2017, focuses on SaaS blockchain technology to delver turnkey solutions for securities tokenization and asset-backed investment contracts. The company features technology that enables issuers to convert rights to an asset into a smart and fully-compliant digital token on the blockchain. This system essentially eliminates the middlemen, it reduces fees, and it creates a frictionless environment.
Aleksander Dyo founded the platform and he recently discussed the SEC’s heightened scrutiny of blockchain and ICOs. He stated:
Most importantly, the latest round of SEC mandated ICO subpoenas will signal ‘safe passage’ to the rest of the industry as the hearings conclude, penalties are enforced, and some much clearer definitions of how digital assets should be treated – what are securities and what are not – come out of the rulings. Evidently, however, the SEC continues to point to what they always have in these cases: the litmus tests they’re used for 85 years and are already apparent in the current situation.
There is now, more than ever, an opportunity to make things right when it comes to a compliant and truly democratized way of fundraising for digital securities. The early adopters of ICO concepts are probably seeking a better guidance from legal counsel. It is apparent that these offerings have plenty of unextracted value to add to the world, once the ownership representation and securities rules are structured appropriately, and they engage with the right company to deliver their STO with all the compliance in place.
The more that rulings get put out into the open like this, the more this will help the industry at large. As others are able to point to more cases and rulings against things, which ICOs cannot perform in a capital raise (actions which are currently being carried out with lack of regard for securities laws), it will help to write the rulebook in the same breath; through sophisticated process of elimination and enhancement.
Hopefully, one of the results of more news like this coming to light will be that companies will realize they need to more carefully consider the state of completion for their respective projects. Before attempting to gain public visibility, proper legal jurisprudence is required and compliant technology platforms, such as Token IQ engaged.