Security Token news for Week ending 17 January 2020

Announcing the Daily Fintech weekly news curation on Security Tokens

Here is our pick of the 3 most important Security Tokens news stories during the week:

One. Securitize Opens IRAs to Digital Securities Investors With Partnership

Digital asset issuer Securitize has facilitated what it says is the first direct IRA investment in security token offerings (STOs). A customer of alternative investments gateway AltoIRA purchased an initial investment in security tokens representing CityBlock Capital’s $20 million venture fund, with tokens issued by Securitize.

IRA is a mainstream way for retail investors in America to get exposure to this new asset class.  We can expect other pension friendly initiatives in other jurisdictions soon.

Two. US SEC Seeks $16 Million Penalty from Token Sales Platform Operator.

The United States Securities Exchange Commission (SEC) is seeking a default judgement against token sale platform ICOBox and its founder Nikolay Evdokimov. Documents filed with the Central District Court of California on Jan. 9 order the defendants to pay over $16 million in disgorgement to the agency within 14 days of the judgement’s entry. 

This again shows why anybody operating in this market must pay close attention to regulation, particularly what the top cop (SEC ) is doing.

Three. Quantum-Resistant QAN IEO Is Officially Starting on Bitbay Exchange.

The first IEO to launch on BitBay exchange is poised to commence its token sale on January 20. QAN, an Estonia-based crypto project that proclaims to be the world’s first quantum-resistant blockchain, went live on the Launchpad on December 16.

This shows where the Security Token market is today – Blockchain centric startups launched by Crypto exchanges as an Initial Exchange Offering (IEO).

We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.

For context on Security Tokens please read the chapter on Security Tokens in our Blockchain Economy book and read articles tagged Security Tokens in our archives. 

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