Former SEC and CFTC Regulator Joins TokenSoft

Former SEC and CFTC Regulator Joins TokenSoft

TokenSoft, a San Fransisco-based security token issuance and guidance platform, have announced the hiring of Alex C.Levine as their Chief Legal Officer (CLO) and President of DTAC, the company’s affiliate stock transfer agent. Levine’s former regulatory roles include spells at the U.S. Securities & Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC).

Levine’s CV also shows previous experience at Chicago’s equity derivatives clearing house, the Options Clearing Corporation (OCC), which is one of only eight entities currently designated as a systemically important financial market utility (SIFMU) because any failure or disruption to their services would be deemed to be a threat to the stability of the U.S. financial system.

In the cryptocurrency arena, Levine has held legal positions for Pangea, TrustToken, and LedgerX.

Secure and Compliant

Explaining his decision to join TokenSoft, Levine said, “The regulatory framework for blockchain and cryptocurrency is rapidly evolving, and TokenSoft is at the forefront of paving a path of compliance for top-tier financial institutions looking to issue digital assets.”

With the initial aim of providing secure and compliant token issuances, TokenSoft now supports launches on multiple blockchains and distributed ledger technologies (DLTs) including Ethereum, Tezos, Stellar, Corda, Hyperledger, and Liquid.

Last November, Mason Borda, TokenSoft CEO, noted how the SEC was increasing its overwatch of initial coin offerings (ICOs) and advised that, “We believe that the SEC is not finished reviewing past token issuances and will continue to come out with enforcement actions.”

Subsequent court cases have confirmed Borda’s assessment and appear to have given weight to his opinion “…that companies looking to issue a compliant digital asset will be best served by working with reputable law firms and partners.”

TokenSoft state they have experience in supporting both U.S. registered and unregistered offerings and work in other jurisdictions such as Switzerland, the European Union and Singapore.