Mobu ICO to Offer New Framework for “Unambiguous” Security Token Issues

Mobu ICO to Offer New Framework for “Unambiguous” Security Token Issues

SEC chair Jay Clayton famously stated towards the beginning of the year that “every ICO I’ve seen is a security.” Others, however, are not so sure. Last week a group of lawmakers from the U.S. House of Representatives wrote to the SEC asked the regulatory body to clarify its position.

Though the signatories have ‘praised’ the Securities and Exchange Commission for its “thoughtful and deliberate approach” in applying “securities law to digital tokens and cryptocurrencies,” they also believe that “not all digital tokens are securities” and that treating them in this way “would harm American innovation and leadership in the cryptocurrency and financial technology space.”

Furthermore they believe that “current uncertainty surrounding the treatment of offers and sales of digital tokens is hindering innovation in the United States and will ultimately drive business elsewhere.”

Streamlining Tokenised Security Issues 

While the cryptocurrency space is still waiting for a clear response on the subject, one ICO is creating its own set of standards as a means to moving things along.

The team at Mobu are promising a new platform that will guarantee jurisdictional, legal and technical conformity with current regulatory frameworks – even as these are not designed specifically for token projects.   

Current regulatory requirements -along with their ambiguities – have stood in the way of established companies adopting the ICO model to raise capital. In this sense, Mobu is hoping that its upcoming standard will essentially act as a certificate of compliance 

“The securities market is a multi-trillion- dollar arena which remains virtually untouched in the blockchain space,” a spokesman for the project stated. Should tokenization make headway in the market, the hope is that such a standard will allow the ICO model to transform the current industry, whilst also transforming the ICO model itself.