TokenSoft, a leading technology and security platform for companies seeking to issue assets on the blockchain, has joined Blockchain Association (BA), the first US-based cryptocurrency lobbying group.
In an official announcement, the platform said the move aims to “educate regulators and elected officials on the advantages of utilizing blockchain technology and the need for responsive, national regulatory standards.”
Kristin Smith, BA’s executive director, said:
“Securities law remains a vital issue and the TokenSoft team provides important perspective in support of a pro-business and pro-consumer regulatory solution.”
TokenSoft joins hands with high-profile blockchain firms and software veterans to charm policymakers and other regulators who have already showed interest in the industry.
The company stated:
“The Blockchain Association plays a key role in fostering dialogue with regulators and policymakers on the benefits of blockchain technology. While the Blockchain Association represents many voices bringing value to the blockchain arena, its leadership understands the specific challenges and opportunities facing TokenSoft.”
Alex Levine, TokenSoft’s chief legal officer, will co-chair BA’s newly-formed Security Token Working Group. Levine has been appointed as TokenSoft’s chief legal officer in December 2019. In addition, he leads the company’s subsidiary DTAC.
Move to bolster blockchain adoption
The partnership aims to enhance the public policy environment so that blockchain networks can flourish in the country.
TokenSoft, a blockchain firm specialized in the issuance of security tokens, has acquired a stake in a company licensed by the U.S. Securities and Exchange Commission (SEC), which paves the way for it to operate as a licensed broker dealer. The deal strengthens the regulatory footing of the company to offer a broader variety of blockchain-based securities. In addition, the acquisition allows the company to perform its activities as per regulations.
The association has supported several blockchain firms facing legal issues. For example, it has submitted two amicus curiae briefs for Kik and Telegram in 2020. Both companies are facing litigation from the SEC.