For Immediate Release
Sept 28, 2020, 17:01 EEST
TALLINN, ESTONIA — ‘Sports D³’ (‘D-Cubed Ventures OÜ’), a tokenization platform and digital assets exchange for the global sports industry, is pleased to announce that it has been granted an operating crypto-license by the Financial Intelligence Unit (FIU) of Estonia.
‘Sports D³’ provides professional sports teams with an innovative alternative to raising funds by facilitating crowd-formation of capital on its DLT-powered platform, where clubs are able to digitize, securitize and sell their assets to fan-investors in the form of Security Token Offerings (STO).
With the approval of a Virtual Currency Exchange and a Virtual Currency Wallet License, ‘Sports D³’ is now a fully regulated digital assets exchange, with the capability to deliver its solutions to sports clubs and their fans in 27 European jurisdictions. This milestone marks the next step in ‘Sports D³’ development and paves the way for securing the financial intermediary status and expanding into other continents. …
Gene Swinton, CEO of Sports D³ commentary instigated by today’s story in BBC News about Chelsea’s owner Roman Abramovich.
21 September 2020
Among 100s of messages that I receive every week, there’s always at least one asking about how to view the Sports D³ platform in the context of the Third-Party Ownership (TPO) restrictions ... and this means it’s time for a thread.
In instances such as the one reported today by BBC News: “FinCEN Files: Roman Abramovich had secret stakes in rival players”, the Third-Party Ownership (TPO) DOES cast a shadow of distrust and may affect the integrity of the game. …
This [video] turned out to be a more elaborate version of Nick’s article in 'Football Legal' last year, which I found to be the best piece on TPO so far not just from legal prospective, but commercial too. Thank you for sharing! Many important points were raised indeed, also glad to see the prospects of changes.
However, my main concern about the current status quo remains. The very last comment in the Q&A section about "socialism vs. capitalism” was the closest it got to my area of concern.
The role of regulator in any industry is to ensure purity and fairness of competition, ... unless it is a natural monopoly. What I find fundamentally wrong with TPO regulation in it’s current form is that FIFA, as a regulator, is mistakenly treating football industry (specifically flow of capital) as a natural monopoly. As a result FIFA’s manual ”central planning" approach to allocation/redistribution/flow of resources creates distortions (repeatedly) within various layers of the industry. …