Crypto space is spreading the wings
Not so far ago we talked about cryptocurrencies, now we use the term digital assets. This is actually a big step forward for the crypto industry like »That’s one small step for a man, one giant leap for mankind«. Why?
The tokenization of the securities is the answer. This is a big change for the global financial industry. IPO’s, few of ICO’s, now STO’s. If you think about that, you will notice that every development step is made in the direction of a less complicated collection of needing assets, achieving this goal faster, cheaper and getting better publicity of the interested public. This will be even more important in the future when a recession hits. Companies will strive for capital, investors will seek for the investment which will protect and multiply their hard-earned money. Remember the boost of the crowdfunding platforms.
Regulators have also recognized this trend.
SEC orders Block.one (EOS) to pay 24 mill$ penalty for unregistered ICO and Block.one agreed to settle the charges by paying 24mill$ civil penalty. Block.one did not register its ICO as a securities offering pursuant to the federal securities laws, not didn’t qualify for or seek on exemption from the registration requirements. Stephanie Avakion, Co-Director of SEC’s Division of Enforcement stressed out:« Companies that offer or sell securities to US investors must comply with the securities laws.«
This is a big win for the Block.one since they raised 4,1bil$ in the previous ICO action. And this is also a big news for the entire crypto space since we are witness of transformation from only »crypto assets« to »crypto stocks« and I believe »crypto bonds« in the near future already recognized by the regulators such as SEC.
But who will be the winner of this trend? Definitely the ones that adopt to the situation first. So, get your PalmaBot, be informed and do something good to yourself.
( Written by COO of PalmaBot, GB )
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