23 Dec 2019
Former CFTC and SEC regulator, Alex Levine, has been appointed by Tokensoft as its new Chief Legal Officer (CLO). The appointment also includes another role as the affiliate transfer agent. The San Francisco-based security token platform is trying to reposition its entity to improve the services it renders to customers.
According to CEO of TokenSoft, Mason Borda, it’s very important to have Alex in the team. It’s the right step to ensure that its customers get the best security token compliance tool in the industry. Alex’s blockchain and regulatory experience in the US regulatory commission will help to reach the goals the organization set for its customers. Mason also stated that the appointment would help TokenSoft’s transfer agent offerings to meet the compliance requirements of all security offerings.
Alex has spent close to 2 decades as a legal executive and attorney on the practice of derivatives law, securities, and business regulation. For the past few years, he has worked vehemently in establishing regulatory frameworks and providing strategic guidance to a host of cryptocurrency and blockchain companies. His vast experience is exactly what TokenSoft needs to push on, Mason states.
Alex has explained his main motivation for joining TokenSoft. He said the regulatory system for cryptocurrency and blockchain is growing and evolving at a rapid pace. Interestingly, TokenSoft is at the helm of this growth as it plays a major role in ensuring that top-level financial institutions comply with the regulations in the industry. He has worked in the security compliance department of several top tier companies in a career that has spanned over 17 years.
He was the head of legal and Chief Regulatory Officer at TrustToken. The fintech firm developed the foremost regulatory compliant stablecoin, which is tied to major currencies, including U.S. dollars.
Alex said he is happy to join such a huge company with the reputation of improving the regulatory requirements for token issuance and security offerings. He has reiterated his desire to work hard to make sure Tokensoft achieves its goals within the projected time.
The aim of Tokensoft was initially to offer secure and compliant token issuance. However, the platform now offers a wide range of ledger technologies and blockchains. These include Liquid, Hyperledger, Corda, Steller, Tezos, as well as Ethereum.
Last year, Mason reported that SEC has intensified efforts on its overwatch of ICOs. He warned that SEC is still adding more updates to its review of token issuances, adding that the commission would keep enforcing new actions.
From when he made that statement to date, there have been countless cases SEC has taken against blockchain and crypto companies over ICO issuance. These cases have given Mason’s statement a level of credibility. He stated that organizations that want to provide digital compliance assets would benefit more if they work with reputable partners and law firms.
TokenSoft said it would cover ICO offerings that are either registered or unregistered in the U.S. The platform also operates in other places such as Singapore, the European Union, and Switzerland.
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