• TokenSoft

After Recent SEC Guidance, TokenSoft to Accept Clients from Broader Set of Law Firms


May 1, 2019, San Francisco, CA -- On the heels of recent guidance about security token regulations from the SEC, TokenSoft, Inc., the leading digital asset issuance and management platform, today announced that it no longer restricts clients to use one of its previously vetted and approved law firms.


“When we launched TokenSoft, we were well aware that the legal landscape was new to blockchain-based issuances of securities. In order to mitigate legal risks, we decided to perform due diligence on a select group of law firms that shared our conservative view that digital assets should follow securities regulations,” said Mason Borda, CEO, TokenSoft.


“In retrospect, doing this helped protect our clients and encouraged them to take a more conservative approach, which has paid off given that the regulators now echo much of this sentiment. When issuers come to us today as their technology partner for a compliant issuance, they typically have already engaged a law firm for their project, and if their counsel carries the SEC’s perspective, we don’t want to be a reason for changing that important relationship.”


The SEC recently issued the Framework for ‘Investment Contract’ Analysis of Digital Assets, which gave the market more specific guidance from which to work. In addition, most larger global law firms have created blockchain practices with attorneys with pedigrees in traditional financial securities, banking, and tax regulation. TokenSoft’s sense is that market participants, including legal advisers, are now commonly taking the position that tokens are regulated instruments. The market also has the benefit of seeing an increasing number of use cases from which to learn.


“For our business, this means that we are less concerned that attorneys may allow their clients to adopt an interpretation of the regulations which carries higher risk. Now, we can serve a broader client base due to this common understanding that comes from clearer regulatory guidance.”


As 2019 progresses, TokenSoft is seeing steady interest from institutions and enterprises looking to issue asset-backed tokens or digital securities. If you’re a law firm working with issuers of digital assets and would like to learn more about how TokenSoft can help issuers adhere to applicable regulations, please reach out at https://www.tokensoft.io.


About TokenSoft

TokenSoft offers institutional-grade compliance for blockchain-based securities. The company helps clients launch and manage asset-backed tokens and digital securities on the blockchain in a compliant and secure manner, regardless of jurisdiction. Its process and suite of solutions cover the entire lifecycle of a digital asset, including onboarding, issuance, post-issuance management, and custody.

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THIS WEBSITE IS OWNED AND OPERATED BY TOKENSOFT, INC. (“TOKENSOFT”), A TECHNOLOGY COMPANY PROVIDING COMPLIANCE AND BLOCKCHAIN-BASED SERVICES FOR ISSUERS OF SECURITIES OR OTHER DIGITAL ASSETS.  TOKENSOFT IS NOT A BROKER-DEALER, INVESTMENT ADVISER, OR FINANCIAL ADVISOR.  TOKENSOFT IS NOT REGISTERED WITH THE U.S. SECURITIES & EXCHANGE COMMISSION (SEC) NOR ANY OTHER REGULATORY AGENCY OR BODY IN THE UNITED STATES OR INTERNATIONALLY.  TOKENSOFT DOES NOT GIVE INVESTMENT OR LEGAL ADVICE, ENDORSEMENTS, ANALYSIS, OR RECOMMENDATIONS WITH RESPECT TO ANY SECURITIES OR OTHER DIGITAL ASSETS. NOTHING ON THIS WEBSITE SHALL CONSTITUTE OR BE CONSTRUED AS AN OFFERING OF SECURITIES OR AS INVESTMENT ADVICE OR INVESTMENT RECOMMENDATIONS BY TOKENSOFT OR ANY OF ITS AFFILIATES OR A RECOMMENDATION AS TO AN INVESTMENT. ALL THIRD PARTY SECURITIES OFFERINGS AND DIGITAL ASSETS POWERED BY TOKENSOFT’S TECHNOLOGY ARE OFFERED BY, AND ALL INFORMATION RELATED THERETO IS THE RESPONSIBILITY OF, THE APPLICABLE ISSUER OF SUCH SECURITIES OR DIGITAL ASSETS. TOKENSOFT DOES NOT CUSTODY ANY DIGITAL SECURITIES OR DIGITAL ASSETS ON BEHALF OF ANY OF ITS CUSTOMERS OR USERS OF OUR WEBSITE SERVICES.


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