Jamaica: A Security Token Haven
January 24 2019 - 1:06PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
January 24, 2019 -- ADVFN Crypto NewsWire -- In the midst of
the crypto bear market that we have been experiencing since early
2018, new fundraising models have sprung up from what is looking
more and more like the ashes of the initial coin offerings
niche.
Leading these new options is the
growing security token niche that is supposed to represent a more
attractive opportunity for regulators and regulated financial
institutions to buy-in to the greater crypto movement. The problem
with security tokens and their corresponding security token
offerings so far has been the same as it still is for initial coin
offerings.
Powerful, regulated financial
institutions like national stock exchanges still refused to treat
cryptocurrencies as legitimate assets despite the examples that
countries like Gibraltar and Malta have begun to set. With this in
mind, it is reasonable to wonder when larger countries or at least,
some of the trusted banks and exchanges that reside in them will
begin to follow suit.
Reportedly, a situation has been
developing since last week which may indicate some legitimate
progress on this front. According to CoinDesk, the Jamaican Stock
Exchange has just recently completed a 60-day pilot of live trading
of security tokens on their platform, with the help of a blockchain
company called Blockstation.
Related to this, they were quoted
as saying that they basically plan to move forward with their
testing of security tokens until they are eventually traded live at
scale, just like any other asset. Once this occurs, we will finally
see a form of cryptocurrency being supported in a regulated
environment by a country that is at least slightly more well-known
in the global financial space than those that have come before
it.
Whether or not larger countries
will quickly follow suit, remains to be seen. At least, the world
will have another valuable example of how cryptocurrencies can work
in connection with existing and new regulations.
By: BGN Editorial Staff
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