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The Templum regulated token trader wants to clarify how digital assets plotted or tokenized on a blockchain could fall under US securities regulations.
To this end, last week the company filed a petition with the US Securities and Exchange Commission (SEC), in which the company outlined how cryptographic assets and blockchain technology can be exploited in certain forms of transactions. on securities.
The company calls for clarity on how these nascent technologies adapt to current regulatory frameworks, said Templum co-founder and CEO, Vince Molinari. "It does not really exist in its current framework, at least in our opinion," he told CoinDesk.
The petition largely examines the market infrastructure for digital resources, some of which could be unrecorded titles.
"We encourage the SEC to provide the necessary information on post-trade activities in the digital goods space," reads the petition.
In particular, Templum is examining the SEC to explain when a blockchain platform needs to register as a clearing company or how a clearing company could use blockchain and when a blockchain platform needs to register as a transfer agent or communicate to digital property issuers when they need to use a transfer agent. It also seeks to know when the SEC could modernize the current custody and protection rules of customers to allow the blockchain used to track securities transactions.
Further clarity is needed around the different types of information stored on a blockchain. Digital resources could simply be recorded on the ledger or could be tokenized, Molinari said. Other questions concern custody rules and how they can be applied.
The Templum petition was presented as part of the company's advocacy work in the blockchain space, added Molinari. In particular, he sees digital resources moving to blockchain platforms, and soon, saying:
"I do not think this is a five-year strategy, I think 2018 has become the [year] of security tokens, I think 2019 will surprise many people in acceptance and [use] of digital resources. "
The migration of securities, particularly those not registered, to digital securities platforms could take place over the next six to eighteen months, he predicted.
"We are not creating a completely new industry, it exists today, we recognize that these are titles, [and now] we are talking about the private placement market, "he explained.
SEC image via Shutterstock
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