TokenSoft to Launch Knox Wallet

Knox Wallet is a security token storage solution for institutional sector with multi-sig support
30 January 2019   305

TokenSoft launched a cold storage service for security tokens.

The beta version of the security tokens wallets service called Knox wallet supports the multi-signature feature. The solution is focused on the corporate sector and is suitable for storing both conventional cryptocurrencies and digital assets with characteristics of securities.

As real-world assets enter the blockchain world, it’s important to protect them with the same level of security we treat traditional digital assets. We see this of critical importance given that almost $1 billion of cryptocurrency was stolen by hackers in the first three quarters of 2018 alone.

Mason Borda

CEO, TokenSoft

The wallet supports ERC20, DS-20 (Securitize), ST-20 (Polymath) and R-tokens of the Harbor platform. It is also friendly with assets that are more familiar to the community, such as Bitcoin and Ether. However, Borda stressed that the developers focused specifically on security tokens, and not on cryptocurrencies. On the other hand, such tokens can be issued on Ethereum, Stellar blockchains, as well as on R3 or Hyperledger platforms.

The release of a full version of the wallet, available to a wide range of market participants, is expected in the coming months.

Gladius to Register Token as Security & Refund Investors

Startup self-reported in SEC on unregisted securities offering and cooperate with Commission, so it won't be fined
21 February 2019   104

Cryptocurrency startup Gladius Network LLC has informed the US Securities and Exchange Commission (SEC) about the sale of unregistered securities. On February 20, the SEC filed relevant charges.

During the ICO, the Gladius project raised $ 12.7 million in cryptocurrency equivalent for the development of a network for leasing computing facilities to protect against cyber attacks. The SEC stressed that the startup did not register their tokens as securities, as required by federal law, and did not agree to exclude them from the rules in the legal manner.

Moreover, tokensale was held after the publication of the SEC report on the situation with The DAO, in which the regulator stated that ICO can offer securities.

The press release says that Gladius contacted the SEC in the summer of 2018 and expressed interest in cooperating with the investigation. Thus, the agency refused to levy a fine, because the startup voluntarily agreed to return the funds to investors who require it and register the token in accordance with the provisions of the Securities Act of 1934.