tZERO and Boston Option Exchange to Join Forces

Companies are going to lauch the regulated security-tokens exchange
23 May 2018   374

The operator of the Boston Stock Exchange announced an agreement with the online retailer Overstock, which will launch the world's first regulated exchange of cryptographic tokens classified as securities or security tokens. This is reported by Bussiness Wire.

The joint venture of tZERO and BOX Digital Markets have not received a name yet, but it is already known that with its help startups will be able to list their tokens without violating the requirements of securities laws. In addition, it will allow companies whose shares are already represented on traditional exchanges, tokenize their securities and release them on the block.

tZERO has proven to be a pioneer in the development and practical use of blockchain technologies for capital markets for a number of years. tZERO’s track record and accomplishments in this innovative area, coupled with BOX’s expertise in operating a highly efficient and transparent equity options marketplace, made partnering together an easy decision and we look forward to building a world-class platform for listing and trading security tokens.

Lisa Fall

CEO, BOX Digital

Saum Noursalehi, who recently headed tZERO, after leaving his post Patrick Byrne, regards the initiative as an "important point" in the way of integrating the crypto-currency markets into traditional finance.

Our partnership with BOX Digital Markets is a significant milestone that will create the first SEC-regulated exchange designed to efficiently trade crypto securities. Lisa Fall’s leadership, reputation and deep experience in the regulated securities exchange industry will be a major asset in achieving this objective. Together, we will continue to work with the SEC as we develop a first-of-its-kind platform that will integrate blockchain capital markets into the current U.S. National Market System.

Saum Noursalehi

Head, tZERO

BOX Digital will manage the exchange of tokens and will negotiate with regulators, while tZero will provide financing and license its own technology based on the blockchain, which will form the basis of the new platform. 

Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   92

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.