There’s been no shortage of controversy surrounding ICOs the past few weeks.
We’ve seen warnings from the SEC. China outright banned ICOs. And Korea, Singapore, and Russia all issued warnings too.
But now there’s a potential solution on the horizon, the TXSRB, or The Tokens & Exchange Self-Regulating Body.
The goal of the TXSRB is to enroll the participation of the crypto community to set the rules and regulations for the community. That way the true crypto majority, and not the government or some other institution, gets to set the standards.
You can register on the website here.
The guy behind the TXSRB is John Gotts. He’s also involved in a project called Stokens. More on that in a moment.
Based on what I’ve read on the TXSRB website and from the Stokens white paper, John knows a lot of important people in the cryptocurrency space. So it does appear TXSRB is a legit project.
The TXSRB put out a “Clean List” on August 31. Those are tokens that are not considered securities.
So far on the list: BTC, BCH, DOGE, LTC, XMR, PPC, ZEC, BTS, ETH, ETC, XLM, FCT, SC, STEEM, and LBRY. I don’t believe this is a completed list yet. If you check out the Stokens whitepaper you’ll see that GAME, MGO, RADS, HMQ, BLOCK, and DASH are also non-security tokens.
It's great to see STEEM on the Clean List.
Now, be aware that there is a “Toxic List” coming out on September 14. I really don’t like their choice of words for naming this list. If the idea is to distinguish between a non-security and security token, then using the word toxic is a disservice.
But it makes sense when you learn about Stokens.
Stokens, short for security tokens, is a platform for legal, tradeable digital securities for accredited investors.
It believes it is the solution for the current ICO regulatory issues.
So if you want to stay off the toxic list you’ll want to use Stokens.
It’s a good start. But it’s really unfortunate it’s only for accredited investors. That’s not really an ideal solution when you leave the majority of investors out. Especially in crypto.
The real question in the short-term is which altcoins will make the Toxic list.
One I know for sure will be on there is Lykke (LKK). It may be a security, but I wouldn’t call it toxic.
What altcoins do you think will make the Toxic list?
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