The US token issuance platform cited automation, regulatory compliance, and properly utilizing blockchain technology as reasons for the move.
Security tokens platform TokenSoft has joined the U.S.-based crypto lobbying group Blockchain Association (BA).
The San Francisco-based token issuance platform said in an official announcement on April 27 that it would be entering the D.C.-based organization to “educate regulators and elected officials on the advantages of utilizing blockchain technology and the need for responsive, national regulatory standards.”
Announcing that the firm would be taking a leading role in the BA, TokenSoft said the move was aimed for guidance on using blockchain technology under current regulations, enhancing regulatory compliance on security tokens standards, and ultimately achieving greater automation for blockchain infrastructure.
Kristin Smith, Executive Director of The Blockchain Association said in a statement that the addition of TokenSoft to the organization would provide “important perspective in support of a pro-business and pro-consumer regulatory solution [to securities law].”
TokenSoft Chief Legal Officer Alex Levine will also be co-chairing the group’s Security Token Working Group.
Legal assistance from Blockchain Association
The BA has come out in support of other blockchain firms facing legal challenges. The organization has already filed at least two amicus curiae briefs in 2020 for Canadian messenger Kik and Telegram. Both companies are facing litigation from the U.S. Securities and Exchange Commission.
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