For a year, encryption, money market falling, regulation has been inescapable topic, as the ICO downturn, born to regulate the STO (type securities issued tokens, English name: Security Token Offering) field for the capital market has brought the new atmosphere, also for chaos frequency ICO market to find the way out, say, STO brought opportunity for regulators to enter, also provide investors with a relatively reliable investment way,

This article will comprehensively introduces the status quo, STO and

A, what is the STO?

STO full name is the Security Token Offering, namely: securities type certificate issued, among them, the ST (Security Token) refers to the type of securities card, can be used instead of stocks, bonds and other assets of mark, and equity of traditional assets, creditor's rights, such as real estate, we can understand like this: STO is in accordance with the requirements of the regulatory situation, on the basis of real capital assets, the real assets of the ownership and the formal exchange information on the chain, to pass card as the carrier, for securities issuance,

Many will STO to the ICO, describes it as "legitimate ICO", "ICO" wearing securities, this description is wrong, as it is more like an IPO and ICO intersection, is a kind of "conforms to the legal regulation, in the case of legal release stocks issued chain", it not only has the securities property, by securities institutions (such as the SEC) and the related supervision of the securities laws and regulations, at the same time also can be issued in the form of "chain",

STO must be real capital assets of the real world, and through the regulation and qualification review, its investment threshold is higher than ICO, so safety coefficient is also higher; And its issuance of IPO is lower than a threshold, but trading convenience is greatly enhanced, due to its general certificate STO in the cross field of digital and traditional assets, on the one hand, such a digital Token and real capital assets, on the other hand it is a kind of interest, make holder can hold revenues,

Second, the characteristics of the STO

STO since there was hope, nature has its uniqueness, and we also cannot ignore its existing problems, the following small K jun list its advantages and risks:

(a) advantages

1, the assets have legal compliance, the digitized "laws"

STO compliance audit review need securities agencies, including the project code, to prevent a serious loophole investors loss; The compliance audit of project itself, the project involves industry is in compliance with laws and regulations; Team members' background investigation; Through the corresponding physical assets, profits situation such as an endorsement,

2, the assets of public offering cheaper, more efficient

Securities issued certificate can be used to mark many assets, goods and financial tools, means that smaller companies have the opportunity to quickly raise money from investors around the world, also need not bear the huge cost, especially the legal fees,

3, solve the problem of liquidity

Due to the threshold of the issuance of STO reduce, making a large number of assets can be landed at the capital market and trade, thereby increasing the asset into cash flow channels, at the same time, the tokens of infinite cutting make the asset purchase threshold is more and more low, the general public can participate in the investment,

4, corresponding assets widely

STO can application field is very broad, intellectual property rights, equity and real estate ownership, art and music copyright and other traditional assets can be used as STO, thus greatly breakthrough in the traditional sense of right segmentation and attribution,

(2) risk

1, have the disadvantages of centralized system

STO are still affected by each country and area under the regulatory framework of law supervision, due to various countries and regions of different regulatory demands, causes originally should have global circulation characteristics through the system is difficult to break through the cross-border this difficulty,

2, the reality is tightly regulated, practical difficult to carry out the

Under the present legal framework, still have a lot of similar regulations as ICO, even for the United States has STO should be brought into the regulatory countries, such as qualified investors STO qualification is strictly requirements,

In addition, due to strict censorship process, issued certificate may also exist lock on a regular basis to review, resulting in delayed onset of the deal, the circulation of convenient,

Three, STO recent condition

Based on the above, it seems all the attitude of STO are discrepancy:

(a)
China
On December 1, 2018, Beijing financial supervision bureau of city warned at a conference: "STO practitioners, if activities in Beijing, the government will be regarded as illegal financial activities will be pushed out," therefore investors are not legitimate investment in mainland China STO,

(2) of Hong Kong, China

Hong Kong is compromise, in November, Hong Kong's securities and futures commission announced that it will put encryption currency exchange into the sandbox "regulation", we could make a little try in laboratories within the scope of regulation, in the meantime, the SFC will also explore the encryption operation of the currency exchange,

And supervisor certificate of Hong Kong website "related to virtual assets portfolio management companies, fund distributors and trading platform operators regulatory framework of the statement" pointed out: the qualified institutional investors can invest in STO, but still need to review, STO is still no real contact with the public investors phase,

(3) of the United States

America's attitude toward digital assets, though hard, but in exploring, as one of the world's biggest stock market, it was more inclusive cautious attitude, in terms of STO, the first put forward the compliance in the United States, the SEC will test the project itself according to certain standards, to determine whether it is "securities", if is judged to be securities, so the project will be regulated by the SEC, on this basis to STO, otherwise will be regarded as illegal behavior,

Well, all the above is our current popular science content!

CodePudding user response:

Dry goods, to be honest, now do this quite strangely, the feeling of on line,

CodePudding user response:

Dry goods, to be honest, now do this quite strangely, the feeling of on line

CodePudding user response:

Dry goods, to be honest, now do this quite strangely, the feeling of on line

CodePudding user response:

Dry goods, to be honest, now do this quite strangely, the feeling of on line

CodePudding user response:

Dry goods, to be honest, now do this quite strangely, the feeling of on line

CodePudding user response:

Go to the bridge naturally straight, not STO O will have the next