ChainCatcher news, European cryptocurrency platform Bitpanda offers EU-regulated security tokens to retail investors.The first security token available on the Bitpanda platform is Steelcoin, which is a "regulated, transferable security" under the EU Prospectus Regulation, tracking the value of selected steel products.

ChainCatcher news, according to the Hong Kong Commercial Daily, HKbitEX co-founder and Chief Strategy Officer Lu Tingkuang stated that the license for crypto assets in Hong Kong can simultaneously provide trading for cryptocurrencies and security token offerings (STO). This is actually more convenient than in Singapore and the United States, as licenses in most other countries and regions can only offer one of the services, rather than both. For example, Coinbase, which is already listed in the United States, can only provide cryptocurrency trading with its license.Although some may believe that Hong Kong has been relatively conservative in the development of the virtual asset market in the past, which has led some crypto giants to feel disheartened and exit the Hong Kong market, in fact, Hong Kong has been carefully observing before deploying, and thus has seen results in recent years.In addition, the Securities and Futures Commission has made it clear this year that STO investments may be open to retail investors to attract more funds and fintech talent to Hong Kong.

ChainCatcher news, according to The Block, cryptocurrency trading service company Elwood Technologies has received approval from the UK's Financial Conduct Authority (FCA). Elwood stated that the authorization is related to its execution management system for security tokens and derivatives, which allows its clients to connect to cryptocurrency exchanges and over-the-counter trading.It is reported that Elwood was founded by Alan Howard, the former CEO of Brevan Howard, who remains the majority shareholder.According to the crypto data platform RootData, in May 2022, Elwood Technologies completed a $70 million Series A funding round, led by Goldman Sachs and Dawn Capital, with participation from Barclays, BlockFi Ventures, Digital Currency Group, Flow Traders, and Galaxy Digital Ventures, among others.

ChainCatcher news, according to Caixin reports, Hong Kong's licensing system for virtual asset trading platform operators is essentially a "dual-license" system. In addition to the licensing system for "security tokens," which applies to the Securities and Futures Ordinance, there is another licensing system for "non-security tokens," which will officially take effect under the Anti-Money Laundering Ordinance starting June 1, 2023.Currently, several virtual asset trading platforms, including OSL Exchange and HashKey Exchange, are applying for the second type of license, but no licenses have been granted yet.The Hong Kong Securities and Futures Commission previously stated that the terms and characteristics of virtual assets may evolve over time, and the defining criteria for "security tokens" and "non-security tokens" may also change. Therefore, to ensure compliance, virtual asset platforms should hold dual licenses.

ChainCatcher news, during the main event "The Future of Tokenization" at the 2023 Hong Kong Web3 Carnival, Xiao Feng, Chairman of Wanxiang Blockchain and HashKey Group, delivered a closing keynote speech titled "The Three-Token Model of Web3 Applications." He stated that the applications of Web3 will inevitably meet various demands. The token model at the application layer of Web3 is different from that of the underlying protocol. The underlying protocol is a single-token model that should be unified globally, while the application protocol is a three-token model, with each application scenario having its own characteristics. In the three-token model, the first is NFT (value of data, products, and services), the second is functional Token (value of usage rights), and the third is security Token (value of ownership, which is equity value).

ChainCatcher news, investment platform Republic has completed a $3 million financing through the issuance of a new security token "Republic Core" under the Reg CF financing product. According to the Reg CF offering documents, "Republic Core" utilizes the Algorand blockchain and is issued in digital form, with asset management functions provided by smart contracts.Additionally, according to the crypto data platform RootData, Republic previously raised $16 million in 2020 by selling Republic Note security tokens. (source link)

ChainCatcher news, the Financial Services Commission (FSC) of South Korea officially announced the guidelines for Security Token Offerings (STO) on Monday. Examples of digital assets that may be classified as securities include those that provide shares of corporate operations, dividends, or residual rights, or allow issuers to allocate profits generated by the business to investors' assets. Cryptocurrencies or other digital assets with characteristics of securities will be regulated under the Capital Markets Act, while those outside that definition will be regulated under the digital asset regulations currently being prepared.The FSC stated that the class security characteristics of cryptocurrencies and other digital assets will be determined on a case-by-case basis. Issuers and brokers, such as cryptocurrency exchanges, will be responsible for conducting such assessments in accordance with regulations. The new guidelines aim to prepare the financial sector for the upcoming legalization of security token issuance and distribution, allowing entities to issue such tokens directly without financial institutions, and planning to establish an over-the-counter market for these tokens.The FSC will submit a proposal in the first half of 2023 to incorporate these updates into existing financial laws. In addition, South Korea's largest securities firm, Shinhan Securities, announced on Monday that it has formed a so-called "STO Alliance" to expand the security token ecosystem. (forkast)

ChainCatcher news, according to a report by Yonhap Infomax, a financial news department under the Korea Economic Daily, Shinhan Investment Corp. is set to establish a private agreement group related to Security Token Offerings (STO) as early as next week, possibly named the "STO Alliance." This group will include member companies directly or indirectly related to STO business, aiming to coordinate and communicate with authorities.ChainCatcher previously reported that South Korea will allow the issuance of security tokens, with the STO issuance and circulation guidelines expected to be announced earlier this month. (Source link)

ChainCatcher news, the head of the committee for the Busan Digital Asset Exchange in South Korea stated that the exchange is expected to launch in the second half of the year, supporting Security Token Offerings (STO) and virtual asset trading. It was mentioned that to avoid conflicts of interest, the Busan Exchange will separate custody and settlement processes, and the listing review will also be conducted separately.Previously reported, in December last year, Busan City in South Korea announced plans to build a blockchain-based decentralized digital goods exchange this year, covering tokenized trading of movies, game IPs, precious metals, agricultural and livestock products, ships, real estate, and more, with plans to start operations within this year. (Yonhap News)

According to ChainCatcher news, the chairman of the Financial Services Commission (FSC) of South Korea, Kim Joo-hyun, stated that the issuance of security tokens (STO) will be allowed and a secure token circulation system will be established. "It will be advanced rhythmically through the proposal of guidelines, sandbox testing, and formal institutionalization, institutionalizing the over-the-counter circulation platform," and the guidelines containing the regulations for the issuance and circulation of STO will be announced early next month. (Source link)

ChainCatcher news, according to Newsis, the Financial Services Commission of South Korea will release guidelines for security tokens in January 2023. It is reported that security tokens are securities issued in the form of tokens using blockchain technology.An official from the Financial Services Commission of South Korea stated, "Recently, there have been multiple incidents related to virtual assets, and people's attention to related regulatory systems has increased. Guidelines and policies should be introduced as soon as possible." (source link)

ChainCatcher news, according to a report by the Wall Street Journal citing sources, the U.S. Federal Trade Commission (FTC) is investigating Visa and Mastercard. For the past few years, the FTC has been looking into whether Visa and Mastercard have been preventing merchants from processing payments through other debit card networks. In recent months, the FTC has expanded its focus to security tokens, investigating whether Visa and Mastercard have been limiting the information they send, thereby restricting online payments through different networks. It is currently unclear whether this investigation is new or part of a previous inquiry. (WSJ)

ChainCatcher news, according to Forbes, the international sailing competition SailGP has announced that it will form a professional sailing team owned and operated by a DAO, which complies with U.S. securities laws. The DAO plans to be run by its members and built on the blockchain platform NEAR, issuing both security tokens and fan tokens. The security tokens represent ownership of the sailing team and will be offered to 2,000 accredited investors, while those who purchase fan tokens will have the right to vote on team decisions. The DAO, which meets SailGP's entry requirements, is expected to be established as early as this month. The community-led organization will need to decide whether to form a new team or purchase an existing team from one of the current nine national teams.It is reported that SailGP was co-founded in 2018 by billionaire Larry Ellison and world champion Russel Coutts, and launched NFTs on NEAR earlier this June. (source link)

Chain Catcher News, the cryptocurrency exchange operator INX (The INX Digital Company) has launched a new version of its exchange, INX One, which has listed cryptocurrencies and security tokens for trading, and also allows companies that have registered their security tokens with the U.S. Securities and Exchange Commission to offer sales, similar to an initial public offering.It is reported that INX is the first company to complete a registered security token offering with the U.S. Securities and Exchange Commission (SEC). (CoinDesk)

Chain Catcher NewsTo promote the development of the issuance of security tokens in Hong Kong, the Deputy Secretary for Financial Services and the Treasury, Chen Haolian, the Director of the Licensing Division of the Securities and Futures Commission (SFC), Huang Lexin, and the Financial Technology Director of the Invest Hong Kong, Liang Hanjing, jointly hosted two meetings on September 14 and 16 to meet and communicate with the industry of security token issuance. In mid-August, the government held a closed-door meeting with a group of leaders in the virtual asset industry, and last week's meetings were to follow up on subsequent matters.Chen Haolian pointed out that security token issuance has already taken place in Hong Kong. During last week's meeting, it was learned that more than a dozen potential token issuers are very interested in security token issuance. He emphasized that the government is committed to supporting the robust development of financial technology in Hong Kong, including security token issuance. Chen Haolian stated, "The Hong Kong Special Administrative Region Government supports the development of financial technology to provide a wide range of innovative financial services for society to support the development of the real economy. We support the sustainable development of security token issuance business in Hong Kong, provided that it meets relevant regulatory and compliance requirements to ensure investor protection and combat money laundering and terrorist financing."Huang Lexin expressed the SFC's support for the virtual asset industry, particularly the issuance of securities using distributed ledger technology, which helps improve efficiency, transparency, and reduce costs. In addition, Huang Lexin clarified a series of issues and dispelled many doubts and market misunderstandings, including security token issuance, the SFC's regulatory principles, and the latest regulatory directions in this field. Huang Lexin added that if any company is interested in security token issuance, they are welcome to discuss their plans with the SFC's Financial Technology team. (Source link)

According to Chain Catcher news and reported by CoinDesk, the security tokenization infrastructure company Ownera has completed a $20 million Series A funding round, with participation from JPMorgan, LRC Group, Draper Goren Holm, tokentus Investment AG, Accomplice Blockchain, Polymorphic Capital, The Ropart Group, and Archax.It is reported that Ownera is developed based on the open-source protocol FINP2 P, supporting any type of security tokenization engine on any public or private blockchain as well as traditional ledgers. Clients can access a unified digital securities wallet, allowing users to invest, trade, and lend tokenized assets. (Source link)