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The security token provider Inx cannot relate to Coinbase's second problems

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Veröffentlicht am 01.08.2022

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After the successful regulated ICO, Inx is now working with other companies on compliance solutions that Coinbase claims that the SEC refuse to establish new rules is unfounded, the deputy CEO of Inx to Blockworks during Coinbase told the SEC about the correct classification of crypto assets, says the security token inx. he has been sticking to the rules for years. Inx, an stock exchange that makes it easier to list regulated securities token, was founded in 2017 at the peak of the foundation Coin offer boom (ICO). Since the new form of crowdfunding caused increased official control, the company decided to ...

The security token provider Inx cannot relate to Coinbase's second problems

• After the successful regulated ICO, Inx is now working with other companies on compliance solutions
• The claim of Coinbase that the SEC refuses to establish new rules is unfounded, the deputy CEO told Inx to Blockworks

While Coinbase continues his disagreement with the SEC about the correct classification of crypto-assets, the security token provider Inx says that he has been sticking to the rules for years.

Inx, an stock exchange that makes it easier to list regulated securities token, was founded in 2017 at the height of the foundation Coin offer boom (ICO). Since the new form of crowdfunding resulted in an increased official control, the company decided to adhere to strict regulatory standards, said Itai Avneri, deputy CEO and Chief Operating Officer.

"At that time we made a strategic decision that we would do it in the right way," said Avneri. "While others ran away from regulations, we went to the front door and basically came to the Sec and said that we wanted to do a regulated ICO."

Inx was the first company to carry out a token IPO with the approval of the SEC in 2021. The platform collected $ 85 million of more than 7,000 private investors. After completion of the token offer, Inx wrote down the INX security token for the secondary market on its alternative trading system, the Inx Securities platform.

The latest from Coinbase

The SEC claims that nine tokens (amp, rly, ddx, xyo, rgt, lcx, powr, dfx and krom) are securities and as such Coinbase could not act without a broker dealer license that Inx has, said Avneri.

"[in the petition, coinbase] said that the Sec was not ready to write new rules," said Avneri. "I say that they are wrong because the SEC is already working with us."

The recent complaint of the SEC underlines the need for companies and projects to think critically before the introduction of tokens, said Renata Szkoda, Chief Financial Officer from Inx.

"It is such a critical moment for these projects and companies, to consider whether they are regarded as security or not if this token is issued," said Szkoda.

"Unfortunately, many tokens have been created and I do not know if this consideration has ever received full attention."

Inx now works with other companies to help with the issue of digital securities and the procurement of capital by providing licensing, technology, marketing, compliance services. Last month, Inx entered into a partnership with Trucpal, a digital financial and tax bookkeeping software for the Chinese freight market, to start a token offer.

"I want to stop and acknowledge how revolutionarily this type of investment is for a normal investor," said Szkoda. "It really makes the investment process much more open to the general public."

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The Post Security Token Provider Inx Cannot Relate to Coinbase’s Sec Woes is not a financial advice.