Token Alliance Group Seeks ICO Frameworks

Announcements, FinTech, ICO News, Investing, News, Regulation | September 18, 2017 By:

The growing number of initial coin offerings (ICO) and increased scrutiny by the US Securities and Exchange Commission and other regulatory bodies has led to the formation of the Token Alliance, which seeks to shape this emerging market.

The industry-led initiative will promote responsible growth of token and digital asset issuances and recommed legal frameworks and protections. The Token Alliance is co-chaired by Dr. Jim Newsome, the former Chairman of the US Commodity Futures Trading Commission (CFTC), and Paul Atkins, a former US Securities and Exchange Commissioner.

“With the SEC’s recent findings regarding ICOs, combined with the CFTC’s determinations and enforcement, it is clear that proactive industry efforts are imperative and timely,” said Newsome, who is also a Founding Partner of Delta Strategy Group. “I look forward to helping shape the dialogue and enable this innovative technology to progress for the benefit of industry and consumers.”

Atkins said the Token Alliance “will serve a much needed role in helping the industry establish for itself appropriate guidance for this new and exciting asset class. I’m thrilled to be a part of this initiative and bring my service as a former securities regulator to help foster this ecosystem.”

The initial participants of the Token Alliance: Alluminate, AlphaPoint, Bankcoin Global, Blake Cassels & Graydon, Bloq, CMT Digital, Cognizant, Cooley, Crowell & Moring, Elliptic, Gem, Hashed Health, Loyyal, Microsoft, Netki, Node40, Parsons & Whittemore, Perkins Coie, Polsinelli, Qtum, Reed Smith, Rimon Law, Rivetz, Steptoe & Johnson, t0 and Tally Capital.

“As with all new technologies, it is important to set appropriate guidelines to curb potential abuse, while protecting innovation,” said Perianne Boring, Founder and President, Chamber of Digital Commerce. “We look forward to working with our members to continue to promote and advocate for the power of the blockchain.”

The Token Alliance is open to participants from across technology, legal, advisory and other sectors, with an expertise in blockchain technology. Companies interested in learning more and participating are encouraged to contact the Chamber of Digital Commerce at: policy@digitalchamber.org.