The recent presentation by Fabio at Neo Devcon covered a lot of topics but didn’t mention the license to trade securities.
I understand the team wants to avoid setting timeframes at all cost as a “lesson learned” from the experience obtaining registration as a security for the NEX token.
My question is: is the Nash team still pursuing the license for the Nash Exchange to trade securities? Are the team willing to provide any information on how it is going? Is anything on this front likely to change (will they give up if it proves to be to difficult/unlikely to get approval)? The reason I ask is because I expect it to be extremely complex and expensive (legally) to pursue this and wasn’t sure if it was still being done.
I’m sure they will still be pursuing such a license, just as the banking license which provides them the ability to act as a bank and trade fiat pairs. The securities license will be essential to trading their own token. I cannot seem to find a reason why they would no longer pursue such a license.
I think they are indeed quite silent about it because they do not want to give any false hopes, just like we had when they extended the ICO due to a lack of licenses.
I completely agree, but just as Bakkt has been delayed by (is waiting to launch due to) the regulator. AND the BTC ETF is awaiting regulatory approval pending resolution of a range of issues with regards to custody of assets. Like the above examples, both of which are breaking new ground, licensing a security token exchange will be massively complex especially given that no regulator would have the prior experience and its all being learned as they go. And so at the very least it will take a looong time and nothing is guaranteed.
The last it was mentioned was Fabio saying Q2 is unlikely. Let’s hope for Q3 or Q4 as would be great to see Nex and potentially other securities trading on Nash this year.
Getting licensed by the FMA could be more straightforward than the US for example. As they already got approval for the token sale and no doubt laid out their future plans at the time.
Then again, if they have the license in Liechtenstein, which is a European country and in the European Economic Area (EEA), that should convince Trump and his allies to grant Nash the required license.
Yes, we are pursuing the broker dealer license (required to trade securities) and many others. We will update the community on the status of those licenses when it makes sense to do so. For example, we’ve already publicly announced progress on the many state licenses we are going after to enable trading in the United States.
That’s not weird… Switcheo isn’t allowed to trade NEX token…
Nash is doing everything by the rules, that’s why Nash will stay here for the next decades and Switcheo will disappear like a mouse in a cat’s stomach in 2020.
Without Switcheo the Token Price would not have changed. Still be $1 per token. So tell me…are those tokens legit from them or not? I dont think Switcheo would take the risk if it meant to close their exchange. It is not worth it at all.
NEX is a revenue sharing token whereas theirs is a utility token. No different to 99.99% of tokens out there.
The approval Blockstack received allows them to be able to sell their tokens to the general public in the US, as opposed to only accredited investors which they done in a previous round under Reg D. Nash also did the latter during the sale.
You’re joking right? Nex was trading on OTC platforms, Aphelion and Tokok before Switcheo decided to join in and make some profit.
Regardless, Switcheo and other exchanges do not have the required licences to trade a security like Nex. Peer to peer is probably the best way to get Nex for now.
Why don’t you relax and watch the team’s efforts yield fruit. Patience.
