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The Blockchain Association (BA) Gets a New Member: TokenSoft

Man touching a blockchain concept

The Blockchain Association (BA) is a lobby organization based in Washington DC that aims to assist in promoting blockchain technology in business and government.

Launched in September 2018, it works mostly towards improving public policy surrounding blockchain and helping towards the formation of constructive legislation. Much of their work involves educating regulators and government officials on the many benefits of blockchain technology.

Some of its famous members in the cryptocurrency sphere include Ripple, Coinbase, Kraken, and the Digital Currency Group (DCG). Now it has found a new member in the form of the tokenized asset management firm TokenSoft. In an announcement on Medium, TokenSoft CEO Mason Borda speaks of the companies enthusiasm to provide “guidance to regulators and policymakers through the Blockchain Association’s Security Token Working Group.”

The newly-formed Security Token Working Group will be co-chaired by TokenSoft Chief Legal Officer Alex Levine. Its planned objectives include developing regulatory clarity, enhanced compliance, and great automation. Legal issues surrounding securities in the cryptocurrency sector continue to be met with confusion. Ripple’s XRP token, in particular, has faced scrutiny following a lawsuit alleging that the token is an unregistered security.

“Securities law remains a vital issue and the TokenSoft team provides important perspective in support of a pro-business and pro-consumer regulatory solution,” said the Blockchain Association’s Executive Director Kristin Smith in welcoming TokenSoft to the team.

ECB Considers Digital Currency

Across the pond, the European Central Bank is getting more involved in digital assets following a refreshed interest in the development of a central bank digital currency (CBDC). Former ECB President Christine Lagarde was highly supportive of the idea back in late 2019 when she pushed for accelerated development of a digital Euro.

Now, in light of cash supply problems due to the ongoing COVID-19 pandemic, ECB board member Fabio Panetta has resurrected the idea. In a blog entry posted today entitled “Beyond monetary policy – protecting the continuity and safety of payments during the coronavirus crisis”, Panetta writes:

The ECB is also exploring possible future avenues by assessing the case for issuing a “digital euro” [] which could be used by intermediaries or even by citizens through their electronic devices for their day-to-day spending needs.”

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