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Permissioned blockchains are, in fact, nothing new. JPMorgan, Citigroup, Wells Fargo and dozens of different monetary establishments already use them, and by all accounts, they perform completely nicely as inside, proprietary distributed ledgers. However that doesn’t imply they will help securities that meet the U.S. Securities and Alternate Fee’s Howey Take a look at. Whereas stablecoins, utility tokens and true cryptocurrencies could make the case – efficiently or not – that they’re not securities, safety tokens are completely issued with that intention. There isn’t a fig leaf. They’re bought for the aim of elevating capital.
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