“Is my token project compliant?” Many token issuers ask themselves this question these days. The RegCheck Service Suite by The Tokenizer guides issuers through the hardest regulatory questions and helps projects become and stay compliant.
With catastrophic incidents such as the FTX crypto exchange meltdown, it has – finally – become evident to everyone that regulation and compliance are absolutely crucial for the still new and highly promising token economy to survive and thrive.
Compliance must be on top of everyone’s agenda to avoid the risk of lawsuits. Any player in this industry – startups, platforms, marketplaces, token issuers, exchanges – should ask the same question: Is my token compliant with applicable laws in the jurisdictions where we operate?
A must-have service
To assist both existing industry players and new projects and companies in their attempt to comply with rules and regulations, The Tokenizer has developed The RegCheck Service Suite.
The first three RegChecks in the suite have now been completed and launched, and more are expected to follow during Q1 of 2023. The first three types of RegChecks are:
- The NFT RegCheck,
- The STO RegCheck, and
- The Utility Token RegCheck.
Simple onboarding
To start using the RegCheck, clients are only required to:
1) sign up on the RegCheck website and complete an online questionnaire that enables the RegCheck team to understand the client’s project and establish an initial risk profile.
2) have a one-hour face-to-face meeting with The Tokenizer’s RegCheck specialists to ensure that the interpretation of the client’s project is correct.
Output: The RegCheck Report
Based on these two steps, The Tokenizer’s RegCheck team produces a customised report that delivers an overview of possible regulatory risk factors that clients need to consider across their target jurisdictions.
The RegCheck Report focuses in particular on these four key topics:
- Limitations on…
