RE:RE:RE:RE:RE:Beaxy Exchange Halttwentyfourcarat wrote:
Still on topic of regulation:
MetalStream's gold-backed token MSGLD is a regulated security issued with International Securities Number MYA165612B00
MetalStream's equity-backed token MTLSTR is a regulated security issued with International Securities Number MYA165612A01
https://medium.com/metalstream/the-importance-of-regulation-security-tokens-isin-numbers-ba88db9c5b33
DSX Asia (which has plans to launch MS tokens and another 20-30 security tokens) has exclusive 5 year Asia Pacific licence agreement with Tokeny:
https://www.linkedin.com/pulse/evang-eli-sing-tokenization-mainstream-ian-fong/
Tokeny provides open source software via T-REX protocol (Token for Regulated EXchanges):
https://tokeny.com/t-rex/
Tokeny is 23.5% owned by Euronext (largest stock exchange in Europe) and has their own plans to be part of EU security token market via Tokeny (Asia-Pac presumably covered off by DSX Asia):
https://www.euronext.com/en/about/media/euronext-press-releases/euronext-invests-tokeny-solutions-compliant-tokenization
There's a name for horse with a horn in the middle of it's head, it's called a Unicorn. Just because it has a name, it doesn't mean it's real. So too with ISIN! It's just a unique number that can be obtained free anywhere in the world from an NNA member. It's not regulated, nor are those that obtain one. To be clear -
anyone can get one! It's not clear if you are misrepresenting the ISIN, or it was misrepresented to you. In any event, the benefit of the doubt is granted and an explanation of ISIN follows.
On the point of ISIN numbers:
1. They are issued free.
2. They do not represent that they are regulated in any way.
3. Anyone can obtain an ISIN.
4. It is only a unique identifier.
5. To obtain an ISIN does not require to be regulated in any jurisdiction.
6. ISIN does not offer any investor protection at all.
It's just a number! In fact there is a more stringent process to obtain a phone number.
On the analagy that an ISIN is regulated, it could be said that if you have a phone number, you are regulated by the telecommunications regulator too, the power company and the DMV. That's just nonsense and absolutely ridiculous. Who comes up with this stuff?
It's just not true. It's a lie and very misleading.
As for the article, it would serve Metalstream better to remove it than leave it up. It's fraudulently misleading. Not a good start to the New Year for Metalstream. Unless the intention is to build a criminal case against themselves by documenting it on the internet. Someone wasn't thinking.(Again).
In the event that Metalstream is regulated, which can't be identified anywhere that it is, Metalstream has the opportunity now to advise of it's regulated licence number.
All regulated entities everywhere in the world must;
1. Provide a license number; and
2. Display their license number on their website, and materials; and
3. Issue offer documents with clear information for investors, that includes financials, etc; and
3. Comply with regulations on the issue of securities on all offer documents with their licence number.
Metalstream doesn't appear to be regulated anywhere. They do not appear to be licensed for bullion, custodians, or any other capital market activity - if so, then provide the licence numbers. It's that simple.
The tokens are not equity backed in any form as there is no legal or evidencial documents that show that is the case, anywhere. If the tokens were equity backed then the tokens would have documentation showing the legal connection on display. Just like any real security has. Available for all to see. Something Metalstream has not and will not ever do.
It has already been established that the gold doesn't exist, by Metalstreams own admissions no less, which suprisingly they posted all over the internet.
DSX Asia is clearly another 'Metalstream' type deal. Absolutely no substance at all. Just as sure as 2019 and 2020 has passed so too will the next 5 years with no action. CSQ will remain in CTO and Metalstream will be raising $65M and funding ALTA, CSQ and GYA - next month and soon. DSX Asia will be building exchanges and listing tokens - soon, and finally the STO market will grow larger than the existing exchanges, again - soon.
Reality check: None of it happened or is going to happen. Just admit it. If CSQ, it's management and all it's associates and shell companies all over the place, can't even file financial statements, what makes you think these people can build exchanges, or run a business? Regulated ones no less?
Don't get me wrong, I admire their belief that Eli Weir, David Vincent, Metalstream and associates can fly, it's just the reality that proving it by jumping out of a tall building window, will certainly end in tradegy every time. As they have done many times in the past. It appears there is yet another attempt at trying to fly with what is coming out now.
Those involved with these entities have no substance or reputation to speak of, on the contrary their track record shows continual string of corporate failures, misleading and contradictory information and highly questionable conduct and ethics.
Just a string of shell companies and offers to raise funds from unsuspecting investors.
Tokeny:
Not convinced there is a business model there. In my opinion, there is nothing that Tokeny offers that isn't done as efficiently or more efiiciently already. Despite many years in the making and a $5M investment by Euronext, which they have burnt through, there is still no traction.
STO's:
The STO market is claimed to be $375M in the medium article Metalstream posted. Are you kidding? Well run junior miners have market caps higher. Or even a handful of small juniors can beat that market cap. The entire STO market cap is 0.00000001% of the TSX.
Basically, STO liquidity = 0.
Why move from liquid exchange markets to an illiquid STO market? It makes absolutely no commercial sense. Further putting a corporate on an STO market over a listed market will be its death knell. It would be a very poor decision by even the most incompetent management team.
As for DBS Bank participating in a digital exchange. Many, many countries have tried it and many exchanges embarked on it without success. I note that Canamex was all over the Malta Digital Exchange, what happened?
https://tokenist.com/malta-digital-exchange-signs-mou-for-canamex-gold-backed-token-listing/
That was in 2018....
Despite the Malta exchange merging with Malta Exchange, a government authorized exchange - still nothing happened.
That's just Canamex's experience. How many others? All failed.
Why would this be any different?
Any company who has embarked on tokens has either failed, collapsed, abandoned the project, or just lost money. Most raise investors funds and burn through it and deliver absolutely nothing, that appears to be the business model. There is no business case for tokenization and there is no liquidity for token exchanges, especially Security Token Exchanges.
Finally, given the history of Canamex, Metalstream, and all the associated entities and the questionable nature of their respective management teams, there is no prospect of any success or upside for any investors.
With an established long track record of abysmal failures, this will be no different. Why is it still being pursued? Focus on the company, the financials, the mine. Get the company trading and build it's value. It's was already listed on an exchange with market liquidity. Why chase rainbows? Time to refocus.
We have experienced the most liquid markets of the century and the biggest gold bull run of the century - what have they done? Nothing!