Republic is about to give credible cryptocurrency projects the ability to crowdfund and tokenize from start to finish with total SEC compliance through its new Republic Genesis investment platform.
Republic Legitimizes Tokenization by Ensuring Compliance
On November 10, crowdfunding investment company Republic announced the creation of Republic Crypto’s inaugural service, Republic Genesis. Genesis will be an SEC-compliant crowdfunding and consulting platform that will allow users to launch their SEC-compliant cryptocurrencies.
Until now, blockchain and cryptocurrency startups haven’t had a one-stop platform for all their funding and advising needs. To this end, Genesis aims to foster the next generation of cryptocurrencies by giving the most promising projects all the tools, both financially and logistically, to succeed.
Indeed, the launch process in Genesis is set to be comprehensive.
On the platform, reputable advisers who’ve already helped ICOs to over $250 million worth of crowdsourced investments will guide crypto projects in gaining and fostering early social media presences.
Likewise, legal and securities experts will make sure that new cryptocurrency projects adhere to all relevant regional and international financial laws. So, too, will consultants help with vendor selection, SAFT structuring and the like.
Genesis will also service token teams that have already run ICOs. However far along Genesis-approved projects are, they’ll enjoy the benefits of an influx of both accredited and unaccredited investors.
As for investment processes through the platform, Republic Crypto investors will be credited in the future with the tokens of the projects into which their investments go.
In this sense, Genesis provides a win-win dynamic for cryptocurrency investors and blockchain startups. Investors are rewarded with discounted token access, and startups get the benefit of intense investment interest.
If Genesis succeeds in its mission to become the de facto milestone for compliant token launches, the crypto space, in general, could enjoy a boon from the legitimization that will inherently come with Genesis’ SEC-compliant startups.
And purchasing through the platform will be easy for investors – bank accounts, debit or credit cards, bitcoins, and self-directed IRAs will all be accepted payment options in Genesis.
Not a Good Time to Run Afoul of the SEC
In the United States, the Securities and Exchange Commission (SEC), as well as top American regulators in general, are looking at cryptocurrencies with more scrutiny than ever before.
On July 25, the SEC declared that DAO tokens were to be legally characterized as securities in what was the first official designation of its kind for the American crypto community.
In the early days of October 2017, the SEC also busted two ICOs who had defrauded their projects’ respective stakeholders.
More recently, the SEC declared that celebrities should think twice about endorsing ICOs without first publicly disclosing, in line with U.S. financial law, how much they’ve been paid to do so.
The grand takeaway here, of course, is that the SEC is gearing up to tame irresponsible crypto use in the U.S. as best it can. ICOs in America best take note.