MANTRA CEO: 'Issuing it [the token] with the proper legal stack behind it is really the challenge'

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MANTRA CEO: 'Issuing it [the token] with the proper legal stack behind it is really the challenge'

Web3/Crypto

John Patrick Mullin (second from the right), Co-founder and CEO of Mantra, addresses the complexities of token distribution during his talk at Binance Blockchain Week. | Crypto Republique

By Crypto Republique

Nov 10, 2024

John Patrick Mullin, CEO of MANTRA, addressed the complexities of token distribution during his talk at Binance Blockchain Week. He said that while creating tokens is straightforward, ensuring compliant distribution with a "proper legal stack" presents a significant "challenge."

"Creating the token is not the hard part here, right," said Patrick Mullin. "The distribution, doing it compliantly, actually issuing it with the proper legal stack behind it is really the challenge. We're building a permissionless blockchain, but with a permission layer... making sure that anything that's coming on-chain has provable, verifiable provenance, and is done compliantly with the proper regulatory approvals."

According to a report by Osler, Hoskin & Harcourt LLP, the process of tokenizing real-world assets (RWAs) involves navigating complex legal frameworks. These include securities laws, anti-money laundering (AML) regulations, and data privacy statutes. Compliance in these areas is crucial to avoid potential legal issues.

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Bitbond's report highlights that regulatory approaches to asset tokenization vary widely across different countries. This variability requires a comprehensive understanding of local laws to ensure successful and compliant tokenization.

A study by Luke Lee explores the intricate legal landscape surrounding digital assets. It analyzes how these assets are defined and regulated as property in various jurisdictions. The intangible nature of digital assets poses unique challenges to traditional property law concepts, necessitating a re-evaluation of legal definitions and ownership frameworks.

Binance Blockchain Week is described on its website as a conference that gathers innovators, founders, investors, regulators, and officials to discuss blockchain and Web3's future. The theme for this year's conference is "Momentum." The website states that "Momentum propels our industry, not only taking us through challenges but also leading us to our biggest achievements."

MANTRA is identified as a blockchain platform focused on tokenizing RWAs while adhering to regulatory requirements. It supports developers and users with low-cost transactions, identity verification, and KYC/AML compliance. Built on Cosmos SDK with Inter-Blockchain Communication (IBC), MANTRA facilitates secure cross-chain transactions, decentralized identity (DID), and governance.