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

Web3/Crypto
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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

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.

Organizations Included in this History
Mantra
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European banking authority issues new guidelines for crypto providers to comply with restrictive measures

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Nov 22, 2024

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

The UK government is set to introduce new cryptocurrency regulations aimed at countering the growing appeal of the United States as a destination for crypto businesses. In response to concerns of regulatory delays following Brexit, the legislation focuses on establishing a clearer framework for stablecoins and staking activities, with the goal of strengthening the UK’s position as a global hub for digital assets.

Nov 22, 2024

OpenAI chooses Paris as its new home base

OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.

Nov 20, 2024

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

On October 30, UK Chancellor Rachel Reeves announced a capital gains tax (CGT) rate increase for high-income individuals, raising it to 24%. This change has raised concerns in the cryptocurrency community, where some investors fear that increased tax and regulatory pressures will diminish the UK's appeal for digital asset investment.

Nov 20, 2024

UK’s digital assets bill brings much-needed clarity to digital asset regulation

On November 6, the UK government issued an updated version of the Property (Digital Assets Etc.) Bill, clarifying its approach to defining digital assets, including crypto tokens, as recognized property under English law. The update aims to provide greater security and clarity for individuals and businesses engaging with digital assets.

Nov 20, 2024

Outlier Ventures CCO: People may use a 'more efficient, much less costly system to achieve the same user benefit'

Matt Law, Chief Commercial Officer at Outlier Ventures, said that it would not "surprise" him if many people embrace "more efficient," cost-effective systems like tokenization to gain the "same user benefit."

Nov 16, 2024

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