TokenSoft Welcomes a New Chief Legal Officer

In a major move to bolster its regulatory standing, TokenSoft, a leading San Francisco-based security token issuance platform, has appointed Alex C. Levine as its new chief legal officer and the president of DTAC, TokenSoft’s transfer agent affiliate. This hire, announced in a press release on December 17, signals TokenSoft’s commitment to navigating the complex world of compliance in securities offerings.

Bridging the Gap Between Compliance and Technology

Mason Borda, the CEO of TokenSoft, expressed confidence in Levine’s ability to elevate the firm’s compliance capabilities. According to Borda, Levine’s extensive experience—both regulatory and blockchain-centric—will be pivotal in providing customers with the “best-in-class” tools they need for successful token issuances. He remarked,

“Alex’s regulatory and blockchain experience will ensure our transfer agent offering can meet the complex compliance needs of all security offerings.”

Levine’s Background: A Regulatory Powerhouse

Levine’s professional journey is impressive. Prior to joining TokenSoft, he was the general counsel and chief compliance officer at Pangea, a money transfer platform. His earlier roles include senior regulatory counsel at the Commodity Futures Trading Commission (CFTC) and senior counsel at the U.S. Securities and Exchange Commission (SEC). His deep regulatory knowledge will be vital as TokenSoft aims to navigate the evolving landscape of digital asset compliance.

A Forward-Thinking Approach to Token Compliance

In a recent chat with Cointelegraph, Levine expressed enthusiasm about collaborating with both the SEC and FINRA. He stated,

“I’m excited to join TokenSoft not only to help further the compliant issuances of tokens and digital assets but to push for the development of a regulatory framework for the trading and custody of such assets.”

TokenSoft’s Proactive Steps in Compliance

TokenSoft has taken further steps to enhance its compliance infrastructure. In July, the company unveiled a Know-Your-Business (KYB) service tailored to fulfill customer due diligence requirements in line with newer amendments to the Bank Secrecy Act. This initiative is designed to streamline the onboarding process by collecting and verifying essential entity and stakeholder data.

Borda highlighted that this automation has significantly shortened the data processing timeline—from an average of ten days to mere hours—making compliance faster and more efficient.

Conclusion: The Future Looks Compliant for TokenSoft

With Alex Levine at the legal helm, TokenSoft is making a strategic move in the regulatory landscape of security tokens. As the firm continues to innovate while ensuring compliance, it sets a precedent for other companies navigating this evolving industry.