CoinTelegraph: Former SEC Senior Counsel Joins US Security Token Platform As Chief Legal Officer https://t.co/gdPBod4nr0 pic.twitter.com/bsPgSR8mnK — StuartSimon (@StuartSimon) December 18, 2019
On December 17, it has been reported that the San Francisco-based token issuance platform announced the hiring of Levine as its new Chief Legal Officer of TokenSoft and President of DTAC, TokenSoft‘s affiliate transfer agent.
“Alex’s regulatory and blockchain experience will ensure our transfer agent offering can meet the complex compliance needs of all security offerings.”
He also stated:
“I am 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 by working with the SEC and FINRA as rules and regulations are established governing the crypto space in the US.”
Prior to that position, he also served as a Senior Regulatory Counsel at the Commodity Futures Trading Commission (CFTC) and as a Senior Counsel at the U.S. Securities and Exchange Commission (SEC).
Moreover, in July, TokenSoft announced that it was adding Know-Your-Business (KYB) services to enhance customer due diligence requirements in compliance with an amendment to the Bank Secrecy Act. However, the new feature purportedly intends to simplify a number of on-boarding procedures, including collection and verification of entity data, as well as personal data from the authorized signer, beneficial owners and others.
Thus, at the time, Borda said that the new level of automation provided by KYB reduced the processing time of data collection and verification from an average of ten days to a few hours.