FOR IMMEDIATE RELEASE
WASHINGTON, D.C. – December 5, 2018 – 10XTS, a blockchain technology company dedicated to developing compliant digital asset solutions, announced that CEO Michael Hiles met with Securities and Exchange Commissioner Hester Peirce at the Digital Asset Forum held at the St. Regis Hotel in Washington, D.C. The forum, a prominent gathering of institutional and capital markets investors, provided a high-level platform for industry leaders to address the future of digital assets and blockchain’s impact on financial markets.
Commissioner Peirce, a distinguished keynote speaker at the event, presented her vision for the future of digital assets, emphasizing the need for regulatory frameworks that support innovation while ensuring market integrity. Following her keynote, Hiles had the opportunity to connect directly with Commissioner Peirce to discuss pressing regulatory compliance concerns for public crypto blockchain networks, particularly as they relate to cybersecurity and data preservation standards mandated by the SEC and other regulatory bodies.
Advocating for Compliance with SEC Mandates on Public Blockchain Networks
Hiles highlighted 10XTS’s position on the compliance challenges facing public crypto networks under current U.S. regulatory standards. In particular, 10XTS strongly asserts that most public crypto networks fail to meet essential data preservation and cybersecurity standards mandated by regulatory agencies, including the Federal Financial Institutions Examination Council (FFIEC) and the Office of Compliance Inspections and Examinations (OCIE). These standards, along with SEC Rules 17a-3 and 17a-4, require comprehensive records to be made and preserved by certain exchange members, brokers, and dealers, ensuring the integrity of compliance recordkeeping.
“The regulatory landscape for digital assets and blockchain remains complex, especially when it comes to compliance with established data security and record-keeping standards,” said Michael Hiles, CEO of 10XTS. “Our position is that most public blockchain networks, while innovative, do not inherently meet the rigorous requirements laid out by the SEC and other regulatory bodies. We believe that adhering to these standards is essential for establishing trust and transparency in capital markets.”
As a blockchain company focused on building a compliant ecosystem for digital asset management, 10XTS is developing the XDEX platform, designed to facilitate secure, regulatory-compliant issuance and management of tokenized assets. The platform’s architecture incorporates data integrity and record-keeping features that align with existing financial regulations, creating a solution that addresses both regulatory and operational demands within the blockchain space.
Highlighting the Role of Compliance in Building a Trusted Digital Asset Ecosystem
During his exchange with Commissioner Peirce, Hiles underscored the importance of ensuring that blockchain networks meet established regulatory standards, particularly in an era of heightened scrutiny around cybersecurity and data protection. 10XTS advocates for compliance protocols that ensure the preservation of critical records and reduce cybersecurity risks associated with public crypto networks.
By maintaining rigorous compliance protocols, 10XTS aims to bridge the gap between emerging blockchain technology and traditional financial regulatory frameworks, supporting the development of digital asset platforms that uphold the standards of the financial industry.
Digital Asset Forum: A Premier Gathering of Global Institutional Investors and Blockchain Innovators
The Digital Asset Forum gathered industry leaders, investors, and regulators from around the world, offering a platform for discussing the current challenges and opportunities within the digital asset space. With a focus on institutional adoption and regulatory clarity, the forum featured presentations from thought leaders and decision-makers, providing insights into the future of blockchain and cryptocurrency in global capital markets.
Commissioner Peirce’s keynote address focused on creating balanced regulatory policies that allow for innovation in digital assets while protecting investors. Known for her progressive stance on blockchain technology, Commissioner Peirce emphasized the importance of regulatory flexibility that encourages market growth. Her insights set the stage for discussions on cybersecurity, investor protection, and compliance with critical regulatory standards, issues that remain central to the evolution of digital asset platforms.
10XTS and the Future of Compliant Blockchain Solutions
10XTS is committed to developing blockchain technology solutions that meet the compliance and security standards required in regulated financial markets. Through the XDEX platform, 10XTS is advancing a blockchain ecosystem that aligns with key SEC mandates, providing secure, transparent, and compliant record-keeping for digital assets. By adhering to SEC Rules 17a-3 and 17a-4, XDEX addresses the data integrity needs of exchange members, brokers, and dealers, positioning the platform as a robust solution for the digital asset market.
About 10XTS
10XTS is a blockchain technology company focused on creating compliant, efficient, and secure solutions for asset tokenization and data transparency. Through its XDEX platform, 10XTS bridges the gap between traditional finance and emerging digital asset markets, providing regulatory-compliant infrastructure for the issuance, management, and trading of tokenized securities. Headquartered in Cincinnati, Ohio, 10XTS remains at the forefront of blockchain innovation, actively participating in regulatory and industry dialogues to shape the future of digital finance.
Media Contact
10XTS
Email: press@10xts.com
Website: www.10xts.com
