A token issuance company based on the Stellar blockchain network, Smartlands, is set to partner with Cameron McKenna Nabarro Olswang LLP, popularly known as CMS and simultaneously one of the biggest law firms in the world.
The Smartlands platform, specialized in token issuance, describes itself as an international security token issuance enterprise that manages auditing, legal due diligence and other preparatory procedures of a token issuing company. The platform is entering a mutual agreement with London based CMS, in a move that would see it pilot through a series of legal developments in alignment with the demands of necessary regulative bodies.
Smartlands platform is prepared to conform and operate under the legal requirements required by top regulative bodies such as Securities and Exchange Commission (SEC), European Central Bank (ECB), FINRA (Financial Industry Regulatory Authority) and Financial Conduct Authority (FCA).
CMS, with a repertoire of more than 70 offices and 250 partners, would be entering into the legal field of the crypto-space, as it recognizes the evolution of the budding industry as a major cog in the future of finance technology. The firm is poised to address important legal problems and issues that could surface in the industry.
Smartlands, with the help of CMS, would be developing its unique platform to cater to the stringent requirements of AML and KYC regulations. Sam Robinson, a partner at the mega London firm, stated that:
“We at CMS strongly believe that security tokens are set to revolutionize commerce in the digital space, but we do also recognize the legal challenges that lie ahead, with global compliance being at the top of the list.”
“In Smartlands Platform, we saw a company with a unique technical expertise to create an investment platform that utilizes the security token technology in compliance with the regulatory obligations.”
Smartlands is only one of many real estate platforms looking to influence its industry with the dynamism of the cryptocurrency and blockchain technology. Their recent partnership with heavyweight CMS is only the right step towards a well-conceived master plan.