In all the ways that the cryptocurrency space has developed over recent years, one prediction that never quite came to fruition was the rise of tokenized securities. As the ICO boom died down, many predicted that traditional trading would soon be performed using tokens. As things stand, that prediction hasn’t turned out entirely in the way that crypto enthusiasts had hoped. Regulators across the globe started to clamp down on cryptocurrencies, particularly as they interacted with the traditional securities markets. Perhaps an inevitable but unintended consequence of this approach is that an entire industry sprang up around unregulated derivatives. Whereas
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