Permissioned blockchains are, of course, nothing new. JPMorgan, Citigroup, Wells Fargo and dozens of other financial institutions already use them, and by all accounts, they function perfectly well as internal, proprietary distributed ledgers. But that doesn’t mean they can support securities that meet the U.S. Securities and Exchange Commission’s Howey Test. While stablecoins, … [Read more...] about Crafting Tokens Both Wall Street and Washington Can Love