The market of the tokenized securities (STO) is lifeless: current proposals suffer from poor liquidity and inadequate disclosure of information, which reduces the demand from investors.

This opinion expressed the founder of Aboveboard Andy Singleton (Andy Singleton). In the article "Real Perspectives of the STO market: proximity to disappearance," he declares that, despite the "team of non-existent startups", which "declare infrastructure and publish transactions for sale, no one actually buys them."

Singleton argues that the proposal of acting token - the synonym for bad investments in terms of potential buyers, since the proposals do not have sufficient liquidity, but, as a rule, require significant fees.

Singleton declares that the proposals of the shares are not intended to trade with a significant amount and that the issuers do not "disclose enough information to allow the buyer to determine the fair price."

 "Funds such as BCAP and SPICEVC can only be acquired by American investors under special circumstances. If they are accredited in the US investors, they can have only 100 shareholders. They can create PFIC tax obligations. And these are tiny problems - less than $ 20 million a total. The problem is not only that the market is new and it can grow. These securities are not fundamentally designed in such a way that in the future it could be traded at any time, "Singleton believes.

In addition, he claims that many unregulated primary placers of tokens (ICO) tried to "dismiss" their proposals for collecting funds as "equity securities" after strengthening actions taken against ICO.

Despite the criticism of the STO market, Singleton recognizes its important technological innovation related to the securities industry, underlining the ability to receive real-time licensing payments and vote using safety markers.

 "The premises of the security in the blockchain does not increase its value. The market will really take off when we see new types of transactions and business models that require the flexibility of the tokenized format. Bitcoin is valuable in that he did something completely new - he monetized and coordinated the efforts of the open community, "he summed up.