SOMA.finance co-founder and co-CEO William Heyn discusses the differences between SOMA and the other tokens deemed as securities by the U.S. Securities and Exchange Commission (SEC).
Soma is different because we built it to be compliant from day in addition to being an investment banker and multi compliance officer. So I built this, we built this system exactly as I'd like to see it as a compliance officer. So one of those things is we never sat down and said, how do we try and make the SOMA Token? Not a security. It just is a security and it's been a security since day one. So we go into the RCF offering, you know, I'm required to say things like, uh, you know, as I said here, I've not made soliciting or offering to buy tokens or sell tokens. They'll only be sold after a week, uh, make filing with the SEC and so on. And so, so that's the real difference. You're never gonna see some or try to win coming out and saying this is why this isn't a security. It just our securities. The SOMA Token will be a non participating, non cumulative participating word stock by the SOMA company.