Thanks; what is your question exactly? I think this exchange is a GREAT Thing. Stocks on the blockchain is a good thing if executed correctly, but I will leave that to the hybrid team of legal and tech experts. Furthermore, tokens that are like securities should go onto the exchange but utility tokens should question whether they have to, unless the actual tokenholders can band together to vote and decide whether to list on the exchange.

The idea shouldnt be to make a utility token into a security. Policy experts must debate the pros and cons and honestly, if they want they can just say "let's not use the howey test and just use something else to regulate tokens as securities"