I read some of the whitepaper released a day ago on SMTs. I like the idea and would like to release a token myself but then after I reasoned about it I started to wonder if something like this would even apply to me? To make myself clear, we do not yet know how SMTs will be perceived by the SEC but if they look a lot like securities then are they securities? If they are securities then how much risk is it to use the SMT infrastructure? Considering the cost of launching a security can cost in the tens of thousands in terms of compliance fees and then also the technical cost of setting up the SMT it will not be so simple as merely pushing a button.
The SMT is a great idea but I don't know if it's going to be useful if it brings SEC regulators onto the platform due to Americans trying to issue securities without doing the legal paperwork. If the SMT infrastructure were to streamline the legal processes then I would find it particularly useful.