CoinVoice has recently learned that according to CoinDesk, Solana has announced a new "Token Extensions" feature aimed at attracting token developers who meet compliance requirements.
It is reported that this upgrade has expanded Solana’s SPL token standard, allowing token developers to now implement rule restrictions on token holders and control token operations.
The Solana Foundation said the service is designed to improve compliance controls for businesses building tokens on Solana. Token extensions will allow businesses to hard-code various features in tokens, such as whitelisting, automatic transfer fees, and confidentiality when transferring, which did not exist before. The feature is particularly attractive to stablecoin issuers. For example, Paxos and Japanese company GMO Trust are both issuing stablecoins on the Solana blockchain that utilize token extensions.
A spokesperson for the Solana Foundation said that token extensions provide issuers with options to remain compliant in an ever-changing regulatory environment. Developers can mix and match five extension features, including automatic payment of fees when transferring and using zero-knowledge proofs to hide transfer information. [Original link]
