Blockstack Launches Bid to Hold 1st Ever SEC-Regulated Token Sale
- The company says that it's hoping to provide a regulatory pathway for other companies to follow in.
Blockstack Token LLC, a subsidiary company of decentralized computing network firm Blockstack PBC, announced today that it has filed a statement with the SEC seeking permission to conduct a token sale in accordance with the SEC Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term A+ framework.
The announcement said that if approved, the offering will be “the first SEC-qualified token offering of its kind.” Proceeds of the sale will “be used to accelerate the development of its decentralized computing stack and
app ecosystem.”
Blockstack has been built to act as a platform for decentralized, privacy-focused applications that can serve as alternatives to the software that most people use every day. For example, the network is already home to Graphite, a decentralized alternative to Google Docs.
Alternatives to Facebook and other social networks where users own their data are already here. @TheEconomist covers how @MastodonProject and Blockstack give users back the control: pic.twitter.com/oy0Xoc2Xaz
— Blockstack (@blockstack) February 5, 2019
“We’ve been working with securities lawyers to create a legal framework that can enable Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term protocols to comply with SEC regulations.”
Muneeb Ali, co-founder and CEO of Blockstack PBC, said that one of Blockstack’s goals in working with the SEC is to improve the regulatory ecosystem for all crypto companies. “Recently, U.S. markets have been closed to crypto projects given regulatory uncertainty, and we believe in opening the U.S. markets to innovation in this area,” he said in the announcement.
“We’ve been working with securities lawyers to create a legal framework that can enable blockchain protocols to comply with SEC regulations. Our framework is consistent with the latest SEC guidelines released last week.”
Ali believes that given the steps that Blockstack has taken, it may be the first blockchain project to gain legal access to public markets in the US.
A number of blockchain-related companies are trying to make progress with the SEC on a few different fronts, but so far to little avail. One of these companies, Bitwise Asset Management, made a splash in the crypto industry when it published a presentation that it had made to the SEC showing that only 5 percent of Bitcoin’s average daily trading volume is real.
Blockstack Token LLC, a subsidiary company of decentralized computing network firm Blockstack PBC, announced today that it has filed a statement with the SEC seeking permission to conduct a token sale in accordance with the SEC Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term A+ framework.
The announcement said that if approved, the offering will be “the first SEC-qualified token offering of its kind.” Proceeds of the sale will “be used to accelerate the development of its decentralized computing stack and
app ecosystem.”
Blockstack has been built to act as a platform for decentralized, privacy-focused applications that can serve as alternatives to the software that most people use every day. For example, the network is already home to Graphite, a decentralized alternative to Google Docs.
Alternatives to Facebook and other social networks where users own their data are already here. @TheEconomist covers how @MastodonProject and Blockstack give users back the control: pic.twitter.com/oy0Xoc2Xaz
— Blockstack (@blockstack) February 5, 2019
“We’ve been working with securities lawyers to create a legal framework that can enable Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term protocols to comply with SEC regulations.”
Muneeb Ali, co-founder and CEO of Blockstack PBC, said that one of Blockstack’s goals in working with the SEC is to improve the regulatory ecosystem for all crypto companies. “Recently, U.S. markets have been closed to crypto projects given regulatory uncertainty, and we believe in opening the U.S. markets to innovation in this area,” he said in the announcement.
“We’ve been working with securities lawyers to create a legal framework that can enable blockchain protocols to comply with SEC regulations. Our framework is consistent with the latest SEC guidelines released last week.”
Ali believes that given the steps that Blockstack has taken, it may be the first blockchain project to gain legal access to public markets in the US.
A number of blockchain-related companies are trying to make progress with the SEC on a few different fronts, but so far to little avail. One of these companies, Bitwise Asset Management, made a splash in the crypto industry when it published a presentation that it had made to the SEC showing that only 5 percent of Bitcoin’s average daily trading volume is real.