Tags: blockstack | blockchain | token | sec

Blockstack Holding First Regulated Token Offering

Blockstack Holding First Regulated Token Offering

By    |   Thursday, 11 July 2019 02:31 PM

Blockchain startup, Blockstack, has been cleared by the Securities and Exchange Commission to sell bitcoin-like digital tokens, The Wall Street Journal is reporting.

The first-of-it-kind offering could give cryptocurrency businesses a new fundraising template, according to the newspaper.

The $28 million offering was approved by the SEC under Regulation A+ -- an alternative to an initial public offering. Plans called for the company to start selling the token to the public on Thursday.  

Unlike an initial public offering, buyers will not get ownership stakes in the company. Instead, they get “utility tokens.” These tokens can be used on Blockstack’s network, a blockchain-based software program on which developers are able to build applications, the Journal reported.

The technology that supports bitcoin is known as blockchain, the newspaper noted.

Blockstack spent 10 months getting the SEC approve for its filing.

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Blockchain startup, Blockstack, has been cleared by the Securities and Exchange Commission to sell bitcoin-like digital tokens, The Wall Street Journal is reporting.
blockstack, blockchain, token, sec
138
2019-31-11
Thursday, 11 July 2019 02:31 PM
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