U.S. Securities and Exchange Commission (SEC) Approves First ICO Token Sales

The WSJ reported, for the first time, the U.S. SEC approved a token public sale (ICO) for ordinary investors with "regulation A+." The approval from the SEC to activate ICOs that comply with U.S. regulations could be an important example.

From this ICO approval, Blockstack (which was applied to SEC in April to sell ICOs) is expected to start selling ICO public tokens worth $28 million from Wednesday. Blockstack is said to have spent $2 million to get the approval.

The securities law provisions applied by Blockstack recognize that companies that fund less than $50 million with 'regulatory A+' do not require an IPO-like screening process and sell securities for qualified investors as well as for general investors.

The so-called "oil securities" is what Blockstack is trying to sell as a means of financing as defined by SEC and the Securities Act, but, with the approval of the SEC, it is believed, in effect, to be "the securities on the Token Base."

It is also not yet clear how Blockstack's tokens will conform to SEC's April announcement of "ICO guidance," but there is a chance that more companies will use "regulatory A+" and review relatively small ICOs in the future, based on the SEC's approval cases.

Thus, from a perspective of activating ICO in the virtual currency industry, the SEC approval acquired by this Blockstack could be an important example.

Reporter Jenny Lee (news@dailycoinews.com)의 기사 더 보기

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