U.S. Securities and Exchange Commission (SEC) Approves Second ICO Public Sale

The U.S. Securities and Exchange Commission (SEC) on Wednesday approved Etherium-based "Props" token applied by virtual currency company YouNOW as "regulatory A+." The public approval of the ICO by the U.S. Securities and Exchange Commission (SEC) is the second of its kind, in addition to the first one yesterday, as more than 40 companies are currently awaiting approval.

YouNOW is a live streaming company and submitted an application to SEC in June because it grants its own virtual currency, "Props," to users or developers as a remuneration. With the approval, YouNOW will issue, sell, and distribute 178 million tokens.

"Regulation A+" is a provision in the U.S. Securities Act that recognizes the sale of securities not only for eligible investors but also for general retail investors, without requiring a rigorous screening process such as an IPO for companies financed less than $50 million.

YouNOW tokens have stable monetary value ($1,1369 when listed) and are expected to benefit users whose value increases against demand. Therefore, PropsToken needed to apply as a "regular A+" because of its potential to fall under the so-called securities.

Meanwhile, the U.S. Securities and Exchange Commission (SEC) yesterday acknowledged ICO sales of Blockstack, a U.S. virtual currency startup, based on "Regulatory A+." This is the case that the SEC approved the sale of ICOs for the first general investor, which went into a formal public sale on the 12th.

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

- Daily Coin News prioritizes the voice from the scene over others(news@dailycoinews.com) -

- 기사에 사용된 모든 자료에 대한 책임은 작성자 본인에게 있습니다 -

[copyrightⓒ 2018 All rights reserved by Daily Coin News]

Bitcoin price when registering article
BTC-USD : $ 11,724.00 USD (API by Bitfinex)

2 0 Write