Security Token Exchange Planned

The Wall Street Journal reports that BOX Digital Markets LLC is planning to start a blockchain based exchange for “security tokens” in a joint venture with digital-assets trading platform tZero.

Security tokens are digital “coins” issued in Initial Coin Offerings that have complied with the Federal securities laws by registration or by properly claiming an exemption from registration.

These are not to be confused with “utility tokens” that have been offered in many #ICOs but which are under continuing and harsher scrutiny by both federal and state securities regulators.

The exchange would need Securities and Exchange Commission approval, which faces some hurdles as tZero is owned by Overstock that is now under investigation by that agency.

https://www.wsj.com/articles/market-players-envision-stock-exchange-powered-by-blockchain-1527094212

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in accredited investor, CFTC, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Funding Portals, Investments, Jobs, Legislative Intent, review, SEC, Small Business, technology, VC, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , , . Bookmark the permalink.

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