Pioneer Of Initial Coin Offering Gets Qualified

The beginning of a new era:

The Securities and Exchange Commission has qualified what is essentially an initial coin offering (ICO) by Blockstack.

56828048_869426586729964_299310111875137536_n-752x423

In its $28 million Regulation A+ offering, the company will sell “utility tokens” that do not provide any equity interest in the company to be traded on the Blockstack network, a blockchain-based software platform on which developers can build applications.

Blockstack is a pioneer of sorts, having spent, according to the Wall Street Journal, over $2 million and 2 years working with the SEC to find a path to legitimacy for their ICO.

This may invigorate the ICO wave which has dropped from raising $6.9 Billion in unregulated offering in the first quarter of 2018 to $118 million in the first quarter 2019.

https://cointelegraph.com/news/us-sec-approves-blockstack-token-offering-under-regulation-a

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 Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.