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.


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.

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:
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