The Security and Exchange Commission has lately made history by giving green light to two token offerings falling under Regulation A+. One of the two qualified issuers said that this is the first time in the history of the U.S.A that a cryptocurrency token offering has secured an SEC qualification.
In the first week of July, the U.S. Securities and Exchange Commission (SEC) began qualifying token offerings under the Regulation A+ also known as Reg A+. On July 10th, the Blockstack PBC announced that their application was approved for the Stacks Tokens. The day after, Props Project also declared that its application was approved as well for Props Tokens by Younow which is a live streaming app that claims to have 46 million users.
According to the U.S. Securities Act of 1933, the companies or firms aiming to offer or sell securities to upcoming investors must register their offer and sale or they must qualify a registration exemption.
The co-founder of Blockstack, Muneeb Ali along with the CEO of Blockstack PBC stated that the upcoming token of the company has been qualified by the U.S. SEC falling under Regulation A+. To this, they further added that:
“This is the first time in U.S. history that a crypto token offering has received SEC qualification. We believe this is a huge step forward for decentralized applications, internet security, and privacy … It is a truly groundbreaking day for decentralized technology. “
Ali also said that at present there are more than 165 applications which are built on the decentralized computing network of Blockstack. This includes bitcoin-friendly web services named as Damil, Bitpatron, and Graphite Docs. Blockstack PBC is a technology company which develops an open-source peer-to-peer network with its affiliates.
The day following the announcement made by Blockstcak PBC, the Props Project also declared that it has also obtained a qualification from the SEC to distribute Props tokens under Regulation A+. On July 11, the team said that they are very proud to announce that the Props offering statement on Form 1-A has obtained a qualification from the U.S. Security and Exchange Commission. They also added that this is a landmark moment for their community.
Do you think that these approvals from U.S. SEC are a green light to cryptocurrency’s bright future? Do you think there will be more approvals from the SEC?
Let us know in the comment section down below!