Precedent could lay the foundations for future tokens public offerings
La Securities and Exchange Commission (SEC) of the United States of America has approved an offer under regulation Reg A + of 28 million dollars for the company Blockstack.
The Blockstack offer is, in essence, a regulated version of the Initial Coin Offerings (ICO), unregistered public offerings of digital tokens that boomed on 2017.
Previously, the Crypto Ventures company raised billions of dollars through an ICO before the SEC initiated a legal campaign against them, since, according to her, they violated the investor protection laws.
Although the offer resembles an initial public offering in some aspects, there are large differences.
On the one hand, token buyers will not get ownership interests in the company. Rather, they will get "utility tokens" that they can use as tabs in the Blockstack network, a blockchain-based software platform on which developers can build applications.
Blockstack, founded in 2013 by Muneeb Ali and Ryan Shea, spent 10 months and spent around 2 million dollars to get approval from the SEC under the Reg A + regulation.
In this regard, Muneeb Ali pointed to The Wall Sreet Journal About "My joke has been that the 2 millions of dollars are our donation to the crypto industry."