Blockstack Mulling Over Possibly Issuing Security Token Under Reg A+
As Originally Posted on tokenist.io
In an email distributed recently, Blockstack said it is considering having their own STO. The STO would fall under the Reg A+ security exemption. Last month, the Blockstack Token LLC filed a Form 1-A. However, it is still pending under the SEC. The details outline that Blockstack is looking to host an STO to raise up to $50M.
In the email, Blockstack said the following:
“Although the SEC has not yet qualified the offering statement, we are pleased to open pre-registration as a part of the “testing-the-waters” phase of our planned sale of Stacks tokens. Pre-registering now helps us gauge interest and also verifies your identity, making it easy to complete your purchase if and when the sale is qualified.”
As a result, Blockstack is holding a pre-registration sign-up for its planned STO. It seems likely that the SEC will approve of the measure given Blockstack’s enthusiasm.
Blockstack will be using the Coinlist service to make the STO a reality. However, the company made clear that the pre-registration does not necessitate any obligations. One can sign up and not buy any tokens, if they wish.
The problem is, to date, not a single STO request has gone through with a Reg A+ regulatory acceptance. However, the SEC has expressed some positive sentiments that some of these issuers may be successful in the short-term future. Many analysts say that Blockstack may be the first to be approved.
Blockstack has many high-profile investors like the Harvard University Endowment Fund.
SiaMohajer
