Blockstack Gains US SEC’s First Approval for Regulated Token Offering
【链得得播报】July 12 (ChainDD) the US Securities and Exchange Commission (SEC) has approved on July 10 blockchain startup Blockstack to offer its Bitcoin-like digital token, which may become a model of fundraising for cryptocurrency startups.
Blockstack company aims to raise $28 million through the token offering under Regulation A+ (Reg A+), as an alternative to an initial public offering (IPO) that help startups fundraising, according to a lawyer for Blockstack, cited by The Wall Street Journal. The company plans to start its public offering through its official website on this Thursday.
Token offering under Reg A+ to some extent is similar with IPO, but still varies from many aspects, such as token buyers won’t get ownership, instead, will receive utility tokens that can used on Blockstack’s blockchain-based platform.