The Commission on securities and exchange Commission (SEC) approved the application of the new York company Blockstack to host licensee in accordance with the position «A+». This was the first such precedent in the history of cryptocurrency krautsalat. This was announced by CEO Muneeb Ali.
BREAKING: Blockstack received SEC qualification; first-ever SEC-qualified token offering in US history. https://t.co/IbbodLCLgS
— Muneeb Ali (@muneeb) on 10 July 2019.
So, starting tocancel scheduled for July 11, and participants will be able to become an accredited and retail investors.
It should be noted that under the regulation «A+» companies are permitted to raise up to $50 million investment per year. Blockstack will be tocancel for $28 million
Under the terms of the campaign, 62 million tokens Stack Blockstack (STX) will be sold at a price of $0.30, and about 78 million coins at $0.12. In addition, the company intends to allocate $12 million in tokens as a reward developers who create applications for the ecosystem Blockstack.
The position «A+» allows small companies to raise funds from the public, while respecting the less stringent regulatory requirements than an IPO.
However, according to Ali, the process of obtaining permission from the SEC took a lot of time and resources, as the Agency had to develop a completely new Protocol for token sentences. According to media reports, on obtaining approval from the Blockstack spent about $2 million.
Recall Blockstack was created in 2013. Previously she has managed to raise $50 million investment from well-known representatives of the blockchain-industry and venture capital firms.
Bid to host licensee to the public Blockstack sent to the SEC in April. Then it became known that one of the investors of the project is the famous Harvard University.