The New York blockchain-company, Blockstack, has filed a claim with the US Securities and Exchange Commission (SEC) to hold a tokensale in accordance with the “A +” exemption. The company plans to attract funding in the amount of $ 50 million, reports CoinDesk.
If approved, the sale of 295 million Blockstack Stack (STX) security tokens at a price of $ 0.30 per unit will be handled by a unit of the company Blockstack Token LLC.
The company wants to use the raised funds to accelerate the development of the decentralized computing stack and the application ecosystem.
We’ve been working with securities lawyers to create a legal framework that can enable blockchain protocols to comply with SEC regulations. This can potentially set a precedent for others in the industry, not just for public offerings, but also as a path to launch new public blockchains and establish a path to bootstrapping decentralized ecosystems.
Co-founder and CEO, Blockstack
The A+ exemption was adopted by the SEC in 2012 and allows companies to attract up to $ 50 million of funding from American investors.
In December 2017, the Winklevoss brothers and other large investors invested $ 50 million in the Blockstack during the tokensale.