Blockstack Launches Bid to Hold 1st Ever SEC-Regulated Token Sale

Blockstack Token LLC, a subsidiary company of decentralized computing network firm Blockstack PBC, announced today that it has filed a statement with the SEC seeking permission to conduct a token sale in accordance with the SEC Regulation A+ framework.
 

The announcement said that if approved, the offering will be “the first SEC-qualified token offering of its kind.” Proceeds of the sale will “be used to accelerate the development of its decentralized computing stack and
app ecosystem.”
 
Blockstack has been built to act as a platform for decentralized, privacy-focused applications that can act as alternatives to the software that most people use every day. For example, the network is already home to Graphite, a decentralized alternative to Google Docs.
 

Alternatives to Facebook and other social networks where users own their data are already here. covers how and Blockstack give users back the control:

— Blockstack (@blockstack)

“We’ve been working with securities lawyers to create a legal framework that can enable blockchain
protocols to comply with SEC regulations.”
Muneeb Ali, co-founder and CEO of Blockstack PBC, said that one of Blockstack’s goals in working with the SEC is to improve the regulatory ecosystem for all crypto companies. “Recently, U.S. markets have been closed to crypto projects given regulatory uncertainty, and we believe in opening the U.S. markets to
innovation in this area,” he said in the announcement.
“We’ve been working with securities lawyers to create a legal framework that can enable blockchain
protocols to comply with SEC regulations. Our framework is consistent with
released last week.”
Ali believes that given the steps that Blockstack has taken, it may be the first blockchain project to gain legal access to public markets in the US.
A number of blockchain-related companies are trying to , but so far to little avail. One of these companies, Bitwise Asset Management, made a splash in the crypto industry when it showing that only 5 percent of Bitcoin’s average daily trading volume is real.