![]() "Over the past year, we have been moving on an explicit path to decentralization, with several independent entities now in our ecosystem.that there would not be dependence on our company for the success of the network," said Ali. Those tokens though could not be traded by U.S. The Stacks token, which currently trades on exchanges outside the United States, has a market capitalization of $220 million.īlockstack, which is building a decentralized network and app ecosystem for Web 3.0, raised $23 million last year by issuing Stacks tokens in a public offering under the SEC's Regulation A+ exemption. The SEC did not immediately respond to a Reuters request for comment. ![]() This means Blockstack will not be required to submit regular financial reports as a company and its Stacks token can be traded by U.S. 14, 2021, the company's network will be no longer be controlled by any single entity and its Stacks token can no longer be considered a security under SEC regulations, Ali said. With the launch of Blockstack's Stacks Blockchain 2.0 on Jan. Securities and Exchange Commission regulations, some cryptocurrencies or digital tokens have been classed as securities as part of efforts to enforce rules against entities failing to register digital currencies or assets sold to investors.
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