The Canadian Securities Exchange (CST) announced yesterday that it would soon set up a clearing and settlement securities platform based on the Ethereum Blockchain (ETH) that allows companies to raise capital with security tokens.
According to the CSE announcement, companies using the Blockchain platform can issue Security Token Offerings (STOs) to investors. raise capital. Tokens issuers via the CSE platform will be fully regulated by the relevant securities commissions .
The CST positions its STO to companies as an alternative to the initial offer of parts), which the exchange calls unduly unregulated.
The press release notes that the platform will benefit both “ large established companies “, as well as “ junior entrepreneurs.” public capital markets for the first time . “
In conjunction with the new platform announcement, CSE signed a memorandum of understanding with Kabuni Technologies, a Blockchain-based manufacturing platform printed products, to be the first to issue OCS Kabuni must first file a prospectus with the British Columbia Securities Commission (BSCE) and, if approved, the issuance by Kabuni of. a STO would mark the first entry of a security for trading on a recognized stock exchange “
In the United States, the President of the Securities and Exchange Commission (SEC) Jay Clayton repeated the week of During a Senate hearing, every OIC token that the SEC has seen is a security and must be registered with the SEC. if this should be offered to US investors. Clayton said the same thing in a statement in December 2017, also noting that, as a result, no ICO had yet managed to register with the SEC, allowing them to legally offer securities to US investors.
Kodak plans to launch a regulated ICO and to offer security chips to US investors as a “exempt supply” under US law. According to the exemption, Kodak’s security tokens must not be registered by the SEC as long as they are only offered to “accredited investors” – individuals whose net worth exceeds 1 million of dollars.