Blockstack Token Offering Establishes Reg A+ Prototype

Law360 (August 12, 2019, 3:44 PM EDT) -- On July 10, the U.S. Securities and Exchange Commission qualified the first offering of digital securities issued pursuant to Regulation A Tier 2 under the Securities Act of 1933.[1] Blockstack PBC, which is a blockchain-based company developing a decentralized internet system that supports applications, is seeking to raise up to $28,000,000 through the sale of stacks tokens.[2] This approval has been a long time coming: It reportedly took 10 months and $2 million in expenses for Blockstack to design an offering that the SEC was comfortable with. More broadly, though, this represents a landmark for:

Regulation A Tier 2, typically referred...

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