Blockstack SEC Filing Focuses On Network Decentralization

Law360 (April 29, 2020, 10:00 PM EDT) -- Blockstack PBC, the first cryptocurrency company to receive approval for a Regulation A+ token offering from the U.S. Securities and Exchange Commission, submitted its annual filing with the regulator on Wednesday where it outlined its thinking around the legal status of its STX digital token with a focus on the decentralization of its network.

In its 1-K filing with the SEC, Blockstack explained that its board of directors will periodically assess the legal nature of its Stacks, or STX, digital tokens to determine when it could be deemed a utility token under U.S. securities laws rather than a security.

"The board...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!