Crypto Exchange Gets SEC Nod For $117M Token Offering

Law360 (August 24, 2020, 5:32 PM EDT) -- Budding cryptocurrency exchange INX Ltd. said Monday that regulators have greenlighted its $117 million security token offering being steered by three law firms, paving the way for a rare crypto-related fundraising to proceed with the U.S. Securities and Exchange Commission's blessing.

INX is represented on U.S. legal matters by McDermott Will & Emery LLP and by Horn & Co. Law Offices and Hassans International Law Firm on Israeli and Gibraltar-related legal matters.

Gibraltar-based INX said it is offering 130 million tokens at 90 cents each, potentially netting $117 million. INX expects to begin raising funds on Tuesday, earmarking proceeds to develop...

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