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Tuesday

22 October 2019

tZERO-Backed Startup Seeks SEC Approval to Launch Security Token Market

tZERO-Backed Startup Seeks SEC Approval to Launch Security Token Market


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The Securities and Exchange Commission (SEC) on Friday released a rule change proposal that would allow Boston Securities and Token Exchange (BSTX) to create an automated equity trading platform, with ownership records stored on the ethereum blockchain.

Unlike its 50 percent shareholder tZERO, whose own trading platform went live in January and handles security tokens exempt from SEC registration requirements, BSTX would list only tokens that are full-fledged public securities.

The exchange’s listed tokens would also have to be compliant with the ERC-20 standard – with additional security measures in the protocol outlined by three different smart contracts to track ownership, whitelisted addresses and compliance with regulations.

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