Booming cryptocurrency capital market goes legit with first SEC-compliant deal
Filecoin, one of the first cryptocurrencies to function in explicit compliance with SEC securities regulation, is set to launch on Thursday on a platform called Coinlist, a fund-raising platform to help start-ups run their own "initial coin offerings". The offering is a test of whether the controversial capital raisings can function in accordance with rules designed for shares and bonds.
Filecoin’s initial coin offering (ICO) will, in contrast with most ICOs, be sold only to accredited investors, ensuring it does not need to be registered as a security. But it will comply with SEC Reg D 506 — the private offering 'safe harbour' of the US Securities Act.
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