The Surprising Reason Why Blockstack Could Be America’s First Crypto IPO
Blockchain startup Blockstack is currently evaluating how to issue new tokens for general miners.
“The issuance of new tokens is the main issue here,” Blockstack CEO Muneeb Ali told CoinDesk. “Because within the U.S. we’re treating STX [tokens] as securities, if new tokens are being minted by the protocol and they’re being released in the ecosystem, we need a legal framework for them.”
That framework could include an initial public offering (IPO), he said.
In September, Blockstack became the first blockchain startup in the U.S. to raise money through a token offering approved by the Securities and Exchange Commission (SEC). Planning to activate the process of “mining” on the Blockstack blockchain early next year, Ali explained there are a few different ways new tokens could be issued to miners in a similarly legally-compliant and regulated way.
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