SEC Clears Blockstack to Hold First Regulated Token Offering

Decentralized internet project Blockstack ($STX) has received the green light from the SEC to conduct a token sale in the U.S under Regulation A+. According to an SEC filing the offering will allow Blockstack to raise up to $28 million from both accredited and non-accredited investors while a concurrent Reg S could raise an additional $10 million from non-U.S. investors. Blockstack originally filed for a Reg A offering in April 2019 and had previously been in a "testing the waters" phase that allowed them to market the offering prior to qualification.