SEC approve PoQ

[shadow.bishop]

The U.S. Securities and Exchange Commission has issued a no-action letter to Pocketful of Quarters (PoQ), a gaming startup looking to issue tokens on the ethereum blockchain. PoQ may legally sell its Quarters tokens to consumers without registering them as securities.

The token is a stablecoin, with PoQ setting the price of the Quarters as the only seller, PoQ CEO George Weiksner said. This is part of the company’s compliance requirement with the SEC. (A smart contract prevents tokens from being sent to unapproved accounts, thereby restricting secondary trading.)

Source;
https://www.sec.gov/corpfin/pocketful-quarters-inc-072519-2a1