In Apparent First, SEC-Approved Security Token Offering Seeks Listing on Coinbas

[SRShanuka2020]

In Apparent First, SEC-Approved Security Token Offering Seeks Listing on Coinbase

Shortly after sealing an approval from the United States Securities and Exchange Commission for its security token offering, Singaporean blockchain project BitcoinHD (BHD) is seeking a listing on major exchange Coinbase.

On March 30, the SEC had approved BHD’s blockchain-based STO under what is known as a Form D exemption.

Form D is a short registration form in which a company discloses essential information for prospective investors in its securities issuance. The form is notably much shorter than the lengthy reports that are required for the sales of a non-exempt security to U.S. investors. Approved projects can only sell their security to accredited investors.

These are defined in the U.S. as individuals with a net worth of over $1 million, or who consistently make $200,000+ per year in income, or as enterprises with over $5 million in assets.

In its announcement on May 11, BHD purported to be the first approved STO to seek a listing on Coinbase.

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