SEC approves BSTX’s launch as a regulated blockchain-based stock trading platform

The U.S. Securities and Exchange Commission (SEC) has approved BSTX to operate as the country’s first regulated blockchain-based stock trading platform, according to a press release.

BSTX is led by BOX Digital, the operator of the Boston Options Exchange, and tZERO, Overstock’s affiliated security-token trading platform.

Thanks to a private blockchain, BSTX will enable accelerated settlement in settlement modes of T0 or T+1 (instant or next-day). Market data will also be fed into the distributed ledger.

The platform will be opened to both retail and institutional investors.

The application was filed in April 2020. Initially, предполагалось, that BSTX would become a platform for conducting STOs based on Ethereum. Later, the Commission отклонила.

«Мы стремимся предоставить рынкам капитала современные инструменты для эмитентов и инвесторов», — commented BSTX CEO Lisa Fall.

BSTX expects to offer regulated crypto assets to clients in the future. The platform is poised to serve as an industry sandbox for developing ideas to improve listing and trading.

In January, the SEC оштрафовала tZERO $800,000 for violations of federal rules relating to alternative trading systems.

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