SEC Approves Overstock's Plan to Issue Stock Via Blockchain
According to a report from Wired, the Securities and Exchange Commission (SEC) has approved the online retail giant Overstock's plan to issue securities via the Bitcoin blockchain. This is the first-of-its-kind approval from the regulatory authority that might completely alter the way how public securities are issued and traded in the future. Overstock had earlier issued private securities using the blockchain which did not require the authority's approval. The blockchain is a public ledger of transactions; however, it can also be used to record data of anything including stocks, real....
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The Securities and Exchange Commission (SEC) has approved Overstock.com's plan to issue company stock via a blockchain-based technology, according to Wired. Overstock has already used the block chain to issue private bonds, which do not require regulatory approval. The SEC has approved an amended Form S-3 which would enable the company to issue securities using block-chain-based technology. Patrick Byrne, CEO of Overstock, was to announce the news at a San Francisco, Calif. bitcoin conference Tuesday evening. Byrne told Wired the date of issuing a public security on the blockchain is high....
The US Securities and Exchange Commission (SEC) has reportedly approved Overstock's plans to issue stock via the blockchain through its subsidiary tØ platform. According to Wired, the company was granted an amended Form S-3 - a requirement solely for companies that report under the Securities Exchange Act of 1934 - meaning that it could now issue public securities leveraging blockchain technology. It is still unclear when the company will issue its first public security on a distributed ledger but Patrick Byrne, Overstock's CEO, told Wired: "You can assume its high on our list of....
According to multiple sources close to Overstock, the U. S. Securities and Exchange Commission (SEC) has approved a S-3 filing for online retailer Overstock.com (NASDAQ: OSTK) to issue new publicly traded shares of the company on the Bitcoin blockchain. An Overstock spokesperson declined to comment on the situation but said that the company would be issuing a formal statement in the next 48 hours. Form S-3 is a securities registration form that gives companies a simplified process for issuing publicly traded securities. Unlike Form S-1, which is the comprehensive filing required for....
The Salt Lake City-based online retailer Overstock is working on a revolutionary new development: a new independent stock exchange dubbed Medici, powered by Bitcoin technology. The new stock exchange could sidestep traditional stock exchanges such as NYSE and NASDAQ and issue corporate stock directly over the Internet. In a prospectus filed with the Securities and Exchange Commission on April 24, Overstock indicated that it may issue up to $500 million in stock or other securities through an alternative trading system built upon blockchain technology that powers bitcoin. Overstock's CEO....
The Salt Lake City-based online retailer Overstock is working on a revolutionary new development: a new independent stock exchange powered by Bitcoin technology. The new stock exchange could sidestep traditional stock exchanges such as NYSE and NASDAQ and issue corporate stock directly over the Internet. Overstock, one of the first and largest online retailers to accept bitcoin payments, first announced the project in October 2014. "There is an opportunity to recreate the financial world as we know it in the parallel universe that is the blockchain," Overstock's CEO Patrick Byrne told....