The U.S. Securities and Exchange Commission has approved the country’s first blockchain-formatted stock exchange called BSTX.
In a recent ruling, the SEC granted “accelerated approval of a proposed rule change” to its amendments, for BOX Exchange LLC, referred to as the Boston Security Token Exchange – or BSTX for short. The new exchange, which is a joint venture with tZERO, differs from traditional institutions like NASDAQ, the Chicago Mercantile Exchange and New York Stock Exchange in that it will offer same-day and next-day pay settlements and will operate on a private blockchain. It will also allow for anonymous member activity viewing.
Speaking to BlockHash about the new exchange, tZERO clearing and following regulatory statutes, BSTX director of strategic partnerships, Jay Fraser, stated: “Tokenization is probably going to be 2.0 as far as BSTX is concerned,” hinting that it will not immediately allow crypto trading or focus on NFT’s.
As BSTX gears up for a second-quarter launch, further information about the exchange can be found on the company’s website.
In other digital currency news, Facebook’s Diem crypto project might be preparing to scale back.
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