SEC gives second crypto an A+ rating, Ethereum based "Props"

12 Jul, 2019
by David Borman
Regulation
SEC gives second crypto an A+ rating, Ethereum based Props

Just about a day ago, Chepicap reported that the Securities and Exchange Commission (SEC) had handed out the first A+ rating to an ICO, Blockstacks. Now, a second project can join the list. As Coindesk has reported, Props, an Ethereum based token that integrates with platforms like YouNow and XSplit, has also received approval from the SEC.

The Props blockchain is developed by YouNow and acts as a way for content creators to be rewarded for driving "community engagement." According to an SEC filing, the company will be distributing 187 million of these tokens to both users and creators.

The tokens can be transferred across different platforms, applications and wallets, and the team hopes that the value of the token wil lcontinue to rise, and was $0.1369 at launch. However, currently there is no way for users to sell their tokens for fiat.

It is reported that YouNow worked closely with the SEC for two years to make sure they were in full compliance and could demonstrate to the SEC that they were in no way trying to mislead investors.

It looks like the SEC is warming up to projects that play by all the rules. Is this the beginning of a larger wave of "compliant ICOs" or just a few outliers? Stick right here with Chepicap for all updates!

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