tZERO-Backed BSTX Seeks SEC Approval to Launch Security Token Market

The Boston Securities and Token Exchange (BSTX) on October 11th filed a proposal for various rule changes with the SEC. These changes would allow for BSTX to launch what would be the market’s first digital exchange supporting full-fledged digital securities.

BSTX, a platform jointly owned by BOX Digital Markets and Overstock’s blockchain arm tZERO was launched in mid-2018, with the intent to develop the first fully regulated digital exchange in the U.S.

The proposed rule change discussed dates back to late June 2019. At the time of the filing, it was viewed as having the potential to create a ‘rulebook’ for the operation of such exchanges in the United States. Only now, months later, is the SEC making the filing available for public commentary.

A few of the noteworthy attributes of their proposed exchange are as follows:

  • Asset ownership recorded using a private blockchain
  • Trading enabled through the use of BSTX tokens
  • Whitelisted clients
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