SupplyBloc, Inc. is temporarily pausing our pre-ICO to preemptively prepare our SUPX Token Sale to be compliant with the U.S. Securities and Exchanges Commission (SEC).
The concerns and discussions regarding SEC regulation within the blockchain and cryptocurrency communities have been equally confusing and intriguing as of late. SupplyBloc remains hopeful about the potential positive effects that the ongoing and inevitable regulatory and industry transformations will likely have on the blockchain and crypto spaces as a whole.
Migration to Security Token Offering (STO)
SupplyBloc is proactively taking the steps to become SEC compliant by issuing a Security Token via an STO. STO’s are quickly becoming the safer, more secure, and ultimately more enduring way to raise capital with a token sale.
The primary difference between an STO and an ICO is that unlike utility tokens, security tokens are considered financial securities that are backed by assets with inherent value such as a company’s profits or revenue.
Polymath and the ST-20 Security Token
One well known project at the forefront of this new trend is Polymath. Using their Ethereum-based platform, Polymath is working to help businesses become SEC compliant by offering an ST-20 security token standardization process.
The goal of this transition away from ICO’s and toward STO’s is to further legitimize the industry while creating a safer space for serious investors to become involved in revolutionary technological developments.
SupplyBloc is looking forward to working with companies like Polymath to secure our project’s position in the vanguard of this securities-based transition. We see regulation and compliance as a requirement for the longevity of our blockchain project and the industry as a whole.
Read our official pre-ICO pausing statement below:
Official Statement via supplybloc.io
“Demonstrating leadership in the market, SupplyBloc, Inc. has voluntarily paused its pre-ICO Offering while it prepares appropriate Registration Statement(s) with the U.S. Securities and Exchange Commission. The filing(s) will give our ICO token purchasers greater security throughout the token buying process as well as comfort knowing that SupplyBloc, Inc. has gone the extra mile to comply with proposed SEC requirements.
The ever-changing landscape of ICO regulations has created many challenges.
SupplyBloc, Inc. believes in meeting the challenges head on, complying with proposed regulations and maintaining the utmost transparency for the benefit of our token purchasers.
Rest assured, we will move forward with our pre-ICO and ICO Offering as soon as this process is complete. We encourage you to monitor our website for updates.