BSTX gets nod from the SEC to operate a blockchain securities based exchange

ambcrypto.com:

The US Securities and Exchange Commission (SEC) maintained a firm position when dealing with cryptocurrencies. Different strict rules and regulations were implemented in the past. That said, this development could open doors, facing in-favour of digital assets.

BSTX, a joint venture between tZero and Boston Options Exchange (BOX) Digital Markets received a ‘go-ahead’ from the SEC. This approval will aid the said firm to operate a blockchain based securities exchange. Blockchain technology would power a fully-automated national exchange for the first time.

That said, the approval was conditional on BSTX joining relevant national market system plans. These include structures set up for the dissemination of real-time market information. Also, the SEC required BSTX to be part of an inter-market surveillance group. (an industry working group used to coordinate regulatory compliance.)

The exchange aimed for immediate or accelerated settlement on the same day (T+0) or the next day (T+1). That is, of course, when the conditions are met.

BSTX Chief executive Lisa Fallstated:

“The SEC has taken an important step forward today in its approval of BSTX as a national securities exchange. We are eager to continue to work closely with the SEC to launch a fully regulated new exchange and to help provide capital markets with more modern tools for issuers and investors.”

She further added: