CryptoSecurities Exchange Seeks to Create World’s First SEC-Registered Blockchain-Based National Securities Exchange
A self-regulating, fully transparent, code-regulated, blockchain-based National Securities Exchange registered with the United States Securities and Exchange Commission. That’s the vision of the team at CryptoSecurities® Exchange LLC.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180325005001/en/
In just a few short months, they have registered with the SEC as a Regulation D Exempt Offering, registered with FinCEN as a Registered Money Services Business, secured a lobbying firm in Washington DC to pursue a partnership with the United States government, retained an international tax law firm to ensure IRS compliance, and are in the process of establishing a SuperPAC to push their agenda in the U.S. Congress.
What’s the difference between our current securities trading exchanges and a blockchain-based exchange? Access, cost, speed, and transparency.
Right now, the $1.7 trillion market of over-the-counter (OTC) publicly traded companies has intentionally chosen to not be traded on one of the major legacy exchanges. Why? Because of the prohibitive cost. Brokers, clearinghouses, legal custodians, and the exchange itself all want a cut of every transaction. Even noble brokers like Robinhood don’t allow investors to avoid the clearinghouse fees, exchange fees, and the archaic 3-5 day waiting period for settlement. To make matters more burdensome, the mishaps on Wall Street have resulted in overreaching securities regulations that inadvertently prevent entrepreneurs and startups from accessing public capital. Entrepreneurs have had to resort to presales of conceptual products as a backdoor to raising capital on sites like Kickstarter and GoFundMe. Sites like StartEngine have failed to meet their full potential because the investor base of these types of platforms are strictly limited to permit only accredited investors, which are individuals that make more than $200,000 annually or have more than $1m in assets not including their home. That eliminates nearly the entire general public and destroys the crowdfunding capacity of the platform.
CryptoSecurities Exchange (CSX) is the solution. CSX will be a registered national securities exchange with the SEC. Operating under the state of Delaware’s new cryptosecurities law, which allows stock to be digitized and transferred electronically via a distributed shareholder register in a blockchain-based private network, CSX seeks to digitize the shareholder registers of every OTC company in the United States for no cost.
More importantly, CSX will be working with former SEC regulators and forensic auditors to build a network that has all existing securities laws and regulations built into the code framework. By coding our existing laws into the network, legal compliance will be automated.
What does this mean? Entrepreneurs and startups no longer need to consult with securities attorneys. Brokers will be a thing of the past. Clearinghouses will no longer be necessary. Legal custodians will no longer be needed. The CSX online trading platform will directly connect investors with entrepreneurs, small businesses, and companies throughout the United States. A self-regulating, fully transparent, code-regulated, blockchain-based national securities exchange for Main Street; not just Wall Street.
Please visit our website at www.CryptoSecurities.Exchange to learn more.
CryptoSecurities Exchange will be the world’s first fully transparent, code-regulated, blockchain-based National Securities Exchange registered with the U.S. Securities and Exchange Commission.
If you need any additional information, contact Dr. Castro by email at J.Castro@CryptoSecurities.Exchange during regular business hours.
CryptoSecurities Exchange, LLC
Dr. John Anthony Castro, +1-844-627-9786
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