{"id":400807,"date":"2022-01-29T08:31:57","date_gmt":"2022-01-29T05:31:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-approves-bstx-for-blockchain-settlements-on-traditional-markets\/"},"modified":"2022-01-29T08:31:57","modified_gmt":"2022-01-29T05:31:57","slug":"sec-approves-bstx-for-blockchain-settlements-on-traditional-markets","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-approves-bstx-for-blockchain-settlements-on-traditional-markets\/","title":{"rendered":"# SEC approves BSTX for blockchain settlements on traditional markets"},"content":{"rendered":"

“# SEC app<\/a>roves BSTX for blockchain settlements on traditional markets <\/strong>”
\n<\/p>\n

The Boston Security Token Exchange (BSTX), a new facility of the Boston-based BOX exchange, received regulatory approval from the United States Securities and Exchange Commission (SEC) to operate as a blockchain-based securities exchange.\u00a0<\/p>\n

BSTX was launched jointly by BOX and Overstock\u2019s blockchain arm tZERO, originally seeking approval for launching publicly-traded registered security tokens. However, the SEC approval to operate as a national securities exchange allows BSTX to use blockchain technology<\/a> for faster settlements in traditional markets. According<\/a> to the SEC,<\/p>\n

\u201cThe Commission notes that the [BSTX] Exchange\u2019s current proposal does not involve the trading of digital tokens and such a proposal, or any other additional use of blockchain technology.\u201d<\/p><\/blockquote>\n

While the SEC has previously denied BSTX permission to offer crypto-focused services, the latest approval allows the facility to use a proprietary market data feed, BSTX\u00a0Market Data Blockchain.<\/p>\n

In addition, BSTX will also use blockchain technology to help investors experience faster transaction times on the same day (\u201cT+0\u201d) or the next day (\u201cT+1\u201d), instead of the standard two business-day (\u201cT+2\u201d) settlement cycle sported by traditional markets.<\/p>\n

Along with the regulatory approval based on BSTX\u2019s rule change proposals (SR-BOX-2021-06), the SEC placed four conditions for BOX in line with BSTX\u2019s operations.\u00a0<\/p>\n

The requirement includes joining all relevant national market system plans related to equities trading, ensuring Regulatory Services Agreement with FINRA, Intermarket Surveillance Group membership for the BSTX facility, and an applicable governance structure.<\/p>\n

Related: <\/strong>SEC reportedly probing crypto lending products by Gemini and Celsius<\/em><\/strong><\/p>\n

In line with the above developments, the SEC is also reportedly reviewing some of the high-yield crypto lending products offered by Gemini, Celsius Network and Voyager Digital.<\/p>\n

As Cointelegraph reported, the SEC is conducting an inquiry into considering registering crypto lending services as securities. A Bloomberg report on the matter suggests that the SEC\u2019s main concern lies with the high-yield offering by crypto lending services.<\/p>\n