BSTX was co-launched by BOX and Overstock’s blockchain arm tZERO. After the SEC approval, it will act as the national stock exchange. BSTX uses blockchain technology to accelerate payments in traditional markets. It reduces trading time of the traditional market settlement cycle.
To obtain regulatory approval, the SEC has issued four terms to ensure that BOX is compatible with BSTX operations. The requirements are as follows:
- Compliance with all relevant domestic market system plans related to stock trading
- Signing of regulatory services contract with FINRA
- Membership of cross-market monitoring group at BSTX facility
- Applicable governance structure
Recently, SEC is also reviewing some of the high-yielding cryptocurrency lending products and services offered by Gemini, Celsius Network, and Voyager Digital. According to Cointelegraph reports, the SEC is conducting investigations to consider registering these crypto lending services as securities.
