SEC Approves OTC’s Blockchain-Based Platform
BlackStar Enterprise Group has been working on the platform since 2018 and has spoken with the regulator for almost two years, responding to their numerous inquiries and concerns. The corporation recently took the next step by giving the SEC Trading and Market division a comprehensive strategy outlining how its platforms will be run.
According to the company’s papers, the platform will permit trading OTC securities within the current ecosystem of authorised brokerage firms overseen by the Financial Industry Regulatory Authority (FINRA) and SEC.
According to Investopedia, OTC refers to the practise of trading securities through a broker-dealer network rather than a centralised exchange like the New York Stock Exchange, as stated in the document (NYSE).
(With inputs from Shikha Singh)
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