Nasdaq-listed BTCS said its DeFi unit, Imperium, has completed the preparatory compliance steps required for the U.S. Securities and Exchange Commission’s "Covered Firm" exemption, including filing a notice with regulators and publishing related disclosures. The company said it intends to use that exemption to act as an automated market maker on qualifying tokenized securities venues and provide liquidity for tokenized stocks.
BTCS also drew a clear line around what the exemption does not mean. The company said the exemption is not an SEC approval and does not grant broker-dealer status. Imperium has not yet started offering tokenized stock liquidity, because the exemption only becomes effective once a qualifying tokenized securities trading venue is operating.
The company added that Imperium has already deployed crypto assets in DeFi protocols. BTCS said the move is part of its preparation for a future blockchain-based market for tokenized securities, positioning it among the first publicly traded crypto companies to openly prepare for that framework.
Nasdaq-listed BTCS said its DeFi division, Imperium, has completed the preparatory compliance steps required for the U.S. Securities and Exchange Commission’s "Covered Firm" exemption, including submitting a notice to regulators and publishing related disclosures.
BTCS said it plans to use the exemption to serve as an automated market maker on qualifying tokenized securities venues and provide liquidity for tokenized stocks.
No live tokenized stock liquidity business yet
BTCS said the exemption does not amount to SEC approval and does not give the company a broker-dealer license. Imperium has not begun offering tokenized stock liquidity services, because the exemption only takes effect once a qualifying tokenized securities trading venue is in operation.
Positioning for a blockchain-based securities market
Imperium has already deployed crypto assets in DeFi protocols, the company said. BTCS described the move as preparation for a future blockchain-based market for tokenized securities, adding that it is among the first publicly traded crypto companies to publicly prepare for this framework.
The item was published by Techub and cited NewsBTC.
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