A live video streaming startup, YouNow has recently filed a public offering circular with the U.S. SEC for a native cryptocurrency called the Props Token.
What makes this particular filing different is the fact that the company is not looking to sell this digital asset to investors but to get the go signal to distribute it in a SEC-compliant manner in the U.S.
The filling was reported to have been done through the SEC’s A+ exemption which entitles a successful company to offer and sell securities to U.S. investors.
According to Adi Sideman, YouNow founder and CEO, the intention is to bring utility tokens to non-accredited investors and consumers in a way that is compliant with the SEC through this public offering.
Props is an open-sourced project that is offered as an earnable token or a reward scheme for YouKnow network participants for creating content on its app.
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