28 Apr '15, 3pm

SEC Filing Hints at Overstock's Plan for Bitcoin-Based Securities

SEC Filing Hints at Overstock's Plan for Bitcoin-Based Securities

Overstock.com, the online retailer currently developing decentralized stock market Medici, has outlined how it might issue digital securities in a new Securities and Exchange Commission (SEC) filing. Submitted on 24th April, the S-3 form outlines Overstock’s intention to issue new stocks or securities. The offerings, according to the company, could amount to as much as $500m. The filing also details how Overstock may seek to issue digital securities through an alternative trading system. Under a section entitled 'Risks Applicable to Digital Securities Offerings', the company states: "We may decide to offer securities as digital securities, meaning the securities will be uncertificated securities, the ownership and transfer of which are recorded on a cryptographically-secured distributed ledger system using technology similar to (or the same as) the distributed ledger techn...

Full article: http://www.coindesk.com/sec-filing-hints-at-overstocks-pl...

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