Bittrex, buy stocks with BTC. Legal?

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Avatar for SnowUnderSun
3 years ago

Cryptocurrency exchange Bittrex launched tokenized stocks.

With USDT, USD or Bitcoin, you can buy major stocks in Bitrex.

Apple, Amazon, Google, Pfizer, Alibaba, Bilibili, Tesla and more.

Here is Apple - USDT pair as example.

All looks very good and expected movement in crypto sector.

But...

Selling stocks requires many financial licenses and needs clear approval from SEC.

Honestly I have no idea about Bittrex's recent approach to tokenized stocks based on legal ground or not. I hope that they got all legal requirements before its launch.

1934 National Securities Act, Section 6. Any exchange that provides a platform to exchange American securities, must register to SEC.

List of registered exchanges are in SEC website.

https://www.sec.gov/fast-answers/divisionsmarketregmrexchangesshtml.html

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Avatar for SnowUnderSun
3 years ago

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