The blockchain IPO platform
5 years ago
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Mr. Mike Merrill
Publicly Traded Person
Hey! I'm one of the co-founders of Chroma.fund. Excited to be listed on Product Hunt (thanks Chris!) as it's one of my daily reads. Just a heads up, while what we're doing is pretty amazing (IMO) we are operating under a state-based exemption for the sale of securities, so we're only able to sell to people in Oregon.
#1 Product Hunter! 🏆 ko-fi.com/chris
this does seem very cool. Are there specific laws in OR that enable this? Or could other states do similar things? What kind of company is this? And how closely do you work w/ the state or other government institutions?
Hi Chris, I'm a co-founder of Chroma.fund. Your'e right, Oregon has a law that exempts local businesses from national securities regulations that would make Chroma.fund's initial public offerings impossible. But as many as 40 other US states have passed, or are considering similar exemptions. And the SEC has promised to publish final rules for Title III of the JOBS Act later this year, which will permit these "mini-IPOs" nationwide. Chroma.fund is a salt-of-the-earth C-corp. What we're doing is seizing on a small but important piece of blockchain innovation and then working very closely with government regulators to obtain proper licensure and compliance needed to sell investment securities to the public. When it comes to securities regulations, it's better to beg for permission than it is to ask forgiveness;)