STX Coin is the first token product certified by the SEC

STX Coin is the native token of the Bitcoin Layer 2 network Stacks, which has a close connection with the U.S. Securities and Exchange Commission (SEC).

STX Coin is the first token product certified by the SEC. In 2019, the Stacks team applied for a token issuance under the SEC's Regulation A+ framework, which provides a pathway for small issuers to publicly offer securities to non-accredited investors. The Stacks team also collaborated with the SEC for nearly a year to meet the qualifications for its token sale, and held an SEC-qualified STX token sale in July 2019.

The core reason for STX Coin's recognition by the SEC lies in its technical architecture, economic model, and compliance design, which align closely with the SEC's regulatory framework. As a Layer 2 scaling solution for Bitcoin, Stacks introduces smart contract functionality to Bitcoin. STX Coin, as a functional token in the Stacks ecosystem, is used to pay transaction fees, participate in consensus mechanisms, and incentivize network participants. The core logic of its Proof of Transfer (PoX) mechanism is consistent with the SEC's recognition of “non-securities activities.” Furthermore, the Stacks team has always positioned STX Coin as an infrastructure component of the Bitcoin ecosystem rather than a high-yield investment target, and its decentralized governance structure also reduces the possibility of centralized entities controlling the token's value, all of which align with the SEC's regulatory logic.