Home BlockchainThe Legal Strategy Behind Crypto Exchange Backpack's Token-to-Equity Program

The Legal Strategy Behind Crypto Exchange Backpack's Token-to-Equity Program

by Decrypt
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The Legal Strategy Behind Crypto Exchange Backpack's Token-to-Equity Program

In brief

  • Backpack plans to offer equity to users that stake its upcoming token.
  • But they will also need to become a VIP at the exchange, co-founder Can Sun said.
  • The exchange is preparing to register the tokens as securities in a “worst case scenario.”

Not long after Backpack teased last Monday that its upcoming token would enable users to earn equity in the crypto exchange, people from across the industry began reaching out with the exact same question, according to co-founder and Chief Compliance…

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