[eriktrautman]

If these are registered securities they will need to trade on regulated exchanges where the company knows all the token holders only and thus cannot be used in decentralized applications by normal people. Which seems to defeat the purpose in the first place. Or..?

[muneeb]

This is a very good (and interesting!) question.

Regulation A+ is technically an exemption from registration requirements. Although in practice it works closer to a fully registered offering. Just pointing it out because the Stacks tokens are not "registered".

Transfers can take place between users/peers and do not need to be registered. Trading in the US needs to be on a regulated securities exchange while the token is treated as a security. See our FAQ question on exchanges: https://stackstoken.com/faq/

Trading in international jurisdictions depend on appropriate local law.

Finally, this is decentralized open-source technology and Blockstack PBC cannot control activities on the network.

[CyrusL]

The idea is that the tokens won't be securities in the future. A security can eventually become a non-security.