The New York-based startup has filed a Reg-A+ offering circular for its Props token with the Securities and Exchange Commission (SEC) – even though it isn’t selling them to investors, accredited or otherwise. If approved by the regulator, the qualification would clear YouNow to distribute Props to content creators, network transaction validators and others without registering the tokens as securities.
Source: Video Startup YouNow Files With SEC to Give Away Crypto – CoinDesk