I. Summary

Primal ETH is requesting a $2,700.00 grant to begin the FINRA application process to become an authorized Regulation Crowdfunding (“Reg CF”) Portal.

II. Background

Primal ETH, a Delaware corporation, is an SEC-registered Reg CF Portal that is not yet an authorized member of FINRA.

Once accepted by FINRA, Primal ETH will begin raising funds in order to develop a portal that integrates DAO platforms as issuers of Reg CF securities that are tokenized on the Ethereum network.

Through the Reg CF exemption, participating companies can sell up to $1.07 million worth of securities within a 12-month period to the general public, including non-accredited investors.

Reg CF issuers are required to file certain disclosures with the SEC, which can be burdensome, but OpenEsquire is poised to help issuers with this process in exchange for a small fee. A draft template of Reg CF issuer disclosures can be found here.

In order to operate as a Reg CF portal, Primal ETH must begin an application process with FINRA, which requires an application and investigation fee of $2,700.00.


This is huge. Specifically for US non-accredited investors (me) and anyone looking to do an IDO as a US-registered DAO.

Excited to hear more about this on tomorrow’s roundtable!


What’s the timeline on certification, if you get funding?

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Once the application fee is verified and the application is submitted, FINRA determines, within 14 days, whether the application is complete. Within that 14-day period, FINRA may serve an initial request for additional information, which the applicant will have 14 days to file.

An interview is then conducted via teleconference. Once completed, FINRA issues its decision. The entire process happens within 60 days. Source.