The SEC’s regulation facilitates capital formation, which assists entrepreneurs launch businesses and companies prosperity. While Seattle-based blockchain venture capital (VC) firm Pitha has filed the very first 13D SEC schedule which has become the history by now, listing cryptocurrency as a method of payment during a recent investment round in DigitalTown.

Form 13D must be filed with the SEC that’s mandated when an individual or entity acquires more than 5% of any class of a company's shares. This information has to be disclosed within 10 days of the transaction. It is expected that the beneficiary to also disclose any other person, who has voting power or the power to sell the security.

The filing of venture capital related paperwork to the US Securities and Exchange Commission is a common occurrence, but the 13D submitted by Pithia has announced on June 4th — is unique in that it marks the first time in which the beneficial ownership of more than 5% of the publicly traded securities of a public company has been filed listing cryptocurrency as a payment method.

Pithia, RChain, and DigitalTown File Historic 13D: The 13D filing has occurred as part of Pithia’s $2.4 million investment deal in the DigitalTown project, which saw the RChain cooperative member accelerate the development of the blockchain-based local economy platform.

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