What Is a Reg D Offering in the Context of Security Tokens?

Regulation D (Reg D) is a US Securities and Exchange Commission (SEC) rule that provides exemptions from the registration requirements for certain private placements of securities. Security tokens can be offered under Reg D, allowing issuers to raise capital from accredited investors without a full public registration.

This is a common path for security token offerings (STOs) to comply with US law while maintaining a private status.