He wanted to be the first to do it legally. From the release:
"FNY's HYDRATrade, its proprietary market access software, would integrate with Overstock's tØ.com cryptosecurities trading platform."
http://www.hydratrade.com/They are paving the regulatory road for us to follow. So, congratulations on not getting sued Pat. ....yet
More from the release:
"Overstock also hinted at the complex regulatory process it expected to encounter when first launching its attempt to build a decentralized stock exchange last year, suggesting the US Securities and Exchange Commission (SEC) has not approved the offering.
Overstock intends to hold a launch party to celebrate the issuance at NASDAQ's New York headquarters this Tuesday."