The Republic Note is a digital security, also called a security token. This means that the trading of this security must be done in a registered manner that complies with United States securities laws, despite its digital form. Private securities issued in the United States come with selling restrictions, transfer restrictions, tax implications, and more.
If you’d like to trade the Republic Note on INX, INX will need to make sure it has KYC information on both the buyer and the seller of the Republic Note.