ICOs at the End of 2017: What We Think We Know and What We Don't Know

Re:ICOs at the End of 2017: What We Think We Know and What W... by AlexCoventry on Tuesday October 17, 2017 @03:05PM (#15493833)

The majority of ICOs are not restricted to accredited investors.

There will be penalties for failure to register securities, for failure to meet reporting and other registered securities requirements, and shareholder clawback lawsuits.

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Re:ICOs at the End of 2017: What We Think We Know and What W... by anonymous5133 on Tuesday October 17, 2017 @09:37PM (#15496288)

and how exactly are they going to enforce these rules? Do you think the SEC is going to zimbabwe, congo or some other backwater country to tell these people to stop issuing ICO lol? The US federal government is not the policeman of the world my friend.

People who are doing ICOs will just move to where they can have their business be successful. If USA/Europe or Asia ban ICOs then all the devs will just move to another country where it is legal, maybe russia?

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Re:ICOs at the End of 2017: What We Think We Know and What W... by wrench604 on Tuesday October 17, 2017 @03:23PM (#15494012)

The majority of those ICOs are not available to us citizens though. Can you name a recent ICO that allowed non-accredited us investors to participate?

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Re:ICOs at the End of 2017: What We Think We Know and What W... by AlexCoventry on Tuesday October 17, 2017 @03:37PM (#15494164)

> Switzerland-based Tezos said it did not specifically exclude investors from any country from participating.

https://www.cnbc.com/2017/07/18/hot-digital-currency-trend-m...

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Re:ICOs at the End of 2017: What We Think We Know and What W... by wrench604 on Tuesday October 17, 2017 @04:12PM (#15494481)

This ico happened before the sec bulletin was issued:

https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_co...

Do you have any more recent examples?

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Re:ICOs at the End of 2017: What We Think We Know and What W... by AlexCoventry on Tuesday October 17, 2017 @10:30PM (#15496451)

I haven't been following closely, recently, but literally the first one I checked has no check on residency [0], which is enough to bring it under SEC jurisdiction if the sale goes over other thresholds.[1]

Sales before and after the bulletin are subject to the same laws.

[0] https://etherparty.io/ico/contribute

[1] https://www.sec.gov/divisions/corpfin/internatl/foreign-priv...

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Re:ICOs at the End of 2017: What We Think We Know and What W... by relyio on Tuesday October 17, 2017 @03:51PM (#15494266)

There were lots of disclaimers saying:

>"Every potential participant in the fundraiser is responsible for determining the legality of participation within their jurisdiction."

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Re:ICOs at the End of 2017: What We Think We Know and What W... by AlexCoventry on Tuesday October 17, 2017 @04:23PM (#15494577)

It was totally legal for US residents to participate, as far as I know. I believe almost all the securities-law obligations resulting from the sale are on Tezos. (Not a lawyer.) The only obligation on buyers might be that they can't resell it without being guilty of selling an unregistered security themselves.

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