Title: SAFT help needed Post by: CHRISBIN702 on January 26, 2018, 11:28:36 PM We formed a business by the name URAllowance, LLC. We are holding an ICO in the coming weeks. We are in the United States so regulation is obviously an issue. We are hell-bent on doing this the right way. We are just about complete with the UX/UI design for our alpha platform. We have airdrops and bounties and basically everything you'd expect from a well thought out ICO. Including a token:coin swap after we develop our own blockchain.
Sooooo. The thing we are having trouble with is, do we need The SAFT? It seems the safest way to go although we'd rather avoid KYC and allow everyone to participate. We have already grabbed the attention of McAfee and ICOBench. We are being sponsored with a premium listing at ICOBench and we were pinned to the top of McAfee's Twitter for several hours. If anyone could help with some advice in this regard, that would be highly appreciated. Thanks, Chris Butler Co-Founder URAllowance CM RunCPA Title: Re: SAFT help needed Post by: CHRISBIN702 on January 27, 2018, 12:10:07 PM We are also seeking a few more advisors. Mostly technical advisors.
Title: Re: SAFT help needed Post by: CHRISBIN702 on February 02, 2018, 07:21:03 AM We formed a business by the name URAllowance, LLC. We are holding an ICO in the coming weeks. We are in the United States so regulation is obviously an issue. We are hell-bent on doing this the right way. We are just about complete with the UX/UI design for our alpha platform. We have airdrops and bounties and basically everything you'd expect from a well thought out ICO. Including a token:coin swap after we develop our own blockchain. Sooooo. The thing we are having trouble with is, do we need The SAFT? It seems the safest way to go although we'd rather avoid KYC and allow everyone to participate. We have already grabbed the attention of McAfee and ICOBench. We are being sponsored with a premium listing at ICOBench and we were pinned to the top of McAfee's Twitter for several hours. If anyone could help with some advice in this regard, that would be highly appreciated. Thanks, Chris Butler Co-Founder URAllowance CM RunCPA Looking for SAFT specialists. Or those experienced with running an ICO in the USA. Title: Re: SAFT help needed Post by: CHRISBIN702 on February 11, 2018, 01:41:38 AM Bump. Come on community. Remember the days when real questions like this were answered. I've never come to this forum with need of advice and been ignored like this. Ores probably because10seconds after I post, three mire pages of spam bury it.
Anyways. I could really use advice from someone experienced with SAFT. Title: Re: SAFT help needed Post by: iconoclast on February 11, 2018, 02:08:02 AM You really should be asking a securities lawyer but from my understanding SAFT is simply a proposal at this point and the SEC has not given any opinion on its legality.
Title: Re: SAFT help needed Post by: CHRISBIN702 on February 15, 2018, 04:27:52 AM You really should be asking a securities lawyer but from my understanding SAFT is simply a proposal at this point and the SEC has not given any opinion on its legality. The SEC has up to this point has only issued opinions. No new laws. The SAFT was introduced by a few lawers and several ICOs have been claiming to have used it. I'm wondering at what level they used it. The SAFT itself is a security and is offered in place of the token that would normally be delivered to investors during or after an ICO. According to a publication from the chairman of the SEC, posted on the SECdotgov website on Dec.27th 2017, Not one ICO had registered with the SEC as a security. This got me wondering, are these ICOs that claim to have registered really registered securities or are they perhaps registering only at the state level. All that is beside the purpose of this topic though. My main reason for posting this topic is that we are in the USA and are very close to being launch ready. We have taken all the legal measures in creating our company, obtaining our LLC from the state, crossing all our i's and dotting all our t's. Are the SAFT forms universal or do they have to be specifically written on a case by case basis? |