Bitcoin Forum

Members wants your opinion in this, i heard and read somewhere that SEC declared that bounties are illegal infact some ICOs not starting the bounty program just because this reason, Need your view regarding this?

So if an ICO project oriented object is a citizen of the United States, so they may not be able to offer a bounty thread, because it looks more like a publicity channels, and this is not allowed in the United States, so it makes me feel very upset.

In theory you are not investing, you have not been solicited and you are joining a campaign on "tips only" basis, so even if the token is a security, you don´t need to be an investor.

The thing we call Bounty is some kind of advertising. Just as companies outside of the crypto sector have specific advertising budgets, the new projects are also transferring a certain share to the bounty campaigns.

I wonder if FB/Google/etc are also bounty advertisements illegal on their platforms, after making ICO ads illegal. Because, as you said, they're basically the same as advertising.

For as a bounty worker there is nothing wrong with it because they getting our service to advertise their company as well as their product. Maybe the ICO who are not registering their company to SEC that is illegal that is the rule in my country.

If they consider bounty as illegal this could be because they have some fears about transferring money to just anyone not legally binding to the ICO project and hence remain anonymous such that if the funds could be used against national security, it could harm other people like funding for a terrorist attack. This could be I think is the reason.

1. You should post the link ar article were you found this info.
2. Try harder to make a sentence that makes sense. The are plenty of tools that could help you with your English. Stop posting thin incoherent gibberish.

Hello, thank you for intresting question. As far as I can see, the problem is that every token holder - and bounty hunter - needs to be identified. So if bounty campaign is using KYC-procedure - that means that the project is serious and understands the reality. There will be no problems at all if every holder of tokens will be identified in order to pay taxes. For me it is very good - crypto will be much more confident.

Bring proof!
 
My opinion - if the bounty is outlawed, then they need to legalize.
Even if it is the same KYC and simple agreement with the legal aspects.
Our work is also investing in the project, albeit not financial and labour, so if you want to legalize and run it to the community - I don't mind.
Especially since with political games with cryptocurrency, we will soon forget what anonymity is, or part of the community will go to darkweb.
That with this development of the industry as a whole will not be real.

Always make a thread with link to prove your words as there are always rumors spreading in the market and rumor spread like a wild fire. Americans have their own laws so many ICO's not allowed americans.

It were look like illegal because of anonymity no one knows who were the participants behind the program because it may lead to illegal activities

Yes, I've read it .for some ICO who decided not to use the bounty for support and marketing. . But the SEC has also acknowledged that true ICO can be an investment opportunity and legitimate. The bounty program is not an illegal issue, I think it's just another matter of consideration in the marketing
approach.
I am aware that if the initial coin supply community (ICO) needs to embrace its own rules now to reduce the likelihood of a blow from law enforcement and regulatory action. Actually bounty is helpfull program should be taken for their approach on tokensale.

Please provide the links or references from where you are stating this. It is simply illogical to declare Bounties illegal, if ICOs are not banned then bounties are not other than just marketing of project.
I don't know what is the purpose behind this declaration but it doesn't make sense to stop bounties.

i did not read such news from SEC ..
only ico regulation is thing which they discussing .
and how bounties can be illegal .
if a project pay google directly for ads or any celebrity then why it cant pay to normal people for marketing .

Also noticed that if the topic is not evidence and this is just another rumor you can remove it.

If that would have been the case then I think there would have been no single bounties going on in the current bounty section that we are blessed with in this forum. Why look at few ICO programs if there are 100's of them who are already Runnign their ICO bounties. you must think in positive way about that. I think there is no such official news where they say bounty is illegal. Also why it will illegal anyway as there is nothing spurious in that. Its just way to publish the projects the same way they do it with btc-signature campaigns etc. I think there is no difference between all of this.

Bounties are not illegal unless you are not a US resident.
If you are an US resident you cannot earn money with ICO promotion.

Without a bounty hunter, investors will not know a good quality ICO project that's a unique idea or another. The bounty hunter job is just an ad carrier.
Prohibition of bounty may be only for some countries like AS.

At the moment there is no evidence that bounty companies are illegal. So everything is legal.

Yes they cannot have investors without bounty hunters to work with it besides 70 % of chances on the legitimate projects are succesful because of the work of the participants here in bitcointalk. I don't see such illegal activities on advertising such coins its never been a fault. The OP should always provide a proof about what is going on.

I think entire SEC have lost their senses. what is wrong in ICO throwing a bounty campaign or have they forgotten bounty is a form of advertisement. many investors today get to know about ICO through bounty campaign. there is nothing wrong in bounty campaign, in fact, it is you guys that call it bounty for me I call it digital marketing. maybe the should ask many ICO project startup that have one undergo bounty campaign how they achieve the milestone. I can still remember how copytrack were thanking bounty hunters for bringing so much traffic to their ICO

It depends on the SEC  body if they consider bounty campaigns as illegal because bounty hunters are only getting coins through helping ICOs to reach their goals and targets like soft and hard caps.
While most of the coin holders are investors who did bought coins on their ICO sales.

You have to realize that SEC is not some global organization that has tremendous far reaching power.
It is specific to the US and applies to companies situated in the us and citizens or residents of the us.

That is why to avoid annoying hassles, companies will exclude US citizens and start their company outside of the US.
On top of that, the US makes up a very tiny portion of the overall crypto market.

So saying that ICOs will stop doing bounties because you heard or read somewhere that the SEC considers it illegal is FUD thinking and will lead to poorly informed trading choices.

The nit gritty of it all, is if the token or coin you are buying or getting is used as a security or utility.
Basically, is the coin used mainly for monetary value or does it have some kind of use or purpose within a platform or ecosystem.
Under this definition, a lot of coins out there actually qualify as a utility and do not need to worry.

Of course, things could change in the future, but if an ico or new company does rules because of SEC or changes things to bounties because of SEC when they aren't even associated with America, it is a red flag that their company does not have a good professional legal department.

An interesting approach to the promotion of crypto-currency projects. The ban in FB, ban in Google, now bounty. The US is a technologically advanced country, but such a position is controversial with respect to the new technologies.

Is it a desire for total control or conservatism? The first is quite possible, the second was not specific to this country.

It's not yet official, even if even it happens to be true, it will only apply to US compaines. SEC doesn't that much power to regulate cryptos and bounties in other countries, they can only issue a press statement, And according to the G-20 meeting they are not looking to regulate cryptos. 

Link? Otherwise you are simply talking without valid proofs. This is the first time to hear this. And even companies offers people allowances and salaries to promote their projects, products and services so what's the difference?

But at the moment, the ICO project that has accepted American investor investment has stopped the bounty thread.
So I think it's a real message.

For me, Bounties is another way to endorsing a project / name / or anything. Bounties is not illegal for me, if you are promoting something in social medias, is it illegal ? nope, you just promoting that because you love it. Also, it was a job too. Sidelines. For some us don't have a work and left behind in the house, I probably, bounties is helpful to them. It was better to promote/endorse ICO in social medias than selling illegal drugs on social sites. right ?

Bounty for everyone who want except some countries like US. Bounty is kind of service provision

I cannot get why it is illegal? You get paid with tokens, not money. So you don’t have to pay taxes or whatever. there is no law saying that you cannot take part in bounties of hold such campaigns.

I dont see anything wrong or illegal about bounties. can you elaborate where did you found this article or information you have shared to us? maybe you just misunderstood the information you have read.

And what laws that  prohibit bounty campaign, it just  soliciting  support by means of promoting a business campaign  of product, that your supporting and that's a freedom of expression.