Bitcoin Forum

Some coins host an IPO for a coin, and release the coin, but never use the funds to develop it. Is there anything that can be done for this?
For example. SysCoin did an IPO, but I doubt we will see any developments from them. So can they be legally challenged to refund the money?
Or releasing the coin , frees them from any liability ?

Afraid not. Cryptocurrencies are the wild west (i.e. lawless)

If the developers are US citizens or residents, you can report them to Fincen and SEC regardless if it is a scam or not.

There are reporting and licensing requirements when issuing IPO or new coins.

Yes but I doubt they consider CryptoCurrency under the law. And Once the coins are released, can the devs still be questioned?

I heard ethereum had to do their IPO from outside the USA to avoid prosecution for breaking SEC regulations, but everyone knows who runs ethereum. Most of the IPO's here seem to be by anonymous devs.

Also Fincen Posted this: http://www.coindesk.com/fincen-bitcoin-miners-investors-money-transmitters/
Which says that cryptocurrency investments(IPO's) don not come under the common law.

A judge's decision allowed SEC to prosecute someone and changed everything.

http://www.forbes.com/sites/kashmirhill/2013/08/07/federal-judge-rules-bitcoin-is-real-money/

I find this odd that a lot of users here on the forum seem to think giving money to someone you do not know can be a good thing.

It is all risk

This article is not related to IPO's. Right now there is no where to truly sue from for these sorts of things. The coins are not even tied up to anything backed by one government, they can be made by some guys in their basement. Not yet are they a true legal entity. Give it 1-2 years and there will be a legal framework for this stuff.

This link shows how worried the ethereum team are about trouble from the SEC.

https://forum.ethereum.org/discussion/261/possibly-closed-to-u-s-investors

You can't just do anything for the ipos. Some people I know simply gamble with the coins they get from the IPOs trying to sell the after the coins is pumped and then trashed. In the other side, I have invested just 1 btc in Ethereum just to help them develop the project even if the coins I got are undervalued at least I have helped them to move forward.

This thread has been reported to the Monero Police!   :D

https://i.imgur.com/WgqslHv.jpg

the only thing protecting you around here is your own brain. If you can't use it you'll  be RIPPED!

Bought sys-ipo? Have fun with the cap and stickers, idiot ;)

Nope
but i hope there is someone or organization can do this
it's very important to keep everyone who want to invest into the new coin
and if something happen, just call them

impossible, how can you track all that shit, those "ipoer" are using multi proxy vps and other anon forms

Its pretty much impossible to track the scammer/hacker, look at mtgox? How long did they take to track down?

woo, sexy girl. i want you.

there are only scam dev and scam coins   no police. :-\

cryptocop reporting for duty


http://media-cache-ak0.pinimg.com/736x/4b/b2/7d/4bb27d69370d64df410ad158afab62dc.jpg

LOL i was thinking the same exact thing !

I am happy to see that my services were recommended to you. Currently I am working on many high profile cases but I am always willing to make some room and help someone out. If you need any help from the department shoot me a message.

Cryptopaths, Chief Of Police of the CPD

you mean your busy catching up here because you just got back from trolling and spamming here LOL