Hi,

This is not exactly a blockchain question, for more of a financial question.
We have registered our company in London and it is a cryptocurrency product (upcoming exchange). Founder is in India. One of the investor is interested to invest. If deal is finalized, he would like to transfer a good amount to us. We do no have any such account yet. My questions are -
1- Should we open an account in London or in any country ?
2- If yes, what kind of account ?
3- If a large sum will be transferred, I assume Bank will be informing to Govt. or tax authority (or whoever is related department). Will there be any tax applied on that amount
4- How can we show that amount legally, if we were asked for any explanation ?

I am sure, many of members here might have gone though this stage or may have learned about this stage, so expecting an initial guidance.

Thanks in advance.

Hello,

I need a suggestion from legal point of view.
Since ICO are difficult to go in current market and STO have better market. For an upcoming exchange, we can register token as security in Reg D scope. And that can be presented as STO, instead of ICO. Is there any legal complication later ?
Compare it like BNB token of Binance. Suppose if BNB is a security, would there be any legal complication, if users will sell/buy and trade with BNB ?
Suggestions please.

Thanks in advance

Hello,

This is regarding Crypto-exchange, which is in ICO phase and registered in UK. As standard, it was considered as utility token. Many investors get interested, but they want to see it as security token. I am trying to learn, what it takes to get approval as security token. If I search it on internet, due to various mindset of attorneys, I see it ranges from $2000 to $50,000 and time from 2 months to 1 year. I am not getting clear idea, if at all it would be possible for us to go that way.

I know, it is legal thing and should be consulted with related team, but before that I want to get some rough idea about time, money and formalities.

Thanks

Hello,

Looking for a suggestion. I have some important data of financial figures, credentials of wallet and some private keys. I do not want to keep them in my laptop or phone or email or storage hard disk, as they can be broken/stolen

I can backup that to AWS Glacier, from what I read.

I hear few quotes that cloud provider can read/access data and (mis)use that. Not sure, this can be true in real world, to read that small file out of millions of files, which they have stored from all their clients.

Please suggest, your thoughts ?

Thanks

Hi,
I want to know, who pays trading fees on exchanges like bittrex, binance ? Is it seller or buyer or both will be charged ?
When binance says that trading fees will be 0.1%, does it mean that both will be charged 0.1% fees, i.e. 0.1% fees will be charged to seller and 0.1% will be charged to buyer ?
Please advice.
Thanks

Hi folks,

I am associated with one upcoming ICO for exchange and it is registered in UK. It is utility token (not SEC approved or security). As per many attorneys, they do not want to sell tokens in US and China. It is written in our terms that sale is not allowed for US/China residents.
Recently of the person got interested to invest (buy token worth $100k) and he is US residents. I understand that if he transfers USD, he will need to report to IRS. But suppose, if he transfers 5000 Eth (equivalent to $100k) to our wallet and we transfer equivalent amount of our tokens to him, how IRS or regulation will come into picture ?
Practically, how it will be caught or proven ?

Please help me to understand this.

Thanks

Hello,

(Mod : If this post is more suited in any other forum, please move and forgive my ignorance)

I am seeking some serious suggestion, as this is the place where I see most knowledgeable people in crypto world.
It is not technical question but more of a marketing one.
We would be launching a new ICO, for crypto trading platform. With much more features than other major trading platform.
An ideal ICO would go like this example. People will buy some tokens at $1 and hold them. After couple of month, when those tokens will be listed on exchange, they expect it be selling at more than $1 and that'w how they gain profit on that. Few will add incentives and others will give rewards as holding benefit on their product.
In current bad market, for our exchange, it is difficult to prove that if our token is $1, they will find it more $1 when it will be launch. Though it is not security but, still people would like to see, what can be possible benefit.
Do you think, any such incentive or holding benefit can be introduced, per your experience of working with others so far ?
I am open to any suggestion and can see, if it can fit in this program.

Thanks in advance.