Cryptocoin IOU Token Pre-Release Trading

[prettybuds]

With Yobit introducing IOU Token trading before a particular ICO-powered project has even launched, this scheme might become a popular way for exchanges to cash in on the hype by offering a closed market determined to go up. Generates quite some fees and fiddles with the after launch price before launch.

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[billotronic]

it will also serve as an easy test on whether or not an exchange is reputable.

Fuck yobit, they couldn't possibly sink any lower.

[The Sceptical Chymist]

Yeah I'm in their sig campaign and blah blah blah blah, but I have to wonder how legal this is.  It seems to amount to creating a derivative,  and there are securities laws that govern that sort of thing.   These exchanges are all strange.

[BellaBitBit]

Yeah I'm in their sig campaign and blah blah blah blah, but I have to wonder how legal this is.  It seems to amount to creating a derivative,  and there are securities laws that govern that sort of thing.   These exchanges are all strange.

Interesting point.  Is this considered trading futures? 

[prettybuds]

Yeah I'm in their sig campaign and blah blah blah blah, but I have to wonder how legal this is.  It seems to amount to creating a derivative,  and there are securities laws that govern that sort of thing.   These exchanges are all strange.

Interesting point.  Is this considered trading futures?  

Who could further elaborate on this topic from a law perspective?  

Also, from which country is Yobit operating?

[The Sceptical Chymist]

Yeah I'm in their sig campaign and blah blah blah blah, but I have to wonder how legal this is.  It seems to amount to creating a derivative,  and there are securities laws that govern that sort of thing.   These exchanges are all strange.

Interesting point.  Is this considered trading futures? 

That's what I'm wondering,  but there are no contracts and so forth that you see with real derivative trading.   And I don't think shitcoins are considered securities.   And yeah is there a lawyer in the house?!  I'd love to hear answers from someone who knows.