ICO ban for the US citizens

[bornforfreedom]

They just want to stay safe with legalities. Now if you're interested in ICO's that allow US residents to participate, you have to do your research. I know that unikoingold allows us residents and ends in a day or so.

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[MsTax]

The US puts tremendous effort into protecting its own citizens from their own stupidity.
The US also puts tremendous effort into keeping US funds in the US.
Combine the two and you see that the US wants to make sure that if the stupid people want to throw away their money then that should happen IN the US and not in Europe.

[StillCrypto]

The USA possesses very restrictive rules regarding the funding of projects in order to make sure that the common man does not get pulled into some sort of pyramid scheme.

The irony here is that the MLM type of projects are becoming the only projects USA folks can get involved in! 

So they are being driven to higher risk propositions.

The founders of these high risk projects find ways to remain anonymous, and this mystery is being accepted by investors, who understand that anonymity is a must, in order to avoid long armed crack-downs, in which case the U.S. would steal everybody's money, as it did with BTC-e.   As such, anonymous ponzi authors are trusted more than US alphabet agencies. 

[jaocoincrypto18]

because their governemt protects them from scam

Indeed, lot of investing sites are now created a scam, HYIP and a Ponzi scheme in which they will just run away the hard earned money of the citizens. I just hope this policy will apply also here in our country so that people will obligate to follow because investing sites here are freely to roam in the internet without proper screening in which it will just depend upon the people on how to protect themselves from a scam investment.

[Harlot]

because their government protects them from scam

The Government protects themselves and their interests. Nothing more. They're the scam as well as their monopolies.

It is more of a theory rather than the truth you are talking about. Claiming that all ICOs are a scam is not really an accurate statement as when you look at an ANN Thread about an ICO here in the forum you will see how many support it and clearly you will see the Website and Whitepaper that comes with it. As for the US Government prohibiting its citizens it is due to the SEC of their country that makes it harder for people to invest in ICOs as they must go to the SEC first before their ICO gets approved.

[BitHodler]

The irony here is that the MLM type of projects are becoming the only projects USA folks can get involved in!  

So they are being driven to higher risk propositions.  

That still doesn't mean that people should put their hard earned cash in these outright scams. If the general public wasn't driven by greed, and had the ability to do actual research, these scams wouldn't exist in this quantity.

It's mind boggling when I see how easily people are willing to invest in anything that promises them unrealistic returns. If I come accross these schemes, my inner alarm starts going nuts immediately, which is something others lack.

Their greed is so strong, that this stupidity is giving scammers more incentive to continue scamming innocent people. Essentially, everyone investing in these schemes is somewhat responsible for the actions of these scammers.

[TrumpD]

There is nothing wrong with governments passing laws it feels will protect its citizens. Whatever their motivations are, I feel regulating the ICO space is most welcome. There are just too many scams in the system, which is hard to tell. If these laws slow them down, then I am all for it.

[Granxis]

Some of the bigger cryptocurrency ICOs will ensure they hire lawyers who can create a more “workable” environment for interested parties. If they would not take these steps, their entire token sale would be liable to criminal charges in the US. That is, assuming the SEC would ever decide to investigate a particular crowdsale for those specific reasons. It is highly unlikely that will happen, even though the SEC is looking to regulate ICOs moving forward.

I think the government does not want to ban ICCs but just wants to take control, but in this case there can be monopolization, a balanced way.

[lichao1395427]

If there is any country that is very complicated and can go to any length to get convictions even to the extent of another country, its the United States and even if I happen to create a service in the crypto world, I am sure to exclude USA citizens because I don't have money to pay lawyers and then being offered a deal to plead guilty over something you probably don't know exist in the first place but that's definitely no excuse to the judicial system for whatever reason.

[TheKeyLongThumbI]

The US puts tremendous effort into protecting its own citizens from their own stupidity.
The US also puts tremendous effort into keeping US funds in the US.
Combine the two and you see that the US wants to make sure that if the stupid people want to throw away their money then that should happen IN the US and not in Europe.

I agree. That is what happened to China and that is why they implemented new rules and regulations to ban ICOs. We know that there are so much money lost with these scammy ICOs and their citizens does not have knowledge to asses these type of investments.

[btc-facebook]

There is nothing wrong with governments passing laws it feels will protect its citizens. Whatever their motivations are, I feel regulating the ICO space is most welcome. There are just too many scams in the system, which is hard to tell. If these laws slow them down, then I am all for it.

AFAIK, ICO mostly lead into scam so that's why some government decided to ban Bitcoin.
Well just like my government still not legalized Bitcoin because Bitcoin can be used to scam people especially corruptor able to use Bitcoin as their advantage

[MoonJeina]

This is not the first time, recently after ban on ICO in China. Many of the ICO's clearly stated that any china's resident cannot take part in ICO all these things clearly indicate the fear that is created by scam coins. People who are not much into cryptocurrency are trapped by scam coins which further leads to allegations on ICO. I think it is sole responsibility of citizens to make sure where they invest their money and should not ban everyone from using ICO.

[EAR74]

Many European ICOs recently that I saw, they all state in their ToS that the US citizens can't participate. Why?

[lisasteca]

I find this prohibition of ICOs for American citizens strange when the US government has recently advised Americans to declare and tax cryptocurrencies in the next income tax return

[fara_buduk]

I find this prohibition of ICOs for American citizens strange when the US government has recently advised Americans to declare and tax cryptocurrencies in the next income tax return

I also often see a project that forbids US citizens from being banned from joining for inves and I once asked their reasons on telegram but they never answered ....

[cryptoassistent]

Hi!
EU citizen participating in ICOs.
Get in touch on cryptoassistent@gmail.com or https://t.me/cryptolighter
and I`ll help you.

[Tylev]

I would like to draw attention here to the fact that US citizens are only allowed to invest in ICO projects. Investment and participation are different concepts. Participation in generosity campaigns ICO does not always refer to investing. However, at this forum there is an opinion that the ICO teams in this connection conduct a check of KYC regarding the participants of the campaign of generosity, including the signature campaign of the ICO. However, this will be wrong, since head hunters do not invest in ICO projects. Therefore, to require them to pass a KYC check to make sure that they are not US citizens will be illegal.

[Bolivar_Tony]

I guess the United States has separate rules for the cryptocurrency. Many American people are allowed to invest and trade bitcoins, but they are not allowed to invest in ICOs

[Snaic]

Any country has the right to adopt with respect to its citizens the rules and restrictions that they consider necessary to protect them. The US government considers the ICO to be very risky for its citizens and has banned their citizens from participating in them. This position can be changed if most ICOs are regulated by states and the degree of risk of fraud is significantly reduced. However, many ICO teams conduct a KYC check for participants in the ICO generosity campaign so that there are no citizens among them, where participation in ICO campaigns is prohibited by their governments. This position is wrong and illegal. The governments of these countries prohibit the participation of their citizens in the ICO so that they do not lose their money from fraud, that is, they forbid investing in these projects. However, I am sure that the speech in these prohibitions does not mean that citizens can not advertise them as participants in the generosity campaign, because they do not invest in ICO projects. Therefore, the very conduct of the KYC test for the participants in the ICO generosity campaign is illegal.

[ulhaq]

isn't this the same as gambling, i see no difference, is gambling prohibited on the USA? if no then it smell like hypocrisy, poeple will always gamble with their money, they can even meet with a stranger and gamble on anything they want

Gambling is prohibited in the USA, except for places like Las Vegas and individual casinos that have special permits, and a couple states in which citizens are allowed to gamble online.

is there any date or general time frame that was communicated by the SEC when there will be clear rules and regulations for US citizens?

I mean it can't be forever like it is now....I understand that the SEC wants to protect their citizens but they have more than enough staff to issue and declare new laws for it.

Without that people will simply find other ways to participate in ICOs.

I do not understand why the governments have so many difficulties to simply make new laws and rules.

I suspect they do not understand the market or simply do not work :-)

The current situation is not satisfying for the investors nor for honest companies that try to have an ICO. Furthermore, it makes the hype around cryptocurreny and the potential risks much bigger....

Governments make an unbelievable number of laws, the problem is that the laws are designed to enrich the wealthy and special interest groups.

I agree. That is what happened to China and that is why they implemented new rules and regulations to ban ICOs. We know that there are so much money lost with these scammy ICOs and their citizens does not have knowledge to asses these type of investments.

The question is why are there so many ppl who are so easily taken advantage of? It is the fault of the government for not educating them properly.