ICO ban for the US citizens

[jdarren]

I get why governments regulate. They want to establish a standard before the general public dives in. Plus, if an average joe were to join the crypto world, he would have to do a lot of research before fully understanding what's going on.

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[gregall]

It's not the ICO's fault. SEC is regulating and these ICO's want to stay on the safe side. Make sure to check when investing in ICO's whether or not they're offering to your specific country.

[doedz]

because their governemt protects them from scam

True, the Government is doing its best to safeguard its people. This is a good move. in the future ICO will become more qualified.
It's a lesson on how to make a good investment, if the Government makes the rules I'm sure ICO will be very good and quality.

[Nameless27]

because their governemt protects them from scam

This is the simplest and most accurate (best) explanation here.

Right, every government stand to protect its people on those scam possibilities. But I hope it is not for the interest of few who have much connection to government. We all know some restrictions comes with self interest and it might not be equal chances for everyone. And it is prone to abuses.

[herehero]

ICO has been banded in China.

[elizavettat]

I wonder how does ICOs make it legal in USA? do you guys know any services?

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

[Dudy]

Many of the ICOs which I participated were shunning away USA residents and anybody holding USA-issued passports. Maybe because they would not want to get entangled with possible legal battle with SEC or any government agency. It can be a big hassle if one day USA SEC would declare that ICOs are not legal. Right now, the SEC has not yet issued any solid pronouncement regulating ICO but we don't what can be in the coming months.

The boom in the ICO market right now is really attracting big and small participants and there is now a trend for niche business to also join the ICO bandwagon. But while this can indeed scam issuers, regulating ICOs can do more harm than good. What we need is a way to do due diligence so we can guide ICO buyers away from possible scams.

you are right in this point


What we need is a way to do due diligence so we can guide ICO buyers away from possible scams


and is the most important issue

[savushkinTA]

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.

[rjefferson]

The US has taken a somewhat solid stand on the matter. Sadly there's big monopolies that control our financial system.

[marcbitcoins]

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

Not only the ICO but the other investing sites too because some of them are HYIP and PONZI scheme in which the US are just protecting the welfare of their people. I remember a bitcoin trading site ethtrade.org was banned in the US but the site reason is all about taxation but after the August 1 the site is truly a scam and US just save the US citizens from this site.

[cleofila]

Can residents of other countries participate ICO?

[legendbtc]

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

Because USA government have lot of regulation and rules, if people abide those USA can take any type of government action without any countries involvements. So many ICO not accepting investments from the USA people into any forms of ICO'S.

[Lieldoryn]

If you wish, Americans can participate in any projects. Perhaps this will need to exert more effort than the Europeans but this is not a problem. USA the first to suffer from the spread of cryptocurrency. Now people move their savings into bitcoin and abandon the dollar. This will put pressure on the US economy. I think we will see more decisive U.S. action against bitcoin.

[WhiteOutMashups]

To put this into perspective, the United States is quite strict when it comes to investment regulations. Only accredited investors can partake in private placements of securities. While some people would urge all cryptocurrency ICOs are tokens and not securities, regulators will have a very different opinion regarding this matter. A lot of the ICOs we have seen can be labeled as traditional sales of equity.

[...]

Once the SEC will effectively intervene in cryptocurrency ICOs – which is only a matter of time – things will get very interesting, to say the least. A lot of previous ICOs didn’t take the necessary steps to “deny” US citizens from investing. All of those projects and their teams are at the mercy of the SEC for the time being. Violating US securities laws is not something anyone wants to deal with. Additionally, these laws can also be enforced upon non-US companies, which makes it even more important to take countermeasures.

And in a more simplistic way:

In the United States, only accredited investors can be offered private placements of securities, and the onus is on the issuer (in this case, the token sale dev team) to ensure that only accredited investors take part, lest they expose themselves personally and their company to potential criminal liabilities in the United States.

Sources:
https://www.quora.com/Why-are-US-citizens-not-allowed-to-participate-in-Ethereum-ICOs-such-as-Status-im-and-others-Why-are-we-blocked
https://themerkle.com/why-cant-us-citizens-participate-in-cryptocurrency-icos/

quite barbaric and draconian, not to allow people of a "free" country access to income and gains in these markets at all

[MaggieDeng]

ICO has been banded in China.

So does Korean as well, also the margin trading in Korean exchange.

[kissme09]

I think then the ICO will disappear or the countries do something to control the ICO I do not buy ico ever but I know about it, ICO is a good place to attract investment with startups but Through this ICO there are quite a lot of scammers so the countries banning it like China and Korea are now fine. I think it will undermine the interests of their countries or the people they have been fooled so much money so the new nations issue a ban.

[kimochidesh]

In recent times, there are lot ICO scams. There are no guidelines/regulation that an ICO needs to bind before its launch so there is no guarantee of your money invested in ICO. So many countries like China/USA has banned ICO in order to protect their citizen's financial interest.

[roddy5]

In recent times, there are lot ICO scams. There are no guidelines/regulation that an ICO needs to bind before its launch so there is no guarantee of your money invested in ICO. So many countries like China/USA has banned ICO in order to protect their citizen's financial interest.

Yes since crypto currency is decentralized even the ICO's are not mandated  or regulated by any law and most of the ICO's failed and looks like a scam. Americans are just being protected by their country from it.

[alexcopper]

ICO's just try to stay safe right now, especially with countries like China.

If you're in the US some ico's to check out are unikoingold and cybermiles. Both are unique ideas and have tons of potential.

[mkmdoc]

In recent times, there are lot ICO scams. There are no guidelines/regulation that an ICO needs to bind before its launch so there is no guarantee of your money invested in ICO. So many countries like China/USA has banned ICO in order to protect their citizen's financial interest.

Because of scam ICO's only most of the countries want to regulate ICO's. In coming days we can able see some real product development will start raising funds through the ICO's. I hope government should come forward to legalize these rules and regulations.