ICO ban for the US citizens

[XFlowZion]

I've heard that some US citizens still participate in ICOs by borrowing their relatives or friends' documents to use it for KYC. Some agreed for a payment and some don't. There are many ways to bypass the bans if you just explore the internet.

[1715064923]

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[Umkar]

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

US government structures consider investing in bitcoin and ICO projects as a risky investment. Therefore, in order to protect the interests of their citizens, they forbade them to participate in ICO projects. Since such a ban is aimed at preventing a possible loss of funds, it is about investing in ICO projects, and not about participating in the generosity campaigns of the ICO. Therefore, ICO teams illegally require bounty hunters to pass a KYC test.

[Spaffin]

Then it is a mistaken title or misleading. It is not an ICO ban for US citizens. It is investment opportunity ban for US citizens who are not accredited investors. But trust me, so many US people avoiding this. HYIP is the best example:)

Yes, at the same time it means that this ban applies only to investors, not to participants in the generosity campaign of ICO. Bounty hunters can not be subject to the KYC inspection requirements, because they are not investors and this is obvious. I do not understand why this will not go up to bounty hunters in front of ICO teams that require such a test and why bounty hunters like sheep obediently send their identity data to potential fraudsters. When it is obvious that such a claim is illegal.

[chaoscoinz]

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

Disclaimer: "I am not a financial advisor or legal professional. I'm present here posting only to state my opinion. Please seek a professional in your jurisdiction for any financial or legal advice."

  Simple, the U.S has agencies within place to protect their citizens wellbeing from fraudulence and other thievery.
The United States SEC (Securities & Exchange Commission) has tough policies in place that make offering of securities illegal, unless registered and successful approved with their agency first.
   ICO'S who offer tokens as utility, are usually deemed as securities because the token may offer a dividend or other incentives with the promise of profit. This domain of security falls within the realm of the SEC.
    In order to avoid a tiring legal battle with the U.S, other countries wherein the ICO'S are held consult with their legal teams to design disclaimers for would be investors whom are looking to invest in their company, dissuading them from participating.

[izanagi narukami]

My government decide to ban any crypto things mostly because of Criminal and inflation reason.

Criminal.
It can be use for criminal attempt especially for corruptor since our enemy still corruptor.

Inflation.
When valuable things because too high value, it can cause inflation especially when our currency are weak against dollar !

[Tigorss]

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.

because these types of currencies need international rules. This is because the national or regional rules made by each country are not strong enough to be implemented.

[bajigur894784]

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

Obviously, Because the United States is not friendly to ICO cryptocurrency, especially for regulatory reasons. To put this in perspective, the United States is quite strict when it comes to investment regulations. Only accredited investors can take part in the placement of personal securities.

A lot of ICOs take the necessary steps to “deny” US citizens from investing. If they do not take these steps, all sales of their tokens will be subject to criminal charges in the US. That is, assuming the SEC would decide to investigate certain Crowdsale for these specific reasons.

[Girlsbit]

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

It's not so, you misunderstood everything.

[Ojengonggu]

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

It's not so, you misunderstood everything.

indeed, in a bounty program, it is sometimes explained that some countries are not allowed to join either the bounty program or the ICO, but statements like this are not the US government which prohibits its citizens from joining cryptocurrency investment, even if it is only strictly regulated in the rules. this investment as explained by the friend above

[zahed]

ICO has been banded in China.

China and US government trying to hard regulation to investing in ico. A lot of project scam and fraud team management china observing that issue and than decide to about regulation. US citizens can't participate to invest in ico project for banning ico.

[hacekd]

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

sometimes some countries do not accept tokens from bitcoin or other digital currencies because tokens are temporary and there will be no profit for different countries than bitcoin

[Leyss]

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

In the USA, ICO projects are considered too risky for their citizens and they are protected by such prohibitions from incurring possible material losses. However, it should be noted that in this country the restriction concerns investing in ICO projects and there is nothing about participants in the ICO generosity campaign that are not investors. Therefore, the requirement of the ICO team to pass a KYC test to bounty hunters is illegal.

[cetald]

Such an attitude towards ISO refers to the responsibility of the United States towards its citizens. The country protects its investors.

[LeGaulois]

Such an attitude towards ISO refers to the responsibility of the United States towards its citizens. The country protects its investors.

It's ICO, not ISO.
The USA are know to be strict with everything regarding investments, securities, and even casino/gambling. So many big ponzy are from the US. 12DailyPro, TrafficMoonson, StormPay...
The next generation is STO and I am pretty sure in the long run the US government will not deny the use and won't be so strict in regard of it.

[Tapyaks72]

Such an attitude towards ISO refers to the responsibility of the United States towards its citizens. The country protects its investors.

It's ICO, not ISO.
The USA are know to be strict with everything regarding investments, securities, and even casino/gambling. So many big ponzy are from the US. 12DailyPro, TrafficMoonson, StormPay...
The next generation is STO and I am pretty sure in the long run the US government will not deny the use and won't be so strict in regard of it.

Of course US is very protective to their citizens but most of all the government don't want to lost control on some investment of their citizens because of taxes that  may be lost if most if their citizens invest ICO’s, specially that ICO’s are anonymous.

[rhodelmabanal]

Such an attitude towards ISO refers to the responsibility of the United States towards its citizens. The country protects its investors.

It's ICO, not ISO.
The USA are know to be strict with everything regarding investments, securities, and even casino/gambling. So many big ponzy are from the US. 12DailyPro, TrafficMoonson, StormPay...
The next generation is STO and I am pretty sure in the long run the US government will not deny the use and won't be so strict in regard of it.

Of course US is very protective to their citizens but most of all the government don't want to lost control on some investment of their citizens because of taxes that  may be lost if most if their citizens invest ICO’s, specially that ICO’s are anonymous.

I agree mate, US ico project developers allowed the project only to non US residents due to government's concerns. That's why to prove the legitimacy of a certain participants they're required to submit a know your customer strategies which was know in short as KYC. With this ways it could possibly prevent any possibility for US residents with the ICO ran by US developers. The funds will he regulated when other countries residents will participate rather than it's own residents.

[quality.crypto]

I've heard that some US citizens still participate in ICOs by borrowing their relatives or friends' documents to use it for KYC. Some agreed for a payment and some don't. There are many ways to bypass the bans if you just explore the internet.

Of course, there are many ICO companies not allowing the US citizen to participate in the ICO, we don't know whether they are using other people document in order to participate in the ICO. There are very huge chances in the coming days US government will allow to participate in the ICO's.

[DeadCoin]

Yes I also heard the news some companies not allowed their citizens to participate in ico. This is because of they protect their people from scam.

[chickenado]

Yes I also heard the news some companies not allowed their citizens to participate in ico. This is because of they protect their people from scam.

Yeah they are prohibiting their citizens to participate some ICO’s because of non regulated ICO’s, which I think unfair because US is democratic country which means there's a free enterprise among their citizens,  then if their reasons behind is because of deregulation issue, then they should provide, and besides it is the own risk of the investors to invest.

[KrishaBitcoin]

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

ICOs and any kind of investements that would like to operate in the US or to attract US citizens are required to submit documents and requirements for their permit per regulations by the US SEC or they will face prosecution by the US Government. I just wonder why ICOs could not comply about the requirements to think there are lot of potential US investors but maybe asking for permit to operate in the US in not that easy so they choose to ignore the US citizens.