[ANN] Blackmoon Crypto Platform for Tokenized Investment Fund

[K-]

US is not restricted in ICO for Blackmoon?

I think there are restrictions as far as US citizens becoming  "Continuous Contributors" which allows it participants to receive a share of all Funds’ tokens which are considered securities and subject to US regulations. However, I don't think they will be able to restrict a purchase of BMC tokens, only the ability to register as a "Continuous Contributor."

Furthermore, according to their FAQ: "Will you distribute Fund tokens in the USA?"

"During 2018, funds on the platform should be able to distribute tokens to US citizens via brokerage firms and exclusively to authorized investors. We intend to apply for our own broker-dealer license in the US and to receive it in 2019."

It should be noted that it appears that "Fund tokens" are different from "BMC tokens" because "Fund tokens" require a registration which utilizes "BMC tokens" to register as a "Continuous Contributor."

Right? Somebody correct me if I'm wrong.

BMC tokens and fund tokens are different.

BMC tokens -> platform Blackmoon Crypto tokens
Fund tokens -> tokens of fund tokenized on the platform.

What you say is a little bit different: it regards the fund tokens and not BMC tokens related to ICO/platform.

[CryptoDude2727]

US is not restricted in ICO for Blackmoon?

Yes at the moment US citizens are not allowed to buy during ICO because of current regulatory uncertainty and before additional information is publicly released by the Blackmoon Platform on the matter, green card holders of the United States or citizens or residents (tax or otherwise) of the United States of America, Singapore or China, or other U.S., Singapore Person or PRC Person, are not eligible to register as Continuous Contributors as it’s described in the “Blackmoon Crypto Platform” section below. That limits the ability of U.S., Singapore, PRC persons to utilize BMC tokens and participate in the future development of the Platform as well as in the distribution of proceeds.

At the moment there not seems to be particular problems for US investors, but for now probably Blackmoon do not want to take these risks.

Anyway, based on legal advice and opinions gathered by the company during the preparation process, BMC tokens will not fall under the current notion of securities by SEC based on the famous Howey test. Anyway Blackmoon pays a lot of attention to that matter and is in continuous communications with US attorneys while formalizing its position.

Here is the abstract from the opinion:

"we believe that current iteration of the BMC White Paper describes a digital token that is not likely to be deemed a security under applicable US laws.
We understand that the White Paper may be revised further and recommend that the final BMC token should be structured as follows:

(i) only those holders of BMC tokens should receive compensation from their tokens who are actively using their computational resources, investment advisory competences, and other individual skills and capabilities to enable performance of the BMC tokenized investment vehicles network;

(ii) holders of BMC tokens should receive rights to earn future income by active participation and should not receive an expectation or right to receive passive income; and

(iii) holders of BMC tokens should have a reasonable degree of control / participation over the operations and direction of the BMC tokenized investment vehicles network."

It is just a precaution because the regulatory uncertainty. Anyway in company roadmap one of the goal is to get the license as broker-dealer in US so probably when this happen US citizens can invest in Blackmoon Crypto (according to roadmap present in whitepaper this should happen during May 2018 if everything goes well).

I've read US citizens CAN participate in Blackmoon ICO?  I understand the environment, not looking for a long explanation.  Simply... can US citizens participate or not?

[OneUnderBridge]

US is not restricted in ICO for Blackmoon?

I think there are restrictions as far as US citizens becoming  "Continuous Contributors" which allows it participants to receive a share of all Funds’ tokens which are considered securities and subject to US regulations. However, I don't think they will be able to restrict a purchase of BMC tokens, only the ability to register as a "Continuous Contributor."

Furthermore, according to their FAQ: "Will you distribute Fund tokens in the USA?"

"During 2018, funds on the platform should be able to distribute tokens to US citizens via brokerage firms and exclusively to authorized investors. We intend to apply for our own broker-dealer license in the US and to receive it in 2019."

It should be noted that it appears that "Fund tokens" are different from "BMC tokens" because "Fund tokens" require a registration which utilizes "BMC tokens" to register as a "Continuous Contributor."

Right? Somebody correct me if I'm wrong.

BMC tokens and fund tokens are different.

BMC tokens -> platform Blackmoon Crypto tokens
Fund tokens -> tokens of fund tokenized on the platform.

What you say is a little bit different: it regards the fund tokens and not BMC tokens related to ICO/platform.

It appears that it will be possible for BMC tokens to be purchased without the requirement to register as a "Continuous Contributor."

From the FAQ:

What is BMC token?
BMC token is the token of Blackmoon Crypto Platform. Holders of BMC tokens will be able to register as Continuous Contributors to the Platform and receive a share of all Funds’ tokens that operate on the Platform. Also, Continuous Contributors will have the right to participate in “members-only” discussions regarding the Platform strategy and development plan.
Those Contributors who want to be qualified as Investment Managers and manage funds on the Platform are required to own a specified number of BMCs.

Are BMC tokens securities?
Based on legal advice and opinions we gathered during the preparation process, BMC tokens would not be deemed as securities by SEC based on the famous Howey test. We pay a lot of attention to that matter and are in continuous communications with US attorneys while formalizing our position.

And,

Are Fund tokens securities?
Funds' tokens are going to be securities. And we are going to comply with all necessary regulation regarding that fact.

Right?

[oncdoc]

My understanding is usa citizens were ok  in presale only. ICO probably not?

[miKcrypto]

US is not restricted in ICO for Blackmoon?

Yes at the moment US citizens are not allowed to buy during ICO because of current regulatory uncertainty and before additional information is publicly released by the Blackmoon Platform on the matter, green card holders of the United States or citizens or residents (tax or otherwise) of the United States of America, Singapore or China, or other U.S., Singapore Person or PRC Person, are not eligible to register as Continuous Contributors as it’s described in the “Blackmoon Crypto Platform” section below. That limits the ability of U.S., Singapore, PRC persons to utilize BMC tokens and participate in the future development of the Platform as well as in the distribution of proceeds.

At the moment there not seems to be particular problems for US investors, but for now probably Blackmoon do not want to take these risks.

Anyway, based on legal advice and opinions gathered by the company during the preparation process, BMC tokens will not fall under the current notion of securities by SEC based on the famous Howey test. Anyway Blackmoon pays a lot of attention to that matter and is in continuous communications with US attorneys while formalizing its position.

Here is the abstract from the opinion:

"we believe that current iteration of the BMC White Paper describes a digital token that is not likely to be deemed a security under applicable US laws.
We understand that the White Paper may be revised further and recommend that the final BMC token should be structured as follows:

(i) only those holders of BMC tokens should receive compensation from their tokens who are actively using their computational resources, investment advisory competences, and other individual skills and capabilities to enable performance of the BMC tokenized investment vehicles network;

(ii) holders of BMC tokens should receive rights to earn future income by active participation and should not receive an expectation or right to receive passive income; and

(iii) holders of BMC tokens should have a reasonable degree of control / participation over the operations and direction of the BMC tokenized investment vehicles network."

It is just a precaution because the regulatory uncertainty. Anyway in company roadmap one of the goal is to get the license as broker-dealer in US so probably when this happen US citizens can invest in Blackmoon Crypto (according to roadmap present in whitepaper this should happen during May 2018 if everything goes well).

I've read US citizens CAN participate in Blackmoon ICO?  I understand the environment, not looking for a long explanation.  Simply... can US citizens participate or not?

Yes US citizens are allowed to participate!

[xmGx]

cool project, im joined bounty ^_^

[CryptoDude2727]

Closest competitors to Blackmoon? 

[puremage111]

If you like Taas/Iconomi/Monkey capital and this type of project

Blackmoon Crypto should also be one of the platform that you will be looking for

I am still reading on the whitepapers but i suppose if you are the type which are looking to grow your portfolio but have no idea which to invest

Blackmoon Crypto should be one of the choice that you are looking for

[aaroc90]

Closest competitors to Blackmoon? 

I like these kinds of projects, there is alot of rich people out there with their money in funds who would not dare venture into crypto. Investment funds are something they can relate to

There are similar projects all coming along like DIM, LAtoken etc which i hope will bring alot of attention into this 'investment focused' area

A lot of potential here

[sud]

If you like Taas/Iconomi/Monkey capital and this type of project

Blackmoon Crypto should also be one of the platform that you will be looking for

I am still reading on the whitepapers but i suppose if you are the type which are looking to grow your portfolio but have no idea which to invest

Blackmoon Crypto should be one of the choice that you are looking for

Well, Monkey Capital is a scam, and TaaS isn't anything like Blackmoon. Only Melonport and Iconomi are about crypto funds, so they are direct competition.

[K-]

Closest competitors to Blackmoon? 

In whitepaper there are reported 2 companies considered as competitor: Iconomi and Melonport.
At page 10 of the whitepaper (https://blackmooncrypto.com/bmc_whitepaper_170904_v1.15.pdf) you can find the differences between blackmoon and the competitors.

[K-]

US is not restricted in ICO for Blackmoon?

Yes at the moment US citizens are not allowed to buy during ICO because of current regulatory uncertainty and before additional information is publicly released by the Blackmoon Platform on the matter, green card holders of the United States or citizens or residents (tax or otherwise) of the United States of America, Singapore or China, or other U.S., Singapore Person or PRC Person, are not eligible to register as Continuous Contributors as it’s described in the “Blackmoon Crypto Platform” section below. That limits the ability of U.S., Singapore, PRC persons to utilize BMC tokens and participate in the future development of the Platform as well as in the distribution of proceeds.

At the moment there not seems to be particular problems for US investors, but for now probably Blackmoon do not want to take these risks.

Anyway, based on legal advice and opinions gathered by the company during the preparation process, BMC tokens will not fall under the current notion of securities by SEC based on the famous Howey test. Anyway Blackmoon pays a lot of attention to that matter and is in continuous communications with US attorneys while formalizing its position.

Here is the abstract from the opinion:

"we believe that current iteration of the BMC White Paper describes a digital token that is not likely to be deemed a security under applicable US laws.
We understand that the White Paper may be revised further and recommend that the final BMC token should be structured as follows:

(i) only those holders of BMC tokens should receive compensation from their tokens who are actively using their computational resources, investment advisory competences, and other individual skills and capabilities to enable performance of the BMC tokenized investment vehicles network;

(ii) holders of BMC tokens should receive rights to earn future income by active participation and should not receive an expectation or right to receive passive income; and

(iii) holders of BMC tokens should have a reasonable degree of control / participation over the operations and direction of the BMC tokenized investment vehicles network."

It is just a precaution because the regulatory uncertainty. Anyway in company roadmap one of the goal is to get the license as broker-dealer in US so probably when this happen US citizens can invest in Blackmoon Crypto (according to roadmap present in whitepaper this should happen during May 2018 if everything goes well).

I've read US citizens CAN participate in Blackmoon ICO?  I understand the environment, not looking for a long explanation.  Simply... can US citizens participate or not?

Yes. I edited my previous post because I did not realized I made a mistake when submitted.
US citizens can buy BMC token but they cannot signup as Continuous Contributors on the platform.

[K-]

US is not restricted in ICO for Blackmoon?

I think there are restrictions as far as US citizens becoming  "Continuous Contributors" which allows it participants to receive a share of all Funds’ tokens which are considered securities and subject to US regulations. However, I don't think they will be able to restrict a purchase of BMC tokens, only the ability to register as a "Continuous Contributor."

Furthermore, according to their FAQ: "Will you distribute Fund tokens in the USA?"

"During 2018, funds on the platform should be able to distribute tokens to US citizens via brokerage firms and exclusively to authorized investors. We intend to apply for our own broker-dealer license in the US and to receive it in 2019."

It should be noted that it appears that "Fund tokens" are different from "BMC tokens" because "Fund tokens" require a registration which utilizes "BMC tokens" to register as a "Continuous Contributor."

Right? Somebody correct me if I'm wrong.

BMC tokens and fund tokens are different.

BMC tokens -> platform Blackmoon Crypto tokens
Fund tokens -> tokens of fund tokenized on the platform.

What you say is a little bit different: it regards the fund tokens and not BMC tokens related to ICO/platform.

It appears that it will be possible for BMC tokens to be purchased without the requirement to register as a "Continuous Contributor."

From the FAQ:

What is BMC token?
BMC token is the token of Blackmoon Crypto Platform. Holders of BMC tokens will be able to register as Continuous Contributors to the Platform and receive a share of all Funds’ tokens that operate on the Platform. Also, Continuous Contributors will have the right to participate in “members-only” discussions regarding the Platform strategy and development plan.
Those Contributors who want to be qualified as Investment Managers and manage funds on the Platform are required to own a specified number of BMCs.

Are BMC tokens securities?
Based on legal advice and opinions we gathered during the preparation process, BMC tokens would not be deemed as securities by SEC based on the famous Howey test. We pay a lot of attention to that matter and are in continuous communications with US attorneys while formalizing our position.

And,

Are Fund tokens securities?
Funds' tokens are going to be securities. And we are going to comply with all necessary regulation regarding that fact.

Right?

Exactly, you can buy BMC tokens but you are not eligible to signup as Continuous Contributors if you are US citizen. This is has been reported in the whitepaper in the disclaimer page:


"Furthermore because of current regulatory uncertainty and before additional information is publicly released by the Platform on the matter, green card holders of the United States or citizens or residents (tax or otherwise) of the United States of America, Singapore or China, or other U.S., Singapore Person or PRC Person, are not eligible to register as Continuous Contributors as it’s described in the “Blackmoon Crypto Platform” section below. That limits the ability of U.S., Singapore, PRC persons to utilize BMC tokens and participate in the future development of the Platform as well as in the distribution of proceeds."

But there is no limitation in buying BMC tokens.

[Pumpkin]

IMPORTANT ANNOUNCEMENT

Dear friends,

Good news! On ICO every investor will be able
participate with any amount of contribution,
i.e. no minimums!

Best regards,
BMC Team

[Toltekayotl]

IMPORTANT ANNOUNCEMENT

Dear friends,

Good news! On ICO every investor will be able
participate with any amount of contribution,
i.e. no minimums!

Best regards,
BMC Team

I think this is because of the ban China to participate in the ico. I hope Blackmoon  Crypto will be able to successfully complete ico!

[ahtremblay]

nice project. joined bounty program

[coingrow]

US is not restricted in ICO for Blackmoon?

I think there are restrictions as far as US citizens becoming  "Continuous Contributors" which allows it participants to receive a share of all Funds’ tokens which are considered securities and subject to US regulations. However, I don't think they will be able to restrict a purchase of BMC tokens, only the ability to register as a "Continuous Contributor."

Furthermore, according to their FAQ: "Will you distribute Fund tokens in the USA?"

"During 2018, funds on the platform should be able to distribute tokens to US citizens via brokerage firms and exclusively to authorized investors. We intend to apply for our own broker-dealer license in the US and to receive it in 2019."

It should be noted that it appears that "Fund tokens" are different from "BMC tokens" because "Fund tokens" require a registration which utilizes "BMC tokens" to register as a "Continuous Contributor."

Right? Somebody correct me if I'm wrong.

BMC tokens and fund tokens are different.

BMC tokens -> platform Blackmoon Crypto tokens
Fund tokens -> tokens of fund tokenized on the platform.

What you say is a little bit different: it regards the fund tokens and not BMC tokens related to ICO/platform.

It appears that it will be possible for BMC tokens to be purchased without the requirement to register as a "Continuous Contributor."

From the FAQ:

What is BMC token?
BMC token is the token of Blackmoon Crypto Platform. Holders of BMC tokens will be able to register as Continuous Contributors to the Platform and receive a share of all Funds’ tokens that operate on the Platform. Also, Continuous Contributors will have the right to participate in “members-only” discussions regarding the Platform strategy and development plan.
Those Contributors who want to be qualified as Investment Managers and manage funds on the Platform are required to own a specified number of BMCs.

Are BMC tokens securities?
Based on legal advice and opinions we gathered during the preparation process, BMC tokens would not be deemed as securities by SEC based on the famous Howey test. We pay a lot of attention to that matter and are in continuous communications with US attorneys while formalizing our position.

And,

Are Fund tokens securities?
Funds' tokens are going to be securities. And we are going to comply with all necessary regulation regarding that fact.

Right?

Exactly, you can buy BMC tokens but you are not eligible to signup as Continuous Contributors if you are US citizen. This is has been reported in the whitepaper in the disclaimer page:


"Furthermore because of current regulatory uncertainty and before additional information is publicly released by the Platform on the matter, green card holders of the United States or citizens or residents (tax or otherwise) of the United States of America, Singapore or China, or other U.S., Singapore Person or PRC Person, are not eligible to register as Continuous Contributors as it’s described in the “Blackmoon Crypto Platform” section below. That limits the ability of U.S., Singapore, PRC persons to utilize BMC tokens and participate in the future development of the Platform as well as in the distribution of proceeds."

But there is no limitation in buying BMC tokens.

What is the minimum number of tokens that are required to be registered as a Continuous Contributor??

[artem6662]

Question to developers. Whether investors from China ask to return the investments? I can see the outgoing transactions from pre-sale ethereum addresses

[K-]

What is the minimum number of tokens that are required to be registered as a Continuous Contributor??

Each role will have specific minimum and maximum amounts of BMCs that can be deposited by a Continuous Contributor while executing such a role. The minimum limit will be mostly applicable to Investment Advisors. Anyway the majority of roles won’t have a minimum deposit limit.

The list of available roles will be publicly available on the blackmooncrypto.com website and updated as needed to reflect the current needs of the Platform’s continuous development. One of the main roles will be that of an investment Advisor. Other roles will be Platform promoters, investment analysts, legal advisors, public auditors, GR advisors, etc.

Just for a complete information: to be qualified as an investment advisor on the Blackmoon Crypto Platform, an asset manager must (a) contribute to the company and (b) hold a specified number of BMC tokens in a depository account. The amounts of the contribution and deposit will be case specific, but generally vary from 10,000 to 1,000,000 BMCs. This increases the level of partnership responsibility for the investment advisor on the Blackmoon Crypto Platform and is the final step of the qualification process. Another benefit of this level of participation and partnership with the investment advisors is that it forms a foundation for future self-regulation of the system.

[coingrow]

Question to developers. Whether investors from China ask to return the investments? I can see the outgoing transactions from pre-sale ethereum addresses

Blackmoon team is returning the money to all the Chinese based investors to comply with the Chiense government announcement yesterday!