Geenstijl
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Merit: 1000
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November 09, 2017, 10:48:10 AM |
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SEC is very serious structure to play with. Just few projects are able to pass their (SEC) test to be able to take contributions from US citizens.
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Sewarlock
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Activity: 116
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November 09, 2017, 11:04:51 AM |
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The regulation in each country is different, American is specifically tough towards investing because it's the largest economy and everything basically starts from there. They have had a lot of experience in the finance sector and know what "rules" have to be put into place to make things sustainable. The way things work right now are not very structured at the moment, but the market is gaining traction and in a couple of years, this might become a real issue (if markets are not regulated). I think it's good that America doesn't allow all it's citizens to invest into ICO's because many of them are frauds to start with. There are so many projects right now that won't make it far, and many investors will end up with their pockets empty. China might start banning even more people and exchanges from participating in ICO's so they might not be the only one's (Americans) to be excluded from the party.
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Dodoymabs
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November 09, 2017, 12:02:48 PM |
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Most foreign brokerage houses and banks refuse to deal with U.S. persons because of the onerous compliance requirements.FATCA requirements are so restrictive and obtrusive that many foreign banks and financial institutions just refuse to do business with American customers. Also, the tax law and compliance policies are being applied to cryptocurrency ventures which formerly seemed exempt.
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Docbee
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November 09, 2017, 01:21:45 PM |
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They allowed it probably it's not a security ico
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HealthSecurities (OP)
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November 10, 2017, 06:59:41 AM |
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By the way, what do you mean by eastern bloc mobsters?
Check out cartaxi ICO, you will see what i mean. Perfect example of scam that will come undone anytime in the next 6 months. posting here so I remember to see this later!
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HealthSecurities (OP)
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November 10, 2017, 07:01:02 AM |
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Many or most foreign brokerage houses and banks refuse to deal with U.S. persons because of the onerous compliance requirements. As the author quite correctly states near the end of the article
"FATCA requirements are so restrictive and obtrusive that many foreign banks and financial institutions just refuse to do business with American customers.
This makes sense too.. too many rules so easier to go overseas
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altcoinrich
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November 10, 2017, 07:07:00 AM |
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US gov considers ICOs are security, so projects may ban US investors, some ICOs are banning Singapore and Chinese investors too. ICO avoids to suffer legal issue.
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p i e c e
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November 10, 2017, 05:36:48 PM |
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American system itself does not recognize ICO legal projects. Americans believe that it is possible investing only in stocks that are provided with something. Investing in tokens and coins is fraud. This is the main reason why ICO do not cooperate with the USA citizens.
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Erkallys
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Merit: 1004
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November 10, 2017, 05:39:40 PM |
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Because United States are a tyrany run by a corrupted elite. And to prevent people to finance great projects without them taking an absolutely unfair part, they banned any of their citizens to invest in profit-sharing ICOs, also called securities. Thank you SEC !
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ronatrip
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November 10, 2017, 10:17:44 PM |
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I remember correctly the United States has issued the same law ico like Korea and Korea, if the information is accurate then you are not allowed to invest in ico. But not necessarily you have to invest in ico you can make money but there are many other such as trading bitcoin or trade coin on the exchange or invest in projects that your country allows
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aladdinms
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January 31, 2018, 10:28:35 PM |
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samtarly
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Pre-sale - March 18
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January 31, 2018, 10:38:58 PM |
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Just imagine how big government institutions you will faced if you breach some of its laws and besides those ICOs don't want to mess their project and avoiding such implications is better for investors outside of american territory.
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