Bitcoin Forum
April 22, 2018, 11:52:25 AM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Attorney Bitcoin on ICO's and the SEC  (Read 168 times)
AttorneyBitcoin
Full Member
***
Offline Offline

Activity: 167
Merit: 101


View Profile
November 09, 2017, 07:34:02 AM
 #1

Dear Crypto Community:

Offering a coin or token to the public for sale has recently become more difficult. The SEC has determined that if this occurs, and the purchasers of the coins or tokens are passive investors, then it becomes a security and falls under their jurisdiction.

What does this mean? It means that you must first be registered with the SEC which means jumping through hoops and following rules such as creating a prospectus for the review of the SEC; registering with the SEC and many other tasks that will require legal expertise, time and commitment.

Ignore the SEC at your peril. Unregistered securities sold to the public can lead to civil and even criminal consequences.

There are some exemptions to being considered a security. These require study, scrutiny and for the most part should be handled by an attorney on behalf of the Dev/Owners of the coin or token. An exemption must be requested and approved.

I hope this post makes Dev's aware that there are likely SEC requirements that they must follow for a public offering. My law firm will be happy to walk you through this process.

Myself, George D. Greenberg, Esq. and my associate attorney, Huong X Lam, Esq., handle most areas of crypto-currency law and provide related business advice. We welcome your questions here.

Please ask related questions only if you are either invested in crypto, in the process of starting, or well on the way to a crypto business venture. This particular blog is for problem solving and not philosophical issues.

Happy Mining:

George D. Greenberg, Esq.

www.attorneybitcoin.com
1524397945
Hero Member
*
Offline Offline

Posts: 1524397945

View Profile Personal Message (Offline)

Ignore
1524397945
Reply with quote  #2

1524397945
Report to moderator
1524397945
Hero Member
*
Offline Offline

Posts: 1524397945

View Profile Personal Message (Offline)

Ignore
1524397945
Reply with quote  #2

1524397945
Report to moderator
1524397945
Hero Member
*
Offline Offline

Posts: 1524397945

View Profile Personal Message (Offline)

Ignore
1524397945
Reply with quote  #2

1524397945
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1524397945
Hero Member
*
Offline Offline

Posts: 1524397945

View Profile Personal Message (Offline)

Ignore
1524397945
Reply with quote  #2

1524397945
Report to moderator
1524397945
Hero Member
*
Offline Offline

Posts: 1524397945

View Profile Personal Message (Offline)

Ignore
1524397945
Reply with quote  #2

1524397945
Report to moderator
jungwong
Jr. Member
*
Offline Offline

Activity: 31
Merit: 0


View Profile
December 15, 2017, 10:34:54 AM
 #2

What I like about all this is the fact that many Ponzi ICOs will disappear soon, it will be very difficult for them to bounce back from this. Which also means that Blockchain market will become trustworthy, and more stable. And companies will probably focus more on creating valuable Blockchain/Fin-Tech than to simply sell tokens.
AttorneyBitcoin
Full Member
***
Offline Offline

Activity: 167
Merit: 101


View Profile
December 16, 2017, 06:04:39 PM
 #3

Well put. We cannot ignore the bad actors in our midst and self regulation is in order until laws and enforcement catches up. I will only represent those engaged in legitimate projects. Not the cut and run scammers.

Best:

George D. Greenberg, Esq.

www.attorneybitcoin.com
laquanghuy
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
December 18, 2017, 11:51:38 AM
 #4

If i bought ICO and later found out that it was not for US citizen, was it illegal? Thank you
AttorneyBitcoin
Full Member
***
Offline Offline

Activity: 167
Merit: 101


View Profile
December 18, 2017, 05:52:33 PM
 #5

If i bought ICO and later found out that it was not for US citizen, was it illegal? Thank you

Can you please clarify? An ICO is an Initial Coin Offering to the public. You say you "bought ICO" I need you to elaborate on this. Also please define what you mean by "...later found out that it was not for US citizen.. what do you mean by 'it' what is the 'it' that you are referring to.

Thank you,

George D. Greenberg, Esq.

www.attorneybitcoin.com
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!