I'm not certain that a stock exchange platform is legal in the current regulatory environment however I do hope that it becomes legal this type of idea would be amazing. before investing I would ask primarily what are the steps you taking to Sure up your organization against large government entities like the IRS and SEC who are going to come knocking on your door when the time comes, right now it's obvious that you're not big enough for them to care but you're going to answer to some type of regulatory committee eventually.
Thanks for the comment.
We performed a thorough review of the applicable financial legistlation in the States and came to the conclusion that Stockus can operate freely on the US market in compliance with the current laws and directives.
It should be noted that the SEC directs its efforts to protect the investor (or player in this case) from abuse and prevent unlicensed activity on behalf of brokers & spread betting agencies.
Stockus does not fall into either category as it is a game of skills rather than chance, which means it is exempt from the 2006 directive preventing online gambling activity. This was also thr case with FanDuel, although some states initially attempted to prohibit their operations.
Another important distinction to make relates to the fact that Stockus users do not fund an account or make a deposit in order to trade. Each player participating in a tournament has equal rights and identical terms of trading. The game itself is virtual and similar in concept to FanDuel. It should be noted that fees to participate in professional trading competitions and purchase additional features are completely voluntary.
Stockus is built on blockchain technology, which adds an additional level of security and transparency to the game and tournament results. The winners and prize payments are confirmed by the players themselves based on smart contracts. In the event of a disagreement, the results will be objectively confirmed by independnent players acting as witnesses, or if needed by a dedicated Jury of users.
The game itself will use tokens rather than fiat money. Users will also hold balances in tokens which they can transfer to their ewallets and convert into other cryptocurrencies or fiat money at any time. Prizes will also be paid out in the form of tokens and deposited onto user accounts within the application.
