For those that truly worry, best I can tell, trading these securities is not illegal and the fact they are unregistered securities doesnt mean they are invalid or worthless (Im sure there is a million other reason why they are worthless though). So as a shareholder, afaik you are not violating any law nor giving up any of your rights.
However issuing these unregistered securities and offering them for sale publicly clearly is illegal in most countries, including the US, as is providing "substantial assistance", "knowingly or recklessly". There is no doubt in my mind that Theswede could be held liable under US law. And thats even if Labcoin were legit and were to put 1000TH online tomorrow.
Of course Ytterbium, Ytterbium & Associates says its all perfectly legal. If in doubt, I suggest you make up your own mind. This is some human readable info from the sec on the subject:
http://www.sec.gov/investor/pubs/preipo.htmThe only thing that matters as far as Labcoin is concerned is whether or not it's illegal in HK. If it's "
clearly illegal in most countries" then it shouldn't be hard to prove, after all that's what "clearly" means.
Although you seem to think that you guessing something might be true is the same thing as it actually being true. Given the fact you were rambling on about cell libraries and RTL code the other day, while clearly you had no idea what you were talking about.
Rambling on about U.S. law when discussing a company based in another country, run by people who aren't Americans is completely irrelevant, other then the fact that Burnside was based in the U.S, likely giving him issues. (and it will also be a problem for ActiveMining)
(dont think that the SEC will consider an IPO on BTCT as a real IPO)
Again, it doesn't matter what the SEC thinks, since they don't have any authority outside of the United States.