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Author Topic: What legal options do US citizens have for investing in lending ICO's?  (Read 64 times)
mycryptokingdom
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January 07, 2018, 07:36:27 AM
 #1

Now of course most will say "there are none", or "use a VPN", sure I know that, but what i'm asking is what about investing while outside of the US?

Or possibly dual citizenship. Would this make a difference in some capacity?

I would love to hear what some others are doing outside of using a VPN.

Any links to legal sources online which address this delima and offer possible solutions would be appreciated.

Thanks!
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MadZ
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January 07, 2018, 08:33:01 AM
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Assuming that all ICO's are considered by the SEC to be securities, my cursory research suggests that there are two ways you can invest in them legally.

1. ICO issuer registers with the SEC and complies with securities laws- everyone can invest
2. ICO issuer does not register with the SEC- only accredited investors can invest

Scenario 1 is fairly unlikely, and most ICO issuers usually don't care to ensure that all investors are accredited, so they more often just don't allow US investors.

Source: https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_coinofferings
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January 07, 2018, 08:46:43 AM
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So in a nutshell investing legally is highly unlikely here in the states...

Thanks for the reply


Assuming that all ICO's are considered by the SEC to be securities, my cursory research suggests that there are two ways you can invest in them legally.

1. ICO issuer registers with the SEC and complies with securities laws- everyone can invest
2. ICO issuer does not register with the SEC- only accredited investors can invest

Scenario 1 is fairly unlikely, and most ICO issuers usually don't care to ensure that all investors are accredited, so they more often just don't allow US investors.

Source: https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_coinofferings
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January 09, 2018, 08:01:02 AM
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So in a nutshell investing legally is highly unlikely here in the states...

Thanks for the reply


Assuming that all ICO's are considered by the SEC to be securities, my cursory research suggests that there are two ways you can invest in them legally.

1. ICO issuer registers with the SEC and complies with securities laws- everyone can invest
2. ICO issuer does not register with the SEC- only accredited investors can invest

Scenario 1 is fairly unlikely, and most ICO issuers usually don't care to ensure that all investors are accredited, so they more often just don't allow US investors.

Source: https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_coinofferings

No problem, I'm sorry the news isn't better, unfortunately. I did read an interesting article that suggests some ICO's might not qualify as securities if the purpose of the token is more than just a crowdfunding mechanism. That is to say, tokens that already serve some function at the point of ICO could potentially be legal to own in the US. Not sure if the SEC will see it the same way, but it's possible.
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January 09, 2018, 12:13:22 PM
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The issue about the legality of ICO participation at this time is still dicey because from what I have read so far, aside Chinese government that have come loud and clear to ban it, other countries including the US has just sit on the fence and even the ICOs that are expressly refusing US citizens are doing so not because they are against the law but are inferring that they might be against the law because most of the regulations that have been talked about, are mostly generic and not specific to crypto currency. So, until there is a land mark law passed, or big judgement delivered, we all have to wait.

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2342q6tegw
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August 27, 2018, 10:36:19 AM
 #6

Following some recent court rulings in Europe, looks like those with over $2322 can invest in EU as part of a syndicate. EU's accredited investor rules are lot more lax it would seem. Check with your local legal counsel.
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