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kleeck
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October 08, 2013, 10:17:11 PM |
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I wanna buy direct shares
Or ken can you open up on havelock?
Last I checked they were not accepting new securities. Also, you'd better believe Topace won't touch US securities with a ten foot pole after all this drama. Us Americans are hung out to dry, man. Land of the free... |
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knybe
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October 08, 2013, 10:21:17 PM |
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god what a horror show.
would love to go back to the days of the "the wall."
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elasticband
Legendary
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Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
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October 08, 2013, 10:21:53 PM |
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nice t see shares drop so low...
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crumbs
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October 08, 2013, 10:23:29 PM |
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,,,
Ken mentioned that there is a exchange that is in the works in case BitFunder has to shut down. Would you be able to open that up for us? (US citizens)
Look at the ActM website. Now imagine the same man building an exchange. |
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Puppet
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Activity: 980
Merit: 1040
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October 08, 2013, 10:23:55 PM |
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Moving to yet another exchange isnt going to solve a thing, they will fold and block US citizens one after the other. And after US, they will block other countries when those security commissions wake up and smell the coffee.
Why not make it legal? AFAIK, registering a security with the SEC isnt so hard.
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kslaughter (OP)
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October 08, 2013, 10:27:42 PM |
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Does this run the risk of making ActM itself in violation of US law? Which unfortunatly happens to be grounded on US soil...
I thought it was based in belize. But unfortunately, it doesnt change anything. What is illegal is targeting unregistered securities to US citizens. Doesnt matter if the securities are shares in a US or Belize company. The only way around that is registering the securities with the SEC (and every other national security commission where you want to sell shares, the regulations are quite similar all over the world). No, Active Mining Corporation is based in Belize, and with Bitfunder changing to not targeting US citizens, it will be legal. I am sure, if any other country, send Ukyo a C & D letter, he would just cut off those IP as well. Right now it is the SEC that is the problem, and that will be solved not serving US citizens. |
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kslaughter (OP)
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October 08, 2013, 10:32:17 PM |
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Moving to yet another exchange isnt going to solve a thing, they will fold and block US citizens one after the other. And after US, they will block other countries when those security commissions wake up and smell the coffee.
Why not make it legal? AFAIK, registering a security with the SEC isnt so hard.
And where would the shares trade? |
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Puppet
Legendary
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Activity: 980
Merit: 1040
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October 08, 2013, 10:32:23 PM |
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No, Active Mining Corporation is based in Belize, and with Bitfunder changing to not targeting US citizens, it will be legal. In the US, and pretty much only in the US. Maybe selling unregistered securities is legal in Panama or Botswana, but certainly not in many other countries. US being blocked is just that the SEC is the first commission to move, its not likely to be the last. I am sure, if any other country, send Ukyo a C & D letter, he would just cut off those IP as well. Indeed, until you are left with Panamese investors only. Well, maybe not your problem since you are past IPO, but seriously, have you looked in to registering your securities? You still wouldnt be allowed to use an unregistered exchange, but AFAIK, you would be allowed to sell shares directly. |
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kslaughter (OP)
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October 08, 2013, 10:33:34 PM |
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I wanna buy direct shares
Or ken can you open up on havelock?
Havelock will have the same problem soon, I think. |
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kslaughter (OP)
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October 08, 2013, 10:35:30 PM |
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No, Active Mining Corporation is based in Belize, and with Bitfunder changing to not targeting US citizens, it will be legal. In the US, and pretty much only in the US. Maybe selling unregistered securities is legal in Panama or Botswana, but certainly not in many other countries. US being blocked is just that the SEC is the first commission to move, its not likely to be the last. I am sure, if any other country, send Ukyo a C & D letter, he would just cut off those IP as well. Indeed, until you are left with Panamese investors only. Well, maybe not your problem since you are past IPO, but seriously, have you looked in to registering your securities? You still wouldnt be allowed to use an unregistered exchange, but AFAIK, you would be allowed to sell shares directly. Yes, I have looked into registering this last weekend. |
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redbeans2012
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October 08, 2013, 10:35:54 PM |
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I wanna buy direct shares
Or ken can you open up on havelock?
Havelock will have the same problem soon, I think. US investors are still in the dark here. What if we just hold the shares we have on Bitfunder what will happen? |
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kslaughter (OP)
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October 08, 2013, 10:36:51 PM |
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The Land of the Free? lol you people are not only bankrupt, you have now been told you can't exercise what is to the rest of the world a basic human right - to do what you bloody well want to with your own money. Why do you continue to believe you are the best country in the world? No one else thinks so.
The solution for you oppressed US citizens is to move to one of these 'socialist' european countries where people still have governments that respect and serve their electors. Norway would be a good choice, it has an 800billion euro sovereign wealth fund, free health care, safe streets, very low jobless rates, very high standard of living. Oh but hang on they have a socialist government, those poor people must have no freedom and no rights. Wake up America. Why are you blaming Ken for this lol.
I agree. |
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bobdude17
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October 08, 2013, 10:37:20 PM |
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Consider 796.com? Hong Kong might not care what the SEC wants.
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neilol
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October 08, 2013, 10:39:10 PM |
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I wanna buy direct shares
Or ken can you open up on havelock?
Havelock will have the same problem soon, I think. Still trying to work through the structure in my head...but the solution is offering US investors the ability to trade their shares for private ownership in a US based Limited Partner vehicle. With the JOBS act owners will not need to be accredited investors. Likely the only way to have US investors legally. That or some direct private share in the US based company. |
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Stuartuk
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October 08, 2013, 10:40:54 PM |
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No other country in the world is oppressing its citizens like the SEC and I will eat my hat if any non-US agency sends bitfunder a cease and desist instruction.
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Puppet
Legendary
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Activity: 980
Merit: 1040
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October 08, 2013, 10:47:04 PM |
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Consider 796.com? Hong Kong might not care what the SEC wants.
Doesnt matter what HK thinks. The point is these securities are sold to US investors, and thats where the SEC steps in. BTW, I looked up HK security laws, and they arent too different from US. Its just as illegal there as it is in the US and almost everywhere else to sell unregistered securities that dont fall under certain exceptions. At first glance it even looked a lot more strict in HK. |
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zefyr0s
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October 08, 2013, 10:50:33 PM |
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I think a statement from Ken regarding the recent announcement by Bitfunder is a more pressing concern.
How does Ken's nationality affect ActM's ability to remain listed on BF?
Technically speaking, Ken will not be able to own any shares. e: This is so stupid. |
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kleeck
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October 08, 2013, 10:50:53 PM |
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Consider 796.com? Hong Kong might not care what the SEC wants.
This might be the best solution I've read. |
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zefyr0s
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October 08, 2013, 10:55:05 PM |
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I wonder if Ken considered the option of hiring somebody to run direct shares. It may have to be a very real consideration. Didn't this same thing happen to btct just a month back or so? and then comes the notice that they'll have to close permanently...
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bobdude17
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October 08, 2013, 10:55:20 PM |
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Consider 796.com? Hong Kong might not care what the SEC wants.
Doesnt matter what HK thinks. The point is these securities are sold to US investors, and thats where the SEC steps in. BTW, I looked up HK security laws, and they arent too different from US. Its just as illegal there as it is in the US and almost everywhere else to sell unregistered securities that dont fall under certain exceptions. At first glance it even looked a lot more strict in HK. Yes but SEC stepping in means that they would have to convince somebody to do something. As in Hong Kong officials. And I really think they might not care enough. |
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