I'm an ICO advisor and recently I had a case where where lawyers of
https://icobox.io jeopardize my clients legal safety by completely ignoring the laws of client's local country.
My client has Namibian company and the The Bank of Namibia announced that spending cryptocurrency in Namibia is illegal:
https://www.ethnews.com/bank-of-namibia-use-of-cryptocurrencies-prohibited-within-countryAnd guess what type of legal advice lawyers from ICObox gave to my client?
They told him to:
- Comply with KYC and AML.
- Not accept investors from USA, China and South Korea.
So the basic crap everyone in ICO industry knows already.
But they told him nothing about crypto situation in Namibia, which could be a risk for my client.
And they charge 16 BTC (= over $150k at todays are) +1,5% of raised funds for this crappy service
https://icobox.io/#servicesICObox, really? For that money you can hire a very good lawyer to work for you for a year!
You not only rob your clients, but also provide false legal advise as well?
Luckily I advised them to:
- Establish a company in new jurisdiction that is more crypto friendly.
- Consult with Namibian lawyer and with the lawyer of the jurisdiction where they plan to open new company, to make sure there is no legal risk for them.
So my client was saved from possible legal tragedy.
So remember: Always consult with the lawyers from your own country! Not with some crappy ICO lawyers who know only USA laws.
P.S. I also noticed that while ICObox claim to have over 80 employees and work on 3 continents you cannot find any information about their physical or legal address. I wonder why they need to hide this information.