Does it violate the law if a US company issues direct shares to non-US people?

[thecoinjournal]

Is it possible for btcquick share holders who are not from US to own direct shares from them?

[Fabrizio89]

No, I don't think it violates the law if that person doesn't have business in the US.

[Pale Phoenix]

Edit: Oops, got my threads mixed up. Ignore:

From: http://www.sec.gov/divisions/marketreg/bdguide.htm

The SEC generally uses a territorial approach in applying registration requirements to the international operations of broker-dealers. Under this approach, all broker-dealers physically operating within the United States that induce or attempt to induce securities transactions must register with the SEC, even if their activities are directed only to foreign investors outside of the United States. In addition, foreign broker-dealers that, from outside of the United States, induce or attempt to induce securities transactions by any person in the United States, or that use the means or instrumentalities of interstate commerce of the United States for this purpose, also must register. This includes the use of the internet to offer securities, solicit securities transactions, or advertise investment services to U.S. persons. See Securities Exchange Act Release No. 39779 (March 23, 1998) http://www.sec.gov/rules/interp/33-7516.htm.

This is also the reason that Bitfunder's recent move to block U.S. residents was not a solution to the problems facing that site. I doubt it was based on competent legal advice.