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Author Topic: Legal documents for ICO in the US  (Read 26 times)
MV@100MV
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March 20, 2018, 07:08:51 PM
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Can anyone share legal documents they used to launch their ICO in the US? Thanks!
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March 20, 2018, 07:28:30 PM
 #2

Can anyone share legal documents they used to launch their ICO in the US? Thanks!

You can look for the SAFT framework.  My organization is going to assemble best-practices documents for the different type of offerings (Howey, Reg A+, etc.) but that's not been done yet.

In any event make sure you consult legal counsel.  The repository we build is not intended to replace legal advice; rather, to provide a starting point to bring more lawyers into the know in the crypto realm.

Good luck with your ICO, and strongly consider seeking the advice of an attorney with experience in this specialized area of law.

Best regards,
Ben

MV@100MV
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March 20, 2018, 07:40:33 PM
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Thank you, Ben!
botany
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March 20, 2018, 08:16:59 PM
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Can anyone share legal documents they used to launch their ICO in the US? Thanks!

The first question you have to ask is does the ICO constitute a security offering. If yes, then the requirements to launch the ICO increase manifold. You would have to go through the S-1 and prospectus route.

A flowchart by WSGR can be found here, which can help you decide on the type of offering your ICO constitutes

https://www.wsgr.com/WSGR/Display.aspx?SectionName=publications%2FPDFSearch%2Fwsgralert-initial-coin-offerings.htm
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March 20, 2018, 08:22:42 PM
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Thank you.
Yeah, I have done security-utility analysis and pretty certain that what I have is utility. The question is whether I shall have a legal document in addition to non-legal White Paper. Also wondering whether I shall file anything with SEC.
 
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March 20, 2018, 09:20:21 PM
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  I thought they were making anyone that exchanged crypto for another crypto register as a "Money Transmitter" license . But, every group can't agree on what to classify crypto's as. IRS calls them "property" , One group calls them "commodities" , another "currency" ..

   Best to contact SEC and ask them . If your token offers investments a return on investment tied to the token, it's a security. Which on this basis , wouldn't ALL PoS coins be classified as securities since you earn for holding or staking?

 
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