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The majority of those ICOs are not available to us citizens though. Can you name a recent ICO that allowed non-accredited us investors to participate?
by wrench604 9y ago
The majority of those ICOs are not available to us citizens though. Can you name a recent ICO that allowed non-accredited us investors to participate?
- AlexCoventry 9y ago> Switzerland-based Tezos said it did not specifically exclude investors from any country from participating. https://www.cnbc.com/2017/07/18/hot-digital-currency-trend-minting-millions-off-limits-to-us-investors.html https://www.cnbc.com/2017/07/18/hot-digital-currency-trend-m...
- relyio 9y agoThere were lots of disclaimers saying: >"Every potential participant in the fundraiser is responsible for determining the legality of participation within their jurisdiction."
- AlexCoventry 9y agoIt was totally legal for US residents to participate, as far as I know. I believe almost all the securities-law obligations resulting from the sale are on Tezos. (Not a lawyer.) The only obligation on buyers might be that they can't resell it without being guilty of selling an unregistered security themselves.
- wrench604 9y agoThis ico happened before the sec bulletin was issued: https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_coinofferings https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_co... Do you have any more recent examples?
- AlexCoventry 9y agoI haven't been following closely, recently, but literally the first one I checked has no check on residency [0], which is enough to bring it under SEC jurisdiction if the sale goes over other thresholds.[1] Sales before and after the bulletin are subject to the same laws. [0] https://etherparty.io/ico/contribute https://etherparty.io/ico/contribute [1] https://www.sec.gov/divisions/corpfin/internatl/foreign-private-issuers-overview.shtml#IIIA https://www.sec.gov/divisions/corpfin/internatl/foreign-priv...