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What's the SEC got to do with this? Bancor isn't a US company
by elorm 9y ago
What's the SEC got to do with this? Bancor isn't a US company
- QML 9y agoIf a company has American investors, you can expect the SEC can get involved.
- EGreg 9y agoWhat would they do?
- bdcravens 9y agoBring US charges. How hard they pursue extradition is the real question.
- craftyguy 9y agoIs there a precedent of the SEC causing extradition?
- bdcravens 9y agoGiven Bancor is in Israel, this case is interesting: http://www.reuters.com/article/us-israel-fraud/israel-approves-extradition-to-u-s-of-two-securities-fraud-suspects-idUSKCN0Y01E6 http://www.reuters.com/article/us-israel-fraud/israel-approv...
- deleted 9y ago[deleted]
- decentralised 9y agoSEC oversees securities trading, which Bancor does not deal in.
- totalZero 9y agoThe SEC ruled earlier this year that some coins are indeed securities and has brought charges against multiple ICOs. From https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_coinofferings https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_co...: Depending on the facts and circumstances of each individual ICO, the virtual coins or tokens that are offered or sold may be securities. If they are securities, the offer and sale of these virtual coins or tokens in an ICO are subject to the federal securities laws.
- decentralised 9y agoNo it didn't it made a pronouncement which is different from a ruling. The ICOs that it has charged so far didn't have an actual token associated with them so they were scams with a popular (edit: fashionable) name. I really hate that people on HN will down vote comments based on misunderstanding of information freely available.