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> Scam =/= terrible investment idea. Any ICO marketed as an investment is likely illegal in the United States. Not necessarily a prima facie scam, but in viol
by JackFr 9y ago
> Scam =/= terrible investment idea.
Any ICO marketed as an investment is likely illegal in the United States. Not necessarily a prima facie scam, but in violation of the Securities and Exchange Act.
- berberous 9y agoYes, I agree that many ICOs are being illegally marketed. Not all, however. 1) Filecoin and other ICOs are using Cooley's SAFT instrument in order to comply with US securities laws, and as a result, have limited marketing to accredited investors. 2) Lots of ICOs are banning US investors.
- JumpCrisscross 9y ago> Securities and Exchange Act These are two separate acts: the Securities Act of 1933 [1] and the Securities Exchange Act of 1934 [2]. (Pedantic, pardon me.) [1] https://www.sec.gov/about/laws/sa33.pdf https://www.sec.gov/about/laws/sa33.pdf [2] https://en.wikipedia.org/wiki/Securities_Exchange_Act_of_1934 https://en.wikipedia.org/wiki/Securities_Exchange_Act_of_193...