4 ms·
Based on recent SEC reports, The Securities Exchange Act, The Investment Company Act, and Investment Advisers Act are applicable to most ICOs that the SEC deems
by marcusestes 8y ago
Based on recent SEC reports, The Securities Exchange Act, The Investment Company Act, and Investment Advisers Act are applicable to most ICOs that the SEC deems to be in violation of federal law.
- Animats 8y agoThe SEC reacts to complaints of losses. The ICO lawsuits have already started.[1] Currently being sued: Tezos, Giga Watt, Dynamic Ledger Solutions, Centra Tech, Monkey Capital, ATBCoin. Probably more. This is when issuing an unregistered security bites back. The lawsuits often just claim it was an unregistered security, which is easy to prove. If someone lost money, they can go after the people behind the ICO on that basis. [1] https://www.equities.com/news/class-action-lawsuits-hit-cryptocurrency-ico-issuers https://www.equities.com/news/class-action-lawsuits-hit-cryp...
- JumpCrisscross 8y ago> The SEC reacts to complaints of losses The SEC also proactively brings suits against misbehaving persons.