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> Is the ICO is an illegal confidence scam because … the issuers were criminals? The causality works the other direction. > Assume a non-criminal company … Y
by CPLX 4y ago
> Is the ICO is an illegal confidence scam because … the issuers were criminals?
The causality works the other direction.
> Assume a non-criminal company …
Yes if you assume a normal and legal thing (a legal corporate bond) was in fact another thing (an ICO token) then it would be legal.
Much in the way that if you took a Honda Civic and modified it sufficiently that it could fly it would be an aircraft. Until I see someone do that a Honda Civic is a compact car.
- giaour 4y agoI don't think we're disagreeing so much as making unrelated points. I'm arguing that if someone modified a Honda Civic so that it could fly and then said, "this is an airplane now, so I don't need to register it as a car or obey the speed limit when I drive it on the highway," then they are either full of shit or lying to themselves. If you use it as a car, you need to comply with laws for cars.