Hi there,
I've read the White Paper, and I found something I don't understand in the "legal" section.
Here it is:
"Sales restrictions
The participation in the ICO is strictly reserved for natural or legal persons acting within the scope of their professional activities. Especially, the professional purchaser claims to have a good knowledge of blockchain technologies and cryptocurrency. Any natural person acting on a non-professional basis as a simple consumer within the meaning of EU Directive 2011/83/EU relating to consumer rights is excluded from the ICO. It is the responsibility of
each purchaser to determine its non-professional status and, in doing so, to refrain from participating in any way in the ICO."
Is it commonplace to find that kind of assertion in a White Paper ?
Does that mean that every participant in the ICO would be seen, according to law, as a professional ?
Hi nitrocryptonitro.
Sorry for the delay, here’s the answer from our legal counsel :
« Due to the unregulated nature of ICOs/Token sales, we can not take the risk of allowing simple consumers to participate in the token sale, all contributors have to join it as enlightened investors. From a legal point of view, this article is a way to warn the general public that ICOs are a specifically risky type of investment, fit for specialized investors only, and not for newcomers and individuals not knowledgeable in blockchain. »