Is this project still alive?
Guys have following questions for you:
1. Will you be regulated, in what country the company / fund will be incrporated? What will be the structure holding securities?
2. Where you will keep bought securities? Have you discussed with depositary bank(s)? I doubt strongly that any EU/US bank will accept working with any fund funded by crypto.
3. Have you discussed with any known auditors? Who will check your book keeping?
Tanks for answers,
Cheers
BeReal
Guys have following questions for you:
1. Will you be regulated, in what country the company / fund will be incrporated? What will be the structure holding securities?
2. Where you will keep bought securities? Have you discussed with depositary bank(s)? I doubt strongly that any EU/US bank will accept working with any fund funded by crypto.
3. Have you discussed with any known auditors? Who will check your book keeping?
Tanks for answers,
Cheers
BeReal
We communicate daily on this forum and even more frequent on our Telegram We are indeed alive
1. We are not stock brokers. We will be emitting coins backed by securities. Coin price is linked and correlated to the price of assets. You can find an almost identical structure in Tether USDT project registered in Hong Kong.
2. CryptF is not a cryptofund. All assets bought are owned by our holding. These assets are in fact a guarantee of the coins and support coins liquidity.
We will create a set of new cryptocoins correlated with the price of stocks. We are not creating a highly complex and legally questionable tokenized assets platform. All securities would be stored on our broker account with regular reports verified by the broker.
3. We are currently talking to a number of local NZ auditing and accounting firms. If we manage to show large growth and traction then reaching biggest accounting names would be one of our priorities.
Thank you for asking us these really good question. We really appreciate that our project is so important to you that your first post in this forum was about our ICO.
Thanks for the prompt reaction and answers.
I have financial background - thus your tread attracted my attention. And yes it was my first post here - you have to start by something
1. If assets are bought and hold by the holding company (what jurisdiction?) how the "guarantee" will be structured? How the pricing correlation will be enforced? Can't find your business model on your site.
2. You still will be considered as collective investment scheme as the origin of your funding is the sale of tokens. Thus an important range of compliance/ALM and taxation questions emerges (15% NRWT). Have you checked with your bank at least how they will consider such source of funding? Wanted to know how you are ready to address those issues.
Hope you will manage to address such issues and could present clear plan for your model. Devil is always in details.
Cheers,
BeReal12
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Important disclamer: I'm not associated with any past or ongoing ICO's and expressing my sole and personal opinion.
Most of the ICO will fail as they are not mature neither experienced neither professional and in most cases are pure marketing hypes. Thus an independent due diligence has to be done prior taking any supporting/investment decision. Turn on your brain and ask questions.
