Topic: [ANN][ICO] Fire Lotto - International blockchain LOTTERY - page 44. (Read 13533 times)

Don't be fooled. This scammers are trying to lure you into completely illegal activities. The SEC has no present rules that address cryptotokens specifically, only securities in general. Crypto-tokens that are securities must comply with the laws for traditional securities. The definition of a security is very broad, but does include (by recent clarification) practically all crytotokens that are not utility tokens that have immediate utility and whose value is not tied to the profits of a company or project. A registering a public offering is what a company does before an Initial Public Offering (IPO). It involves Form S-1, and the creation of a prospectus. The costs of producing the prospectus and registration materials, plus the ongoing reporting obligations, are so expensive, that practically no company executes a registered public offering without also “going public” on a secondary stock exchange such as the NYSE or NASDAQ. Otherwise, the costs greatly exceed the benefits (liquidity and access to capital that the major secondary stock markets provide). So do you really believe, that Fire Lotto that does not have a operating license, that is registered in offshore and operated by Russian criminals will be listed on NYSE or NASDAQ ??   This is another confirmation that this project is organized and orchestrated by criminals.