As of right now only accredited investors can invest, also given the fact that the US Supreme court, recently classified it as pretty much money, it is governed by SEC securities rules.
Topic: Are Bitcoin securities Legal? - page 2. (Read 3176 times)
As of right now only accredited investors can invest, also given the fact that the US Supreme court, recently classified it as pretty much money, it is governed by SEC securities rules.
watching...
i thought that owning stock is legal as is person to person transfer of ownership (if you have a physical certificate), however the solicitation and exchange part is regulated
would love to get it straight from a securities lawyer, and one familiar with the new crowd fund rules (though they haven't been actually put together by the SEC?)
i thought that owning stock is legal as is person to person transfer of ownership (if you have a physical certificate), however the solicitation and exchange part is regulated
would love to get it straight from a securities lawyer, and one familiar with the new crowd fund rules (though they haven't been actually put together by the SEC?)
I just read up on it Today, the crowdfunding portion of the law has not yet taken effect, when it does you will still have to do some minor things, but then you can legally solicit investments to unaccredited investors. As of right now only accredited investors can invest, also given the fact that the US Supreme court, recently classified it as pretty much money, it is governed by SEC securities rules.
Santori, Can you expound upon then what would happen once the crowdfunding rules do get approved, then pretty much soliciting on here for securities to unaccredited investors would be fine correct?
Many participants in the Bitcoin securities market are violating US law. Not all, but many.
Some US Issuers are selling unregistered, restricted securities by means of general advertisements*.
Some exchanges are unlicensed, but US-based.
Some purchasers are reselling their unregistered, restricted securities to unsophisticated, unaccredited investors within one year of purchasing.
Part 3 of Bitcoin Law, my multi-part series on Coindesk will address this.
Edit: The general solicitation rules are lifted as of today, but that doesn't make legal the sale of an unregistered restricted security to unlimited numbers of unaccredited and unsophisticated investors.
Some US Issuers are selling unregistered, restricted securities by means of general advertisements*.
Some exchanges are unlicensed, but US-based.
Some purchasers are reselling their unregistered, restricted securities to unsophisticated, unaccredited investors within one year of purchasing.
Part 3 of Bitcoin Law, my multi-part series on Coindesk will address this.
Edit: The general solicitation rules are lifted as of today, but that doesn't make legal the sale of an unregistered restricted security to unlimited numbers of unaccredited and unsophisticated investors.
As far as I can tell 'legal' in the US these days has more to do with how the various 'law enforcement agencies' feel on any given day than what may or may not be in the body of laws/rules/regulations.
In 50k or so laws/rules/regulations I am sure you can find justification for anything - for or against.
In 50k or so laws/rules/regulations I am sure you can find justification for anything - for or against.
watching...
i thought that owning stock is legal as is person to person transfer of ownership (if you have a physical certificate), however the solicitation and exchange part is regulated
would love to get it straight from a securities lawyer, and one familiar with the new crowd fund rules (though they haven't been actually put together by the SEC?)
i thought that owning stock is legal as is person to person transfer of ownership (if you have a physical certificate), however the solicitation and exchange part is regulated
would love to get it straight from a securities lawyer, and one familiar with the new crowd fund rules (though they haven't been actually put together by the SEC?)
Hello,
To any of the lawyers on here. All the securities listed on BTCT, and these virtual stock exchanges are these legal in the USA? Are they exempt from SEC regulations, especially now with the new crowd funding rules? Do they not fall under any SEC regulation as it's in BitCoins?
Thanks
To any of the lawyers on here. All the securities listed on BTCT, and these virtual stock exchanges are these legal in the USA? Are they exempt from SEC regulations, especially now with the new crowd funding rules? Do they not fall under any SEC regulation as it's in BitCoins?
Thanks
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