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Topic: Are Bitcoin securities Legal? - page 2. (Read 3180 times)

full member
Activity: 121
Merit: 100
September 23, 2013, 11:26:05 PM
#6


 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.


The US Supreme Court has done such thing  - its not even in session.
full member
Activity: 896
Merit: 102
September 23, 2013, 10:34:59 PM
#5
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 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?
full member
Activity: 168
Merit: 100
September 23, 2013, 10:13:06 PM
#4
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.
full member
Activity: 121
Merit: 100
September 23, 2013, 09:13:38 PM
#3
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.
legendary
Activity: 1666
Merit: 1010
he who has the gold makes the rules
September 23, 2013, 07:39:44 PM
#2
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?)
full member
Activity: 896
Merit: 102
September 23, 2013, 05:36:02 PM
#1
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
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