Topic: Are ICO distributions legally binding? (Read 139 times)
Yes most ICOs distribution are legally binding. They specify the manner in which coins to be allocated, inclusive of the number of coins to be allocated to the employees and founding teams.
Actually, ICO Company do have some terms and conditions, which act like formal agreement between investors and users. So, it can be recommended that going through these terms and condition is a must. It’s true that distributors can make some little change, but changes should not be very high in percentage.
Based on the observations i have made as regards so many ICO, distribution varies and some times changes are made as regards distribution, which means there is no law binding them when it comes to the distribution of their tokens. You would have also noticed or read announcements made on some of the threads by some ICOs stating that the terms are not fixed, but that they can be changed.
bounty poll can be change anytime by the bounty manager but only with few difference like 20% down to 18% or 7% 10% and nor probably 50% of the original poll since it will affect the image of the ICO and the manager, and "scam' doubt will starts along their members.
Nope, bounty poll can be change anytime by the bounty manager but only with few difference like 20% down to 18% or 7% 10% and nor probably 50% of the original poll since it will affect the image of the ICO and the manager, and "scam' doubt will starts along their members.
Most ICOs specify how coins will be allocated, including how many coins are given to the founding team and employees etc. Is this legally binding? Is there anything, for example, to stop a company from giving 20% of the coins to the founding team despite promising 7%?
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