Following the exponential growth of fraudulent securities, Crypto-stock has realized that requiring an email as sole verification requirement could be subject to prosecution as it would amount to criminal gross negligence.
Under the guidance of the Bitcoin Foundation, it was suggested that a more draconian verification procedure should be put in place. It is now required to provide extensive proofs of ones' identity so as to protect investors and avoid jurisdictional repercussions.
Minutes of meeting between the foundation and Cryptostock representative: "All investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it. To achieve this, Cryptostock will now require crypto-based companies to disclose meaningful financial and other information to the public. This will provide a common pool of knowledge for all investors to use to judge for themselves whether to buy, sell, or hold a particular security. Only through the steady flow of timely, comprehensive, and accurate information can people make sound investment decisions.
The result of this information flow will be far more active, efficient, and transparent crypto market that facilitates the capital formation so important to our community's economy. To insure that this objective is always being met, Cryptostock will continually work with all major market participants, including especially the investors in the securities markets, to listen to their concerns and to learn from their experience.
We are confident that the community will profit from the introduction of such long-overdue regulatory system."
Thats a good move by CS and the foundation to step things up, i hope it means that old securitys like JDBIF and other shady things will be required to provide extensive proofs of there identity and disclose meaningful financial and other information to the public to then. Under the guidance of the Bitcoin Foundation, it was suggested that a more draconian verification procedure should be put in place. It is now required to provide extensive proofs of ones' identity so as to protect investors and avoid jurisdictional repercussions.
Minutes of meeting between the foundation and Cryptostock representative: "All investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it. To achieve this, Cryptostock will now require crypto-based companies to disclose meaningful financial and other information to the public. This will provide a common pool of knowledge for all investors to use to judge for themselves whether to buy, sell, or hold a particular security. Only through the steady flow of timely, comprehensive, and accurate information can people make sound investment decisions.
The result of this information flow will be far more active, efficient, and transparent crypto market that facilitates the capital formation so important to our community's economy. To insure that this objective is always being met, Cryptostock will continually work with all major market participants, including especially the investors in the securities markets, to listen to their concerns and to learn from their experience.
We are confident that the community will profit from the introduction of such long-overdue regulatory system."
