And? You imply that they are doing something wrong if they don't want to follow your regulations, while you don't even consider the regulations may be bad for crowdfunding. Or maybe you have an ingrained chauvinism thinking that everything coming from USA is superior and should be observed by all other countries. This is how you become a sheep inside your own land, by not questioning your own rules in a healthy way.
These regulations are in place to protect us investers (from broken promises). Initial coin offerings promise tokens that supposedly secure a profit/reward/guarantee of benefits. The U.S requires receipts (proof & registration) if you want to sell these securities.
False, not all ICOs promise this. And having some smart contract, say, distributing share of fees in token usage, is the whole point of this tech. Not because they want to be "outlaws", but because regulations are a hindrance, smart contracts are supposed to guarantee execution of contractual clauses without human intervention. So, would you like to go back to live in caves if construction were not regulated?
Crowdfunding and shares in form of tokens is a huge way to speed up and integrate economic activities around the globe. A Pakistani guy can fund a startup in Colombia and make profit out of it automatically. Rich investors can fund startups in developing countries and speed up their economies with minimal bureaucracy, thus equating wealth, economic activity around the globe and diminishing poverty, class struggles, mass migration, in sum, increasing peace. This is the potential you agree to shut down if you just leave it to the "wise hands" of bureaucrats.
Are ICO's securities? Yes & No (quantum state of superposition)
You have now entered the twighlight zone (Legal Gray Area of Law) where things are never quite what they seem. The only way to navigate this zone, is to strap in, put on your extra dimensional space helmet, and proceed with caution. These are shark infested waters. You'll need an elite fisherman (financial lawyer) to navigate this sea of complexity.
This ''elite fisherman'' is the exact parasite who profits from all the regulations and bullshit. There is nothing "elite" about creating difficulties to sell solutions later on. Does NYC ring a bell?
It does not matter if they fit this or that law, act, regulation. Regulations need to adapt to new paradigms, not the contrary, unless you want USA to be a bureaucracy Republic ruled by tech-ignorant lawyers squeezing everything inside their memorized expertise field.
Thank you.
Any donation received is greatly appreciated!
Btc: 1CeBDYB3uaaYZ3bMKTvfEc1EHiskQ8Tdp
Why should we donate something? lol
ps: of course we need something as a protection for people to get their money back, to punish scammers, etc. I'm just scared to read how people are willing to give a blank check for "regulation". Ultimately, people should be free and not be prevented of putting their money in whatever they want, and also to launch their product in the economic wilderness and be judged by the crowd. So, regulation to prevent fraud is one thing, regulation just because "this token is like a security" is bull.
