Eligible to invest in ICO? Simple Question

jakelyson

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Quote from: hotcoffee on October 29, 2017, 12:46:20 AM

Hello,

I am a newbie so please pardon my silly question. I am Indian citizen but currently living/working in USA.

I have seen in some ICO websites that they don't allow citizens from USA to invest in them. Is this also true when the coin hits exchange? Can I but any coin from exchange or are there restrictions?

This is to avoid the SEC ruling over the ICO. US SEC ruled that ICOs are securities and should be regulated. So, some ICOs avoid this conflict by not selling to those who live in US. I think if you are in US, you should not get involved to avoid additional risk.

btcney

hero member

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Quote from: hotcoffee on October 29, 2017, 12:46:20 AM

Hello,

I am a newbie so please pardon my silly question. I am Indian citizen but currently living/working in USA.

I have seen in some ICO websites that they don't allow citizens from USA to invest in them. Is this also true when the coin hits exchange? Can I but any coin from exchange or are there restrictions?

Nope. It's only the ICO process that is restricted.

US based exchanges such as Bittrex or Poloniex will allow you to purchase ICO tokens or sell them, even when the token gets swapped for real on chain coins that are native to whatever platform you bought the ICO for.

It's similar with Chinese investors as well.

coingrow

full member

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There are restrictions in place if you are a US citizen and therefore should not buy into ICO's. However you are still able to buy coins when they are in exchanges. BTW, many people from USA buy into ICO's if there is no kyc, but at their own risk.

Dmitry.Vastov

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Quote from: hotcoffee on October 29, 2017, 12:46:20 AM

Hello,

I am a newbie so please pardon my silly question. I am Indian citizen but currently living/working in USA.

I have seen in some ICO websites that they don't allow citizens from USA to invest in them. Is this also true when the coin hits exchange? Can I but any coin from exchange or are there restrictions?

Yes, you can invest in various coins by buying them from various exchanges. You might face about of problem when you will get them exchanges for dollars, but i don't think that you will face any problems if you get them exchanges for rupees in India.you can simply cash them out in an Indian bank account and transfer the money into your us bank account.
And also there are some developers and projects who will allow you to invest in their ICO as these restrictions are put up by the developers only to protect them from the government procedures and allegations.

Acguy

sr. member

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The warnings aren't there to protect you they're to protect themselves.

ss890

sr. member

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Quote from: hotcoffee on October 29, 2017, 12:56:48 AM

So, buying coins from exchange in USA is legal? Let us say I find a warning in ICO that doesnt' allow investment from US, can I buy the coin when it hits exchange?

You can buy it from anywhere. The problem will arise when you will be withdrawing the earnings from the exchanger to your fiat currency. As you will withdraw the money into your US based bank account then they will raise questions from where you got the money.

If you are India based then you can simply withdraw the money into Indian bank account. They don’t have any ban on bitcoin at this movement. Then you can send the money back to your US based account which you can use normally.

Tux99

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Quote from: Tipstar on October 29, 2017, 12:59:49 AM

You can invest or buy according to your wish but It's you who have to answer in case of the authorities asking you about your intention.
And I believe they would have no right to confiscate your funds if you could prove your income source be legit.

YES, sure you can buy it when it enter the exchange. also you can some ico that allow by the developer, since not all ico forbid USA citizens to join.

OneUnderBridge

sr. member

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Quote from: hotcoffee on October 29, 2017, 12:56:48 AM

So, buying coins from exchange in USA is legal? Let us say I find a warning in ICO that doesnt' allow investment from US, can I buy the coin when it hits exchange?

There is nothing illegal about purchasing them in the USA codes. The exchanges and the developers put those restrictions in their to protect themselves from SEC regulations because some tokens might be considered securities. You are allowed to buy them but they are not allowed to sell securities to US citizens without going through the regulatory processes.

Tipstar

sr. member

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You can invest or buy according to your wish but It's you who have to answer in case of the authorities asking you about your intention.
And I believe they would have no right to confiscate your funds if you could prove your income source be legit.

hotcoffee

newbie

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So, buying coins from exchange in USA is legal? Let us say I find a warning in ICO that doesnt' allow investment from US, can I buy the coin when it hits exchange?

WalkerIVIV

hero member

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Cryptocasino.com

Quote from: hotcoffee on October 29, 2017, 12:46:20 AM

Hello,

I am a newbie so please pardon my silly question. I am Indian citizen but currently living/working in USA.

I have seen in some ICO websites that they don't allow citizens from USA to invest in them. Is this also true when the coin hits exchange? Can I but any coin from exchange or are there restrictions?

You can try to buy them through the excahnge site, But i think a lot of people from usa already avoided such warning. Because i've seen some people from us still trade in the crypto market with anonymous identity

hotcoffee

newbie

Activity: 10

Merit: 0

Hello,

I am a newbie so please pardon my silly question. I am Indian citizen but currently living/working in USA.

I have seen in some ICO websites that they don't allow citizens from USA to invest in them. Is this also true when the coin hits exchange? Can I but any coin from exchange or are there restrictions?

Topic: Eligible to invest in ICO? Simple Question (Read 200 times)