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EU citizen participating in ICOs.
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Topic: for US Citizens: if you use VPN to buy into ICO, can the Government penalize? (Read 3699 times)
June 27, 2018, 03:55:10 AM
January 25, 2018, 09:27:12 AM
As a lot of restrictions towards USA citizens in participation into ICO abroad from their main country, we used to see a lot of users trying to overpass this situationusing different methods of VPN and intracable navigators. That restriction is always made by un-trust projects or projects established in countries where no rights for non-citizens investors. I suggest you not using a VPN but not participate in those ICO so your government can defend you in most cases.
January 25, 2018, 09:15:02 AM
So I live in the USA, New York State.
If I use a VPN to buy into an ICO, will the US Gov't or even New York state government punish me somehow?
If you are sitting through one encryption system then there is easy to calculate where you are and you can be punished. you should use more protection. If I use a VPN to buy into an ICO, will the US Gov't or even New York state government punish me somehow?
January 25, 2018, 07:17:03 AM
So I live in the USA, New York State.
If I use a VPN to buy into an ICO, will the US Gov't or even New York state government punish me somehow?
But that wiill be difficult, There is a lot of people from US already cheated the system to participate in ico, that was why some ico already applied the KYC approval to participate in the ico. If I use a VPN to buy into an ICO, will the US Gov't or even New York state government punish me somehow?
It seems you will be fine and will not get any punishment for that. But you will not do it again for sure.
But if i were you do not cheat for your own safety because you will questioned by the IRS if you have a lot of money.
January 23, 2018, 08:48:00 AM
There is no law that says you can't buy into an ico.
The reason why ico's exlude americans is because the SEC classifies most ICOs as securities.
As such, the company itself is subject to various regulations and even potential obligatory reporting of their investors.
Basically, it is too much of a hassle for a company to deal with it and they don't need american money anyway so they ban us investors.
You yourself, will never be punished for investing.
However you can be penalized for not reporting your assets when you file your taxes.
Tax evasion is a serious crime and if you ever get audited, that is one giant shitshow.
If there is an ico you want to invest in, but they exclude us citizens, then you can either have someone but them for you, or sometimes you can even contact the dev team directly to work things out (only if you are willing to put in a substantial sum, we are talking 75k usd and up).
Of course, there are so many icos the easiest thing would be to find one that allows us citizens.
The reason why ico's exlude americans is because the SEC classifies most ICOs as securities.
As such, the company itself is subject to various regulations and even potential obligatory reporting of their investors.
Basically, it is too much of a hassle for a company to deal with it and they don't need american money anyway so they ban us investors.
You yourself, will never be punished for investing.
However you can be penalized for not reporting your assets when you file your taxes.
Tax evasion is a serious crime and if you ever get audited, that is one giant shitshow.
If there is an ico you want to invest in, but they exclude us citizens, then you can either have someone but them for you, or sometimes you can even contact the dev team directly to work things out (only if you are willing to put in a substantial sum, we are talking 75k usd and up).
Of course, there are so many icos the easiest thing would be to find one that allows us citizens.
January 23, 2018, 08:38:50 AM
The government will not punish you for investing in a ICO. They will punish the company. The regulations are there to protect YOU.
January 22, 2018, 02:24:45 PM
Komodo Coin Already has the answer to this question and is about to launch its first decentralized ICO (DICO)
Check them out going to be the altcoin of 2018.
https://komodoplatform.com
Check them out going to be the altcoin of 2018.
https://komodoplatform.com
January 22, 2018, 01:35:02 PM
US people can bypass using a quality vpn but they might get stuck in KYC procedures if the ICO is offering because they cant provide a different nationality document. If they make huge gains then redirected tax authorities will also question them about the source of the income.
KYC verification is pretty easy to dodge, all that the person needs is the proper tampered documents.I don't know much about it other than that though.
January 22, 2018, 01:30:18 PM
US people can bypass using a quality vpn but they might get stuck in KYC procedures if the ICO is offering because they cant provide a different nationality document. If they make huge gains then redirected tax authorities will also question them about the source of the income.
January 22, 2018, 01:20:55 PM
Nothing is impossible nowadays, even if you use vpn's there is always a way to track your address, so if you are not careful enough government can really penalize you. They can even penalize you more for using VPN. A lot technology has been invented to counter act VPN's so I am sure US gov. Has always a way to track it citizens.
January 22, 2018, 01:20:13 PM
As a US citizen you can still invest in ICOs that aren’t considered securities in the eyes of the SEC. Unless the ICO creators are too paranoid to allow it anyway and have a KYC procedure.
January 22, 2018, 01:06:37 PM
Hey Guys,
Is it not possible for the US gov to track down while filing down the taxes ? they may look at the source of the transaction.... any comments........
Is it not possible for the US gov to track down while filing down the taxes ? they may look at the source of the transaction.... any comments........
January 19, 2018, 02:41:44 PM
Well on December 1st, 2014, Estonia opened this platform to the rest of the world. For just €100, you can become an Estonian e-Resident, with a similar ID card and some rights to open a business and bank account in Estonia (and the EU).
September 12, 2017, 05:19:03 AM
Many ICOs nowadays like Kyber and Cindicator is using KYC, so it doesn't matter if you use VPN
or not as you have to provide your identity anway
yeah, vpn won't solve this problem, KYC will refuse the US citizens, including Chinese Mainland now, only can you have other countries' indentification or ertrust others can you participate inor not as you have to provide your identity anway
Anyone looking to get in with Cindicator, have a look at our services offered here: http://icobroker.trade/
The investment cap is fairly low, so we might reach maximum soon.
September 12, 2017, 04:41:33 AM
Many ICOs nowadays like Kyber and Cindicator is using KYC, so it doesn't matter if you use VPN
or not as you have to provide your identity anway
yeah, vpn won't solve this problem, KYC will refuse the US citizens, including Chinese Mainland now, only can you have other countries' indentification or ertrust others can you participate in or not as you have to provide your identity anway
September 12, 2017, 04:19:08 AM
Many ICOs nowadays like Kyber and Cindicator is using KYC, so it doesn't matter if you use VPN
or not as you have to provide your identity anway
or not as you have to provide your identity anway
September 11, 2017, 11:57:21 AM
The government is only going to go after people who don't pay taxes properly (if they can prove it). The SEC laws exist to protect investors. The reason most ICOs don't want US investors is because they don't want the SEC scrutinizing their project.
September 11, 2017, 10:51:40 AM
If you are using anything for the purpose of hiding money from the IRS or the purpose of defrauding, then you are in a bad place. There is currently nothing wrong with buying into an ICO and there would be no good reason to use a VPS. The exchange or site that you use to buy the ICO tokens may have a policy against it and you likely agreed to it in the terms and conditions, which could mean that you spent money only to have your account banned, locked and the funds kept.
September 03, 2017, 05:19:57 PM
So I live in the USA, New York State.
If I use a VPN to buy into an ICO, will the US Gov't or even New York state government punish me somehow?
If I use a VPN to buy into an ICO, will the US Gov't or even New York state government punish me somehow?
No, but it will punish the issuers that sell to you.
September 03, 2017, 04:15:02 PM
everyone needs to ignore Traxo for spreading FUD
You accuse me of spreading FUD, although you agree with his blog:
The article linked makes some solid rational points.
Yesbut he created his own thread about it
Of course I have.
And you are most welcome to refute the blog there (which I very much doubt you will, seeing that you actually agree with some of the points therein).
which is too much energy input for not to gain something...
And are you not wasting too much energy for not to gain something?
You are obviously against the full disclosure so you can profit of the uninformed, because you bought "ICO-issued" token, am I not correct?
his thread was enough
Not enough when profiteers are inviting others to ignore my posts.
Readers should be able to see the information I've linked to, and decide for themselves.
PS:
Thanks for dragging us in the crab bucket once again...
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