Alright. Today’s (yesterday’s) summary of developments.
[snip]
Great info, If you don't mind.. I'm going to forward this info directly to the SEC manager I was previously dealing with.
Just let me know if I can just copy/paste it into an email to him.
Thanks
Folks, the SEC does not care one iota about GAW's trademark applications or corporate formalities or lack thereof.
The SEC is concerned with ONLY one thing: selling and offering to sell unregistered securities by unregistered brokers and dealers. PERIOD.
A security means an interest in profits that is gained through the purchase of a right to the profit (as opposed to profits gained through work, participation in venture, etc. which are NOT securities).
So the "securities" that the SEC is most likely interested in would be:
(1) Paycoin,
(2) Hashtakers,
(3) Zen and Prime Hashlets,
(4) Other Hashlets
The first 3 of these are clearly securities under established laws (GAW might try to argue that the novel nature of cryptocurrency justifies an exception to existing law; but that does not change the fact that existing law would have these classified as securities without a doubt). Other hashlets are very likely securities.
When talking the SEC, what they want to hear is **evidence** about the offering or selling of these items, and **evidence** that these items represent profits interests. No more, no less. The SEC will listen to you all day long, but if you want them to really hear you you need to speak their language. Otherwise, you will be written off.
