What happens is that "non-US company" becomes a conduit or a tool to promoting something which bypasses KYC regs. Using loopholes might not be illegal but I'm sure those loopholes were nicely covered and dealt with by those who made the rules. I'm sure there's something unlawful about using a third party to facilitate something which, in the assumed absence of that third party, would have not been allowed or would have been illegal in the first place.
Your analogy and the way you explained the process of circumventing KYC restrictions or rules on who may or may not participate might not pass the test of ICO providers. They will probably also KYC that "non-US company" you suggested and if it is discovered that they are acting as an intermediary for US citizens, legal and compliance troubles might ensue.
Topic: how to let Americans participate legally in ICOs - discussing roundabout ways (Read 98 times)
February 21, 2018, 10:17:13 PM
February 21, 2018, 07:54:22 PM
So Americans (Chinese, etc) are missing out on ICOs that are KYC.
I have an idea how to help them to take part in those ICOs even they are not accredited investors.
Please tell me what you think about it/maybe you have a better vision?
So we start a non USA based company.
the non US based company offers participation in the ICO as a Productised Service. (think of lootboxes in the video games)
What the company does:
1. there is an ICO Americans are missing out on. Lets call it ThisPopularICO.
2. the non-US company offers a product, a lootbox, a whatever (piece of stone) called "ThisPopularICO".
3. US citizen send crypto (ether) to non-US company to buy the product called "ThisPopularICO".
4. the non-US company invests ether into the ICO.
5. US citizen receive their lootbox eletronically (or a piece of stone from those nice offshore beaches by airmail if need be)
5. US citizen sell the product back to non-US company in exchange of crypto (not ICO tokens but the initially sent ether)
This way the American investors do not get the ICO tokens but their multiplied ether back when they think fit. It is as close as investing and getting tokens as possible.
the American investors do not invest into ICO, they buy the product, the lootbox. The STONE. They do not get tokens, they get their crypto (ether)back. No investment, no anhthing, we sell/buy lootboxes here
What do you think?
I have an idea how to help them to take part in those ICOs even they are not accredited investors.
Please tell me what you think about it/maybe you have a better vision?
So we start a non USA based company.
the non US based company offers participation in the ICO as a Productised Service. (think of lootboxes in the video games)
What the company does:
1. there is an ICO Americans are missing out on. Lets call it ThisPopularICO.
2. the non-US company offers a product, a lootbox, a whatever (piece of stone) called "ThisPopularICO".
3. US citizen send crypto (ether) to non-US company to buy the product called "ThisPopularICO".
4. the non-US company invests ether into the ICO.
5. US citizen receive their lootbox eletronically (or a piece of stone from those nice offshore beaches by airmail if need be)
5. US citizen sell the product back to non-US company in exchange of crypto (not ICO tokens but the initially sent ether)
This way the American investors do not get the ICO tokens but their multiplied ether back when they think fit. It is as close as investing and getting tokens as possible.
the American investors do not invest into ICO, they buy the product, the lootbox. The STONE. They do not get tokens, they get their crypto (ether)back. No investment, no anhthing, we sell/buy lootboxes here
What do you think?
Jump to: