You really should be asking a securities lawyer but from my understanding SAFT is simply a proposal at this point and the SEC has not given any opinion on its legality.
The SEC has up to this point has only issued opinions. No new laws. The SAFT was introduced by a few lawers and several ICOs have been claiming to have used it. I'm wondering at what level they used it. The SAFT itself is a security and is offered in place of the token that would normally be delivered to investors during or after an ICO. According to a publication from the chairman of the SEC, posted on the SECdotgov website on Dec.27th 2017, Not one ICO had registered with the SEC as a security. This got me wondering, are these ICOs that claim to have registered really registered securities or are they perhaps registering only at the state level.
All that is beside the purpose of this topic though. My main reason for posting this topic is that we are in the USA and are very close to being launch ready. We have taken all the legal measures in creating our company, obtaining our LLC from the state, crossing all our i's and dotting all our t's. Are the SAFT forms universal or do they have to be specifically written on a case by case basis?
