I thought bitcoins were pretty safe from this crap.
Bitcoins themselves are pretty safe, but not the services and people who use them without extra precautions. 
Topic: So, stock exchange is not allowed in usa using bitcoins? - page 6. (Read 11631 times)
The real answer is you need legal counsel.
... There is nothing in the SEC regs which limit the securities subject to regulation ONLY if they are bought and sold with USD. ...
... There is nothing in the SEC regs which limit the securities subject to regulation ONLY if they are bought and sold with USD. ...
+1 The same is likely true for most securities regulators anywhere in the world. Only replace USD by the corresponding fiat currency.
The real answer is you need legal counsel.
The simple (I am not legal counsel answer) is the SEC regulates the issuance, underwriting, and trading of securities in the United States. If you offer securities involving American companies/assets/real-estate/etc or to offer securities to American residents then you are subject to their jurisdiction.
The various laws and regulations involving securities could fill a small apartment. It is a massive legal minefield even for relatively straight forward operations. There is nothing in the SEC regs which limit the securities subject to regulation to ONLY those bought and sold with USD. If you were in prison and offered CFD contracts on the price of a pack of cigarettes and inmates paid monthly premiums and margin in cigs then it would still be subject to SEC oversight and regulation. Now in the real world the SEC does have limited resources. They don't go after every small biz raising capital but once again the idiots who dumped $5M into Pirate's oh-so-obvious ponzi scheme suddenly made it "big" enough to get the SEC attention. The passthroughs on GLBSE were a large funnel to feed the ponzi machine. It is asinine to think the SEC would investigate Pirate but not GLBSE. Now that it has their attention they can't just "let it go" doing so would be a defacto acceptance of the status quo.
The simple (I am not legal counsel answer) is the SEC regulates the issuance, underwriting, and trading of securities in the United States. If you offer securities involving American companies/assets/real-estate/etc or to offer securities to American residents then you are subject to their jurisdiction.
The various laws and regulations involving securities could fill a small apartment. It is a massive legal minefield even for relatively straight forward operations. There is nothing in the SEC regs which limit the securities subject to regulation to ONLY those bought and sold with USD. If you were in prison and offered CFD contracts on the price of a pack of cigarettes and inmates paid monthly premiums and margin in cigs then it would still be subject to SEC oversight and regulation. Now in the real world the SEC does have limited resources. They don't go after every small biz raising capital but once again the idiots who dumped $5M into Pirate's oh-so-obvious ponzi scheme suddenly made it "big" enough to get the SEC attention. The passthroughs on GLBSE were a large funnel to feed the ponzi machine. It is asinine to think the SEC would investigate Pirate but not GLBSE. Now that it has their attention they can't just "let it go" doing so would be a defacto acceptance of the status quo.
We are all waiting to see what kind of charges are against GLBSE, to see if BTC stock exchanges aren't allowed at all, or whether GLBSE did something that wasn't allowed.
Also, GLBSE was in the UK.
And, one of the things that scares the hell out of me right now, is this sort of added attention in my opinion will bring added regulation. As soon as Bitcoin is classified as money, even if its internet money of $ value, like Liberty Reserve, online gaming will start getting restricted.
Also, GLBSE was in the UK.
And, one of the things that scares the hell out of me right now, is this sort of added attention in my opinion will bring added regulation. As soon as Bitcoin is classified as money, even if its internet money of $ value, like Liberty Reserve, online gaming will start getting restricted.
I am so confused by this GLBSE crap,
What I am asking is it high risk using pure bitcoins for a stock exchange type thing? i am not sure how/why glbse is under attack but anyway since when is bitcoin considered good as USD?
Whats next bitcoin gambling games are gonna get taken down?
I thought bitcoins were pretty safe from this crap.
What I am asking is it high risk using pure bitcoins for a stock exchange type thing? i am not sure how/why glbse is under attack but anyway since when is bitcoin considered good as USD?
Whats next bitcoin gambling games are gonna get taken down?
I thought bitcoins were pretty safe from this crap.
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