Topic: Think twice before hiring a lawyer for you ICO! - page 2. (Read 201 times)

This is not unique to ICOs or lawyers. This is closer to the phenomenon known as the Pareto distribution. In everything from the mass of stars, to the heights of trees in the rain-forest, farmers producing food or creative production in any domain, artistic, food production, novels written, novels sold, money generated, number of goals scored in hockey, number of paintings painted. In any endeavor where the underlying measure is human productivity, what you find is a very tiny percentage of people produce almost all of the output. It is a square root law, if you look at the number of people producing in a given domain, the square root of the amount of people do half of the work. Meaning, if you have 100 people doing something only 10 of them will be doing half of the work. This is a natural law and cannot be avoided or blamed on any one particular domain of expertise.

Do not underestimate the complexity of this problem. If you are interested in discussing laws and jurisdiction outside of the USA you should contact lawyers that are well versed in international financial legislation. Many lawyers in America will be informed in American law and more specifically the laws of their state. I can't imagine there are many lawyers in other countries pointing at the laws of USA to govern interactions within their own countries, else they would be very bad lawyers until they move to America. My point is, this is probably more a miscommunication than an intentional or ignorant outcome. You cannot expect the best results from the average lawyer and you cannot expect them to know more than their area of expertise.

Some countries just want to use SEC or American legislation as guidelines where their country has a grey area to make sure they are not doing something out of step.

I see that, even Canadian ico projects are geting dictated by lawyers to follow SEC compliant. Totally useless.
We know that the majority of Canadian countries can be considered as crypto friendly countries. Canadian has its own regulation. This was happening to some project just like iconomi and others. How lawyers were telling a non-sense thing about that.

Good article! It's helpful, to the point and a quick read.
Easy 2 minute read

Most ICO lawyers are totally useless and will only dictate you USA laws, even when you have no affiliation with USA.

Read this article to discover how ICO lawyers scam us.

https://medium.com/@filip.poutintsev/think-twice-before-hiring-a-lawyer-for-your-ico-58b69a9de4ed