U.S. CrowdFunding Bill - page 4. | Bitcointalksearch.org

Stephen Gornick

legendary

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Quote from: Cryptoman on March 24, 2012, 12:55:01 PM

So why not get an anonymous email account from somewhere like Hushmail?

I'm presuming this is why:

Quote

Could you give me the name of your asset (the ticker symbol) and provide the information below that would allow me to verify your identity.

I will need:
picture of your national ID
picture of your passport
picture of your driving licence

All the above pictures must be clear and must show a piece of paper with written on it.

I will also need you're home phone number, your mobile number, your home address.

Some information about your professional life (where you currently work etc.)

You must also use your personal Facebook and linked-in profiles to friend these profiles below, so that I may inspect them.
http://uk.linkedin.com/in/glbse
http://www.facebook.com/GLBSEbot

- http://pastebin.com/HM3PSK74

hazek

legendary

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Stuff like these regulations by the state make my head want to explode. I cannot express in words how pissed I got when I read the OP.

Cryptoman

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Quote from: mila on March 24, 2012, 10:47:12 AM

with 2.0 e-mail is linked to an account and there goes the plausible deny ability.

So why not get an anonymous email account from somewhere like Hushmail?

mila

sr. member

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until nefario started collecting e-mail addresses as part of the registration, it was pretty untraceable who owns shares at glbse. the only link in 1.0 was a keypair and incoming bitcoins.
with 2.0 e-mail is linked to an account and there goes the plausible deny ability.

as non U.S. resident i look forward to the rising supply of shares caused by this regulation.

thanks for the link.

Stephen Gornick

legendary

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Now, what I'm curious about is if this changes anything for Bitcoiners.

CAPS exists because "crowdfunding platforms owe fundraisers and investors a high degree of transparency and the ability to facilitate secure transactions to reduce the risk of fraud".

I wonder if a service provider would be able to take much of the CAPS framework and apply it to a model that works for issuers who wish to use GLBSE (or direct, or other model) to raise funds. It wouldn't be a CAPS accredited provider but it might parallel CAPS in most areas.

I'm sure there will be other instances where this new crowdfunding method in the U.S. will intertwine with bitcoin-related investment and trading.

Stephen Gornick

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A "funding portal" that will act as intermediary between crowdfunding investors and crowdfunding issuers is a type of broker. Crowdfunding is now an industry and there is this group within the industry that has formed to become the industry's governance group. They've created a panel that came up with a framework that specifies what and how the funding portals will do the work that they do. This framework is called the Crowdfunding Accreditation for Platform Standards (CAPS).

The Crowdfunding Act is not signed into law even yet, so the SEC hasn't deemed what rules the funding portals must follow. CAPS was apparently created though to meet or exceed what those rules from the SEC will likely be requiring. The creators of CAPS are a governing group called the CAPS Council, and includes key people that helped to guide and lobby for the Crowdfunding Act legislation.

They've already had eight crowdfunding (funding portal) platforms successfully go through the process to become educated on and accredited in CAPS and are now having another twenty of these funding portals become accredited.

- http://www.crowdsourcing.org/editorial/crowdfunding-industry-establishes-standards-to-help-prevent-fraud/12670
- http://www.crowdsourcing.org/caps

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Topic: U.S. CrowdFunding Bill - page 4. (Read 7280 times)