ICOs 100% illegal in USA now

[Anonymous No.4973712]

Seems like Uncle Sam decided that it doesn't matter if your tokens are dividend yielding or not anymore (for example, modum is a dividend token). That is, it doesn't matter if they are similar to shares in a company any more. ICOs are illegal.

SEC just cucked the USA out of the biggest innovation wave so far in this century.

Lmao, fuckin burger country.

>"Even if MUN tokens had a practical use at the time of the offering, it would not preclude the token from being a security. Determining whether a transaction involves a security does not turn on labelling[sic] – such as characterizing an ICO as involving a 'utility token' – but instead requires an assessment of 'the economic realities underlying a transaction,'" the SEC wrote in the order.

https://www.coindesk.com/sec-halts-multimillion-dollar-munchee-ico-securities-violations/

[Anonymous No.4973782]

>>4973712
>NOOOOO WHY CAN'T I MAKE MILLIONS OF SHITCOINS WITHOUT BEING BEHOLDEN TO A COUNTRY'S LAWS

[Anonymous No.4973783]

>"'the economic realities underlying a transaction,'"
Basically this means that so long as they consider it an investment, they will regard it as a transaction that involves a security, even if what is purchased in the ICO does not have any properties that would make it actually meet the definition of a security.

[Anonymous No.4973834]

WHY CAN'T I SCAM STUPID COLLEGE KIDS WITH A PREMINED ICO
REEEEEEEEEE

[Anonymous No.4973844]

>>4973782
The laws are dumb and shit anon. They have been there primarily in order to make it harder for companies to decentralize their funding rounds (so the rich can get better deals when they give them money) and to keep people who aren't rich from micro-investing in crowd-funding manners.

[Anonymous No.4973889]

You're right, read their cease-and-desist letter

>Among other characteristics of an “investment contract,” a purchaser of MUN tokens
would have had a reasonable expectation of obtaining a future profit based upon Munchee’s
efforts, including Munchee revising its app and creating the MUN “ecosystem” using the proceeds from the sale of MUN tokens

https://www.sec.gov/litigation/admin/2017/33-10445.pdf

[Anonymous No.4973890]

Anyone who thinks its to protect normies are retarded as fuck. Normies regularly fuck themselves over in pyramid schemes and right and the authorities never step in before after it's already over and the wojak masses are pink.

[Anonymous No.4973915]

>>4973712
wtf I didn't vote for Trump for this shit!

[Anonymous No.4973927]

>>4973712
I dont understand.

IPOs are fine despite JPM shafting investors by knowingly overvaluing the stock.

I see ICO's as a sort of "better kickstarter" where you actually get a percentage of what is being built at the end.

Imagine if you could give tesla the money it needed to build batteries, now in exchange for 50% off a car in 2-5 years years time.


The problem is people are just using it as funny money to pump and dump, instead of replacing Kickstarter with their buillshit fees and overheads with ICOs.

[Anonymous No.4973946]

Holy shit, the SEC is writing this

"While Munchee told potential purchasers that they would be able to use MUN
tokens to buy goods or services in the future after Munchee created an “ecosystem,” no one was able to buy any good or service with MUN throughout the relevant period."

Basically, because the token can't be used right away it's considered a security. This basically kills all ICOs.

[Anonymous No.4973951]

>>4973915
>Trump
>caring about you

[Anonymous No.4973971]

>muh small government
>muh free market

[Anonymous No.4973978]

>>4973712
>MUH FREEDOM
AAAAAAAAAAAAAAAHAHAHAHHAHAHHAHAHAHAHAHHAHAHAHHAHAHAHAHAHAHHA BURGERLAND CRYPTAS BTFO XDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD

[Anonymous No.4974074]

>>4973971
republicucks and lolbertarians are such pathetic losers

[Anonymous No.4974097]

TRUMP DO SOMETHING

I'M SICK OF ALL THIS TAX FUD. DECLARE CRYPTOS TAX FREEEEEEEEE

[Anonymous No.4974108]

>>4973844
i fucking hate the certified investor rules for america. you need 1million in cash plus earn 250k a year. Thats really only for the rich to get even richer.
Worse too IPOs are highly over priced