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Earlier quoted context omitted.
"(assuming I wasn't marketing to Americans; of course, this may imply qualified investors anyway)" I can afford to fly to Scotland, and I am nowhere near a qualified investor...
And you may be a "qualified investor" and dumb as rocks. In which case, I have a flashy sales presentation for you!
Earlier quoted context omitted.
I'm not convinced a presale of a currency falls under the same regulations as equity in a company.
>I'm not convinced a presale of a currency falls under the same regulations as equity in a company. BTC isn't a currency in US. I'm kind of curious where SEC draws the line, if any, when somebody sells some interest in some virtual artifact - say a website or a Farmville plot of land - in exchange for some other virtual artifact - say BTC or ISK.
The SEC doesn't get involved in Farmville plots of land, any more than it gets involved in physical real estate. It's not involved if I sell you a gold coin or rare stamp, even if you hope to resell at a profit.
Cryptocurrencies seem more analogous to these things, rather than equities, debts, profit-sharing agreements, or anything else in the SEC's official definition of a security:
There is a lot of fraud going on in the cryptocoin "IPO" space. It's strange that the SEC went after one of the cases that wasn't fraud. Maybe it was because they knew who he was. Either way they really need to crack down on these unregistered securities. People are being fleeced left and right.
I suspect more people are losing money on state lotteries than cryptocoin IPOs. Shouldn't enforcers go after those, first?