Does the recent SEC ruling stop your ICO?

What does the recent SEC opinion mean? Well, each case is different so make sure you ask your attorney, but I will tell you how I interpret it.

I am in the process of an ICO and have met with our attorneys on this. My/Our interpretation is, if you do an ICO where you are offering ownership of the company, then that falls under the jurisdiction of the SEC. It doesn't matter if you are selling your ownership positions for Fiat currency or for Crypto currency, it is still an offering and therefore is subject to all the rules and regulations of security offerings.

If, on the other hand, you are just selling tokens and those tokens can be used to access your product, then the SEC "ruling" doesn't apply to you. In this scenario think of the token sale as selling Gift Certificates instead. The SEC does not regulate the sale of Gift Certificates any more than the regulate the sale of any other product. So if your ICO is selling tokens that have nothing to do with ownership in the company but rather have some other value, or no value at all, then the SEC doesn't apply.

In their recent announcement, the SEC was just clarifying that it doesn't matter if you are accepting Fiat or Crypto, if the participant is getting securities in exchange, then it falls under normal SEC rules and regulations

Comments

Dride Zero - Dashcam on Steroids

I took part in a Kickstarter project to build "The ultimate Dashcam". One with front and back cameras that would shoot in HD, was durable and low power, and would upload video clips to the cloud with the push of a button. We'll after waiting more than a year, they did just that. I received my Dride Zero a couple of days ago and, other than an initial rocky "Setup" process, it has been working fantastic. This post isn't so much to talk about the Dride, you can get that information from them at https://dride.io. This is more for those people who might run into the same issues with Setup that I had. Hopefully this will save them some of the time I wasted trying to figure it out. Dride Zero Getting Started 1) Unpack from the shipping box. To get started all you need at first is the Dride Camera, the powercord that has the cigarette lighter connector, and a 16Gb type 10 Micro SD card. 2) Insert the 16Gb Micro SD card in the slot...

Troubleshooting a Discourse Update on DigitalOcean: Resolving Unresolvable Errors

For the past three years, I've maintained a Discourse server on a DigitalOcean Droplet. Recently, I decided to update it with some of the latest Discourse features. What I anticipated to be a straightforward update process turned into several days of frustrating setbacks. The version of Discourse I was running was already three years old, so I assumed that running the built-in "Update" feature would suffice. However, after clicking the update button, the progress bar sluggishly crawled forward over the next half hour, only to display the dreaded message: "Error – Update Failed." The logs provided little to no help, but based on my experience with other software updates via GIT, I suspected that the failure might be due to the repository head still being called "Master." In recent years, there has been a shift away from using "Master" as the repository head, with "Main" becoming the preferred term. Despite trying several methods ...

Ethereum Merge - So What?

Artwork by Steven Grundy The long awaited Ethereum "Merge" is finally upon us. I've heard people say "So what". So what? I think they don't understand the implications of the merge. Either that or they really are betting against Ethereum. I think this upgrade is probably the biggest thing for Ethereum since smart contracts first came out. This change has the possibility of upsetting the apple cart in terms of Ethereum and BTC. That's a big claim, but I really think it's possible. The Ethereum Merge has been set for the week of September 19th, 2022. The merge is when the Ethereum execution layer will be joined with the new proof of stake consensus layer. What does that mean and why should I care? What it means is that Ethereum will be changing from an energy intensive Crypto coin like all others to a 99% more efficient crypto coin like only a few have done. Right now Ethereum is mined just like BTC and a host of other Crypto cur...

Search This Blog