Friday, January 26, 2018 9:33:54 PM
IMO The SEC is going enforce virtual currency rules with the below guidelines, unless of course they are exempt. I’ve seen this with other ICO’s.
“SEC guidelines as a security token under Regulation 506 (c)
Under Rule 506(c), issuers can offer securities through means of general solicitation, provided that:
• all purchasers in the offering are accredited investors,
• the issuer takes reasonable steps to verify their accredited investor status, and
• certain other conditions in Regulation D are satisfied.
An “accredited investor” includes a natural person who:
• earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, or
• has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence).”
Definitely will limit the sale.
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