Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [GDGC] GadgetCoin | Smart Contracts on Hardware | IoT | M2M
by
zsp
on 11/09/2015, 10:51:48 UTC
@mtomcdev

I think essentially the structure does make sense and thanks for organising it, except my concern is that wouldn't be this an illegal securities offering in the United States? I am not sure just asking. I have contacted our lawyer in the US but he has no idea what the implication of attaching shares to a digital currency trade. Generally speaking perhaps it is not illegal to sell for example a house and assign some company shares as well to the buyers as a bonus to incentivize the purchase, but perhaps it is a slippery slope. I am concerned because if this project will be successful - we all hope it will be - then there will be always somebody who try to destroy it and could request an investigation from the US financial authorities. I am not saying it is illegal securities offering, just asking.



I am positive that it isn't an illegal securities offering. The shareholders sell the share not the company. The sell of the share on the open market by the shareholder doesn't constitute a breach of securities law. You are free to sell your property any time. We have discussed that many times in different threads. The law is applicable only to the company that raise capital by selling unregistered shares to unregistered investors.