Re: The altcoin topic everyone wants to sweep under the rug
Well the offer me to buy some software during Crowdsale, I liked the idea DAG and bought some.
What have I done wrong
What have I done wrong
Did you verify that Iota adhered to all laws and regulations for selling investment securities in every jurisdiction where they offered the "tokens" for sale to investors?
Specifically did they register these tokens with the SEC in the USA? If not, did they restrict non-qualified USA investors from obtaining the coins?
I hope you aware it is against the policy of crowdfunding sites such as Kickstarter and Indiegogo to offer any shares or redeemable tokens to contributors.
Why would we ever register with SEC to sell software? I know you want to pretend you're a lawyer, but c'mon, this is pretty basic. When I talked with our lawyers about this there was absolutely no constraints on selling software to the US.
Afaik, you sold a token which can be resold by investors. The Supreme Court has said about the Howey test, that it would look past all attempts to obfuscate a security.
Software is not an investment, rather it is purchased for a use case. The Howey test looks at what the expectations were of those purchasing.
Your lawyers are ignorant apparently.