Just curious, and not looking to get into a long-running discussion over this, but if Waves is domiciled in Europe somewhere isn't it really the responsibility of US investors to obey US laws, not some foreign organization?
IANAL, but apparently US law goes after the issuers if they market them to non-accredited US investors. There may be details and exceptions. There is an
entire thread on this topic.
Secondly, they are selling tokens, not shares in a corporation. How is what they're doing different then selling any other token (postage stamps, old coins) or commodity that goes up and down in value?
That linked thread explains the Supreme Court Howey test. Key criteria is the n00b (non-accredited) investors are relying on the future actions of issuer for the expectations of profits.
traumschiff added to my Ignore list for replying to a discussion/debate of the facts with an ad hominem attack. Attacking a person, is not a rebuttal of the facts under debate. It is non-informational noise.
AltcoinScamfinder added to my Ignore list for replying with an ad hominem attack to my post pointing out the high correlation between those who have ICO coins in their signature (or are known ICO promoters) to attack me with ad hominem posts devoid of any discussion of merit, when I mention US securities law. Appears from his signature line that he promoting crypto gambling; perhaps there is some connection to ICO coins in his vested interests.