Post
Topic
Board Announcements (Altcoins)
Re: [ANN] ICONOMI - Fund Management Platform
by
aDAPPter
on 01/11/2016, 01:09:30 UTC
Iconomi isn't a US Company, and falls under series 7 of the U.S. tax code.
http://www.investopedia.com/exam-guide/series-7/investment-risk-tax-considerations/foreign-securities-taxation.asp
Foreighn Securities stats:
https://www.federalreserve.gov/econresdata/releases/secholdtrans/current.htm
definition of foreign securities:
http://dictionary.reverso.net/english-definition/foreign%20securities

Iconomi aren't applying for a NYSE listing (yet)like Gemini and don't operate within US borders like Vorhees.
New Hampshire's new Money transmitter licence costs between 500 and 5000usd per year, which isn't a ban, but puts the bar for them high because what little volume from NH wouldn't cover the cost for the fee.
Coinbase and Circle both still offer service to NH. It actually makes Polo look like cheap bastards.

ICONOMI is a foreign entity so it qualifies for Exemption from US Securities Registration, eventhough it raises capital in the United States:

https://www.sec.gov/divisions/corpfin/internatl/foreign-private-issuers-overview.shtml#IV


IV. Exemptions from Securities Act Registration — Initial Distributions and Resales

"Foreign private issuers may raise capital in the United States through a registered offering of securities or through offerings that are exempt from the registration requirements."