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.
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."
Someone please call 1-800-POLONIEX and inform them about this right now!
This was to inform the FUDders who keeps spreading "illegal in USA". Which was ofc total bullshit...
USA has trillions annually flowing into "unregistered foreign securities"
Cryptocurrencies are not required to register anything in USA, the exchanges are the regulated bottleneck, which is why Gemini is still waiting for the CFTC after 2 years while Americans still buy derivatives Globally as seen in the above links. There is no law in the USA prohibiting the sale of securities not registered within our borders or any border for that matter... The SEC would be busting nearly every managed asset in the USA if that were true lol.