Quote from: JakeCrypto on September 20, 2017, 06:40:49 PM

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Yes, there hasn't been enough time for the larger volume exchanges to vet the project well enough to include it on their platforms. Right now the larger exchanges are leery as to how to define the differences between an "asset?" and a "security?" so they are being more diligent. Blackmoon Crypto believes that they have the legal standing to pass the Howey test with BMC. And, I think BMC does and will pass that test. There are some bargains on the smaller exchanges for BMC at the moment, but once the higher volume exchanges list the token, I don't believe those bargains will be available. Blackmoon Crypto is in a good position to do very well, providing they don't get caught "cooking the books" or something, and I am confident that they ARE going to do well.

Interesting, I haven't been around crypto/investments long enough to come across the Howey test before. After reading up on it I understand that it's a test to determine whether the token is classed as a security and therefore protected by SEC regulations, is that correct? If so I'm guessing that if it passes then the big exchanges are more likely to accept it as Blackmoon Crypto can be held accountable if they don't follow through with their promises?

Sorta. If the token passes the Howey test, then the US based exchanges can list it. If it doesn't pass the Howey test, then the EXCHANGE could face regulatory consequences if they decide to list it. However, it would be in Blackmoon's best interest to abide by the US regulations because it's a very large market. Blackmoon Crypto divides their project into two separate tokens, BMC, which isn't a security according to Howey, and Fund token, which is considered a security under Howey. US citizens are not allowed to participate in the Fund token platform, as "Continuous Contributors," at this time but they are allowed to purchase BMC.

From Blackmoon Crypto's FAQ:

/*
Regulation

Are BMC tokens securities?

Based on legal advice and opinions we gathered during the preparation process, BMC tokens would not be deemed as securities by SEC based on the famous Howey test. We pay a lot of attention to that matter and are in continuous communications with US attorneys while formalizing our position.

Are Fund tokens securities?

Funds' tokens are going to be securities. And we are going to comply with all necessary regulation regarding that fact.

Will you distribute Fund tokens in the USA?

During 2018, funds on the platform should be able to distribute tokens to US citizens via brokerage firms and exclusively to authorized investors. We intend to apply for our own broker-dealer license in the US and to receive it in 2019."
*/

Citation: https://blackmooncrypto.com/ FAQ, accessed 09/20/2017