Post
Topic
Board Legal
Re: USA Subsection
by
TheGovernedSelf
on 28/05/2013, 05:14:09 UTC
You can't do that.  The law was signed by Obabma it's true, but there are no rules yet that allow ANYBODY to actually crowdsource funding.  The SEC has dragged their feet on the matter and the states have said nothing. Like most securities laws there are two completely different sets of rules (fed and state) and there is no state who allows crowdsourced funding... even the fed does not allow it *yet*.

So if the government doesn't explicitly condone the behavior through legislation, then it is assumed to be illegal? Does this sound like the ideology of a free country?

Quote
because it is meets the definition of a commodity

It is data and code. Nothing more.





There are already rules in place to prevent the selling of fake securities. It is called "fraud".