hello team pagarex
can you explain what will happen if an american user participate this ico ?
As I learnt it depends on what the coin is. There are two types of the tokens - securities and utilities. The if your coin is a utility everything is ok for US citizens. But the coin must go through a test (do not remember the name). You can find it on the internet easily
exactly! its a howey test, that tells whether a financial instrument is an investment contract or not.
so with securities there are some restrictions compared to utility tokens