Puppet... till now no one feared the chinese government because of selling shares. btcgarden only closed because of the risks involved with chinese crowdfunding, as far as i know. And friedcat always checked out such potential legal risks to Asicminer. I mean it would be pretty stupid to risk all his income. So if you now start to generally question the legality then why not start at bitcoins? Its still a gray area and governments would have any right to forbid bitcoins. That happened with many regional currencies before often too.

So far i trust friedcat more than your legal advice in a anyway legal gray area.