Post
Topic
Board Legal
Re: USA Subsection Needed? (POLL)
by
Clobered09
on 11/03/2014, 16:17:12 UTC
As a small business-person you are NOT ALLOWED to ask anyone in public for funding.  It's against the law.  I cannot say to anyone in this or any other forum something like: "hey I want to borrow bitcoins from you and I'll pay you back with interest".  To do that is ILLEGAL.
      

This is inaccurate.  Privately negotiated lending does not have to be registered per se in the US, even if the initial solicitation is public, so long as it doesn't otherwise qualify as a security under the '33 and '34 acts.  The catch-all in the '33 acts definition of "security," the investment contract, is not broad enough to cover private non-standardized lending (as broad as it is).