Quote from: sockpuppet1911 on May 31, 2018, 08:37:58 PM

Quote from: Saschaman on May 31, 2018, 02:16:02 PM

Authorities in Europe have ruled that crypto mining is a financial service or better said AIF, an alternative investment fund. Basically to my understanding this is probably the end of envion as it renders their business model simply illegal, I guess they will have to pay back the money to investors, but not for sure, it might also just be distributed among the shareholders, I did not read the WP in this regard, maybe someone should do it to soon.

Interesting, but i am not sure how that renders the whole business model illegal, please explain if you have an insight on this.

Simply put, cryptomining is now a business that needs a AIF license allover Europe. To get an AIF license you need to fullfill many things, basically not doable for Envion. Also minimum investment is 50K EUR. You also need a licensed manager and must be iversight by a financial authority. In short there is no way Envion could possibly comply and there is also no way they can possible change the business model after the token sale. So I guess they will have to shut down. Main question is if the money then falls to the shareholders or tokenholders.
In my humble opinion the probem with the founderrs and MW are a joke compared to the AIF issue

Saschaman

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