Quote from: DeathAndTaxes on February 27, 2014, 06:54:14 AM

Quote from: myrond on February 27, 2014, 06:51:35 AM

Quote from: DeathAndTaxes on February 27, 2014, 06:36:19 AM

Quote from: myrond on February 27, 2014, 06:33:37 AM

Launch the equity as GOX traded colored coins (or other blockchain based overlay for stock ownership), which when/if profit is made BTC will be distributed to shareholders.

and be immediately shutdown and seized by Japanese regulators for securities violations.

I don't know the lawful method in Japan. Another way then? I do like the idea of a blockchain based ownership system.

The same reason you like it, is the same reason just about every nation on earth has banned bearer shares a couple decades ago. Most off shore locations no longer allow bearer shares. Securities laws are generally speaking insanely complex, but they (almost?) never allow unregistered securities to be sold to the public or publicly traded.

They really are illegal? According to: http://en.wikipedia.org/wiki/Tax_Equity_and_Fiscal_Responsibility_Act_of_1982 and http://en.wikipedia.org/wiki/Bearer_bond it seems that they made it so the interest can never be tax deductible for the issuer. Does that mean they are still illegal? Or just fiscally not desireable for the issuer.

I'm not trying to argue or anything with you.. I truly don't know and would like to understand it better and the history of how this happened.

edit: reading further, these are bearer bonds, not bearer shares... I need to read further

Okay reading further, they are banned in all US states except for wyoming and Nevada... fascinating
source: http://www.quickmba.com/law/corporation/nevada/

edit: is it possible to create a blockchain based registry of ownership and not have them be bearer shares?

myrond

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