You laugh but it is no laughing matter. Securities fraud is a big problem, which is why the SEC takes it so seriously.
Isn't it also illegal to buy unlicensed securities? Couldn't the SEC also prosecute individuals who simply bought into these as unaccredited investors? (I am not a lawyer)
IANAL, but I interpret it to mean that both buyers and sellers are responsible for understanding what they're transacting, which are likely securities. Unlicensed securities that are not exempt from the law are illegal…
I highly doubt most ICOs qualify for exemptions, let alone notified the SEC of their intentions to make a public offering.
Uh, isn't it also illegal to buy unlicensed securities? Couldn't the SEC also prosecute individuals who bought into obvious scams as unaccredited investors? IANAL, but securities fraud is securities fraud. Why even take…
You laugh but it is no laughing matter. Securities fraud is a big problem, which is why the SEC takes it so seriously.
Isn't it also illegal to buy unlicensed securities? Couldn't the SEC also prosecute individuals who simply bought into these as unaccredited investors? (I am not a lawyer)
IANAL, but I interpret it to mean that both buyers and sellers are responsible for understanding what they're transacting, which are likely securities. Unlicensed securities that are not exempt from the law are illegal…
I highly doubt most ICOs qualify for exemptions, let alone notified the SEC of their intentions to make a public offering.
Uh, isn't it also illegal to buy unlicensed securities? Couldn't the SEC also prosecute individuals who bought into obvious scams as unaccredited investors? IANAL, but securities fraud is securities fraud. Why even take…