[TaylorGood]

Same. A quick chat with an attorney who is an SEC specialist basically said "if it breathes" i.e. involves money that ICO is seen as a security. The SEC putting together the digital division which covers cryptocurrency tokens is part of what led to him saying this. Basically fish in a barrel.

It is in my opinion that any US-based ICO is now in a lottery as to whether they get the SEC visit.

Not legal advice at all, just sharing an excerpt from a coffee chat.

[passwordreset]

Can you ask him how a virtual currency can also be a security? Tulips could be a security, OK; but, didn't the Securities Exchange Act of 1934 exempt currencies from being considered a security?

[TaylorGood]

Found this interesting, and relatable:

https://www.sec.gov/news/press-release/2014-111

[xdeqx366]

What was your decision? Did you stay or leave?

[TaylorGood]

Pass.

Not sure why this isn't discuss more, but Erik Vorhees was fined for not registering as a security back in 2014: https://www.sec.gov/news/press-release/2014-111

Although it was just fines, not worth the exposure just for merely operating an above-board business. With SEC now having Cyber Unit, in theory their regulating now increases.