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by everdev 2924 days ago
Well, I called the SEC and they said they can't think of a way how these ICOs are not violating the Howey Test. Basically that in time, they be prosecuted.

So, those of us that decide that the potential for financial or criminal consequences is not with it miss out when it turns out all but the most egregious scams will get a pass.

2 comments

Through my work we’ve been in contact with the SEC as well, a few times, and they are pretty clear on not stating any real absolutes unfortunately. We do more of the service side of things for the institutional space, however - so perhaps our questions were a bit different.
Sure, I understand where the risk is coming from. I don't understand where the unfairness is coming from.
I guess because it's unfair to people who view breaking the law as an unacceptable risk when those who bend or break the law are profiting.
Because what you classify as "taking a risk" most of us classify as "potentially breaking the law."