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How does a US person get onto the AE without getting into trouble?  
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Author Topic: How does a US person get onto the AE without getting into trouble?  (Read 1229 times)

box1413

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I thought about going IPO on the AE but it seems that its not worth the headache that might ensure as the SEC comes down on people that reside in the US. What are some alternatives to go around the red tape to make it possible? Lets just say I wanted to raise funding for a NXT conference or some type of big event and launch it on the AE. How can that be done without all the crazy paperwork if it was done through regular means?
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lucky331

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Re: How does a US person get onto the AE without getting into trouble?
« Reply #1 on: July 29, 2014, 03:06:01 am »

this will be a sensitive issue.  as laws have not kept up with the technology, everything is in the grey area.  but that doesn't mean uncle sam won't come after you.  but not now...  the money generated via NxtAE is not worth it for them to come after...  not yet.
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sparta_cuss

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Re: How does a US person get onto the AE without getting into trouble?
« Reply #2 on: July 29, 2014, 03:52:22 am »

The folks over at Counterparty are focusing on this set of questions. One of their responses at the moment is to turn off certain functions/features for anyone accessing the Counterparty web wallet from a U.S. ip address. Not rock solid, but might keep them out of some early trouble.

The group behind the Swarm "ipo" did a whole lot more research on the U.S. regulatory landscape, and they continue to spend a lot of resources on compliance or avoidance. Check out this very interesting post by Joel Dietz of the Swarm team about how they are avoiding trouble with their projects. I think much depends upon the language that you use in your announcement, and what you promise your investors.
https://www.counterparty.co/cryptoequity-legal-considerations/

P.S. I wish there was a greater connection between the Counterparty community and the Nxt community. Unfortunately, some of the CP developers wrote some things about Nxt architecture and philosophy that were uninformed and a bit reckless, and that really bothered some of the Nxt developers, who have put a lot of thought and effort into getting Nxt right.
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anon136

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m30188

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Re: How does a US person get onto the AE without getting into trouble?
« Reply #4 on: July 29, 2014, 05:13:46 am »

This is f***ed up. The banks won't allow U.S. politicians to write legislation in favor of digital currency, so I guess we're going to get left behind.
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Sebastien256

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Re: How does a US person get onto the AE without getting into trouble?
« Reply #5 on: July 29, 2014, 05:23:14 am »

This is f***ed up. The banks won't allow U.S. politicians to write legislation in favor of digital currency, so I guess we're going to get left behind.

I think the world (and US) will adapt to digital currency. In fact, digital currency cannot be stopped now that the technologie is available. I just think of bittorrent 13 years ago, p2p can't really be stop. Music industries has adapted themselve to the p2p new technologies, so i think the financial world will adapt too. It will take time, but it will happen, IMO.
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lucky331

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lucky331

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Re: How does a US person get onto the AE without getting into trouble?
« Reply #7 on: July 29, 2014, 05:24:48 am »

This is f***ed up. The banks won't allow U.S. politicians to write legislation in favor of digital currency, so I guess we're going to get left behind.

I think the world (and US) will adapt to digital currency. In fact, digital currency cannot be stopped now that the technologie is available. I just think of bittorrent 13 years ago, p2p can't really be stop. Music industries has adapted themselve to the p2p new technologies, so i think the financial world will adapt too.

yup. the cat is out of the bag.

it will only get better and better going forward..
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box1413

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Re: How does a US person get onto the AE without getting into trouble?
« Reply #8 on: July 29, 2014, 06:37:24 am »

lets just say if my computer repair shop wanted to raise funding via AE as repair-tokens. now these repair-tokens can be redeemed at my repair shop for real repairs as a 1 to $1 value. can I do that in the US? technically that's not a security right?

And how would one redeem these tokens for say repairs anyways.

just an idea im tossing around.
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lucky331

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Re: How does a US person get onto the AE without getting into trouble?
« Reply #9 on: July 29, 2014, 07:33:57 am »

lets just say if my computer repair shop wanted to raise funding via AE as repair-tokens. now these repair-tokens can be redeemed at my repair shop for real repairs as a 1 to $1 value. can I do that in the US? technically that's not a security right?

And how would one redeem these tokens for say repairs anyways.

just an idea im tossing around.

you are proposing something like LETS?  i think it is one possible use case for Nxt. 
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box1413

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Re: How does a US person get onto the AE without getting into trouble?
« Reply #10 on: July 29, 2014, 07:41:30 am »

what's lets?
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lucky331

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Re: How does a US person get onto the AE without getting into trouble?
« Reply #11 on: July 29, 2014, 07:43:21 am »

http://en.m.wikipedia.org/wiki/Local_exchange_trading_system

edit:  forgive me.  too lazy to explain. i am on my ipad, in a crowded cafe, and going thru nicotine withdrawals...  :(
« Last Edit: July 29, 2014, 07:46:00 am by lucky331 »
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