Pretty sure that because they are accepting money in return for tokens, this makes the tokens a security. U.S. Law says essentially that you have to have a license and being registered with the SEC.
I personally believe that it is dan and the team playing it safe and that people (especially little guys) will probably have no legal issues for buying in...but that they didn't want to spend all the money and resources they otherwise would spend to build on mountains of legal hurdles.
Now with that said though, cryptocurrency laws are still pretty vague (largely because people have no clue wth it is). I think though that we are going to all need lawyers someday when crypto at all takes off. No government is going to like being displaced. So...i think be careful if you like cryptocurrency...and as an extension, be careful investing in eos. But know that if you do its probably going to easily pay lawyer fees after the fact :D
Pretty sure that because they are accepting money in return for tokens, this makes the tokens a security. U.S. Law says essentially that you have to have a license and being registered with the SEC.
I personally believe that it is dan and the team playing it safe and that people (especially little guys) will probably have no legal issues for buying in...but that they didn't want to spend all the money and resources they otherwise would spend to build on mountains of legal hurdles.
Now with that said though, cryptocurrency laws are still pretty vague (largely because people have no clue wth it is). I think though that we are going to all need lawyers someday when crypto at all takes off. No government is going to like being displaced. So...i think be careful if you like cryptocurrency...and as an extension, be careful investing in eos. But know that if you do its probably going to easily pay lawyer fees after the fact :D
Ok fuzzy. I think I still need to think. I'll probably catch a few tokens at some point. Thank you for the excellent reaponse!