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RE: POB Update: Should I Inject Liquidity Into The POB Market To Raise Funds For Front End Development?

in Proof of Brain4 years ago

@proofofbrainio just wanted to respond to this to let you know if you live in the USA they have a big deal about doing this kind of thing so be careful. Selling your tokens to other and saying it is for dev funding and stuff could make PoB a security. And you don't want that to happen.

Any token/crypto project that sells their own token to people for promise of development and other things can turn them into a security. Very dangerous stuff.

Not a lawyer, but probably the best thing to do is to read into the secuirty laws on cryptocurrencies and tokens if you haven't already. It's quite the trap to fall into. Will the IRS monitor hive chain, probably not right now, but in 4 or 5 years when projects are bringing in milions to tens of millions maybe. Just stay safe with the legal stuff, i've been looking into all this stuff lately for a related reason.

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Very good to know! Would that be true if it's just selling POB for HIVE? I wouldn't do it just of that reason if so. Paying a dev with POB wouldn't be any problem though right?


Posted via proofofbrain.io

I think as long as you sell PoB through the hive-engine market you are ok, but if you were dong a crowdsale fundraiser and selling directly to people it turns it into a security.

Here's a good link https://cryptolawinsider.com/security-token/

Yeah, I'm aware that doing an ICO can get the SEC to classify you as a security. That was never even considered. The post was about just selling POB on hive-engine.


Posted via proofofbrain.io

I think that's ok from what I've read.

Do you have discord or some other chat you use? I own the @informationwar curation trail and have been manually curating for over 3 years on it, and also curate with @deepdives and the people who follow that.

There was a few things I was interested in chatting with you about privately regarding curation stuff if you wouldn't mind. Some synergy things I see that could benefit both of our communities.

My discord is TruthForce#9168