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RE: The SEC Says Initial Coin Offering (ICO's) Must Register

in #ico7 years ago

That's a sensible attitude, I like the way you think. I also try to remain as anonymous as possible and never discuss crypto at work or with friends where snooping ears may hear.

Unfortunately the weak point is the entry / exit to the fiat world. It's not really possible to live on crypto yet. To pay the bills you have to exchange to a national currency at some point. And then you run into KYC processes. I don't mind KYC so much, but what really bugs me is when KYC is used to specifically exclude US citizens.

ICONOMI is a case in point. I invested in ICNX when it was still in beta. But now that it's officially open to the public, you have to show your passport and do a video interview for ID verification. And of course they won't allow citizens of Iran, North Korea, or the United States to participate. Luckily my wife is not an American, so I can have her do the verification and just say the account is in her name if anybody asks.