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RE: ICOs are not for US Citizens? Should ICOs reject self proclaimed US Citizens as a way to reduce legal and regulatory risk?

in #icos6 years ago

As a US citizen I am currently working towards dual citizenship. In this day and age we have options to limit the control governments and bureaucracies have over us. The rush by governments and banks to move their control from existing system to the new paradigm that may replace them, is exactly what blockchain and cryptocurrency technology was designed to free us from. When I first got into crypto it seemed very much like the wild west. On the frontier things are bloody until they become settled and that is clearly where we are at with this. Whales and institutional investors trying to scare away those new to the market and take their money along the way. Get rich quick schemes by criminals and those looking to take advantage of the ICO scene with poor or not fully formed ideas. It is interesting to watch how things will eventually settle. Definitely an exciting shows!

Regarding the ICO opportunities for US investors. Some blocks can be bypassed as they only require you to acknowledge your country of origin but have no checks in place to verify. The serious ones require you to upload your passport and other documents. I am not sure how they verify legitimacy but it's another layer of protection. I understand it's easier for these companies to not do the work required to allow those countries with more strict regulations but it certainly is contrary to what the whole crypto movement is about. Will see how this eventually shakes out but I do believe the conversations being generated by this is a good thing.

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