I see a number of Us based backers (coinbase ventures for example). Why is it OK for them to invest, but not me?
Also, It looks like the initial sale is capped at a max investment of $1k. Is that right??
Posted Mar 27, 2021, 5:04 PM UTC
Here's from SEC:
" ICOs, based on specific facts, may be securities offerings, and fall under the SEC’s jurisdiction of enforcing federal securities laws. "
This means that company offering ICO will have to go through sh*tload of scrutiny to be able to provide ICO as companies do during IPOs. And if any US citizen participates in it, SEC can sue them for %#(*)-lion dollars if they find anything that does not meet their requirements.
For that reason it is easier to offer ICO somewhere else and then list it on exchanges.
Due to the securities commission. Expect a purchase on the exchange.
But doesn’t Naval live in San Francisco??
I’m sorry buddy, I don’t know. I am from Russia 😊
Lol - well he does. The majority of all the big investors so far are from the USA from what I can tell. i think they've figure out how to keep the rest of us out so as not to dilute their shares.
Because of the restrictions in these countries, and as the guy said in the comments due to the securities commission.
But why?
This article mentions some of the big investors so far: https://www.coindesk.com/mina-mainnet-launch-token-sale
From that article; Coinbase, Naval Ravikant, & Polychain Capital are all based in San Francisco. Paradigm Capital is based in Canada. Why would the SEC allow USA/Canada based hedge funds to participate, but not individuals? Are we sure this is actually an SEC rule & not something Coinlist has come up to keep the other big investors out that would only dilute the hedge funds shares?
Let's wait for team announcement which they promised to publish soon
This is not in the hands of the Mina team. this is the rules.
The US government protects most of its people from the high risk involved and also protect you from getting rich.
Because of the SEC
But why?
This article mentions some of the big investors so far: https://www.coindesk.com/mina-mainnet-launch-token-sale
From that article; Coinbase, Naval Ravikant, & Polychain Capital are all based in San Francisco. Paradigm Capital is based in Canada. Why would the SEC allow USA/Canada based hedge funds to participate, but not individuals? Are we sure this is actually an SEC rule & not something Coinlist has come up to keep the other big investors out that would only dilute the hedge funds shares?
That's because they are accredited investors and took part during seed/earlier sales.
I'm accredited. &Coinlist offered the filecoin ICO to accredited individuals too. Are they now saying their filecoin ICO was fraudulent?? I still see no reason why Mina would be any different
This will be the community sale and so far I know CoinList never allowed US, Canada, China and other excluded jurisdictions in the public/community sales recently. Mina raised Seed & Series A long back in 2018 and 2019, there were US/CA investors in those rounds.