Here is a good, simple readhttps://www.bna.com/ico-participant-liability-n73014473267/ …
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A little more reading https://www.securitieslawyer101.com/2014/promoter/ Trying to find examples simpler than my professional books and texts
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It is a shame that ETH and EOS can be seen as a promoter. They will see what happens soon enough Law is law. Code is law promotion is for idiots.
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Replying to @ProfFaustus
um, in other news...https://markets.businessinsider.com/currencies/news/ethereum-not-a-security-what-it-means-for-ico-coin-offerings-cryptocurrencies-blockchain-bitcoin-2018-6-1027123435 …
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Replying to @c4chaos
No, the reporter is dumb. The SEC do not see ETH or Bitcoin as securities under their framework and which require registration. Bitcoin and ETH are BOTH securities, they are SEC excluded securities. Any use of ETH such as an ICO - that is a security that requires registration.
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Replying to @ProfFaustus @c4chaos
Next, "Based on my understanding of the present state of ether" What a shame that so many of the regulators have been bamboozeled. The real issue is what happens when they find out the truth ;)
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Replying to @ProfFaustus
ah, well. i guess it’s best to leave it to lawyers and accountants and avoid ICOs altogether until there’s clear regulatory framework


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Replying to @c4chaos
There IS a clear framework - it is the Jumpstart Our Business Startups Act, or JOBS Act (2012). https://www.sec.gov/spotlight/jobs-act.shtml … Been there way before ETH and ICOs Updated details - https://www.sec.gov/info/smallbus/secg/rccomplianceguide-051316.htm …
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Replying to @ProfFaustus
but the SEC/govt can’t chase after all the ICOs. it understands that it has to make leeway else all blockchain development will move somewhere else. maybe that’s why SEC hasn’t touched popular ICOs and only went after the small fishes.
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Replying to @c4chaos
And - no. I have seen ZERO value added in the entire ICO space. Zero. No, actually. Make that negative.
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i’m sure the people who made a killing on Ethereum and are now running their own VC funds will disagree with you 
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Replying to @c4chaos @ProfFaustus
they didn't create value, they "reallocated" (stole) value from small investors
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