First off, it is registered in another country and americans were not allowed to participate in the ICO.
Second, they have promised nothing. No exchange listing promises (most exchange listings seem to be done by the exchange itself), no road map, no price speculation, no announcements, and barely even any communication.
Third, the are a utility token, which is why I think they are not talking at all because they need to get the utility up and running. This is also why I expect Mainnet soon to get it going.
Fourth, they are hyperconnected, have very strong legal representation, and obviously have thought this out. To think they are not prepared and have the right people advising them is foolish.
Also, even it somehow they tried to claim they were a security, you can actually change you classification by demonstrating certain things. ETH would of been a security at the time of ICO but now isnt.
The SEC already likely subpoena them even if they were registered as a security. A company we advised during their ICO process recieved one, despite already being registered as a security. This has played out across country, hence another reason why everything has continued to decline or trade sideways.
The SEC did a mass sweep of every ICO in country. Inb4 CL is Caribbean jerk bunga. Because you're retarded.
To be fair, why has no one called the SEC to see CL or Smartcontracts legal filings?It's PAI/FOIA
Jason Gutierrez
Latest round of FUD...nothing to see here.
Dominic Baker
Tell me more
Justin Long
1. smartcontract.com promoted and held the ico on their website and have an office in the us. Plus they did no kyc and a bunch of 4chaners (many from the us) contributed to pools posted here. The team was surely aware of this (they got asked on slack about it) and did nothing to prevent burgers from participating.
The sec said that calling your token a utility token or designing it such that it provides some utility doesn't mean it's not a security. So point 3 means nothing.
4. means nothing. That's just wishful thinking.
You don't know what the sec is going to say. Nobody does. So saying it is or is not a security is just mindless blabbering.
Jayden Ramirez
Except that it is a security according to the sec, no matter what you say. The fact that the scam is being run from the Cayman islands is even worse.
Tyler Thomas
So then why is Eth not a security?
Brayden Ross
About what part?
Brayden Moore
What happens if it is deemed a security? Why is that such a bad thing?
Zachary King
Doesn't it strike you as odd that the timing of all this FUD appears at the same time. I'm not selling, besides if you have held this for any amount of time your well into the green.
Thomas White
It is really fucking weird man.
Daniel Sanders
Hmm, maybe it's because two icos just got fucked by the sec?
Kayden Bennett
So I'll elaborate anyway.
My professional opinion is that CL already preemptively registered as a security. Why? Everything CL has done via observation is parallel to what I've seen with companies who register with the SEC as a security.
Glaring examples are the no hype, frills, or advertising. Anons just think that's their style. No, I venture since they are registered as a security, they know they aren't allowed to advertise. But that opens up the question about the near viral memes.
Another thing that sparked it was their ICO, so SM is based in the US, and as pointed out already, they weren't "legally" separate (as a short version) right, so it was likely that CL was open to US investors, just accredited investors. Hence the inconspicuous 100eth min presale. Per SEC rules, you can only have accredited investors participate in the US. So likely a lot of CLs holders thus that, being people or corporations. But you can open it up to anyone outside the US during ICO since the rules don't apply, they just have to do a KYC.
Additionally the final thing was Sergeys previously reports of being involved in failed projects. No one explicitly knows WHY these failed. People speculate as FUD it was exit scams. I contend it was them not registering as securities or being aware the rules that brought his initial projects down.
I say this as a person who works part time for a tech start up who does ICOs in the US.
Though since they are out at conferences and shows, means that they've been cleared by the SEC or are close legally.
Jeremiah Nguyen
If link does turn out to be a security, what does that mean for us holders?
Leo Mitchell
>murica fucks chainlink up >murica regulates itself out of the future of financial markets so what? why should we care?
Nothing but good news. The SEC can't discipline token holders. Even if there was an issue, SM could have settled with the SEC and paid a small fine, like the one issued this week to the DEX.
If CL is continuing work (pivotal track) and making public appearances, its a good sign they are in good legal order. I just don't personally buy the concept of them stating they're a utility token with the interconnection between SM and CL. Legally too much of a gray area, and if you're a top company like DocuSign, why would you want to work with a company or use their product if they can't operate correctly? Honestly, I don't know why I haven't yet called the SEC help line and said I'm Eddie Money and have 2 tickets to paradise and want to know if SM/CL has filed as a security before I invest to the moon. I'm sure someone has
Julian Jenkins
Would it affect holders that want to cash out their linkies? Any possible tax effects?
Luis Reyes
Again it's entirely separate. Even if you bought in with the Jow Forums pool in 2017, there's nothing they can do when you go to sell to stop that. The SEC isn't going to tell Binance to stop your sell order for 1000 kinky links for 1,000,00 or whatever price.
Just have to pay your federal and state taxes, on long/short cap gains if applicable.
Jaxon Roberts
I see...why are anons so worried about all this sec business then? It sounds like it's nothing but meaningless fud
Lucas Gutierrez
99% of it is
I just differ with OP since he's retarded.
Right so for example, ShipChain did no SEC filings and was raped in a few months. The SEC and the State of South Carolina DP'D SHIP.
CL has continued to thrive, despite basically blanket subpoenas/RFIs sent out across the coutry to every ICO, so much that reputable entities like Town Crier are now under them.
Jonathan Moore
I see, thank you user for taking the time to quell my fears.
Caleb Nelson
For me it's not just that Chainlink seem to have had super solid advice for how to manage their project without attracting regulatory attention, it's also that what they're building is so fucking valuable that it would be insane for the SEC to tank it and let some other, foreign project be first past the post with a decentralised oracle. In reality I'm sure it's much more down to the former than the latter, but I still think the latter is a consideration.
Tyler Rodriguez
You wouldn't be off base in your assumption regarding the US Gov looking to keep competitive and supporting these sort of ventures. I was taking a training systems training course yesterday on a system that pulls live data feeds for analyzing. And I could only think CL and the uses in industry, military, etc.
Liam Cooper
Half of the US Government wants the US to fail, they only get votes (keep their job) by demanding change. You can't do that when things are going well.
