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👆#TurnKey,Inc.: #SEC turning the (same)key in the lock
Surprised that commentators think there is anything new in this decision. It is simply a different type of argumentation. It is for the first time a #negative #definition of #ICO #regulation by #securities’ #laws. Thread👇
Surprised that commentators think there is anything new in this decision. It is simply a different type of argumentation. It is for the first time a #negative #definition of #ICO #regulation by #securities’ #laws. Thread👇
👉1. In Munchee Inc., SEC claims (sec.gov/litigation/adm…):
⛔️Munchee has no viable product
⛔️tokens sold are not usable, but will possibly be in the future
⛔️ICO will fund the development of the project
⛔️MUN price will vary AND reasonable expectation of future profits
⛔️Munchee has no viable product
⛔️tokens sold are not usable, but will possibly be in the future
⛔️ICO will fund the development of the project
⛔️MUN price will vary AND reasonable expectation of future profits
⛔️#profits (or losses) depend solely on efforts of #Munchee #managers
⛔️#marketing MUN token in the manner to induces the purchasers to believe there is a profit expected solely for buying MUN and reselling it later.
⚠️a positive definition -> this IS a security
⛔️#marketing MUN token in the manner to induces the purchasers to believe there is a profit expected solely for buying MUN and reselling it later.
⚠️a positive definition -> this IS a security
