not that it applies to me as a Canadian citizen, though to clarify for any US citizens reading...
what is Rule 59?
would a trader still be held liable if the exchange sold to them, with their account registered in the US?
are the terms and agreements for the ICO that US citizens are not allowed to hold any of the EOS tokens, period - or rather that the company distributing the tokens are not allowed to sell to US citizens?
The SEC rule 501 (not 59) prohibits a company from selling an unregulated/unregistered security to public investors. But it doesn't prevent US public investors themselves to go and buy these securities through foreign exchanges (not sure about exchanges registered in the United States). So the terms and conditions are usually to protect the company (in this case EOS) from any litigation. But under certain exemptions these securities can be sold to 'Accredited' US investors.
Basically, what needs to be understood is that US investors are protected from any security fraud by having rules that prevent company's from selling unregulated securities.
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Excellent clarification. 👌
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Thanks!
btw do you have any tips to get popular in steemit? I hardly get any views on my posts :(
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