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Can I raise money through an initial coin offering (ICO) without violating securities laws in Montana? What are the requirements?
Requirements for Raising Money through an ICO in Montana
Based on the documents provided, it is important to note that initial coin offerings (ICOs) are considered securities offerings [3]([4]). Therefore, any ICO must comply with the registration requirements of the Securities Act of 1933 or qualify for an exemption from the registration requirements [1]([4]).
It is unclear from the documents whether Montana has any specific requirements for ICOs. However, it is important to note that Montana is the only U.S. jurisdiction that does not have a money transmitter law [5]([5]).
Therefore, if you are considering raising money through an ICO in Montana, it is recommended that you consult with a legal professional to ensure compliance with both federal and state securities laws.
Source(s):
- [1] - VIRTUAL CURRENCIES: THE OVERSIGHT ROLE OF THE U.S. …
- [3] VIRTUAL CURRENCIES: THE OVERSIGHT ROLE OF THE U.S. …
- [4] Testimony on “Oversight of the U.S. Securities and … - SEC.gov
- [5] GAO-18-254, FINANCIAL TECHNOLOGY: Additional Steps by …
Jurisdiction
Montana