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Can I raise money through an initial coin offering (ICO) without violating securities laws in New Mexico? What are the requirements?

Based on the documents provided, it appears that securities laws in New Mexico do apply to initial coin offerings (ICOs) [1.1]. Securities registration is required for any person offering or selling a security in New Mexico, unless the security is a federal covered security or exempted from registration [1.5].

However, it is important to note that nothing in the Model State Commodity Code shall impair, derogate or otherwise affect the authority or powers of the director under the Securities Act of New Mexico [repealed] or the application of any provision thereof to any person or transaction subject thereto [1.2].

If you are considering an ICO, it is recommended that you consult with a legal professional to ensure compliance with securities laws in New Mexico. Additionally, a registration statement may be filed by the issuer, a person on whose behalf the offering is to be made or a broker-dealer registered pursuant to the New Mexico Uniform Securities Act [1.3].

Therefore, it is important to ensure that your ICO complies with securities laws in New Mexico and to consult with a legal professional to determine the specific requirements for registration.

[1.1]: Securities laws apply to time shares deemed to be investment contracts or to other securities offered with or incident to a time share. [1.2]: Securities laws unaffected. Nothing in the Model State Commodity Code shall impair, derogate or otherwise affect the authority or powers of the director under the Securities Act of New Mexico [repealed] or the application of any provision thereof to any person or transaction subject thereto. [1.3]: A registration statement may be filed by the issuer, a person on whose behalf the offering is to be made or a broker-dealer registered pursuant to the New Mexico Uniform Securities Act. [1.5]: Securities registration is required for any person offering or selling a security in New Mexico, unless the security is a federal covered security or exempted from registration.

Source(s):
Jurisdiction

New Mexico