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Can I raise money through an initial coin offering (ICO) without violating securities laws in South Carolina? What are the requirements?
To raise money through an initial coin offering (ICO) in South Carolina, you must comply with securities laws. The South Carolina Securities Division requires ICOs to register as securities or qualify for an exemption. The requirements for registration or exemption vary depending on the specific circumstances of the ICO. Failure to comply with securities laws may result in civil or criminal penalties. It is recommended that you consult with a securities attorney to ensure compliance with South Carolina securities laws. [1.1]
Additionally, the South Carolina Attorney General’s Office has issued a statement cautioning investors about the risks associated with ICOs and advising them to thoroughly research any investment opportunity before investing. [1.1]
In summary, to raise money through an ICO in South Carolina, you must comply with securities laws and register as a security or qualify for an exemption. It is recommended that you consult with a securities attorney to ensure compliance.
Source(s):
Jurisdiction
South Carolina