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

Requirements for Conducting an ICO in Vermont

Based on the documents provided, it appears that conducting an ICO in Vermont requires compliance with securities laws. The Vermont Department of Financial Regulation issued a Cease and Desist Order to LevelNet Inc. and Paul Shkliaev for offering and selling unregistered securities in Vermont through an ICO [1][3]. The order requires them to cease and desist from transacting any business as an unregistered broker-dealer and from offering or selling unregistered securities in Vermont.

Therefore, to raise money through an ICO in Vermont without violating securities laws, you must register with the Vermont Department of Financial Regulation as a broker-dealer and register the securities being offered [2]. Failure to comply with these requirements may result in penalties [2].

It is important to note that this response is based solely on the documents provided and may not be exhaustive or applicable to all situations. It is recommended that you consult with a legal professional for specific guidance on conducting an ICO in Vermont.

Source(s):
Jurisdiction

Vermont