November 26, 2017

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Vezt may not be legal

November 26, 2017

A new article from the NY Times slams Initial Coin Offerings (ICO's) as being illegal.

Joseph Grundfest, who was a commissioner at the S.E.C. in the 1980s and is now a law and business professor at Stanford, said he had been contacting current commission officials and staff to urge them to bring cases, and fast.


“I.C.O.s represent the most pervasive, open and notorious violation of federal securities laws since the Code of Hammurabi,” Mr. Grundfest said in an interview.


Initial Coin Offerings Horrify a Former S.E.C. Regulator

NY Times Article


If what Joseph is saying is accurate, and not sure why it would not be, then the whole Vezt platform could be deemed an illegal investment scheme.


This would not necessarily mean that the company would shut down, it just means that they would have to go through the regulatory process with the SEC to register. It would then be up to the SEC to decide any penalties or how the platform might have to change its model.


Sometimes the easy way is not the right way, and I guess that is why they didn't let anyone from the US invest in the ICO.   



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