For those who follow the cryptocurrency industry, regulation is in the news on a near-daily basis.

Verasity has been built upon a foundation of strong legal advice and we intend to safeguard the project and token sale participants from regulatory action. In short, this simply means Verasity will be doing everything to the letter of the law and beyond.

U.S. accredited investors can participate in Verasity’s Token Sale

No U.S. citizens can participate in the Verasity Airdrop.

What is an accredited U.S. investor?

An accredited investor is a person or entity who can deal with securities that are not registered with financial authorities such as the SEC. These individuals or entities also meet criteria around income, net worth, size of assets, governance status, or professional experience.

The SEC’s definition of an accredited investor refers to those who are financially sophisticated and less likely to require protection.

Investopedia’s definition of an accredited investor:

To be an accredited investor, a person must demonstrate an annual income of $200,000, or $300,000 for joint income, for the last two years with expectation of earning the same or higher income. An individual must have earned income above the thresholds either alone or with a spouse over the last three years. The income test cannot be satisfied by showing one year of an individual’s income and the next two years of joint income with a spouse. The exception to this rule is when a person is married within the period of conducting a test. A person is also considered an accredited investor if he has a net worth exceeding $1 million, either individually or jointly with his spouse. The SEC also considers a person to be an accredited investor if he is a general partner, executive officer, director or a related combination thereof for the issuer of unregistered securities.

An entity is an accredited investor if it is a private business development company or an organization with assets exceeding $5 million. An organization cannot be formed with a sole purpose of purchasing specific securities. Also, if an entity consists of equity owners who are accredited investors, the entity itself is an accredited investor.

In 2016, the U.S. Congress modified the definition of an accredited investor to include registered brokers and investment advisors. Also, if a person can demonstrate sufficient education or job experience showing his professional knowledge of unregistered securities, he is also considered an accredited investor.

Can I participate in Verasity’s Airdrop?

If you are a U.S. resident you are unable to participate in Verasity’s Airdrop.

Can I participate in Verasity’s Token Sale?

If you are a U.S. resident you must meet the definition of an accredited investor (see above) to be eligible to participate. The private sale will be proceeding in the U.S. exclusively under The Securities Act, Regulation D, Rule 506(c).

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