US citizens cannot acquire tokens, although this country is considered the most desirable in terms of ICO and crypto-currency business.

Why so? Let’s try to figure it out together. First of all, let’s assess the background in the states at the moment. Companies that have opened representative offices in the US for ICO and token release, have to register another company in those jurisdictions where such activities are approved, or this issue has not been settled by the time of the token sale.

Another matter is also that the stock market and securities legislation limited the participation of residents and citizens of the United States in token-seals. In July 2017, representatives of the SEC reported that the tokens could be recognized as securities if certain conditions were met.

For example, a give a share in the company, vote right, profit promise, etc. Whether a token classifies as security determines by Howey Test, Capital Risk Test, Family Resemblance Test and other tests. In addition, the SEC prepared documents designed to warn future investors about risk with participation in the ICO.

All this applies to various ICO projects around the world, because they have to limit the participation of US citizens. Therefore, US projects are forced to opt for other jurisdictions for token sale in order not to complicate the lives of investors and themselves.

To sum up, a conclusion can be made that the development of ICO in the States is rather vague, at least at the start. Most likely, companies, having a head office in the US, will continue to sale tokens through more loyal jurisdictions.

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