Is ADA still an ICO?

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21

Basically they are dodging the best ICO question a bit. Since they don’t enter the US market they can not be regulated as an ICO by the SEC.

My personal opinion is that, because they did not do a KYC / AML they will be unable to prove that there were no US citizens who bought EOS tokens and face some SEC backlash, or the disclaimer might hold up in court, I’m not knowledgeable enough in US law to be sure.

22

Yes, they also advertised their product on times square. Which is equivalent to blood in the water for the SEC sharks.

23

It’s not just the SEC. CFTC considers crypto a commodity under their jurisdiction as well. Advertising like that to retail without proper disclaimers etc is a big no no.

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