The SEC updated Rule 506 of Regulation D on Nov 27th, 2017. Granted this video is a little old, I think it has been overlooked within the community.
This is amazing information for any new or ongoing ICO within the United States. We could see a brand new kind of KYC come about where these projects start requesting your bank statements or verify your financial well being and ensure that you are an accredited investor for the project at hand.
Here are some key points from this ruling that was just recently updated:
1. Companies relying on the Rule 506 exemptions can raise an unlimited amount of money.
2. The company must be available to answer questions by prospective purchasers.
3. Companies that comply with the requirements of Rule 506(b) or (c) do not have to register their offering of securities with the SEC
4. File a Form D (includes the names and addresses of the company’s promoters, executive officers and directors, and some details about the offering, but contains little other information about the company. )
You can find the original article here: https://www.sec.gov/fast-answers/answers-rule506htm.html
———- Crypto News TV Information ———-
**Crypto News TV Telegram Chat**
**FREE $10 in Bitcoin on Coinbase**
**Receive FREE Bitcoin 100% Free**
**Cryptocurrency Podcast on iTunes**