How do Americans cash out profits from ICOs if they are illegal to begin with?

They aren't? SEC has never stated that.

literally i only use BTC to buy steam games and purse.io stuff

show me the exact US SEC legislature that explicitly states that it is illegal for American citizens/nationals to participate in ICOs

you think the taxman gives a shit if i violated Bancuck or ChinkLink's terms of agreement?

It's on the SEC's website

Only accredited investors can partake in private placements of securities.

In fact, that's true in many other countries too, they just arent as scary as the USA

Me too I'm hopeless

>It's on the SEC's website
complete bullshit, they gave a vague statement hinting that ICOs *might* be securities while referencing the DAO

still waiting for that official legislature, i'll wait while you hopelessly look

Chill out, I'm on your side, but it's real

seclaw.com/introduction-private-placements/

Who knows if/when they will enforce it

"Found a private key in a forum"
"Bought it years ago"
"Post my btc address on Veeky Forums"

And so, so more.
It's so fucking easy.

Yes, this. Anyway, they can't control anything. They can't even prove that your btc address is yours.

>They can't even prove that your btc address is yours.
They won't have to, they'll just take your cash if you can't provide evidence on it's origins.

I was still in the bitcoin world, wasn't thinking about fiat.

its so hard to find nice chinos like that now, I wonder where he gets them

Lieing about something that's easily verifiable on a public ledger

Is it illegal for me to buy coins on an exchange? Hmm.

That's what Monero is for

I'm curious about that too

If the SEC ever makes good on their warning (which they won't), they aren't going to waste their time on any of the many thousands of people who have bought alt coins. They're going to go after the creators and distributors.

Don't say you mined them... Then it is considered a $0 cost basis and you pay tax on the entire price you sold the BTC for

They're not illegal. You all would benefit from some trading experience outside of crypto.

If the ICO is a security, it falls under pre-existing securities regulation.
If the ICO is not a security, buy it, buy as much as you want, no regulation.

In order to purchase the ICO, the ICO must either be registered with the SEC or the purchaser and issuer must utilize SEC registration exceptions.

If an issuer and a purchaser wishes utilize registration exceptions, the purchaser must qualify for exception under one of the following rules, 504, 505, 506b or 506c. The issuer must qualify for rule 114. Under the JOBS act there are additional exceptions available, but they're complected.

Any transaction involving the sale of securities is violating the Securities Act and is subject to prosecution.

The SEC moves in slow motion, but when shit happens it happens hard and fast. Not trying to intimidate anyone, so don't get offended, this is just reality.

Probably not man.

>Implying we're not all accredited investors using Coinlist

if i just say
>i mined them years ago
>someone on a forum gave them to me years ago
>i won them playing a game years ago

can i get cucked? im not usfag anyway

I used USB sticks and dead drops

Yeah, if you're non US you're okay unless your countries version of the SEC is just as ridiculous.

If you were in the USA - The FBI has the ability to subpoena, or the international equivalent, the transaction records and personal information of any US Citizen. With I could site the ruling I read this from... They litigated an exchange a while back and one the ability to do this, and it set the tone.

Nice user, you made it to low earth orbit. Almost to the moon.

I would be interested in starting a group to talk about regulations and share our experiences from multiple countries.

fuck off newfags. what retarded questions.

This same thread has been popping up for about 6 months now. That and the tax thread.

Just think of how many crypto tax threads there will be in april. lol.

Seconded, I've never had any problems with virtual stuff. My govt just doesn't care, they only recently started cracking down on piracy at international request.

What taxes I'm just a little 22 yo brainlet buying digital tulips to quench my autism hehe ;p

I feel like unless you're cashing out literal millions, if you just pay your taxes on your money they're not going to investigate too much. They don't have the time, resources, or motivation to go after people paying their taxes on $50k of bitcoin for example, just give a plausible story and you're fine

Alright, so I've started a cryptocurrency group for Veeky Forums users on Wire (wire.com). Wire is a secure platform that I trust for communications more than others at least. Fill in your e-mail and I will send you an invite. Their beta team chat is free for 30 days and after that either I will pay for it or we can all chip in, I'm not sure how much it is right now.

link me some altcoin groups in discord telegram etc. and I will give you 0.1 btc