Because I'm a founder in the crypto space, also born and raise in NY and I know from first hand experience that NY isn't exactly the most favorable state to be headquartered in when running a crypto company. I know a way around facilitating a presale, and running a treasury is through a seperate foundation entity.
I am born and in the process of being raised in NYS and I can agree with you on regulations for individuals. But for LLCs like Kadena that have followed every action by the legal book, they are already on track to be recognized as a non-security by the SEC hence given a pass from NYS as it would be considered like any other asset.
well yes, its hard as an individual, the complications im talking about, and why im wondering if there's a seperate Kadena foundation is the facilitation of a token sale, especially out of the state of NY. I'm not sure how KDA launched but I assume it wasn't a stealth launch, and I'm sure they must've had a private sale to raise initial liquidity. Im curious how they were able to execute this as a NY LLC
They had their ICO up to code with the SEC at the time
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