Think twice before hiring a lawyer for your ICO!

SEC has no power outside of USA.
  1. Hire a lawyer from you own country and from the country where your company is registered (if they are 2 separate countries). Make sure they know local laws.
  2. Don’t hire an ICO lawyer from multi-million dollar ICO promotion company. They will just charge you 10 times more and be completely useless.
  3. ICOs are not regulated in most of the countries, this mean that in most cases you will not need any complicated legal services. Just a legal disclaimer that will protect you in the unlikely event of any problems will be sufficient.
  4. Don’t believe lawyers that frighten you with SEC! SEC has no power outside of USA. So unless you physically life in USA, have USA citizenship or have USA company you don’t need to give a damn about what SEC thinks.
  5. China and South Korea has banned their own citizens from buying ICO tokens. They have not banned foreigner companies from selling tokens to Chinese or South Korea citizens, because they have no power to do so.
  6. You should do KYC only if it’s required by the country where the company is registered. Do not do KYC because of USA, China or South Korea. In this case it will do only harm for you, because if you one day will expand to these countries you will already have gathered proof of all the laws you broke in those jurisdictions. Don’t help those government, without KYC, they will have no proof that you ever did anything wrong.
John McAfee knows what he’s saying.