How Civic Sold $33 Million Dollars in Tokens with Zero Marketing
Tammy Camp
27010

I have difficulty in swallowing some of the claims: a) meeting all privacy concerns worldwide, b) not selling “equity”. As attorney, I have encountered many varied privacy rules throughout the world. Compliance is difficult, expecially how and where the data is being stored. Europe applies some “safe harbor” rules, but other countries, like China, demand stricter compliance. Plus, it would require an army of lawyers giving legal advice for each and every country’s compliance. And this ICO is a “security” under SEC rules and regulations. You don’t have to sell share certificates to be regulated under the SEC. The way described it smells and looks like a “security”. Any SEC compliance here? I do agree that a universal identity model for international transactions is needed.

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