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Offline que23

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Should DAC teams incorporate?
« on: December 19, 2013, 11:31:36 AM »

I'm working with another community member on a DAC proposal. If we get a team together, should we form a legal company?
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Offline luckybit

Re: Should DAC teams incorporate?
« Reply #1 on: December 19, 2013, 01:26:38 PM »
This is an interesting question and to extend on it.

When equity crowd funding goes into effect in the USA will these angelshares in these DACs be convertible to real life legally backed shares?
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370540017677
http://www.forbes.com/sites/northwesternmutual/2013/12/05/the-next-big-thing-where-crowdfunding-and-investing-meet/
It seems it is only a matter of time before the SEC issues its new ruling on crowd funding. If each DAC team becomes a legal company, with all the legal ramifications, could the community get the legal benefits as well? It begs the question about whether equity crowd funding makes sense. Right now it's in a grey area but once the SEC puts crowd funding in full effect in 2014 why not just use that too?

If it doesn't fit into the regulatory framework then it becomes obvious to push for regulatory reform as necessary.
« Last Edit: December 19, 2013, 01:34:58 PM by luckybit »
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Offline que23

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Re: Should DAC teams incorporate?
« Reply #2 on: December 19, 2013, 01:44:35 PM »
This is an interesting question and to extend on it.

When equity crowd funding goes into effect in the USA will these angelshares in these DACs be convertible to real life legally backed shares?
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370540017677
http://www.forbes.com/sites/northwesternmutual/2013/12/05/the-next-big-thing-where-crowdfunding-and-investing-meet/
It seems it is only a matter of time before the SEC issues its new ruling on crowd funding. If each DAC team becomes a legal company, with all the legal ramifications, could the community get the legal benefits as well? It begs the question about whether equity crowd funding makes sense. Right now it's in a grey area but once the SEC puts crowd funding in full effect in 2014 why not just use that too?

If it doesn't fit into the regulatory framework then it becomes obvious to push for regulatory reform as necessary.

Well right off the bat, it said the limits were 1 million dollars a year for companies, which is crazy low. Thanks for this. I'll have to read it tomorrow. I wonder that with still no guidance on the nature of altcoins, if any of this stuff even applies.
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Offline bytemaster

Re: Should DAC teams incorporate?
« Reply #3 on: December 19, 2013, 04:44:00 PM »
This is an interesting question and to extend on it.

When equity crowd funding goes into effect in the USA will these angelshares in these DACs be convertible to real life legally backed shares?
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370540017677
http://www.forbes.com/sites/northwesternmutual/2013/12/05/the-next-big-thing-where-crowdfunding-and-investing-meet/
It seems it is only a matter of time before the SEC issues its new ruling on crowd funding. If each DAC team becomes a legal company, with all the legal ramifications, could the community get the legal benefits as well? It begs the question about whether equity crowd funding makes sense. Right now it's in a grey area but once the SEC puts crowd funding in full effect in 2014 why not just use that too?

If it doesn't fit into the regulatory framework then it becomes obvious to push for regulatory reform as necessary.

Well right off the bat, it said the limits were 1 million dollars a year for companies, which is crazy low. Thanks for this. I'll have to read it tomorrow. I wonder that with still no guidance on the nature of altcoins, if any of this stuff even applies.

If you don't want your funding to count as income, then you will need a company so you can write off expenses.
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