October 05, 2022

Coliquidity AMA on Oct 5

5 minutes

We discussed the recent case where Kim Kardashian has been charged by the SEC for promoting an unregistered security.

It’s not a problem for Fairpool because:

Any influencer can create a personal token which is not a security by simply setting the dividends to zero. No dividends = Not a security.

Any influencer can explicitly mention that this token is not offered to the residents of the United States.

Fairpool will act in good faith trying to prevent selling the security tokens to US residents, asking every user to tick a checkbox confirming that they are not such a person. However, we can’t prevent the blockchain transactions because such transactions can be sent to validators directly (not through our frontend).

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