⚠️ FINRA warns against ICOs offering SAFTs
FINRA pointed out that a SAFT is not an indication that the investment vehicle has received approval by regulators. No matter what a company says, there is no guarantee that the SEC or the courts would agree with a company’s assessment. Determination of securities is a facts and circumstances analysis, and titles don’t change that. A SAFT is a type of investment contract that is offered by crypto companies to accredited investors. It promises a certain number of tokens in exchange for an investment, on the condition that the tokens will be delivered once the business is up and running.
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