We reached our goal! Today we converted the donations to USD and sent the wire transfer to the lawfirm. Thank you all for contributing. This document we think is of crucial importance for partnerships, exchanges and other deals we might make. We all know IOC is not to be considered a security because of the way we launched in 2014 and have been operating ever since. But – as expected – people want written legal proof / document explaining this. This is exactly what we are getting. When the document is here, we can let the world know we are NOT to be considered an security and a legal firm has tested us against different legislations and hearings. To stand out of all these ICO’s – that will be hit hard the coming months – this is a big step forward in professionalising and anticipate on things that come. Together we can make this happen and make IOC one of the top Blockchains and communities out there. We are doing an excellent job all together. Again, thanks!
The I/O Coin project team has always been forward-thinking when it comes to discussions of the future vision
for the project and the landscape in which we operate. As a quick reminder, I/O Coin was started without an ICO, no developer pre-mine,
and was fairly-launched in 2014. Since then, the project has been funded by the development team and community.
If the project is to move forward in a truly decentralized way, the community needs to get involved from time to time when it comes to funding specific initiatives.
As you all are reading and experiencing, the legislation in crypto is hardening and intensifying. Many exchanges want written proof that a crypto currency is not considered to be a security according, for example, the Howey test, Reves Family Resemblance test and the Munchee Cease-And-Desist order. It is also our belief that going forward, possible business partnerships may require legal documentation of I/O Coin’s status. This is the area we are requesting your help.
I/O Coin project team members have reached out to a third-party firm for legal written guidance in the area of future regulation compliance
and to keep legal counsel on retainer. Just finding a legal firm to assist in this space is a big win forI/O Coin moving forward and will make adoption, integration and partnerships way more easier and ahead of competition. We made a special deal with this firm.
However, the target funding goal is $7,500 USD (roughly 1 BTC) and we are looking to fund it completely by the end of the week.
Below is the Bitcoin donation address if anyone is in a position to donate even a couple satoshi to the cause.
There is ongoing work on an official I/O Coin project donation site but this initiative is time sensitive.
So please help spread the word about this initiative and please contribute if you’re in a position to do so to keep this project moving forward
for the future.