Cannabis, Crypto and Crowdfunding

What could be bad?

The leading marijuana magazine High Times has been on an acquisition spree, now being funded by its Securities and Exchange Commission registered Regulation A+ crowdfunded offering.

Weed-Wallpaper

According to Forbes, over 1,000 people have invested so far, and to make it easier, the company announced that it will now accept Bitcoin and Ethereum cryptocurrencies as payment for its shares.

Purchases will be handled by a third party clearinghouse.

It’s unclear how the cryptocurrency will be priced (ie, on the date it clears and is paid in fiat dollars?).

While the company thinks it permits international buyers to participate, will the company be complying with that country’s securities laws? The article doesn’t say.

https://www.forbes.com/sites/dbloom/2018/08/02/high-time-cryptocurrency-crowdfunding-cannabis-marijuana/#762339e2ea1a

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in Broker dealers, CFTC, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Funding Portals, Investments, Jobs, Legislative Intent, review, SEC, Small Business, technology, VC, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , . Bookmark the permalink.

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