On the EOS page we can read:
NO U.S. OR CHINESE PURCHASERS - EOS TOKENS ARE NOT BEING OFFERED OR DISTRIBUTED TO U.S. PERSONS OR CHINESE PERSONS.
Why are these groups of people excluded from the EOS token sale?
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1I question the long term viability of this question. The token sale will be over in less than a month at which point this question will be moot.– John HaagerCommented May 8, 2018 at 17:06
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@JohnHaager it's better that the question is asked and answered once instead of being spammed constantly because we removed it. Once new users repost this question we can remove the duplicates and link them here.– altShiftDevCommented May 8, 2018 at 18:10
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I agree, I've seen the question all over the net. Id venture a guess, as, they wrote there terms when, there was even less, of an idea about what, government regulation would take the shape of. They were limiting therecollective liability and, as previously stated, the question is moot, once the platform is launched, the beauty of a decentralized model shows. Access for whosoever desireth– Jerod "jerhole" nevorchianCommented May 9, 2018 at 11:54
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Please mark this question as completed if you're satisfied with the answer, if not please provide more details.– altShiftDevCommented May 16, 2018 at 20:25
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1None of the answer got any sources/references to backup their claims, so I prefer to wait a bit longer till the site goes public to still give a chance for others.– kenorbCommented May 16, 2018 at 20:29
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3 Answers
They need to protect themselves from the SEC which is in the middle of determining a classification for crypto currencies and ICOs.
They have no means of actually preventing you from purchasing, owning or otherwise transacting in EOS on the ICO or from a 3rd party exchange.
Further, some have expressed concerns that users from these countries who purchased EOS despite the USA/CHN ban will not receive their coins during the June launch. This is incorrect, there's no means in place of detecting your location before handing out the tokens. So long as you register your tokens properly you will receive the appropriate amount of EOS Coins after June 2nd.
Their are various legal reasons why it is more difficult to accept direct investment in direct ICO purchases for EOS. Many projects choose to exclude US or Chinese citizens because the law under which the government will enforce rules is not fully codified and therefore creates uncertainty, or the laws and regulations are more stringent than other countries.
You can purchase EOS tokens from crpytocurrency exchanges such as Binance or many others.
Right now there is a legal controversy in the US, to decide whether crypto currencies are considered a security or not. Usually a security offers some kind of dividend (in this case possibly Airdrops). If EOS.IO is considered a security, it will be banned or penalized in the US. I think EOS.IO wanted to mitigate any legal ramifications by excluding the US territory. Therefore it won't be scrutinized as a security if it's not allowed to have it's ICO open to US residents.
