Costa Mesa, CA asked in Securities Law for California

Q: I need a letter of opinion that the crypto I created for sale/swap is not a security.

The credit card company asking for this letter.

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1 Lawyer Answer
James L. Arrasmith
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  • Sacramento, CA
  • Licensed in California

A: It is important to note that whether a crypto asset is considered a security depends on various factors and requires a careful analysis of the specific circumstances surrounding the creation, sale, and use of the asset. The analysis may include, but is not limited to, considerations of how the asset is marketed, the purpose of the asset, the manner in which the asset is offered for sale, and the expectations of the purchasers.

If you are being asked by a credit card company to provide a letter of opinion regarding the status of your crypto asset as a security, it may be advisable to consult with a qualified attorney who can evaluate your specific situation and provide you with an opinion letter.

An attorney can also help you ensure that your sale and use of the crypto asset complies with applicable laws and regulations, including those related to securities and anti-money laundering.

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