Crypto-Currency Cloud Mining Startup

Aside from the SEC issue, Stripe the services that process payment for Fubdly will not process payment for this, as it violates their policies. Campaign being closed.

I have just learned the SEC has stated it views cloud mining as a security, and companies in US must register with the SEC. This will mean it will take longer for my company to actually start operations and award contracts. I am not allowed to offer the contracts until the SEC filing is complete and accepted. Thus this is just crowd funding for a start up company. Any return based on mining, are not available or offered until the SEC filling is complete.

From BATASnatin Law Library:
"It (an investment contract) is a 'contract, transaction or scheme (collectively ‘contract’) whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others.' (R.A. 8799)

The HOWEY TEST is the test established to determine whether a transaction falls within the scope of an investment contract. It requires that a person:

1. Makes an investment of money;

2. In a common enterprise;

3. With the expectation of profits;

4. To be derived primarily from the efforts of others."

https://www.batasnatin.com/law-library/mercantile-law/corporation-law/2261-investment-contract.html

Additional info: https://thompsonburton.com/mlmattorney/2018/01/22/cloud-mining-sale-unregistered-securities/