Mass violation of the law for non-profit organizations. Result.

We have analyzed projects published by crypto exchanges over the past four months. None of the projects they published indicated on their website, or in the materials they submitted, that these projects are NON-COMMERCIAL.

Investors of these projects, which are any buyers of cryptocurrencies issued by these projects, were misled by the owners of these projects. Non-professional investors who invested in such projects were not aware of the need to display this information on the websites and promotional materials of such projects.

All electronic and printed materials of a non-profit organization must provide information about the non-profit purpose of this organization. If the company is commercial and provides its investors with the opportunity to make a profit, these conditions must be displayed in the electronic and printed materials of the company.

The amount of profit and the period during which the investor promises to fulfill his obligations to receive this profit for the company's investors. None of the hundreds of projects published by crypto exchanges has provided such information, respectively, all these projects are non-commercial.

The lack of information about the non-commercial purpose of these companies has misled millions of investors who bought the digital assets of these companies. This has caused economic damage to millions of people around the world who have irretrievably lost their investments. The situation was aggravated by the appearance created by the media and influencers that ALL crypto projects are commercial projects, how else can their calls for multiple profits be interpreted?

However, ALL the projects we analyzed that were listed on the stock exchanges in the last four months were non-commercial projects and did not contain any information at all about the size and timing of the return on investment.

The above organizations, which are explicitly non-profit organizations with a complete lack of profit for investors, also do not have the right to distribute profits among their participants by tax laws. However, judging by the unstoppable growth of such companies, they carry out such distribution in violation of the tax law.

CEO Aething Inc.
Ihar Kul

An open letter to Senator Sherrod Brown
An open letter to Senator Sherrod Brown
May 02 / 2023
Text author: Ihar Kul

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