They can call this a coin or a cryptocurrency, but they're soliciting investors, investing in comics, issuing dividends, engaging in buybacks - it's an investment company as far as the SEC is concerned. I hope they have consulted a good securities lawyer because this looks flat-out illegal without complying with all the regulations in place.
Oh, and any dividends are absolutely going to be taxable in the eyes of the IRS.
this.....
oh - and you should make sure to inform the comic shop that will be holding on to the books that they may be at significant risk. If the SEC, FTC, IRS or any of the regulatory agencies take a hard look at this - the store can/will get raided and ANY stock confiscated and potentially sold.
Hope you guys formed an LLC as well - or bye bye to those personal assets. Cuz if that one guy from China shows up with 50% of the coins and demands to take half of the books and is refused....... you are now in the fraud playground.
Ok, that is ridiculous both factually and regarding the law.
Furthermore, those agencies are well aware of crypto and what is going on and have even made some comments about it. But, even if it what you said was remotely true, they sure won't be going after some lowly coin with $5,000 in comic books before all of those coins worth hundreds of millions of dollars (in Bitcoins case, billions) in people's hard earned money. And all they are offering is promises (in most cases).
Look, I understand, many of you dislike this idea and only time will discover if you are correct in your assessment. But, to think that the SEC is going to start some huge crackdown on a coin worth $5,000 is just ludicrous and hyperbolic.
The crypto world is what it is. If you don't like it, that is understandable and you are not alone. But, for many of us, it is a fun hobby (like comic books are) and it is enjoyable as it is.
delekkerste, is correct in his assessment of what you are trying to do is essentially illegal. This is just not crypto, it is an investment looking for investors. You are going to need to do a whole lot of paperwork with the various regulators to get on the legal side of things.