My thoughts are "obtained legal advice and etc etc have come to the conclusion that theyre not securities"
..is absolute BS.
Sorry but thats what every ICO conducted said, the SEC currently looking at 200 dif ICOs for unreg security sales.. there is no 'legal advice' ive seen in any case that is more than guessing how ASIC n the broader world will classify these.
Exchange tokens are in just as murky water as other utility tokens.
Just saying 'they are used to access the system, its a discount etc'doesnt make them exempt from the future rulings coming.
Theres no precedent yet as to what constitutes value for an investor n hence security status..everyone seems happy with each company saying 'our legal team assures us were fine' so im not surprised to see this doc contain that same industry accepted rhetoric here.
Major exchange tokens like Binances still havent been assessed..
Also, this is a cash grab.
134,000 bucks of presale tokens sold, I dont doubt its a CR tactic which will then see those holders benefit from immediate savings on fees when conducting arbitrage.
Why would u buy these tokens otherwise for a small exchange with predictably low volume to come?!
No new coins or pairs being offered..
