You have proof that you are an honest man which such decission.
I asked in the same forum if US based loan program need to be registered with the SEC or not, and the answer was:
Quote:
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In the leading opinion, the Supreme Court of the United States, held that the definition of a security includes an investment contract, which is "a contract, transaction, or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or third party..." Designating such instruments as "loans" does not alter their legal status as securities. SEC v. W.J. Howey Co., et. al, 328 U.S. 293, 66 S. Ct.1100, 90 L.Ed. 1244 (1946).
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so this is probably the reason why SEC acted against global online depository.