There is a basic rule, although I know it may worry many, it is part of the analysis that the SEC does, if it has a Bounty Program be careful.
Here I leave part of an article about it.
The Future of Bounty Programs
As ICOs rose in popularity in 2017, so did bounty programs. The allure of getting free tokens for promotional activities was something that appealed to a lot of crypto hobbyists. However, bounty programs have come under scrutiny from some financial regulators like the United States SEC. The reason for this is that bounty programs essentially encourage people to participate in a commodity that has a financial risk.
The main point of the SEC’s scrutiny is based upon the Howey Test and how it applies to bounty programs. The fact that profits come from the efforts of a third-party promoter (in this case, the participant in the bounty), then the bounty campaign constitutes an investment contract transaction. This, therefore, means that almost all bounty-promoted tokens are in fact securities, and are therefore subject to the SEC’s securities regulations.
The SEC isn’t the only one towing this line, with financial regulators in the UK also coming to the same conclusion. With the regulatory framework in the crypto market becoming more clearly defined, the bounty program may become the focus of more government scrutiny.
I do not post the publication and author, because I had saved that piece for a long time, but it is definitely not my own.
<==MBYZ Payment System with Shared Benefits==>
▐ █ ▌ ICO | Jun 1th, 2018 ▐ █ ▌
Right at this moment, in full release of our ICO, we had to make this clarification:
(https://storage.googleapis.com/mbyz-storage/Mbyz_iconblue_200x200.png)
I think it has generated an understandable confusion with several issues, in fact, in this link you can make the request to participate in the service (Bounty) https://docs.google.com/forms/d/e/1FAIpQLSdOpci_lvvS1maMtTc7sS0awqrYnKCdiwYC4B4zAQFDDVsuPw/viewform (https://docs.google.com/forms/d/e/1FAIpQLSdOpci_lvvS1maMtTc7sS0awqrYnKCdiwYC4B4zAQFDDVsuPw/viewform)
The issue is that we protect ourselves from possible regulations, we do not do the BOUNTY, as they expect or are used to doing in other launches, we directly, without competitions and without raffles or anything, only evaluation of the agreed work we pay directly the amount of MBYZ that is agreed in each case, for this is a requirement, fill out the form and agree with the marketing team an amount for the services. Here https://mbyz.store/rewards-plan (https://mbyz.store/rewards-plan) can find a little more information.
In the same way, and advancing a bit to what would be the formal launch, in this link you can find in the shopping section also part of what will be the real use of the token, to be able to directly buy goods through not only the page if not allied businesses. although for now we focus on the ICO and announce for now the entry to the Token Store exchange.
https://token.store/trade/MBYZ (https://token.store/trade/MBYZ)
Thanks
MBYZ Team
It is surprising how often we complain about how governments try to act against cryptocurrencies, but we are deaf to the recommendations of what to do and what not to avoid being outside the norms. I insist, our ICO, if it will resort to help from the community for the massification of its knowledge, but not in the figure of BOUNTY, which is clearly frowned upon. We insist on the figure of the provision of services, with direct and clear agreed payments. Our goal is to be a tool of use and not a Security.