Re: [registrars] WLS as an option - we can't sell these
- To: Jim Archer <jarcher@xxxxxxxxxxxxxxxxxxx>
- Subject: Re: [registrars] WLS as an option - we can't sell these
- From: Mark Jeftovic <markjr@xxxxxxxxxxx>
- Date: Thu, 7 Aug 2003 17:35:20 -0400 (EDT)
- Cc: Registrars List <Registrars@xxxxxxxx>, <halloran@xxxxxxxxx>, <twomey@xxxxxxxxx>
- In-reply-to: <firstname.lastname@example.org>
- Sender: owner-registrars@xxxxxxxxxxxxxx
Your concern may not be very far-fetched at all. Anyone who had to
shell out refunds for the .BIZ landrush lottery can see the
I've been referring to WLS as a "digital derivative instrument" for
On Thu, 7 Aug 2003, Jim Archer wrote:
> Hi All...
> Just a reminder to everyone that a wait, as currently described, sounds
> quite a bit like an "option." In fact, in Montreal, Bruce Tonkin actually
> suggested that I describe it to my customers as such.
> In the US, as in Australia and most countries, the sale of commodities,
> futures, options and so on is regulated. The unlicensed sale of
> commodities is prohibited.
> During the .BIZ rollout, almost all registrars were quite surprised to
> discover that they can't sell lottery tickets. Gee, big shock, hua? I
> don't have any idea why this surprised anyone. It was immediately clear to
> us that we could not sell lottery tickets and so we didn't.
> Don't be surprised if, when you start selling waits, the SEC or other
> appropriate regulatory agency contacts you, or if some entity sues you.
> Everyone here can pretend all they want that there are no legal issues with
> selling waits. Maybe you'll be lucky and no one will call you on it.
> Maybe no one will sue or investigate. Maybe it is entirely legal. Who
> knows? Just answering the questions could be enough to put people out of
> business. But the lawyers will do well spending your money.
> You have been warned.
> James W. Archer
Mark Jeftovic <markjr@xxxxxxxxxxx>
Co-founder, easyDNS Technologies Inc.
ph. +1-(416)-535-8672 ext 225