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RETN ICO Legal Status


US SEC Determinative Test

The following material considerations from the Order provide useful guidance to determine whether a token constitutes a security under U.S. securities laws:

1) Is the token a "pre-functional utility token", a term that has been used by some commentators to describe a token offered at a time when further work by the issuer of the token is required in order to develop the "system" within which participants in the network (in Munchee, the restaurants, food critics and reviewers, restaurant customers and others) are expected to exchange the token for goods and services?

RETN Status: Retainly Loyalty platform is ready and commercially available. RETN DApp is ready, and the APIs are in testing phase. Using the API any merchant is able to create a loyalty cash back redemption inside their application. This determines that RETN is a pre-functional utility token.

2) Are the future efforts of the issuer of the token and any promise to establish a trading system for the token expected to result in the increase in the value of the token?

RETN Status: RETN cannot comment if the companies efforts to onboard businesses and consumers on the network will result in increased value of the token. But it is certain that the more merchants start using RETN to give a reward to their consumers, more tokens will be purchased by the merchants.

3) Is the token offering targeting investors in tokens and cryptocurrencies as opposed to users or participants in the system? If the answers are yes, then the token at hand may well constitute a "security" token, which if offered for sale would require compliance with registration requirements under U.S. securities laws.

RETN Response: The token holders of RETN are consumers who are accumulating reward points. These token holders can also be referred to as early investors who will continue to get RETN tokens from supported merchants. Hence such token holders are all active users participating in this loyalty rewards ecosystem.

Conclusion: RETN is 100% compliant with SEC directives and thereby open to US Citizens to acquire the tokens either as rewards or purchase.

Check Howey Risk Report for RETN here