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Under current rules, after 1-yr lockup period investors are able to sell to other accredited investors.

Hopefully by then we'll have some new, regulated exchanges that can automate the process.

Hopefully the investors realized that their lockup may extend longer than they thought.

I am not a lawyer, but my understanding is that accredited investors do not need an exchange or a regulated entity to sell their tokens to other accredited investors. They have some compliance burden, but can, under the right circumstances, comply with that burden absent a regulated exchange or broker dealer.

I am not a lawyer, and the above paragraph may be incorrect.

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