21–30 of 46 posts
I mean, it's some progress, I guess. How long until the US Gov goes after all the folks who keep doing pump & dump/"rug pull" b.s with new coins? There seems to be a never-ending trail of those.
I’m not educated on crypto but wouldn’t it be easier to go after the fiat->coin people or do people really just mine / buy coin with cash?
> “ Despite cease-and-desist actions against Forsage for operating as a fraud in September 2020 by the Securities and Exchange Commission of the Philippines and in March 2021 by the Montana Commissioner of Securities and Insurance, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.” Even now, the site Forsage.io is live, and claims that 2,55…
Quoted post unavailable.
I mean, it's some progress, I guess. How long until the US Gov goes after all the folks who keep doing pump & dump/"rug pull" b.s with new coins? There seems to be a never-ending trail of those.
At least it would help set a public example for others.
I mean, it's some progress, I guess. How long until the US Gov goes after all the folks who keep doing pump & dump/"rug pull" b.s with new coins? There seems to be a never-ending trail of those.
The SEC is mostly complaint-driven. When someone complains their money was stolen, they can investigate. So enforcement actions come during the collapse phase of scams. The "cyber" enforcement staff was recently doubled, so enforcement actions should pick up soon.
The SEC pretty much shut down the ICO boom by sending out letters to coin issuers, "Please explain why your FooCoin isn't an unregistered securities offering." A few issuers filed an S-1 and registered as a security, while others just gave all the money back. We don't see many pure ICOs any more. We do see desperate attempts to make something a "utility token", used mostly for some other purpose than speculation.
[1] https://www.sec.gov/spotlight/cybersecurity-enforcement-acti...
> “ Despite cease-and-desist actions against Forsage for operating as a fraud in September 2020 by the Securities and Exchange Commission of the Philippines and in March 2021 by the Montana Commissioner of Securities and Insurance, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.” Even now, the site Forsage.io is live, and claims that 2,55…
If it's actually on chain as a smart contract, it can't be shut down unless the code was written to allow it.
Earlier quoted context omitted.
If it's actually on chain as a smart contract, it can't be shut down unless the code was written to allow it.
You could make hosting and distribution of the code a prohibited act. Wanna still host that Blockchain if it can get you arrested? Just cus it lives as code doesn't mean someone or some group isn't responsible for distributing it.
> “ Despite cease-and-desist actions against Forsage for operating as a fraud in September 2020 by the Securities and Exchange Commission of the Philippines and in March 2021 by the Montana Commissioner of Securities and Insurance, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.” Even now, the site Forsage.io is live, and claims that 2,55…
If it's actually on chain as a smart contract, it can't be shut down unless the code was written to allow it.
Earlier quoted context omitted.
I’m not educated on crypto but wouldn’t it be easier to go after the fiat->coin people or do people really just mine / buy coin with cash?
What crime are the fiat->coin exchanges committing? (Excluding the insider trading of one individual at coinbase)