"Pump and dump" cryptocurrency schemes are illegal, and enforced by the SEC. If prosecuted, this can lead to jail time and fines.
>Can the SEC regulate crypto? Yes. A security is defined using the Howey Test. The Supreme Court stated in Marine Bank v. Weaver, 455 U.S. 551, (1982), the definition is “quite broad” and meant to include “the countless and variable schemes devised by those who seek the use of the money of others on the promise of profits.” For more information on SEC's enforcement against crypto, see: sec.gov/investor/alerts/ia_virtualcurrencies.pdf
>But I don't live in the US. The SEC enforces Security Fraud cases overseas. If there is a US victim, the scheme falls under SEC jurisdiction. Nearly every country cooperates with SEC investigations. For more information, see: sec.gov/about/offices/oia/oia_crossborder.shtml
>I don't want to get arrested, what I can I do? The SEC offers a whistleblower program. If you bring evidence that leads to a securities fraud conviction, you will avoid prosecution and you are eligible for a reward. Eligible whistleblowers are entitled to an award of between 10% and 30% of the monetary sanctions collected by the SEC and related law enforcement authorities. For more information, see: sec.gov/about/offices/owb/owb-faq.shtml
>How do I whistleblow? In order to qualify for an award under the whistleblower program, you must submit your information either through the online Tips, Complaints and Referrals questionnaire or by completing the hardcopy Form-TCR and mailing or faxing it to the SEC Office of the Whistleblower, 100 F Street NE, Mail Stop 5631, Washington, DC 20549, Fax (703) 813-9322.
I get that you don't want it to be, but as a matter of law it is.
Robert Sanchez
this.
KYS OP. We know the Army and CIA are deploying good little faggot drones to infiltrate """"alternative social media""""" to spread blantant propaganda like this shit to scare normie weak hands out. Say and do what you want, literally no one can stop cryptocurriencies. Take that Jew-merican flag patch on your arm or button on your suit coat and cram it up your ass
Robert Gutierrez
I'm sure they'll agree on anything that makes me give them my money.
Daniel Garcia
In the Trendon Shavers trial the SEC said that Bitcoin itself was not a security (tho the "Bitcoin Savings and Loan" or whatever the fuck he was selling) were.
Landon Martinez
the state is reinforced by an idea no one even knows about (Social Contract) so they can "legitimately" extort, racketeer, and blackmail property owners into surrendering their assets. the joos lose this time, since if what OP is saying is true, then we'd all be getting taxed for buying Leviathans in Eve Online since internet money from any sort of microtransaction imaginable is extrotable
Kevin Stewart
>Bitcoin is not a security. (((They))) can consider anything a security. And you will likely go broke trying to defend you position that it isn't.
The textbook case that they use in schools is an orange picking contract being a security. It sounds weird, but they consider it a security.
Landon Butler
Bitcoin has no issuer and therefore cannot be considered a contract. In the text of the Shavers case they even emphasize that it is a "virtual currency" with no "administrator, central party or authority".
(((they))) can only stretch their powers so far before the masses flip into a rage and start seizing government "property" paid for by their extortion and racketeering fees from us
Brody Martinez
Incorrect. At no point did the court explicitly state it was not a security. Check the PDF in the first link.
Gabriel Evans
You overly rely on the shaver case, which doesn't even state that Bitcoin isn't a security. At worst, it's agnostic on the issue. Read the first PDF in the OP.
Aiden Anderson
>expecting a normie revolt from SEC regulating neck beard Internet money
Sebastian Cruz
The first PDF emphasizes the point that Bitcoin is considered to be in the same category as the US dollar with respect to securities law, just as in the court document that I posted.
A security is necessarily a contract. A currency is not a contract.
John Johnson
It is a contract. You exchange money for it, you expect profits, its in a common enterprise, and profits are the result of a third party. This meets all requirements of a security under the Howe test. It's settled law.
Eli James
>Eligible whistleblowers are entitled to an award of between 10% and 30% of the monetary sanctions collected by the SEC and related law enforcement authorities. For more information, see:
>be me >report all pump and dumpers to SEC >never buy meme coins again >get paid by SEC >no capital gains tax >lambos thx to the gubmint
Adrian Williams
Exactly. Get paid and be one of the good guys. Just hit us up with some info that leads to a conviction and you get paid.
Jacob Reyes
you don't make guns illegal. You control it so your brainass child won't kill you in your neighbor. In europe guns are not illegal. But you don't see much shootings here, do you? Well, it's time to educate yourself. And stop worshipping guns like it's your better dick.
And the analogy to drugs is good. Many of them are not illegal per se. They are controlled. Not that anybody would want to drink that shit from burgerland.
Matthew Phillips
> claims Bitcoin satisfies the Howie test even though this is a category error > cannot provide any legal evidence Whatever lets you sleep comfortably, mate.
What "profits" come out of Bitcoin anyway? If you mean capital gains this is obviously insufficient for purposes of the Howie test, anything can be traded.
Levi Brown
>Just hit us up with some info >Just hit us up >us
WHO ARE YOU OP?
Anthony Lopez
Exactly, the test is extremely broad. Plus every crypto asserts it gains value as a result of technological advantages (segwit, storage with Sia, smart contracts, etc.)
Zachary Rivera
Ha, oops. I meant hit them up. The OP has a link to the SEC tips page.
James Johnson
Further, promises of "mooning" clearly imply more than normal asset appreciation. That's where the courts will look for the profits prong of the test.
Matthew Jones
I work as a terminal monkey for a pump and dump group, and they pay me shit. I'm going to send them an email and see if I can get paid.
Ryder Howard
They will look at Veeky Forums shitposting? That would set a fascinating legal precedent.
Benjamin Mitchell
>your brainass child won't kill you in your neighbor
Easton Young
SEC has used message board posting as evidence in pump and dump cases since the 90s. Well establishes precedent.
Chase Howard
I'm not aware of a single cryptocurrency that had "mooning" in their white paper. Are you?
Jaxson Clark
The pump and dump cases won't be brought against the development teams. It will be brought against the pump and dump groups that operate on "new social media" like here and Reddit.
Adam Hernandez
And those pump and dump cases caused the underlying asset to become a security even though it wasn't before?
Is there some other unrelated crime that can turn a security into a non-security?
This field of legal transmutation sounds like something we could make a lot of money pioneering..
Parker Parker
What pump and dump groups?
Bentley Reed
Nice try FBI.
William Kelly
Is /r/ethtrader a p & d group? They make memes about Ethereum mooning.
Connor Bennett
Hey SEC. What do you think of Muzzies.
Liam Cox
I'm not following your logic.
Cryptocurrency is a security. That's clear from the howey test, as described above.
Pump and dump schemes are illegal, and the SEC has jurisdiction if it can show there is a security.
The courts will side with the SEC here, I can assure you.
Aiden Nelson
Why hasn't the SEC arrested the people who hype AMD (an American regulated security) in places like Reddit?
Owen Martin
>Cryptocurrency is a security. That's clear from the howey test, as described above.
It's not. It's unclear to me that Bitcoin satisfies any prong of the Howie test, it's not even a contract so it can't be a security, and you keep asserting this while providing "citations" that bend over backwards to not make the claims you say they do.
> Pump and dump schemes are illegal, and the SEC has jurisdiction if it can show there is a security.
Ok, but P&D has nothing at all to do with classification of contracts as securities.
> The courts will side with the SEC here, I can assure you.
It usually does, but courtroom statistics have even less bearing on whether Bitcoin is a security than P&D schemes do.
Blake Martinez
If you pump and dump a security, the SEC will bring charges. Cryptocurrency is a security. You obviously don't want that to be the case, but unfortunately for you the courts are siding with the SEC here.
You clearly have some interest in this. I would suggest you become a whistleblower. You can avoid prosecution.
Lucas Perez
You keep saying "cryptocurrency is a security". Earlier in the thread you were pretending to provide evidence but you've stopped doing even that. Do you think just repeating it will cause it to become true?
James Parker
Oh, actually earlier you were saying "Bitcoin is a security", now you've even weakened that to "[some] cryptocurrency is a security".
Nathaniel Phillips
Who is pump and dumping securities in this board? Examples?
Nolan Rivera
Cryptocurrency is a security. It's sold as an investment. I've already walked you through the howey test (why do you keep spelling it howie?), but you ignore that.
Look, you want to argue your position as a defense against securities fraud, be my guest. But you will lose.
William Turner
Show me a securities fraud case that is happening in the board right now.. I'm waiting.
Easton Cruz
Samefag government troll trying to make it look like only retards disagree with the SEC.
Nolan Perry
Be my guest and prove that I am dumb. Show me a pump and dump case happening in this board as we speak.
Ryder Robinson
I'm not a judge. You can keep making this argument to me but I can't make sense of it and no judge has ever accepted it (despite your earlier false claims to the contrary), so it won't change anything.
Now you're moving past the definiton of a security to securities fraud ... who do you believe is guilty of securities fraud with respect to Bitcoin, a currency with no issuer or administrator?
Nathan Morris
Cryptocurrency is a capital asset (property) as defined by IRS in conjunction with CPA debates. This means section 1031 like kind exchange rules would likely apply for trading amongst crypto coins
Ian Lewis
>It's sold as an investment Is physical gold a security?
You're clearly in way over your head here. My assumption is that you're just trying to cloud the waters with misstated law so that your pump and dump targets don't get nervous. In fact we've seen emails detailing this strategy.
And I know you won't be able to resist responding. I assume you're getting paid to.
Ryan King
>In fact we've seen emails detailing this strategy.
I'll go back to school, but it's as your teacher you cuck.
Noah Wilson
>My assumption is that you're just trying to cloud the waters with misstated law so that your pump and dump targets don't get nervous
Ah, thank you, earlier you suggested I "had an interest" in Bitcoin not being a security and I couldn't figure out what this interest would look like. I infer now that you believe P&D schemes are legal if the underlying asset is not a security, and that I am involved in one using that as a legal pretext.
But to be honest, not one part of that even crossed my mind until your post.
> I assume you're getting paid to.
I wish. Maybe you could hook me up with one of the conspirators you think I am? If there's money to be made by posting on Veeky Forums I might as well take it..
Yeah? And neither is illegal you retard? I know you can't afford to buy half a bitcoin, but if you get a job you will.
Chase Sanchez
>deleted the post Real smooth, dipshit.
Matthew Hill
Wrong
Owen Jackson
Start with comets and pizza and you will be most wealthy.
Bentley Reyes
Everyone report OP to the SEC for impersonating one of their agents. They might have a reward for that. Ask to be paid in crypto.
Ryan Anderson
I've seen some P&D coiners talk about using discord to coordinate their activities on a few occasions.. someone may want to look into that :^)
Asher Rivera
>nothing in life comes free >the price this time around will be catastrophic >muh gains will turn into lawyer fees
Connor Rivera
>Exactly. Get paid and be one of the good guys.
Ryder Reed
Tfw this is all bullshit.
Kevin Torres
>controlled
Youre inventing fake words to defend a retarded position that is falling apart every day. How are those grenade attacks in Sweden doing
Adrian Taylor
Who exactly are you going to prosecute and how do you plan on shutting down a decentralized computer network?
Alexander Hernandez
Where were these threads last summer?
Oh that's right, "Bitcoin is dead" was still a meme
Now you've got butt hurt faggots like op and people buying altcoins praying the Bitcoin 2.0 meme will come true (pro tip it won't)
Sage
William Anderson
ΟP's dad (the SEC janitor) will get fired because of this. Everybody report him.
Noah Lewis
Not my countries laws. I know you Americans think you run the world, but you don't. Fuck off.
Kayden Jones
>tfw tfw
Christian White
> OP works for SEC >> OP implying SEC crackdown >>> Crypto panics >>>> Privacy alts go up >>>>> Exchanges get regulated >>>>>> Decentralized exchanges go up >>>>>>> Speeds up process of using crypto as money and not a fiat vehicle
Cheap coins imminent. Buy USDT and hold for a few months, jump in after SEC crackdown. Hold long term. Buy house with crypto.
Also I do hope this happens. Crypto needs a cleanse atm.
Jackson Perry
Orrrrrrr nobody says shit and everyone's fine nobody's gonna look through ip list and track niggas down stop being a snitch ass pussy bitch tired of you niggas how bout you join the pussy blower program u fucking faggot ur the type of niggas that need their ass beat
Adrian Thomas
Veeky Forums truly is the LARP board
Carter Evans
What I imagine when I read this shit
Landon Perez
Double double dubs.
Camden Ward
That's a ponzi case, not a securities case
What you're claiming to be generating profit from in a ponzi does not need to be a security for it be a ponzi
A ponzi is ponzi because you're paying out from earlier investors, while claiming these funds are from non-existent profits of the non-existent enterprise
Easton Ortiz
So like 90% of ICOs?
Jayden Morales
>nobody's gonna look through ip list and track niggas down
Cooper Price
Would have a better case that ICOs are ponzis than crypto are securities, but even then, no, as the ICO issuer doesn't payout to investors
Jayden Evans
Νο. ΙCOs are contributions. Gifts. You are not getting paid by what previous investors paid. Exactly because there is no promise of you getting paid back by the company at all. Whether the tokens appreciate in the secondary market or not, that is irrelevant to the issuing company.
Nathan Fisher
You don't get to make that legal determination, dumbass.
Christian Ross
This is not a legal determination. It's simple reading comprehension. If you are confusing completely different things, you need a teacher, not a lawyer.
Elijah Parker
So basically free money for whitepapers?
Jose Allen
Hey, I don't think that donating money to Twitch girls is illegal, why would it be illegal to donate money to starving programmers? Especially if you are a technology enthusiast.
Jack Johnson
Whether you are contributing money as a gift to these companies or buying an unlicensed security from them is for a judge to decide, not some faggot on Veeky Forums.
Lucas Sanchez
>A Ponzi scheme (/ˈpɒn.zi/; also a Ponzi game) is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities.
Even if you are buying an unlicensed security, there is no Ponzi scheme, because they are not gathering money to pay you back from previous investors. Which also makes it hard to argue that it's a security, if there are no dividents involved. It's just monopoly money that some nerds like to exchange for real money. Which is in fact the standing legal status of cryptocurrencies in most countries. Please, keep proving that being a nocoiner is a low IQ thing..
Jonathan Martinez
Yeah but what the fuck are these valuations.
Tesla had to have Elon raise his own $20 mil.
Meanwhile Bancor has $150m.
James Murphy
It's not illegal to be so beautiful that nerds from around the world want to shower you with money. Findom exists for a reason.
