It's true that forum celebrities or forum administrators may not have as significant an impact on the market as some well-known celebrities, however, that doesn't mean that the activities carried out within the forum are completely off the radar of the SEC.
The SEC is tasked with protecting investors and ensuring the transparency of financial markets, including those related to cryptocurrencies. If there is evidence of market manipulation or violations of financial securities laws, the SEC can step in and take legal action.
I think Bitcoin will become the SEC's number one issue very soon and they won't know how to fix it.
Topic: Legal side to promoting bitcoin. - page 2. (Read 202 times)
I can't believe they've made it unlawful to talk about cryptocurrency (even shitcoins if easy profit prevails) if you don't disclose the amount of your money. What's the reasoning? Just because Elon Musk, Kim Kardashian, Dwayne, Messi, or whoever celebrity else, is financially bonded with a cryptocurrency, so what? You know regulators should someday consider the fact that pump 'n dump victims are also responsible for their inclusion in shit-tokens.
I think there's some sense to this. Most of the time they advertise shitcoins that wouldn't really go anywhere had it not been for the fact that they are advertised or sponsored by these influential entities. In a sense it looks like manipulation with extra steps so it is quite justified for SEC to go after these people. On the other hand you are right, it's like the government is stripping people, and celebrities for that matter of the right to be able to express what they want to express sponsored or not. Like if the situation was changed and these people were advertising idk, Mcdonalds? Will the government go after them? No, not really?
You can get in trouble with the SEC as a forum member with celebrity status for promoting cryptocurrency on your social media, but not in trouble with them for promoting just bitcoins. There is a scary SEC rule- that
Quote
it is unlawful for any person to publish or give publicity to crypto assets without disclosing the amount they were paid for the promotion.
That is it in a nutshell. If you push a stock or a lot of things you have to tell people if and if so, how much you are getting paid to do it.
If nobody is paying you it's a different thing, but if you are then there are rules you have to follow.
I don't know why people think it's such a big deal, it's been that way for a very long time.
-Dave
Yep, It really is a mess up to see them chase every user on forums promoting altcoins. What sort of popularity would they consider a celebrity status?
If they are then probably the hiring of the 85000 IRS agents is meant to find those celebrity users. But like mindrust said, it's just too much work, I doubt this is happening. And what about the users that are outside USA?
If they are then probably the hiring of the 85000 IRS agents is meant to find those celebrity users. But like mindrust said, it's just too much work, I doubt this is happening. And what about the users that are outside USA?
EthereumMax is a shitcoin. Why should celebrities have any reason to promote a shitcoin? I mean think about it. If you were a celebrity, would you accept an offer to promote some Chevrolet model that has a high tendency of breaking down in the middle of the highway, when there are so many better car brands to promote out there? (Not to mention pay better)?
I can't believe they've made it unlawful to talk about cryptocurrency (even shitcoins if easy profit prevails) if you don't disclose the amount of your money. What's the reasoning? Just because Elon Musk, Kim Kardashian, Dwayne, Messi, or whoever celebrity else, is financially bonded with a cryptocurrency, so what? You know regulators should someday consider the fact that pump 'n dump victims are also responsible for their inclusion in shit-tokens.
Nobody gives a damn about any forum celebrities as far as I am aware. The SEC goes after people like Kardashian because these people can affect hundreds of thousand of people with a tweet of theirs. The most famous forum celebrity or even the forum admins can't affect that many people and therefore the SEC won't give a shit about what we say here. Thousands of people shill shitcoins on every dark corner of the internet. Do you expect the SEC to go after all of them? Nope. It is not happening. Shilling crypto is not a crime.
You can get in trouble with the SEC as a forum member with celebrity status for promoting cryptocurrency on your social media, but not in trouble with them for promoting just bitcoins. There is a scary SEC rule- that
Jake Paul, Lil Yachty, Soulja Boy, Ne-Yo, Akon, Austin Mahone, Lindsay Lohan and Kendra Lust got into trouble for promoting Tronix (TRX) tokens a securities offered by Tron Foundation Limited. (News report)
Paul Pierce from the NBA got into trouble for promoting EMAX tokens, a securities offered and sold by EthereumMax. EthereumMax does not have any relationship with Ethereum. (News report)
Kim Kardarshian got into trouble for promoting Ethereum Max tokens (News report)
Floyd Mayweather and DJ Khaled got into trouble for promoting ICO's. (News report)
Do you know any celebrity that has gotten in trouble for promoting bitcoins?
Quote
it is unlawful for any person to publish or give publicity to crypto assets without disclosing the amount they were paid for the promotion.
but I think this rule applies to "securities" and since the SEC considers bitcoin a "commodity", Quote
U.S. Securities and Exchange Commission Chair Gary Gensler has reiterated his claim that bitcoin (BTC) is a commodity.
I do not think it is applicable. sourceJake Paul, Lil Yachty, Soulja Boy, Ne-Yo, Akon, Austin Mahone, Lindsay Lohan and Kendra Lust got into trouble for promoting Tronix (TRX) tokens a securities offered by Tron Foundation Limited. (News report)
Paul Pierce from the NBA got into trouble for promoting EMAX tokens, a securities offered and sold by EthereumMax. EthereumMax does not have any relationship with Ethereum. (News report)
Kim Kardarshian got into trouble for promoting Ethereum Max tokens (News report)
Floyd Mayweather and DJ Khaled got into trouble for promoting ICO's. (News report)
Do you know any celebrity that has gotten in trouble for promoting bitcoins?
Jump to: