Re:Tesla has suspended vehicle purchases using Bitcoin
by godelski on Wednesday May 12, 2021 @08:24PM
(#27136918)
Honestly, when is the guy going to get charged by the SEC for market manipulation? It is fairly obvious he knows what he is doing with the crypto market and making a good chunk of change on it through his social media influence. But he also does it with Tesla (I know he got charged that one time but he's been a repeat offender).
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Re:Tesla has suspended vehicle purchases using Bitcoin
by aeternum on Wednesday May 12, 2021 @08:33PM
(#27136988)
Bitcoin is not a security nor a protected commodity market, so does the SEC even have jurisdiction?
McAfee was arrested for pumping crypto, but he was lying about his ownership and gave pretty specific forward looking claims. I don't believe he's been convicted yet.
Re:Tesla has suspended vehicle purchases using Bitcoin
by HWR_14 on Thursday May 13, 2021 @12:01AM
(#27138248)
Bitcoin is regulated in the US under both the Commodities Futures Commission and the Securities Exchange Commission. These tend to be fairly narrow rules about contracts for arbitrage, know your customer rules, etc. I have no idea if they have authority over pump-and-dumps
Re:Tesla has suspended vehicle purchases using Bitcoin
by gpm on Wednesday May 12, 2021 @08:45PM
(#27137091)
It's not illegal to buy a stock and tell people you bought it. There are entire businesses whose model is "make an investment, and then tell other people why you made it hoping they will make the same one". This isn't criminal, it's good business practice.
The thing he got in trouble for with Tesla was for lying about about a takeover offer, which is criminal, basically because it's a type of fraud. This isn't that.
Not a lawyer, not legal advice, etc.
Re:Tesla has suspended vehicle purchases using Bitcoin
by godelski on Wednesday May 12, 2021 @09:01PM
(#27137243)
It sure is illegal to say "the stock of the company that I'm the CEO of is too high."