Pump Group is it legal?
- Thread starter araqueli
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- binance bitcoin pump and dump
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Technically, it isn't as bitcoin and cryptocurrencies aren't regulated as of yet. As long as there's no government regulation it is not illegal.
But I still wouldn't advise it. Firstly, you'll most likely be the pawn of the P&D group. Also, you can never be sure if exchanges do decide to intervene one day (though, again, unlikely).
Frankly speaking, there's a childish idiom for this, "do anything you like as long as you don't get caught." Even pink sheet penny stocks that are listed in NASDAQ are still susceptible to P&D. If you've received any penny stock newsletter scams you will know what I mean. As long as the SEC or exchange aren't aware of it, you're safe. Still, I wouldn't recommend it. Avoid it.
But I still wouldn't advise it. Firstly, you'll most likely be the pawn of the P&D group. Also, you can never be sure if exchanges do decide to intervene one day (though, again, unlikely).
Frankly speaking, there's a childish idiom for this, "do anything you like as long as you don't get caught." Even pink sheet penny stocks that are listed in NASDAQ are still susceptible to P&D. If you've received any penny stock newsletter scams you will know what I mean. As long as the SEC or exchange aren't aware of it, you're safe. Still, I wouldn't recommend it. Avoid it.
- Mar 21, 2013
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If you make it subtle and call it something different while still pumping and dumping, that's what real world banks do all the time with real world assets.
It's been 10 years since banks did their last big dump and not a single banker was ever punished.
It's been 10 years since banks did their last big dump and not a single banker was ever punished.
- Jun 30, 2014
- 13,755
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Pretty sure artificially inflating the price of any asset/commodity for the purpose of profiting is illegal. But would you actually be caught and prosecuted.... I'd be very surprised if so. Although the morals that's another question...
Alexpaberla
Junior Member
- May 17, 2017
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Whaaaat ? How The **** that Could be legal ? Tehnical you promote a coin , and if The coin is Same Like Bitconect ? You promote something scam and that is ilegal When you do that , promoting scam coins is ilegal
Btw be carreful in my opinion
Btw be carreful in my opinion
Again, all cryptos are currently unregulated and not classified as commodities etc. thus none of the current laws apply. Some of the recent news were related to promises of XXX% return of money, yet that money was never invested and thus a scam. As long as you do not guarantee anything in particular there would be no applicable law at this point.
As always, no legal advice only my opinion
Not familiar with all countries but so far none of the cryptos fall in the categories which would make this illegal in most countries. Again just my opinion
Alexpaberla
Junior Member
- May 17, 2017
- 181
- 40
Depend on wich country you do that , you promote something that Could be a huge scam
Yes I know, depends on which exchange you choose, the coin, how many ppl follows you and your personal investment as well as your partners money
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