Hi all. The US government is trying to investigate pump n dump in Crypto. Give me a break. What are they going to do, charge the blockchain foundations for what individual traders doing around the world??? They're going to force other sovereign citizens of other countries to follow their law? Even though if going to the US, they deport you for being an illegal alien.
Pump n Dump in Cryptocoins is just part of the landscape. Each traders have to realize when it's happening. Before the April's tax season, a single news would bring certain coins up or down.
Wall Street security laws are the dinosaur age. We are starting to live in a world wide world that is wild and dangerous as the animals of the wilderness are. Yes, human nature of the world are like animals. To all that, meshed up in a trading market as crypto and each ones or groups must use their powers of perception and negotiation in trade to realize what is going on and to see if a crpto company or foundation is up and up. You can't necessary just fine some of the cryptocoin foundations without hurting the investors. That is the weirdness and uniqueness of Crypto. Most foundation do not totally control the coins. There are few crypotcoin that are controlled by companies, but that can be an exception. Even then, if the blockchain has been running for a time, they don't have a network control of all the coins out there without a consensus. Remember they need a consensus of over 50% or probably more of the coin's network, to change things.
So how are you going to fine a coin without the investors??? Instead they can take away the trader's coins via wallet or shutdown the individual or group access to their e-wallet or completely shutdown the blockchain of the coin. They can also create laws of their jurisdiction as in China to try to force their citizens to do what they want.
** Disclaimer This blog is based on my opinions. I am not giving professional advice. Anything written here should be taken as an opinion and is the responsibility of the reader to take due diligence as such. Basically saying I may be wrong, right or neither, just saying its my opinions and my voice.