The conspiracies in cryptocurrencies market not criminalized …the truth and the facts
“I think the number of these people is in the hundreds, and it is possible that they are communicating with each other, and most likely they have already done so,” said Kyle Samani, the managing partner at Multicoin Capital. .
According to Gary Ross, a securities attorney at Ross & Shulg, some forms of information sharing in trading is not against the law, and because Bitcoin is a digital currency and not a type of Securities, there is no ban against trading operations in which a group of people agree to buy a currency enough to raise its price and then sell it again after a very short period.
The efforts made by the regulators to keep up with the cryptocurrency trading operations are very slow, so many of the laws related to these currencies are still unclear, and if traders of these currencies not only raised their prices but also spread rumors about them online, this may be considered a fraud.
Cryptocurrency trading platform Bittrex recently sent a warning to its users that their accounts could be suspended if they collaborated together to create “pressure groups” to manipulate prices.
According to the U.S. Securities and Exchange Commission, laws may differ for each digital currency, some of which may be considered actual cash based on the details of how it is regulated and how investors expect to make money from it.
In response to a question about the possibility of those who own large amounts of digital currencies cooperating with each other in trading operations, Roger Ver, one of the first known investors in the world of bitcoin, said in an email: “I think this is what happens on Most likely, it is natural for people to have complete freedom to dispose of their own money, but for me, I didn’t have the time to do such things. ”