3 ms·
Is the Nyan Cat a security?
by xur17 6y ago
Is the Nyan Cat a security?
- rmorey 6y agoIANAL so I'm probably misusing the term. But it definitely feels like buying and selling the asset secretly to inflate it's market value is some sort of fraud
- eljee 6y agoIt's called wash trading and for securities, it is illegal. I dont think the Nyan Cat NFT is a security. Its more like a commodity. And yes, wash trading and money laundering via art is an age-old practice.
- xur17 6y agoMy point was that the Nyan Cat NFT likely isn't a security, and hence wash trading might not be illegal.