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> All of this reveals a surprising lack of sophistication in the approach taken by both Tesla and Musk. Unless it was a pump and dump scheme. Granted, he says
by bun_at_work 5y ago
> All of this reveals a surprising lack of sophistication in the approach taken by both Tesla and Musk.
Unless it was a pump and dump scheme. Granted, he says they won't be selling it until later, but they can just say they've decided it'll never be viable later, then sell it. This tracks with your statement that mining transactions using more sustainable energy doesn't make sense.
Since crypto isn't regulated by the SEC, it seems like leveraging Tesla for a pump and dumb to generate capital is _not illegal_.
- toomuchtodo 5y agoCrypto that is considered securities (by meeting the Howey test) is regulated by the SEC. Crypto that is treated as a commodity is regulated by the CFTC.
- kristianp 5y agoAs far as I know all crypto is considered securities by the IRS.
- deleted 5y ago[deleted]
- toomuchtodo 5y agoThe IRS treats crypto as property in general, not a currency. That’s why there are capital gains or losses with each transaction. https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies https://www.irs.gov/businesses/small-businesses-self-employe...