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For that to be true, that coin needs to abide to the same laws as real currency. If I say that "1 dollar = 1 virtual thingy" and suddenly there are a lot of vi
by frostwarrior 4y ago
For that to be true, that coin needs to abide to the same laws as real currency.
If I say that "1 dollar = 1 virtual thingy" and suddenly there are a lot of virtual thingies and their price fall, then what's the crime aside me personally being a lying f*ck that can´t be trusted anymore?
I don't see how "legitDollarCoins" is legally more legit than, say, lootboxes.
- encoderer 4y agoYou don’t need a crime to sue somebody. You need a tort.
- dragontamer 4y agoTurns out that lying to people on a large scale is a crime named 'Fraud'.
- bb88 4y agoIt's a security and is regulated as such. So SEC, torts, etc. In this case if you're marketing $TOKEN as a stablecoin and there's no resources to back it up then it's literally a $PONZICOIN. $USDC might be okay, I know they've made moves to back their coin in dollars and treasuries.
- mschuetz 4y agoIt's simply fraud. There are laws against fraud.