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> Why do you say insider trading is legal for non-securities? What, exactly, prohibits you from doing that? Certainly not the Securities Act of 1933 or any SEC
by H8crilA 4y ago
> Why do you say insider trading is legal for non-securities?
What, exactly, prohibits you from doing that? Certainly not the Securities Act of 1933 or any SEC rule.
Overall maybe this is a complicated way of officially calling them securities and cleaning this mess on a higher level. At least that's what the FBI implies. However, it is not up to the FBI to decide what is a security, but rather up to the courts of law. This will be interesting.
- deleted 4y ago[deleted]
- JumpCrisscross 4y ago> Certainly not the Securities Act of 1933 or any SEC rule U.S. insider trading restrictions are creatures of common law. The ‘33 Act makes no mention of it. The same antifraud/antitheft theories enable prosecution of a Coinbase insider using their position to trade with advantage.
- theturtletalks 4y agoVegas uses insider knowledge for bets all the time and I thought it was allowed because betting slips aren’t a security.