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For some nuance, though, partly this has to do with lack of SEC enforcement on crypto as a security. My opinion then would have been that this should be insider
by tyre 4y ago
For some nuance, though, partly this has to do with lack of SEC enforcement on crypto as a security. My opinion then would have been that this should be insider trading, crypto should be classified as a security, and also that I wasn’t sure the SEC would classify this as insider trading.
Since the definition of insider trading is kind of, “whatever the SEC enforces”, it’s possible to believe that this is a security that was insider traded and also that it’s not “insider trading” in the only meaningful way (the SEC way.)
- game-of-throws 4y agoYeah I was about to say something similar. Our existing insider trading laws don't quite fit this situation, which is why they're being charged with "wire fraud conspiracy" instead of something more specific.
- deleted 4y ago[deleted]
- JumpCrisscross 4y ago> the definition of insider trading is kind of, “whatever the SEC enforces” Insider trading is a crime. The SEC cannot bring criminal complaints. Every insider trader who has gone to jail was prosecuted by the DoJ.
- 3np 4y agoAccording to SEC: https://www.investor.gov/introduction-investing/investing-basics/glossary/insider-trading https://www.investor.gov/introduction-investing/investing-ba... FBI: https://www.fbi.gov/news/stories/insider-trading https://www.fbi.gov/news/stories/insider-trading Only talk about securities. It seems to me as if it would depend a lot on if the digital asset(s) in question count as securities or not.
- 1jbdg 4y agoNope, insider trading is a type of fraud, they’ll be charged with wire fraud and the question on securities will never arise
- thomasjudge 4y agoThe already have been as the DOJ press release states. Also the SEC is filing a civil case, as they do