As bitcoin nosedives, regulators said to be investigating whether it was propped up illegally. by melip

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· @melip · (edited)
$0.24
As bitcoin nosedives, regulators said to be investigating whether it was propped up illegally.
## This can Open A Pandora Box Either in Support or  Against Cryptocurrency.......
https://cdn.steemitimages.com/DQmXYCt6bGDdHjuSKTrQ4aLn3Hq4y7rUeJA8ZBXVovzD5CA/C7541962-9DBA-4C01-A46A-8F88D974D606.jpeg
- The U.S. Justice Department is reportedly looking into whether traders used another cryptocurrency called tether to bid up bitcoin prices during its 1,300 percent rally last year.
- Federal prosecutors launched a broader criminal probe into cryptocurrencies earlier this year but now suspect that traders on crypto exchange Bitfinex may have been moving prices illegally, Bloomberg reported, citing three people familiar with the matter.
- The news comes amidst bitcoin’s 16 percent price drop on Tuesday.
## This can be the “perfect excuse” to either BAN or LEGALIZE Cryptocurrency in the near future.

[Please Read More Here](https://https://www.cnbc.com/2018/11/20/regulators-investigate-whether-bitcoin-price-was-propped-up-illegally.html)
https://cdn.steemitimages.com/DQmSgEpFn5Mp4ZNNAd24usRjxBTQWm1GZ1JauUqPdvB4RVg/1F650975-B254-4D86-B46D-92AD21A11CB6.jpeg
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vote details (96)
@bmanmcfly ·
The issue is that cryptocurrencies have no built in protections against pump and dump schemes....
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@baah ·
What has any such protections?

I don't think that the apparent fraud of teether is simply pump and dump, it shares certain characteristics to a Ponzi scheme which is what I think the fraud resembled if indeed that's what happened.

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@steven-patrick ·
Yikes I think this is lose - lose
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@melip ·
Yeah. It stinks 😤
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@hendryck ·
Good!
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@blazing ·
Well the manipulators will now fear doing that
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@vimukthi ·
As usual they don't want to let a good crisis go to waste. A dip and successive rounds of legal assaults is just a front to get a foot in the door for regulations like what they did to the tech industry in early 2000s. We should e free to do our P2P transactions without the Mafia dropping into take a cut

https://www.youtube.com/watch?v=0HfJ7km_SxU
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@baah ·
The issue I think is Fraud, it seems that it was perpetrated by those in positions of trust/power in these exchanges through the scheme of Teether, indicative by the lack of transparency over how the coin is pegged to the dollar or minted. It might serve as a springboard for actual regulation of these exchanges yet it will be completely futile to affect dex, let alone bitcoin itself.

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@nutritree ·
Another fake investigation while real crime against humanity go unpunished. Just ask Hitlary. They need something to do to make themselves look good. 

Posted using [Partiko Android](https://steemit.com/@partiko-android)
👎  
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