Question regarding the legality of pumping and dumping crypto-currencies.

[Cyrusis]

Hi all,

I'm interested to know whether or not there is a regulation on this aspect of crypto-currency? We of course know that Fontas ducked away recently, nobody really knows where he disappeared to.

If there are no direct regulations on something of this nature, then no legal action can ever be brought upon someone that is pumping and dumping, correct? And if those regulations arise at some point, then those who are pumping and dumping would receive a cease notice before any major action (arrest, fines, etc)?

Hypothetical example: A website opens up to allows private registration and initiates pump and dump events. Would this website have to worry about any legal issues?

This was just a conversation I was having with some colleagues. We thought it was an interesting topic.

Many thanks, checking back soon!

[Desensitizer]

I know that right now Bitcoins are too far off the governments radar for pump and dumps to be chased after. I'd assume further interaction with bitcoins will be necessary before they would begin to care about that sort of thing. In terms of cease and desist vs other harder legal action, I think that it would be a case by case basis that is very hard to predict as there are no current laws to deal with actions of this nature. I assume you would be fine.