Q: How is promoting BTC and coins at peaks or any other non crypto type of stocks/bonds assets ect. not considered illegal?
Like wouldn't that be using influence (i.e. it's "social investment platform") to promote something that itself is going to profit off of while selling to these individuals it's actively promoting too?
Edit:1 how is it imaginary and not the dollar as well? As it is fiat, itselfs value is imaginary. Its value is how much the users imagine its equivalent real world worth in goods, labor, and services are.
A:
Legal scholar Eric Posner has commented, "A real Ponzi scheme takes fraud; bitcoin, by contrast, seems more like a collective delusion."
Bitcoin, like all cryptocurrency and now NFTs, isn't a tangible thing. It's more like the number of gold pieces a character has in a game of Dungeons & Dragons. It's imaginary. Writing it down on an index card or tallying it as data in a computer program doesn't change its fundamental character as something that is imaginary.
But as these virtual investments have been attracting popularity and people have started spending real money on accumulating this imaginary currency, and some people have started bartering real tangible goods and services for more of this imaginary currency, regulators have been taking a hard look at whether and how to regulate them to prevent unscrupulous individuals from taking advantage of others. The counter-position is it's not "real" and everyone knows its not "real," so why should real world law enforcement care if some people want more imaginary currency?
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