Skycoin CEO admits to insider trading, the SEC informed

Skycoin CEO admits to insider trading, the SEC informed

It seems that the head Skycoin “in big trouble”. The Commission on securities and stock exchanges of the USA has sent its gaze in his direction, after it became known about the price manipulation of the project team with the coin.

Twitter user Jared Dunn has provided the public a two-minute audiotape on which the Director-General Sint easily admitted in a clearly illegal and unprofessional conduct in the cryptocurrency space.

The entry caused outrage in the community. Tweet could read:

“The Executive Director of the Sint admitted to knowing about the current insider trading involving his team and the admins Telegrams channel. It was obvious, as the listing skycoin on Binance a growth was followed by a powerful dump. Obvious insider trading Sint was aware of it”.

Some Twitter users such as @ Mendozza1978, expressed their anger, giving to understand that the Telegrams-channel Skycoin has a pretty dark past: “no Wonder they told me not to ask questions. Telegrams-channel @Skycoinproject long been poisoned by the fears and rumors of fraud.”

We remind you that illegal activity of this kind is severely punished on wall street.

As already mentioned, the Skycoin holders began to Express their dissatisfaction on Twitter and Reddit. AS_Empire [ S ] Reddit notes:

“This is the information that is of great interest to the SEC. Pure idiocy to not only participate in this, but openly talk about organized pump and dumps Skycoin”.

Law firm Morrison Cohen LLP, which specializiruetsya in litigation and regulation related to securities, commodities and crypto-currencies in February issued a warning:

“The law on insider trading is quite complicated, and creating a regulatory framework for cryptocurrency trading only increases its complexity. Therefore, the market of cryptocurrency products thrives insider trading. Traders, especially the insiders, must be careful in their actions. Good legal advice is expensive, but a criminal prosecution from the Ministry of justice may in the end cost much more.”

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