U.S. Congressman Warren Davidson Says Digital Asset Uncertainty Enables Pump-and-Dump Scams
Warren Davidson said the lack of clarity over whether digital assets are securities allows market manipulation schemes to keep operating in crypto markets.
Summary
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Terms & Concepts
Securities: Financial instruments subject to investor protection and disclosure rules under securities law.
Pump-and-dump scam: A market manipulation scheme in which promoters inflate an asset’s price before selling into the rise.
Digital assets: Blockchain-based assets such as cryptocurrencies or tokens traded on digital markets.