Originally published at: SEC fines Kim Kardashian for unethically pushing cryptocurrencies | Boing Boing
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That headline begs the question: is there even such a thing as an ethical way to push cryptocurrencies?
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SEC’s rules seem clear – it doesn’t have to be any good, but you do need to tell people you are being paid to say it is.
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I get it, the SEC is looking for specific violations, but my point is that whether or not you’re running afoul of the SEC rules I’m not sure that there’s any way to truly be “ethical” when hawking an inherently bad product.
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I’ve come to the same conclusion. It’s like being “ethical” when selling homeopathic “medicine” – the government can require all kinds of labels and disclaimers to be slapped on the bottle and prosecute shills like Kardashian when they don’t follow the laws, but it’s still unethical no matter how you look at it.
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@jlw , FTFY.
Security and securities have different meanings in this context.
The guy who sells Lifelock subscriptions on TV is hawking security. (Also in an ethically-free fashion, but that’s beside the point.)
And when referring to cryptocurrencies, “insecurities” might be even more apt. Crypto isn’t backed, meaning there is literally no security behind their numbers.
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