SEC Fines Entrepreneur For Unregistered Bitcoin IPOs

HFA Padded
Published on
Updated on

Regulators may not have settled on exactly how they want to deal with digital currencies like Bitcoin, but the rules governing the rest of the financial system still apply. The Securities and Exchange Commission charged Erik T. Voorhees, the owner of two bitcoin-related websites, of offering shares in his companies without registering them first. He has settled the SEC charges by paying full disgorgement of the profits, a bit more than $15,000, and a $35,000 fine. “All issuers selling securities to the public must comply with the registration provisions of the securities laws, including issuers who seek to raise funds…

This content is exclusively for paying members of Hedge Fund Alpha

Log In

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!