BitShares Forum
Main => General Discussion => Topic started by: bitcoinerS on December 16, 2014, 07:35:52 am
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http://blogs.wsj.com/moneybeat/2014/12/08/bitbeat-sec-fines-another-seller-of-unregistered-bitcoin-securities/
"The Securities Exchange and Commission said Monday that it had sanctioned an Oregon man for running unregistered trading venues for securities that used the virtual currencies bitcoin and litecoin."
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"BTC Virtual Stock Exchange and LTC-Global Virtual Stock Exchange" ? I suppose they are some kind of centralised stock exchanges on crypto coins?
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BitShares got mentioned at the very end of the article. We literally got the last word :)
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http://blogs.wsj.com/moneybeat/2014/12/08/bitbeat-sec-fines-another-seller-of-unregistered-bitcoin-securities/
"The Securities Exchange and Commission said Monday that it had sanctioned an Oregon man for running unregistered trading venues for securities that used the virtual currencies bitcoin and litecoin."
The fines have been in the $10,000-80,000 range. For companies that made possibly millions of dollars maybe the risk from the SEC wasn't so high as people were saying.
If a company reserves $100,000 just in case they get fined then that is a defense plan which could work for those who are willing to take the risks. For everyone else perhaps the reward isn't worth the risk. Knowledge of the consequences makes risk assessment a lot easier.