SatoshiDice.com Bitcoin-Denominated Stock Sale Draws Ire of SEC

Written by:
Aaron Goldstein
Published on:
Mar/19/2014
SatoshiDice.com Bitcoin-Denominated Stock Sale Draws Ire of SEC

Bloomberg News is reporting that the Securities and Exchange Commission is conducting an investigation into the Bitcoin-denominated stock sale of the online gambling website SatoshiDice.com.  

The SEC sent a letter asking MPEx, an online exchange for Bitcoin-based trading, to provide contracts and other documents relating to SatoshiDice.com.

From Bloomberg News:

Mircea Popescu, the MPEx operator to whom the letter was addressed, confirmed its receipt in an e-mail to Bloomberg News and said MPEx hasn’t broken any laws. The letter lists SatoshiDice as the topic of the inquiry without specifying what rules are at issue.

Andrew Ceresney, the SEC’s enforcement director, expressed concerns over these types of investments during a conference in January.

“You can invest in those companies with your Bitcoin online,” Ceresney said at a January conference. “And so the question is, are those unregistered exchanges or broker dealers operating in violation of the securities laws?”

The anonymous digital currency is yet to recover from a series of events that have transpired in recent weeks that include the collapse of what had been the biggest bitcoin exchange, Mt.Gox.  High profile arrests of executives dealing in bitcoin were also widely covered in the national media.

- Aaron Goldstein, Gambling911.com

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