Quote from: NotLambchop on July 29, 2014, 08:43:32 PM

What falsehood did you discover in my post, specifically? Or do you just need to vent?

Quote from: jjdub7 on July 29, 2014, 08:34:42 PM

Quote from: sillywhim on July 29, 2014, 01:40:25 AM

Washington D.C., June 3, 2014 The Securities and Exchange Commission today charged the co-owner of two Bitcoin-related websites for publicly offering shares in the two ventures without registering them.
An SEC investigation found that Erik T. Voorhees published prospectuses on the Internet and actively solicited investors to buy shares in SatoshiDICE and FeedZeBirds. But he failed to register the offerings with the SEC as required under the federal securities laws. Investors paid for their shares using Bitcoin, a virtual currency that can be used to purchase real-world goods and services and exchanged for fiat currencies on certain online exchanges. The profits ultimately earned by Voorhees through the unregistered offerings totaled more than $15,000.

Voorhees agreed to settle the SECs charges by paying full disgorgement of the $15,843.98 in profits plus a $35,000 penalty for a total of more than $50,000.

All issuers selling securities to the public must comply with the registration provisions of the securities laws, including issuers who seek to raise funds using Bitcoin, said Andrew J. Ceresney, director of the SECs Division of Enforcement. We will continue to focus on enforcing our rules and regulations as they apply to digital currencies.

What you utterly fail to recognize is that the penalty is chump change for issuing unregistered securities anyway? Furthermore the SEC doesn't want to start a fight in the Supreme Court right now, which will happen in this scenario until they clarify crowdsourcing regulations set forth by the JOBS Act.

For once, you weren't the one I was arguing with. Wink