Blockchain-backed ‘New Wall Street’ Fined $20,000 by SEC
Sand Hill Exchange, a venture allowing investors to bet against unlisted tech startups using the blockchain, has been fined US$20,000 by the US Securities and Exchanges Commission (SEC). The exchange, which had previously also used Bitcoin as an internal currency, confirmed it was under investigation and was reverting to a previous, free version of its service in a blog post, now deleted. The post added that developers had “mapped out technology infrastructure to decentralize the exchange,” which resulted in a subpoena requiring all documents to be handed over. “We reached a settlement....
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