SEC Making Inquiries Into MPEx, SatoshiDice
The US Securities and Exchange Commission (SEC) is investigating bitcoin securities exchange MPEx and gambling site SatoshiDice, according to an email exchange posted online yesterday. The news could have implications for other bitcoin equity exchanges and the people investing with them, especially if they are US residents. Dealing only in bitcoin, the platforms function otherwise as unregulated stock exchanges and usually do not require any identification from users. A SEC representative sent an email request to MPEx operator Mircea Popescu of Romania. Popescu, known as 'MP' to the....
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MPEx founder Mircea Popescu says SatoshiDice did nothing illegal. Online gambling website SatoshiDice.com is undergoing an investigation to determine if the company broke any U. S. laws by having a Bitcoin-denominated stock sale. The Securities and Exchange Commission (SEC) believes this may be in fact illegal. Not like ordinary money. The Securities and Exchange Commission contacted MPEx, an online exchange for Bitcoin-based trading, asking them to provide contracts and other documents relating to SatoshiDice.com. This was seen in a copy of the request that was posted on the website....
Blockchain-based betting game SatoshiDice has been sold for 126,315 BTC, which at the time of writing was worth around $11.47 million. SatoshiDice (S. DICE), which claims to be "the most popular Bitcoin betting game in the universe", was launched by its operator Erik Voorhees in late April 2012. The company's shares have since been traded on MPEx, the Romanian Bitcoin securities exchange. Yesterday evening (17th July), Voorhees announced the sale of the company, stating: "I believe this to be a solid, desirable, and fair outcome for those who have put their trust in S. DICE." This is....
Moreover, it does not appear as if any of the platform's investors have made a complaint about their money being used to pay out winner earnings. Bitcoin and gambling are two peas in the same pod. One of the more popular bitcoin gambling platforms goes by the name of SatoshiDice. However, it appears this service is no longer operational for some unknown reason. One user mentions how the platform also stole investor funds, although that’s not been officially confirmed as of right now. It is never good to see platforms such as SatoshiDice suddenly rebrand without much of a warning. The....
The owners of SatoshiDICE are launching a new game, called SatoshiDICE Tribute. The new site will conduct its transactions off the block chain, say the owners. It is still not publicly known who purchased the original SatoshiDICE site from Erik Voorhees in July for 126,315 BTC, but a representative said that the firm was adding enhancements into the new game. It will include session-based accounts and a developer API, they told CoinDesk. "Casinos that haven't integrated bitcoin are really doing their players a disservice. They might as well take down their website and offer bets via....
Citing legal advice, Bitcoin gaming site SatoshiDice is closing to US players, moving to block all US-based IP addresses from the website. Posting on Bitcointalk and the Bitcoin reddit page, satoshidicepr, an official representative of the site who asked to remain anonymous, said the decision, which is effective as of today, was taken following "extensive legal counsel." "The best way to limit legal risk for SatoshiDice, and thereby protect its stakeholders, is to block US players," the post states. The company adds that the decision does not mean that online gambling is illegal in the US,....