United States SEC Fines BTC Trading, Corp for Unregistered Bitcoin Stock Exchange

United States SEC Fines BTC Trading, Corp for Unregistered Bitcoin Stock Exchange

The year-long investigation into BTC Trading, Corp has finally come to an end. BTC Trading, Corp was the company behind BTCT.co and litecoinglobal.com. Both sites offered . The SEC has fined BTC Trading, Corp. (BTCT.co) and Ethan Burnside for violating the Securities Act of 1933, the Securities and Exchange Act of 1934, and the Investment Company Act of 1940. Burnside is being fined $58,387 for the profits and interest that he generated as well as a penalty of $10,000. Like Satoshi Dice's founder Erik Voorhees, who was also fined by the SEC, Burnside is neither admitting nor denying the....


Related News

US SEC Fines Erik Voorhees For Unregistered Bitcoin IPOs

The Securities and Exchange Commission (SEC) of the United States today released a press release regarding Erik Voorhees and Satoshi Dice. The SEC has found that Erik Voorhees violated SEctions 5(a) and 5(c) of the Securities Act of 1933 with his unregistered Bitcoin IPOs. Earlier this year, the SEC launched an investigation into the online gambling website Satoshidice.com to inquire as to whether or not the company broke any American laws in its only Bitcoin IPO and subsequent stock run. The SEC’s investigation into Satoshi Dice was first revealed by Mircea Popescu of MPEx, the original....

The US SEC Fines Shipchain $2 Million for Conducting an Unregistered Token Of...

The US Securities and Exchange Commission (SEC) has issued a cease and desist order against Shipchain and ordered it to pay a penalty of $2.05 million. Additionally, the regulator has directed Shipchain, a shipping and logistics company, to transfer Ship tokens in the possession or control of the company’s directors to a “fund administrator.” Unregistered Token Sale In a statement announcing the cease and desist order, the SEC alleges that Shipchain, which “promoted its company and the ICO through various media,” raised $27.6 million from a pre-sale held....

This Is Why Kraken Plans To Support Stock Trading In 2024

Kraken, a regulated cryptocurrency exchange based in the United States, reportedly plans to expand beyond crypto by offering stock and exchange-traded fund (ETF) trading to clients in the United States and the United Kingdom. According to recent reports, Kraken has since created a new division called Kraken Securities to facilitate the development of this new service […]

SEC Fines Operator of Two Cryptocurrency Exchanges That Shut Down in 2013

Reuters reported Monday that Ethan Burnside, owner of BTC Trading Corp., was fined more than US$68,000 by the US Securities Exchange Commission as part of an agreement “to resolve claims that he did not register the exchanges.” BTC Trading Corp. was the parent company that operated the sites BTC-TC and LTC-GLOBAL, which were in operation from August 2012 through October 2013, Coindesk reports. “Burnside operated two online enterprises that weren’t properly registered to engage in the securities business they were conducting,” said Andrew M. Calamari, director of the SEC’s New York Regional....

With US regulators handing out $2.5B in fines since 2014, crypto is not the '...

A new report from Elliptic has found that unregistered securities offerings account for more than half of all crypto-related fines handed out by U.S. regulators. According to a report from blockchain analytics firm Elliptic, unregistered securities offerings represent more than half of all crypto fines handed out by U.S. regulators. In Elliptic’s June 21 Sanctions Compliance in Cryptocurrencies report, the firm's co-founder and Chief Scientist, Dr. Tom Robinson writes that U.S. regulators have handed out $2.5 billion in fines for crypto-related violations since 2014. Out of the total $2.5....