SEC charges bitcoin entrepreneur over securities sales

June 3 Tue Jun 3, 2014 11:13am EDT

June 3 (Reuters) - The co-owner of two bitcoin-related websites has agreed to pay nearly $51,000 to settle U.S. Securities and Exchange Commission charges he publicly offered shares in the two ventures without registering them, the regulator said on Tuesday.

Erik Voorhees published prospectuses online and solicited investors to buy shares in SatoshiDICE and FeedZeBirds, paying in bitcoin, without first registering the offerings as required under federal law, according to the SEC.

Voorhees agreed to settle with the SEC by giving up $15,844 in profit and paying a $35,000 civil penalty. He did not admit or deny the charges in agreeing to settle. (Reporting by Jonathan Stempel in New York; Editing by Jeffrey Benkoe)

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