Erik Voorhees: Selling securities off the record is a fabricated crime

Erik Voorhees, founder and CEO of the off-custody exchange Shapeshift, underestimates the seriousness of the sale of unregistered securities. Speaking about the Securities and Exchange Commission (SEC) accusing him of offering his shares to the public without registering them, Voorhees said the lawyers were worth thousands of dollars and eventually had to settle for fifty thousand dollars for running a business. Build what people want to invest and get a lot of money for investors. Voorhees talks about the "terrible" SEC haunted experiment SatoshiDICE was launched by Voorhees in April 2012 when Bitcoin went below $ 10. The website claims to be the oldest Bitcoin dice game in the world. As the name suggests. gives users the option to bet with Bitcoin when the dice are rolled. Voorhees sold the site in July 2013 for 126,315 BTC, or $ 11.5 million, making it the largest acquisition by crypto companies at the time. In particular, the transaction resulted in Bitcoin. However, all this caught the attention of the SEC. Following an investigation, in June 2014 they accused Voorhees of offering their shares to SatoshiDICE and another company, FeedZeBirds, without requiring securities laws, Voorhees paid a profit of $ 15,843.98 and a fine of $ 35,000. Ident admits that seven years later, Voorhees is still suffering from what happened. While he admits that well-intentioned people work in government agencies, he continues to believe that their overall effect is negative on "good people" who do "good things". “Before that I was definitely not a fan of the government, and after that I came to the conclusion that these regulators were even more, I understand that most of them have good intentions, but I think a large part of the impact is detrimental to them. Good people are trying to build something good. Read more

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