Erik Voorhees: Selling Unregistered Securities is a Made up Crime

Erik Voorhees: Selling Unregistered Securities is a Made up Crime


Erik Voorhees, the CEO and Founder of non-custodial exchange Shapeshift, plays down the severity of selling unregistered securities.

Speaking about the time when the Securities and Exchange Commission (SEC) charged him for publicly offering shares without registering them, Voorhees said:

“it was a total garbage non-crime and I had to deal with them for close to a year, spent hundreds of thousands of dollars on lawyers, and ultimately had to settle with them for fifty grand for the crime of building a company that people wanted to invest in and making the investors a bunch of money.”

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SatoshiDICE was launched by Voorhees in April 2012 when Bitcoin was under $10. The website lays claim to being the oldest Bitcoin dice game in the world. As the name suggests, it offers users the chance to bet on the roll of dice using Bitcoin.

Voorhees sold the

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