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

[Principe]

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 Office...

http://cointelegraph.com/news/113081/sec-fines-operator-of-two-cryptocurrency-exchanges-that-shut-down-in-2013