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SEC Might, Might Not Be Doing Its Job Vis-à-Vis Bitcoin

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There are things at which the Securities and Exchange Commission should probably have a look. Like, say, the unregistered issuance of securities by companies dealing in fake currencies. You know, just a gander, if for no other reason than to demonstrate that they’re expected to follow all of those boring, stupid rules they hate so much. And so they have! Or perhaps not.

Co-founder Evan Wagner said Counterparty had not received any letter from the SEC and that he and his colleagues were unaware of any being received by other firms using its software. Either way, he said, Counterparty is not responsible for the actions of these third-party firms….

BitBeat received similarly confident assurances from other prominent Bitcoin 2.0 companies, which seek to facilitate decentralized, middleman-free commercial enterprises.

Perhaps certain octogenarians have played a hand in this relatively free hand….

Arthur Levitt, the longest-serving chairman of the Securities and Exchange Commission, is joining the advisory boards of two bitcoin-focused companies….

“The intellectual firepower behind [bitcoin] enterprises is astonishing,” Mr. Levitt said. “But I think in terms of compliance and regulations, they are relatively immature.”

BitBeat: Bitcoin 2.0 Companies Respond to SEC Rumor: We’re Clean [WSJ MoneyBeat blog]
SEC Begins Sending Out Investigation Letters [CoinFire]
Ex-SEC Chairman Levitt to Advise Two Bitcoin Companies [WSJ]


(Getty Images)

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