Bitcoin Investments Are Securities, Texas Judge Says

By  |  August 7, 2013
 | 

A Texas federal judge ruled on August 7 that the Securities and Exchange Commission (SEC) can proceed with its lawsuit against Trendon Shavers, the Texas man accused of operating a bitcoin Ponzi scheme this July, Forbes reported.

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    Shavers disputed the charge, claiming that bitcoin investments were not “securities” under federal law, and thus did not lie within the SEC’s jurisdiction.

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    For more on what the ruling means for the bitcoin community, read the full report here.


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