SEC Fines Defunct Bitcoin Exchange Operator $68,000.

The operator of 2 unlicensed digital currency exchanges has been purchased to pay more than $ 68,000 after a lengthy examination by the US Securities and Exchange Commission (SEC), the country’s top securities regulator.

Ethan Burnside was 100 % owner and operator of BTC Trading Corp, moms and dad business of platforms BTCT Co and Litecoin Global Exchange (LTC Global) from August 2012 until trading and account activity stopped in October 2013. The quantity Burnside will certainly pay amounts to all revenues he made from the exchanges, in addition to the fine.

Burnside cooperated with the SEC examination and accepted settle the case by paying $ 58,307.07 in disgorgement and pre-judgment interest, plus a penalty of $ 10,000. He is likewise prohibited from working in the securities market for two years, after which he will be able to re-apply to carry out business in the sector.Continue reading

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