The US Securities and Exchange Commission (SEC) has issued a cease-and-desist order against the Bitcoin Investment Trust (BIT) and its authorized participant SecondMarket, the latter of which has been ordered to disgorge roughly $50,000 in a settlement with the agency.
Originally established by investor and Digital Currency Group CEO Barry Silbert when he was CEO of SecondMarket, the BIT, now managed by Digital Currency Group subsidiary Genesis Trading, creates and redeems publicly listed shares tied to the value of bitcoin holdings held by the trust. The BIT is traded on the OTCQX market.
http://www.coindesk.com/bitcoin-investment-operator-50000-settlement/
Topic: [2016-07-12]Bitcoin Investment Trust and Genesis Trading Settle Charges With SEC (Read 336 times)
July 11, 2016, 07:12:45 PM
Jump to: