[2015-06-19] Bloomberg: Bitcoin Bucket Shop Kicks Bucket

[aso118]

Bitcoin Bucket Shop Kicks Bucket

http://www.bloombergview.com/articles/2015-06-19/bitcoin-bucket-shop-kicks-bucket

Sand Hill Exchange was a blockchain bucket shop that let people bet on the eventual public-market prices of hot startups. That is so illegal! It was shut down more or less as soon as anyone noticed that it existed, but the wheels of justice ground slowly on. A few weeks ago, Sand Hill announced that it had settled with the Securities and Exchange Commission for a $20,000 fine, but the announcement quickly disappeared, leaving me to suspect that the entire thing was just a dream, or a performance art project. But this week the SEC finally announced its enforcement action against Sand Hill, along with an Investor Alert warning of "fantasy stock trading websites."