Overstock.com Says It's Being Probed by the SEC Over Cryptocurrency

[alyssa85]

http://fortune.com/2018/03/01/overstock-com-sec-cryptocurrency-investigation-crackdown/

Overstock.com is being investigated by the Securities and Exchange Commission regarding its activity in the cryptocurrency field.

A company subsidiary, tZero, is hoping to raise $250 million through a token sale. But in an 8K filing Thursday morning, the online retailer said the SEC’s enforcement division requested “certain documents related to the offering and the tokens” in February.

Overstock said it is cooperating with the investigation.

It’s part of a larger cryptocurrency probe by the SEC that’s looking into whether there have been violations of securities laws as Bitcoin and other cryptocurrencies have traded in a largely unregulated environment. The Wall Street Journal said multiple companies have been put on notice in the past several months, but did not name them.

I think the message is plain old open source cryptocurrencies that can be mined by anyone are fine. But they hate ICOs.

[Doge dealer]

people this is the beginning of "soft" regulations all of these request and orders that are being served is the ground work to set up a regulatory framework ,none of this is unexpected its not like we don't know most people hate paying taxes and engage in several activities to eighter pay no or reduced taxes and no government or person will sit back and watch their income and revenue being whittled away and not try to stop that from happening, they will do all they can to shape it in their benefit.

[penig]

Misleading title., they are being investigated over a token sale.  ICO are being used to circumvent regulations around sales of securities, we can expect much more interest in ICOs, how and where they are conducted.   If people burn electricity and GPU "mining", thats not any of SEC concern.