Salt Lending Holdings, Erik Voorhees Under SEC Investigation – WSJbr>
The SEC is investigating a $50 million cryptocurrency sale and are looking at whether bitcoin entrepreneur Erik Voorhees broke the law.
The Wall Street Journal reported today that Voorhees, CEO of the ShapeShift AG exchange, is under investigation for allegedly abetting money laundering by criminal elements.
But now the SEC is investigating Salt Lending Holdings Inc., a lending company that uses cryptocurrency as collateral. It held a $50 million token sale last year. Voorhees served on Salt’s board, which would violate a 2014 SEC settlement that banned him from all financial fundraising.
The news arrives on the day the SEC announced its first two settlements on ICO registrations.
Voorhees has been a critic of regulation. “This whole narrative that the government is out to protect people is total bullshit,” he told the WSJ in a summer interview.