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September 6, 2013

Bitcoin in Trouble with the SEC

The Securities and Exchange Commission (SEC) filed a lawsuit against Bitcoin Savings and Trusts Inc. The SEC alleges that, Trendon Shavers, the founder of Bitcoin, deceived investors into taking part in a fraudulent Ponzi scheme. The SEC alleges that Shavers used money he collected from newer investors to pay older investors. Bitcoin is now being more closely examined by the government and as well as other ventures touting the use of “virtual” currencies.

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