Bitcoin entrepreneur Erik Voorhees will pay more than $50,000 to settle charges by the Securities and Exchange Commission that he failed to register a stock offering.

Voorhees published prospectuses and solicited investors to buy shares in SatoshiDice and FeedZeBirds, the agency said in a release. Though the stock was denominated in bitcoins, which can be used for purchases and can be exchanged into fiat currency, Voorhees still broke the law, the SEC said.

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