WSJ: Erik Voorhees and “SALT Lending” are under SEC investigation

A cryptocurrency credit startup "SALT Lending" and a former member of the board of directors of the company Erik Voorhees are under investigation by a US regulator. It is reported by the publication The Wall Street Journal, citing "sources familiar with the situation."

According to the report, the US Securities and Exchange Commission (SEC) called "SALT Lending" representatives to court in February. The reason for this was the $ 50 million ICO spent by the company at the end of 2017.

Apparently, the problem is that the tokens offered for start-up should have been registered as securities. However, "SALT Lending" representatives neglected this and violated US laws.

Note that Voorhees more than once came into the view of the SEC. So, in 2014, the Commission fined him $ 50,000 and forbade him to work with Bitcoin for the next five years due to violations of the law on securities.

Sources of The Wall Street Journal also suggest that the SEC is investigating the possible participation of Voorhees in ICO "SALT Lending", as if he was involved in promoting a startup, then, accordingly, violated the ban of 2014. The situation was commented by Brian Klein, Attorney-at-Law: