The SEC has accused a Utah-based crypto firm of violating federal securities laws by selling bogus mining equipment worth $18M As expected, crypto-community has reacted to agency’s ‘regulation by enforcement’ diktat The Securities and Exchange Commission (SEC) of the United States has filed a lawsuit against Utah-based crypto-firm Green United. The agency has alleged that […]
The SEC has accused a Utah-based crypto firm of violating federal securities laws by selling bogus mining equipment worth $18MThe Securities and Exchange Commission of the United States has filed aagainst Utah-based crypto-firm Green United. The agency has alleged that the firm violated federal securities laws by selling bogus crypto-mining equipment worth $18 million in return for tokens.
Green United’s mining machines, according to the SEC, never mined GREEN tokens because they were not mineable crypto-assets. In fact, the SEC has argued that the Green Boxes were actually S9 Antminers – Bitcoin mining equipment. Furthermore, the so-called Green Blockchain did not exist. The SEC also claims that the value of GREEN tokens never increased. They could not be traded on a secondary market until the fall of 2020. The current price of $.004 is significantly lower than the promised initial value of two cents per token.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance reportedly wanted SEC chair Gary Gensler to be an adviserThe present SEC chair had rejected the offer to serve as an adviser to Binance, as per WSJ Binance reportedly has been “much more intertwined” with its American affiliate than it has disclosed Binance – the world’s largest crypto exchange – sought to onboard Gary Gensler, the current Chairman of the U.S Securities and Exchanges […]
Read more »
US SEC freezes assets of BKCoin for orchestrating crypto fraud schemeThe United States Securities and Exchanges Commission (SEC) announced that it filed an emergency action against BKCoin Management LLC – a crypto-hedge fund. Additionally, the action extends to its co-founder – Kevin Kang. The co-founder was fired in December 2022 over allegations of misappropriating customer funds to the extent of $12 million. The commission claims […]
Read more »
Wall Street pushes back against SEC stock market reformsNYSE teams with Charles Schwab and Citadel Securities to ask for withdrawal of two rules
Read more »
United Nations members reach accord to protect marine life on high seas | CBC NewsFor the first time, United Nations members have agreed on a unified treaty to protect biodiversity in the high seas — nearly half the planet's surface — concluding two weeks of talks in New York.
Read more »
Liverpool humiliates Manchester United with 7-0 rout in EPLLiverpool brought Manchester United crashing down to earth in a stunning 7-0 rout in the Premier League at Anfield on Sunday.
Read more »
Liverpool humiliate Manchester United as momentum shifts in Premier LeagueThis was the kind of disgraceful loss that could define the campaigns of both clubs
Read more »