ICOs Are Subject To Strict Regulatory Scrutiny – SEC Chairman Jay Clayton

News, Regulation | November 27, 2018 By:

Jay Clayton, chairmain of the US Securities and Exchange Commission (SEC), has reiterated that many initial coin offerings (ICO) can be categorized as securities.

In an interview with CNBC, Clayton said that while bitcoin remains a commodity, other ICO tokens classify as securities and companies that want to conduct one have to adhere to any relevant legal requirements that the SEC has outlined.

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Bitmain Sued For Allegedly Using Customers’ Devices To Mine Cryptocurrencies

News | November 27, 2018 By:

Chinese crypto mining giant Bitmain has been sued for allegedly mining cryptocurrencies without the customers’ consent. The class action lawsuit was filed by Los Angeles County resident Gor Gevorkyan in the North District Court of California.

The lawsuit claims that Bitmain redesigned its ASIC devices to mine cryptocurrency for the benefit of itself rather than its customers who purchase the products.

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