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South Carolina Declares Cloud Mining Contracts to Be Securities

  • Published on: Mar 13, 2018 - 6:36 AM
  • Source: Bitcoin.com

The Attorney General of South Carolina has served a cease and desist order on Genesis Mining. In documents filed before its Securities Commissioner, it has declared cloud mining contracts to be securities, in a move that could have repercussions beyond the confines of the Palmetto State. Also read: ‘Cryptomatoes’ Using Excess Mining Heat to Grow Produce Attorney General Forecasts Dark Clouds for Mining Contracts Cloud mining contracts enable individuals to purchase hashing power without the need to get their hands dirty. Rather than have to order, install, and maintain a bunch of miners, …

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