TechFlow news, on September 24, according to Cointelegraph, a U.S. court in Utah rejected on September 23, 2024, the motion to dismiss filed by Green United LLC and its executives Wright Thurston and Kristoffer Krohn. The U.S. Securities and Exchange Commission (SEC) accused them of operating a fraudulent cryptocurrency mining scheme that illegally raised approximately $18 million. Judge Ann Marie McIff Allen ruled that the SEC's allegations were sufficient, finding that Green United allegedly sold so-called "Green Boxes" and "Green nodes," claiming they could mine GREEN tokens on a non-existent "Green Blockchain." In reality, these devices were Bitcoin mining machines, and investors did not receive any mined Bitcoin. The judge also rejected the defendants' argument that the SEC lacks authority to regulate digital assets. The case will now proceed to the next phase of legal proceedings, which could include discovery or trial.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / support@techflowpost.com ICP License: 琼ICP备2022009338号
