The Attorney General of South Carolina has slapped Genesis Mining, one of the world’s largest cloud-based cryptocurrency mining firms, with a cease-and-desist order.

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The order, issued on the 9th of March, mentions the names of two firms – Genesis Mining and Swiss Gold Global Inc. It asks both of them to cease all operations within the borders of the state.

According to the order, South Carolina considers mining contracts to be securities, which makes it illegal to sell them to state residents without proper authorization.

The Securities Commission of South Carolina alleged ... (read more)