South Carolina Wants To Ban Genesis Mining Over Unregistered Securities

Lawmakers in South Carolina asked cryptocurrency cloud mining platform Genesis Miningto leave the state due to selling “unlicensed securities” Friday, March 9.

A cease and desist order filed by the South Carolina Attorney General’s Office Securities Division claims Genesis, which is registered in Hong Kong, along with Zurich-based partner enterprise Swiss Gold Global, illegally served residents with unregistered mining contracts.

At no time… was Swiss Gold Global registered with the Division as a broker-dealer, and no exemption from registration has been claimed,” the order reads.

“At no time… were the securities at issue registered with the Division or federal covered securities.”

The order marks the latest in a string of US state-level requests for various cryptocurrency actors to withdraw their services…

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