Golden Finance reported that Ann Marie McIff Allen, a judge at the U.S. District Court for the District of Utah, said that the U.S. Securities and Exchange Commission (SEC) has fully charged that Green Boxes, combined with the custody agreement, constitute securities. This case is different from an investigation into whether digital assets and their transactions meet the investment contract test. Green United LLC failed to convince the federal court to dismiss the civil fraud lawsuit filed by the SEC against it. The SEC filed a lawsuit in March 2023, accusing Green United founder Wright Thurston and his promoters of offering $3,000 in "Green Boxes" investments, claiming that these crypto miners were able to mine GREEN tokens on the fictitious Green blockchain, and investors were promised a substantial return of 40% to 50%. However, the SEC pointed out that Green United's miners never mined GREEN tokens because the tokens were not mineable and the so-called Green blockchain did not exist. The SEC believes that Green United's real intention was to deceive investors into buying counterfeit S9 Antminers, and although investors effectively purchased the equipment, they did not receive the token returns they deserved.