🌐 What happened?
The SEC (Securities and Exchange Commission) has decided that cryptocurrency mining devices sold by Green United LLC are securities. This means that the same rules apply as for stocks or bonds. The federal court rejected the company's arguments and upheld the SEC's allegations.
💻 What was Green United selling?
The company offered mining devices called “Green Boxes” along with a hosting service, where they would operate the machines for investors and promise them huge profits.