🚨 SEC Just Dropped a BOMBSHELL on $BTC Mining! 💥
The SEC has officially stated that certain Bitcoin mining setups could be classified as securities – specifically, those offered through third-party services. They’ve filed a lawsuit against the founder of VBit, alleging unregistered securities were sold through their mining service.
Here’s the breakdown: VBit sold “shares” in their mining operations, promising periodic $BTC payouts while *they* controlled all the hardware. The SEC argues this creates an expectation of profit based on VBit’s efforts, legally defining it as a security.
But it gets worse. The founder is accused of outright fraud – allegedly misusing $48.5 million in customer funds for crypto, gambling, and personal expenses. 🤯 This could set a HUGE precedent for the entire Bitcoin mining industry.
#Bitcoin #SEC #CryptoNews #Mining 🚀
