Is this the end of Cloud Mining Contracts?

in #cryptonews7 years ago

image

The Attorney General of South Carolina has served a cease and desist order on Genesis Mining. In documents filed before its Securities Commissioner, it has declared cloud mining contracts to be securities, in a move that could have repercussions beyond the confines of the Palmetto State.

ATTORNEY GENERAL FORECASTS DARK CLOUDS FOR MINING CONTRACTS
Cloud mining contracts enable individuals to purchase hashing power without the need to get their hands dirty. Rather than have to order, install, and maintain a bunch of miners, capacity can be purchased from a datacenter that’s set up to mine crypto. Genesis Mining is one of the most well established operators in the space. It, as well as companies such as Hashflare, has been plying its trade for years. Now, a cease and desist order looks set to put paid to that, in the state of South Carolina at least.

Read the rest of the news article here:

https://www.cryptocurrencyguide.org/us-is-this-the-end-of-cloud-mining-contracts/

Sort:  

Hello,

Copying/Pasting full texts without adding anything original is frowned upon by the community.

These are some tips on how to share content and add value:

  • Using a few sentences from your source in “quotes.” Use HTML tags or markdown ">" before the quote.
  • Linking to your sources.
  • Include your own original thoughts and ideas on what you have shared.
  • It is recommended that the quotes should not cover more than 50% of the whole post. At least 50% of the content should be original.

Repeated copy/paste posts could be considered spam. Spam is discouraged by the community, and may result in action from the cheetah bot.

If you are actually the original author, please do reply to let us know!

More Info: Abuse Guide - 2017.


If you reply to this comment directly, we may not notice your response.
It is recommended to contact us in our Discord Channel, instead.

Thank you.

To the question in your title, my Magic 8-Ball says:

Yes

Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.

For future viewers: price of bitcoin at the moment of posting is 7800.00USD