Middle East

North America

South America

United States

Cryptoassets & Blockchain Legal News

BTC $ 3605 0.86%
BCH $ 128 4.26%
ETH $ 119 1.29%

United States

Investors sue Bitcoin Miner for Unregistered Securities

January 3, 2018 by Ashley MAO

A suit alleging conducting an unregistered securities offering has been filed against Giga Watt – a company who held the ICO to fund the construction of a cryptocurrencies mine. The plaintiffs are a group of investors who contributed an excess of $20 during the project’s initial coin offering.

IN exchange for their investments, the buyers of the tokens were supposed to receive exclusive rights for use the Giga Watt cryptocracies mining facility rent-free or mining gear and supplies. Giga Watt then failed to meet its deadlines and honor refunds.

The suit alleges that tokens they bought into are securities and must be registered with the U.S. Securities and Exchange Commission.


More info from other sources

Ashley MAO, Coinlaw

view profile
Ashley MAO is a member of the Coinlaw team. Read more about our team.


United States Latest Cryptoassets & Blockchain Legal News

Stay tuned with the legal news on blockchain & cryptoassets

Whether you are a founder gearing-up for an ICO, a token-buyer or a cryptoasset trader, subscribe to our newsletter to be informed of the latest legal developments impacting blockchain & cryptoassets in each and every jurisdiction