RATE Group | Bitcoin Mining Firm Reopens in U.S. after Regulators Revoke Cease & Desist Order
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Bitcoin Mining Firm Reopens in U.S. after Regulators Revoke Cease & Desist Order

03 Aug Bitcoin Mining Firm Reopens in U.S. after Regulators Revoke Cease & Desist Order

Posted at 23:20h in Bitcoin News by

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bitcoin mining farm

Genesis Mining, a provider of managed cloud mining, announced that it is resuming operations in the United States after South Carolina regulators withdrew a cease and desist order against the firm. Contracts serving U.S. residents have been disabled for five months up until now.

SC Regulators Revoke Cease & Desist Order

The cease and desist originated from the South Carolina Securities Commission on March 9, 2018, which prompted Genesis Mining to withdraw services from the entire United States. The commission decided to withdraw the order this week. Genesis Mining has been cooperative with regulators.

The announcement from the Commission gave no details behind why they decided to withdraw the C&D. The Commission sent the original order “because of the belief that the service [Genesis Mining] offers, computer hash power (mining), is considered a security.”

This move is in line with the general trend of regulators warming up to cryptocurrencies. As CCN reported, the SEC…

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