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Connecticut jury decides mining related crypto-products do not count as securities
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ambcrypto.comIn a “first-of-its-kind verdict,” a Connecticut jury found that multiple digital-asset products linked to a cryptocurrency mining operation cannot be considered as “securities.” This verdict has come at a crucial juncture. The U.S. is already in the middle of a debate pertaining to the stretched out Ripple vs SEC lawsuit.
The jury found that digital products in question, including a virtual currency and a digital wallet, were not investment contracts, as reported by Law360. In this case, the petitioners were customers of a mining company that sold Hashlets, Hashpoints, Paycoin and HashStakers. These customers alleged all the above four products were “unregistered securities.”
But the jury found otherwise. This could be a surprise for the
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