Cloud Mining Service Genesis Mining ordered to stop operations

The Securities Commission of South Carolina has ordered Genesis and a second firm, Swiss Gold Global Inc., to stop doing business in South Carolina, according to the Cease-and-Desist order document released on 9 March 2018.     The order states that mining contracts sold to buyers and state of South Carolina residents are considered as securities.  The two companies, Genesis and Swiss Gold Global have also been barred from offering any securities in the state in the future. This barring, according to the document, is permanent.   Cloud Mining businesses…

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This Week Bitcoin Price Hits $11,000

NEW YORK, November 30, 2017 /PRNewswire/ Bitcoin hit another record high on Wednesday. The world’s most popular cryptocurrency surged past $11,000 for the first time, even after reaching $10,000 the night before. The recent rally in bitcoin price can be attributed to increasing interests in digital currency for both investors and institutions. According to Bloomberg, Nasdaq Inc. plans to introduce bitcoin futures as early as the second quarter next year, a source with knowledge of the matter said on Wednesday. In October, CME, the world’s largest derivatives exchange, also announced the launch of bitcoin future product this year.…

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