The South Carolina Attorney General’s office sent a cease and desist letter to Genesis Mines for offering sales through its website within the state without a license. The state exercised its authority over the Icelandic cryptomining titan in court. The cease and desist named Genesis’ Swiss parterners Swiss Gold Global in Zurich and its Hong Kong parent company. Instead of selling traditional shares or other securities, Genesis directly sells to users maintenance-free plans for a given amount of the network’s computing power as measured in thousand hashed per second (kilo hash per second or kH/s). As of today, these shares are all “sold out” on the website: Because of the…
Wade Hampton III's statue outside South Carolina's statehouse. Would be nicer to see Lionel Hampton's statue (via Shutterstock).