VBit Lawsuit Revives SEC’s Aggressive Crypto Playbook

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The SEC’s lawsuit against Bitcoin miner VBit accuses the company of fraud and misappropriating roughly $48 million between 2018 and 2022 by overselling mining hosting agreements. Regulators also alleged VBit failed to meet basic industry standards, including allowing investors to track rigs or control operations.

The case stands out as one of the most notable crypto classifications under the Trump administration, echoing enforcement approaches more commonly associated with earlier regulatory regimes.