The U.S. securities regulator alleges that the company solicited investment for software mining licenses that generate tokens that are reported created instantaneously.
In a lawsuit filed in Utah, securities regulator accuses Green United and its founders of duping investors into buying GREEN token mining machines, yet the tokens didn’t exist.
The risks of investing in digital assets were highlighted once again following the charges slapped against a Utah man who allegedly scammed investors over $2 million through social media.
House Bill 335, which was first introduced in February, mandates the task force to work on policy recommendations for the state's adoption of digital currency and blockchain technology.
Utah has teamed up with HHS Technology Group to design and employ a blockchain-powered solution for sharing patient records.
Utah joined a small handful of other states in the U.S. when it announced that it was ready to fully embrace the use of blockchain technology.
Ohio, Wyoming, Pennsylvania and Indiana have all either implemented or are considering legislation to pave the way for crypto use. Now, a fourth state is joining them—Utah.