Regulators Set To Finally Decide Fate Of So-Called Cryptocurrency Mine

The U.S. Securities and Exchange Commission (SEC) has been working on a crypto-related case for some time, but it seems the regulator is ready to make a decision soon.

The SEC looked into an ICO (Initial Coin Offering) led by the Winklevoss twins, known as the first Bitcoin billionaires. The brothers are known for their involvement in the creation of Facebook, as well as their feud with Mark Zuckerberg over the aforementioned company.

The SEC filed a lawsuit against Tyler and Cameron Winklevoss in 2013 for allegedly offering unregistered securities through what they called the Gemini Exchange and claiming they owned $1 million worth of bitcoin. as part of their venture capital fund. At the time, Tyler was also running for a seat in the New York State Senate and Cameron was running for Congress in California's 11th District.

in March 2017, Tyler Winklevoss admitted that his claim that he owned $1 million worth of bitcoins was false and that he settled with the SEC for $65 million in funds. face plus another $65 million in Digital Asset Services stock. provides custody services related to digital assets such as cryptocurrencies like bitcoin and ether