{"id":10543,"date":"2022-04-05T10:53:04","date_gmt":"2022-04-05T14:53:04","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10543"},"modified":"2022-04-05T10:53:04","modified_gmt":"2022-04-05T14:53:04","slug":"massachusetts-fines-dmg-cryptocurrency-company-for-violating-securities-laws","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/massachusetts-fines-dmg-cryptocurrency-company-for-violating-securities-laws\/","title":{"rendered":"Massachusetts Fines DMG CryptoCurrency Company For Violating Securities Laws"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10546 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/04\/Bitcoin3.jpg\" alt=\"The Massachusetts Securities Division recently levied $1 million in fines against U.S. Data Mining Group (DMG) for allegedly conducting unregistered securities offerings. The Division, in its complaint, alleged that the bitcoin mining company failed to register its stock while fundraising. DMG also failed to notify investors that two of the company\u2019s promoters had previously violated US federal securities laws during their Series A fundraising, which raised nearly $25 million in March of 2021.  DMG also failed to register this offering with the state\u2019s Securities Division, even though they raised $3.5 million from Massachusetts residents.  DMG knew since at least 12\/4\/2020 that registrations exemptions for conducting offerings was not an option, according to the regulator. In fact, the company clearly stated this in their promissory notes issued at that time, because of the past histories of some of the promoters, according to the consent order.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/04\/Bitcoin3.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/04\/Bitcoin3-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>The Massachusetts Securities Division recently levied $1 million in fines against U.S. Data Mining Group (DMG) for allegedly conducting unregistered securities offerings. The Division, in its complaint, alleged that the <a href=\"https:\/\/www.silverlaw.com\/bitcoin.html\" target=\"_blank\">bitcoin<\/a> mining company failed to register its stock while fundraising. DMG also failed to notify investors that two of the company\u2019s promoters had previously violated US federal securities laws during their Series A fundraising, which raised nearly $25 million in March of 2021. <a href=\"https:\/\/www.silverlaw.com\/blog\/massachusetts-fines-dmg-cryptocurrency-company-for-violating-securities-laws\/#more-10543\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Massachusetts Securities Division recently levied $1 million in fines against U.S. Data Mining Group (DMG) for allegedly conducting unregistered securities offerings. The Division, in its complaint, alleged that the bitcoin mining company failed to register its stock while fundraising. DMG also failed to notify investors that two of the company\u2019s promoters had previously violated [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1655,593],"tags":[],"class_list":["post-10543","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency","category-ponzi-schemes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Massachusetts Fines DMG Crypto Company For Violating Securities Laws<\/title>\n<meta name=\"description\" content=\"The Massachusetts Securities Division levied $1 million in fines against U.S. Data Mining Group (DMG) for unregistered securities offerings.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/massachusetts-fines-dmg-cryptocurrency-company-for-violating-securities-laws\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/massachusetts-fines-dmg-cryptocurrency-company-for-violating-securities-laws\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Massachusetts Fines DMG CryptoCurrency Company For Violating Securities 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