Dominion Bitcoin Mining Company vs FCAA, Accusations Continue to Fly
A bitcoin company based out of Saskatchewan is currently locked in a legal battle with the Financial and Consumers Affairs Authority of Saskatchewan. The defendant, Dominion Bitcoin Mining Company Limited was accused of violating the Securities act has in turn accused the investigator of breaching the company's encrypted website to access confidential information which is later misinterpreted and used as the basis of currency securities hearing. According to reports published by the Regina Leader Post, Dominion Bitcoin Mining Company Ltd. was accused of publicly promoting the sales of....
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Another Bitcoin mining company, this time in Canada, is facing fines from government regulators. The Dominion Bitcoin Mining Company of Saskatchewan has been under a cease-trade order since May of 2014. The order, issued by the Financial and Consumer Affairs Authority (FCAA) was originally filed because the FCAA accused the company of seeking investors without properly registering their intent. While the original order has since expired without penalty it seems that the FCAA is now upping the game by accusing Dominion of multiple violations of the Securities Act of 1988. The new....
A Canadian company called Dominion Bitcoin Mining has been exonerated of soliciting investors without proper registration. The government of Saskatchewan, Canada's Financial Consumer Affairs Authority (FCAA) ruled that the website that allegedly was in violation of Canadian law was not active and that it did not sell any shares to investors. A co-founder of the mining company now plans to sue the regulator for libel, according to the Globe and Mail in Toronto. FCAA staffers charged that Dominion's directors offered securities without proper registrations, according to an FCAA decision....
The Financial and Consumer Affairs Authority (FCAA) of Saskatchewan, Canada, has cleared a bitcoin startup of breaching securities law. A decision from the FCAA panel, announced on 22nd October, found that Dominion Bitcoin Mining Company Ltd did not solicit investors, nor offer shares illegally. Its statement reads: "It is the determination of that Panel that, notwithstanding the initially apparent validity of the allegations of the FCAA staff, an offering of shares did not at material times exist, and the parties did not engage ... in any breach of the provisions of the Act [The....
In a less than graceful tweet, Jeffrey Smith, the CIO of CEX.io, announced that the company would be pausing mining for its users. Instantly, the internet erupted. Accusations were thrown around, of course, and many wondered out loud if this was the beginning of the end for cloud mining companies like CEX. Their more thorough blog post—which included, among other things, that users are able to turn their hashes back on—received less attention. Of course, accusations continue, and there really isn't anyone who can prove anything either way. Smith tells me that CEX has no hardware of their....
Not terribly long ago, a news story circulated on the bitcoinosphere of a new bitcoin mining hardware company called Boscombe Pierlytic Miners. The company announced three miners with impressive specifications and even opened up pre-ordering. Following the story, however, word began to spread that the Boscombe operation was nothing more than a scam. There's an entire thread on Bitcointalk dedicated to the topic. So when a commenter on our site noted simply "This is a scam", we became curious and felt it be the responsible thing to reach out to the company and allow them to make a....