The Office of the Attorney General of South Carolina (SC AG) imposed a cease and desist order on Swiss Gold Global, Inc. and Genesis Mining Ltd. – both non-US-based entities – for offering and selling a security in the state that was not federally registered or exempt from registration. Swiss Global was also accused of acting as an unregistered broker-dealer. According to the SC AG, Swiss Global offered cryptocurrency mining contracts to investors. The proceeds of these mining contracts were pooled and used by Genesis for cryptocurrency mining operations, said the SC AG. According to the order, cryptocurrencies were then mined solely through the computational efforts of Genesis and proceeds shared with investors. Thus the mining contracts were of the nature of investment contracts, said the SC AG.