Is Mining Equipment a Security? Bitcoin Mining Case Moved to Arbitration

The court in the Roberts v. Obelisk, Inc. case has granted a motion to compel arbitration, according to a report by The Block Crypto. The ongoing case (Roberts v. Obelisk, Inc., 2019 U.S. Dist. LEXIS 72065 (D.Cal., 18-cv-2898-LAB, April 29, 2019) [SDP]) involves determining whether or not bitcoin mining equipment should be considered securities, which would make the sale of bitcoin mining equipment subject to security laws and unfair marketing laws.

Unfortunately, because the court has compelled arbitration, we are unlikely to ever obtain a firm ruling from the court on the issue. We will not have a ruling on whether or not mining equipment is a security. Instead, that issue will be resolved by an arbitrator.

Obelisk Delivered Miners Late, Failed to Live Up to Hashrate…

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