• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

SEC's Charges Against Nova Labs: A Case Overview

user avatar

by Giorgi Kostiuk

a year ago

The US SEC has filed charges against Nova Labs, accusing the company of unregistered securities sales and false partnership claims.

Allegations Against Nova Labs

The SEC claims Nova Labs has been selling unregistered investment contracts since April 2019. The company offered two main products: hotspots, electronic devices that mine Nova Labs crypto assets, and the Discovery Mapping Program, which pays users in MOBILE tokens for providing network data.

Cease and Desist Letters

Nova Labs falsely claimed partnerships with companies like Nestle, Salesforce, and Lime, using their wireless network, which was not true. These companies sent cease-and-desist letters to Nova Labs on discovering the false claims.

Gensler's Last Stand

It is speculated that this could be one of the last actions under Gary Gensler's chairman appointment, who plans to step down on January 20. Gensler is known for his rigorous enforcement approach in the crypto sector.

The regulatory stance may shift under new leadership. The newly elected US president, Donald Trump, supports more crypto-friendly regulatory measures.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

BIS Issues Warning on Potential Gold and Stock Market Bubbles

chest

The Bank for International Settlements (BIS) warns of potential bubbles in gold and US stocks, urging investors to remain vigilant.

user avatarAisha Farooq

Gold Funds Lead the UK Market with Record Returns in 2025

chest

In 2025, all top 10 UK funds are linked to gold and precious metals, with record returns driven by surging gold prices and increased investor interest.

user avatarLeo van der Veen

India-Focused Funds Struggle in 2025 Amid Economic Challenges

chest

India-focused funds face significant challenges in 2025, resulting in negative returns for UK investors due to tariff issues and a declining rupee.

user avatarLi Weicheng

Current Altcoin Trends and Market Analysis

chest

Current data indicates that it is not yet an altcoin season, with several altcoins like Chiliz and Bitlight trending in the market.

user avatarTenzin Dorje

RedSwan Digital Real Estate Partners with Stellar for $100 Million Tokenization

chest

RedSwan Digital Real Estate has partnered with the Stellar Development Foundation to tokenize $100 million of commercial real estate assets on the Stellar network, aiming to transform real estate markets through digitization.

user avatarBayarjavkhlan Ganbaatar

SON Tokenomics and Price Predictions Ahead of Spur Protocol Listing

chest

SON tokenomics reveal a total supply of 1 billion tokens, with strategic allocations aimed at growth and stability. This breakdown includes community incentives, project reserves, and liquidity provisions, which are designed to limit early dumping and strengthen the price outlook.

user avatarDiego Alvarez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.