U.S. SEC sues Nova Labs for alleged fraud and registration violations

Reprinted from panewslab

01/19/2025·10days ago

PANews reported on January 19 that the U.S. Securities and Exchange Commission charged Nova Labs, Inc. ("Nova Labs") for allegedly issuing crypto assets as securities in an unregistered manner and deceiving investors. According to the SEC’s complaint, from April 2019 to the present, Nova Labs has provided and sold electronic devices called “Hotspots” (used to mine Nova Labs’ crypto assets) and “Discovery Mapping” (a device that allows users to transfer their private data to When switching to Nova Labs Crypto Assets Program), an unregistered offer and sale of securities was made. The SEC is seeking a permanent injunction, disgorgement, prejudgment interest and civil penalties against Nova Labs.