PC gaming giant Nvidia has agreed to pay a $5.5 million penalty to settle charges for “inadequate disclosures” regarding cryptomining in the gaming business.
The Securities and Exchange Commission announced that Nvidia violated Section 17(a)(2) and (3) of the Securities Act of 1933 as well as the disclosure provisions of the Securities Exchange Act of 1934. The SEC further found that Nvidia “failed to maintain adequate disclosure controls and procedures,” the government group said in a press release.
Nvidia did not admit to or deny the SEC’s charges, but will pay the $5.5 million fine and agreed to a cease-and-desist order.
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Source: Game Spot Mashup