SEC fines Nvidia $5.5M over cryptomining misinfo - Breaking The News

SEC fines Nvidia $5.5M over cryptomining misinfo

6 May

1 min read

EPA-EFE/SHAWN THEW

The United States Securities and Exchange Commission (SEC) announced on Friday it has decided to fine Nvidia Corporation $5.5 million over what it described as "inadequate disclosures concerning the impact of cryptomining on the company's gaming business."

"Nvidia's disclosure failures deprived investors of critical information to evaluate the company's business in a key market," SEC Enforcement Division's Crypto Assets and Cyber Unit Chief Kristina Littman commented. "All issuers, including those that pursue opportunities involving emerging technology, must ensure that their disclosures are timely, complete, and accurate."

The SEC explained the penalty is referring to Nvidia's activities in the fiscal year 2018. It added the company has agreed to pay the fine.

nvidia cryptocurrencies sec

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