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SEC Sues VBit CEO Over Bitcoin Mining Hosting Contracts, Citing Securities Law

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The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Danh C. Vo, CEO of VBit Technologies Corp., over alleged securities law violations. The SEC claims Vo and related entities raised $95.6 million from 6,400 investors via Bitcoin mining hosting contracts. The agency argues these agreements qualify as investment contracts under the Howey Test. Investors reportedly received no direct control over mining operations, and some funds were allegedly misused. The case adds to ongoing SEC news and Bitcoin news about regulatory challenges in the crypto sector.
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