A federal judge in Texas has halted the US Securities and Exchange Commission's (SEC) case against Bitcoin mining company Geosyn Mining LLC, following criminal charges being filed against three of its executives. The CEO, COO, and a former sales manager are accused of misusing customer funds and using investor money for personal expenses instead of investing in mining equipment. The SEC, initially opposing a pause in the lawsuit, agreed to the stay after reviewing new legal arguments. The executives allegedly engaged in wire fraud and operated a Ponzi-like scheme disguised as a crypto mining business. Recent statements from President Donald Trump and acting SEC Chair Mark Uyeda in favor of easing SEC enforcement on crypto firms may impact the case. The SEC's lawsuit, seeking to classify Geosyn's mining agreements as securities, has been put on hold.



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