SEC Doesn’t Dig $36 Million Gold-based Crypto Scam

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• The SEC is going after the Dignity scam from 2017 which earned its creators $36.8 million
• The agency accuses two companies and a range of individuals of lying to investors over the coin’s backing
• The companies behind the scam claimed that the DIG coins were backed by $10 billion in gold bullion

The Securities and Exchange Commission (SEC) has launched proceedings against two firms that made false claims and misrepresentations to inves