PANews reported on January 19 that the U.S. Securities and Exchange Commission charged Nova Labs, Inc. ("Nova Labs") with allegedly offering crypto assets as securities in an unregistered manner and defrauding investors. According to the SEC's complaint, from April 2019 to the present, Nova Labs has conducted unregistered securities offers and sales when providing and selling electronic devices called "Hotspots" (used to mine Nova Labs' crypto assets) and "Discovery Mapping" (a program that allows users to exchange their private data for Nova Labs' crypto assets). The SEC seeks a permanent injunction against Nova Labs, disgorgement of ill-gotten gains, prejudgment interest, and civil penalties.