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Nvidia agrees to pay $ 5.5 million for settlement of SEC cryptocurrency disclosure investigation

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Nvidia agrees to pay $ 5.5 million for settlement of SEC cryptocurrency disclosure investigation

Washington –Nvidia agreed to pay $ 5.5 million to settle a regulatory investigation, which found that it did not properly identify the impact of cryptocurrency on the sale of powerful chips designed for computer games.

The Securities and Exchange Commission said that in fiscal year 2018, Nvidia’s sales of its GPUs or GPUs were significantly increased by consumers buying them to mine new cryptocurrency units. Nvidia has kept investors in the dark about the fact for two quarters, depriving shareholders of information needed to understand its future financial performance, the SEC said Friday.

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