An Australian Federal Court has ordered the seizure of approximately US$41 million in digital assets from the NGS group of blockchain mining companies.  This ruling is the result of active civil proceedings commenced by the Australian Securities and Investment Commission (ASIC), pointing out regulatory actions taken against unlicensed financial activities linked to cryptocurrency.
Regulatory Action on NGS Group Unlicensed Operations
The legality actions of ASIC started, when investigations showed, that NGS Crypto, NGS Digital, and NGS Group, as well as their directors Brett Mendham, Ryan Brown, and Mark Ten Caten, carried out their operations without having the needed financial services license. 
These entities were held to have conducted financial services in Australia illegally, which had compelled the court to appoint receivers for the digital assets held by these companies. This intervention is designed to protect the investments of more than 450 Australian investors who had inve

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