Bitcoin Forum

The Texas State Securities Board has issued an emergency action to halt the deceitful offerings of investments in three cryptocurrency related schemes.

The agency entered a cease and desist order against Coins Miner Investment Ltd, DigitalBank Ltd, as well as Ultimate Assets, who is charged for offering Texans misleading ROIs and promising to grow an initial investment of $1,000 into $10,000 in three weeks.

https://www.ccn.com/texas-regulators-shut-down-three-cryptocurrency-scams/

They have been first movers in the crack down of crypto scams, I have an immediate family member who works in law enforcement and I can tell you that the authorities in texas are very serious about finding and prosecuting ICO/Crypto scams.

They were the first state to put out a cease and desist order on bitconnect:
https://cointelegraph.com/news/texas-regulator-orders-bitconnect-to-cease-and-desist-marketing-securities

This kind of led to the downfall of bitconnect, nonetheless youtube promoters (scammers) were making videos the next days showing people how to use VPN to keep re-investing  ::) ::)

It's good to see authorities taking action but at the same time the SEC is hindering crypto innovation in the USA.

Crypto currency should be regulated as it is so many fraudsters in this sphere. But it should not be limited as this will not lead to any progress in the future. Everybody is waiting on September 30 and there will be a decision of the commission on etf for well-known companies and this may be boosted by bitcoin growth this year. Everyone thinks that there will be a refusal, but there is some kind of a chip there.

well if clients believed that they will get 10k from 1k investment in 3 weeks, im sorry to say but they deserved to lose their money! With that kind of thinking they would lose it sooner or later! Like all those scamed by bitconnect, its like you belive some preacher can fix your broken spine and make you walk again for small donation...