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-securitiesThis 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.
