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Texas Securities Regulator Reveals 16 Orders Issued to Suspect Crypto Investments in 2018


The Texas State Securities Board is working with law enforcement to track down crypto scammers, with 60 cited last year.

The Texas State Securities Board (SSB) issued a total of 16 orders against suspected cryptocurrency scam investments in 2018, the regulator revealed in its 2018 Enforcement Report published on Feb. 7.

Targeting actors luring Texas residents with various investment schemes, the SSB said it had successfully cited a total of 60 people and entities over the twelve-month period that reportedly sold unregistered securities.

Scams included the now-infamous BitConnect, an investment racket which lost almost its entire market cap after a string of revelations about its authenticity worldwide.

“Promoters of cryptocurrency-related offerings are taking advantage of the anonymity of the internet to attract victims, weaponizing social media to connect with investors in Texas,” the report reads,…



Read Full Story : Cointelegraph.com News

2019-02-08 08:29:00

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