Texas State Securities Board Issues Cease and Desist Order to Crypto Promoters

1w
1m read
Summary

The Texas State Securities Board (SSB) has issued an emergency cease and desist order to a network of cryptocurrency-related firms, the SSB announced in an official statement July 12. It states that Symatri failed to disclose Kala token details and provide information on the risks of crypto investments. In January, the SSB issued a similar order against notorious scam project Bitconnect for selling unlicensed securities. According to the order, the companies are immediately suspended from offering securities in Texas until the security is registered or exempt. SSB commissioner Travis J. Iles took emergency action on July 11, suspending a group of crypto-related companies that allegedly offered fraudulent crypto investments to state residents.

Article Preview

The Texas State Securities Board (SSB) has issued an emergency cease and desist order to a network of cryptocurrency-related firms, the SSB announced in an official statement July 12.

SSB commissioner Travis J. Iles took emergency action on July 11, suspending a group of crypto-related companies that allegedly offered fraudulent crypto investments to state residents. According to the order, the companies are immediately suspended from offering securities in Texas until the security is registered or exempt.

The order lists a Utah-based network of three companies; Mintage Mining LLC, Symatri LLC, and NUI Social....

Read the full article @ Coin Telegraph