Texas regulator banned the work of fifteen cryptocurrency companies.

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The Texas Securities Council (TSSB) ordered fifteen cryptocurrency-related companies to stop working. The Texas regulator said that ten of these companies are controlled by one person.
The Texas Securities Council (T S S B) ordered fifteen cryptocurrency-related companies to stop working. The regulator said that ten of these companies are controlled by one person.

TSSB banned the work of fifteen cryptocurrency companies, including organizations offering trade in forex and binary options markets. Ten companies are named in the first order: Proactive Expert Trading, Reliable Miners, BitcoinFX Options, Sure Trade Earnings, CryptoTradeFXWay, Proactive ExpertTrade, ReliableFX Internal Trade, MaxFX Internal Trade, AntPoolTop Mining and ExpertTrades247. According to the regulator, all ten companies were actively promoted on social networks by one person – James Blundell.

The second order prohibits the work of three companies: Binary Trade Forex, FX Trades and IQTrade. According to a regulator statement, these firms did not receive permission to sell securities in Texas. They offer very profitable low-risk investment options, at least according to customer feedback. However, according to TSSB, the reviews are fake.

The third order named a cryptocurrency platform for binary options and forex investments called GenuisPlanFxPro. The platform falsely claims to own several international financial licenses. TSSB employees say that all fifteen companies combine the competent use of social networks to attract investors. Regulatory Enforcement Director Joe Rotunda said:

“Attackers know how to use social networks and websites on the Internet to create visibility into legitimate transactions. They can also use this technology to quickly reach a large number of potential victims. Their websites and social networks often stop working abruptly, and fraudsters disappear. In many cases, along with money. “

Recall that in July, the Texas regulator ordered Mirror Trading International (MTI) to stop trading in BTC and foreign currencies, calling the company a multi-level fraudulent scheme.

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