Texas Regulator Targets Crypto Promoters Amid Bitcoin Boom

Law360 (June 28, 2019, 8:54 PM EDT) -- Noting the latest surge and tumble in the price of bitcoin, the Texas State Securities Board said Friday that a recent investigatory sweep of the cryptocurrency market has already netted three emergency orders against promoters of allegedly fraudulent schemes.

The securities regulator, which has been the most active of its fellow state agencies in policing the cryptocurrency investment space, attributed its latest probe of the market for digital assets to the "bad actors" that tend to cash in on the frenzy around bitcoin, as experienced in late 2017 when its price reached an all-time high of nearly $20,000.

"At the time,...

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