Texas Securities Board Orders Crypto Cos. To Close Up Shop
Law360 (October 16, 2019, 5:26 PM EDT) -- The Texas State Securities Board has sent cease and desist orders to two allegedly bogus cryptocurrency companies targeting Lone Star State residents, the regulator announced Tuesday.
The companies, which are named in the orders as PK Crypto Investment and Cyp Miner, are accused of misrepresenting that they were registered businesses and misrepresenting the realities of digital currency sales and trading in their online advertising.
According to the board, PK Crypto's website identifies an unfindable law firm as its legal counsel and claims it's audited annually by an accounting firm the securities board says it's unaffiliated with.
It also misrepresented a ticker...
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