RATE Group | Colorado State Cracks Downs on Unregulated Cryptocurrency Businesses
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Colorado State Cracks Downs on Unregulated Cryptocurrency Businesses

11 Nov Colorado State Cracks Downs on Unregulated Cryptocurrency Businesses

Posted at 19:20h in Cryptocurrency News by

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Colorado’s state Division of Securities issued a cessation order to four cryptocurrency firms for issuing unregistered securities through Initial Coin Offerings (ICO). So far, the state’s Securities Commissioner has issued cease and desist orders to twelve ICOs for the same offense.

Four Cryptocurrency Companies Ordered to Stop Unregistered ICOs 

According to a publication on the regulator’s website, the State’s Division of Regulatory Agencies (DORA) instituted an “ICO Task Force” in May to probe possible fraudulent projects aimed at cryptocurrency investors. These recent orders issued to Bitcoin Investments, Limited, Prisma, PinkDate, and Clear Shop Vision Limited are based on the findings of the ICO Task Force.

The four firms are allegedly offering unregistered securities to citizens of the state. In the publication, the securities regulator highlights the alleged fraudulent activities of the four companies.

The Division alleges that the companies offer an…

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