Texas regulators are going after a host of crypto firms they allege to be investment scams, 10 of which they say are are controlled by a single Texas man.
The Texas State Securities Board on Thursday ordered 15 firms to cease and desist operations with a series of emergency orders against crypto, forex and binary options hubs that purport to be based in Texas.
Ten firms 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. Regulators say one man, James Blundell, pumped all 10 on social media.
Three are named in the second: Binary Trade Forex, FX Trades and IQTrade. Regulators say the trio are not registered to sell securities in Texas. They’re peddling highly lucrative, low risk investing options – at least according to the customer testimonials, which TSSB alleges are fake.