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Texas Securities Regulator Refrained 4 Firms From Offering Crypto Tokens.

In line with the recent official ‘announcement‘, securities regulator in Texas have revealed that it had reached to an agreement with four cryptocurrency firms accused of trading unregistered securities.

The outcome of a nine-month process, Mintage Mining, B.C. Holdings and Investments, Social Membership Network Holding, Nui Social and manager Darren Olayan in an agreement agreed to refrain from providing crypto tokens to investors.

As respondents listed within the order, the entities will pay a fine of around $25k USD.

Earlier in July last year, the Texas SSB [State Securities Board] ‘pointed‘ token offerings by the businesses as falling underneath the definition of securities, in line with native legislation.

The newest order confirms the findings, and needs no additional activity to take place till appropriate licensing and documentation are collected. The order was signed by all the named respondents.

This move constitutes the foremost recent conclusion for the Texas SSB in its  progressive limitation on unregistered securities sales by the rising cryptocurrency sector. As ‘reported‘ earlier, bad actors within the ecosystem subject to intense scrutiny, mirroring a nationwide operation by the U.S. Securities and Exchange Commission [SEC].

Just earlier this month, the Texas SSB ‘stated‘ that it had issued a complete of sixteen orders to business players in 2018 that it identified of being scams.

They included ‘BitConnect‘, the alleged ponzi scheme that presently forms the main focus of a combined FBI [Federal Bureau of Investigation] operation.

“The orders cited a list of around 60 people and entities,” the regulator ‘added‘ in its yearly roundup, mentioning:

“None of the people or companies were registered to sell securities within Texas.”

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