The State Securities Board has taken emergency actions to stop the offering of investment opportunities in the crypto mining sector and ICO Tokens.
Apparently, the state has seen a rise in fraudulent companies offering investment opportunities without being regulated to make the offers.
The commissioner of the Securities Board Mr. Travis J. lles stated that the board is investigating all cryptocurrency companies that are not properly regulated to offer investments.
A Utah based company Mintage Mining LLC along with 4 other firms operating in Texas are being investigated by the Commissioner and his staff.
The Board has ongoing investigations into ICO Tokens being sold to Texas residents. Mr. lles said, the companies offering these ICOs Tokens are making untruthful claims and not providing investors with accurate information.
Mr. lles claims that the information being provided to investors about ICO Tokens is false and extremely misleading, causing some Texas residents serious financial loses. The board is hoping their latest emergency action will stop the fraudulent activities and allow registered cryptocurrency companies to operating under Texas laws without future problems.