The Colorado Securities Division has released another batch of orders for cessation and rejection of supposedly fraudulent proposals for the initial placement of crypto coins (ICO), – colorado.gov
On Tuesday, November 20, the US Securities Commissioner, Gerald Rome, signed four new orders against Global Pay Net, Cred (business as Credits LLC), CrowdShare MiningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details and CyberSmart Coin Invest.
The prohibition to implement the ICOICO
(Initial Coin Offerings) is an acronym, which means a primary currency offer. Details was received by those companies that, according to the "Securities Division", were not reliable and sufficiently backed up by real facts, reporting, and strategies.
The ICO was denied to: "Companies that allegedly posted "fraudulent statements" on their sites with unverified data, false promises, claims of excessively high levels of profits and dividends, with insufficient information and misrepresentation of facts." – Colorado Securities Division.
Given the new four bans, the total number of rejections signed against the ICO in Colorado has reached eighteen. Prohibitions are implemented on the basis of the Colorado Securities Law, which began to operate in May this year.
"The huge number of prohibitions imposed against ICO should become a red flag for all investors (...) there is a real risk that the ICO you are considering is fraudulent (...) Our research shows that there are crooks who simply create a fake ICO to steal investors' money or counterfeit legally approved ICO (...)" – Gerald Rome, Commissioner for US Securities in Colorado.
Earlier this month, Gerald Rome signed the well-known renunciation of Bitcoin Investments, PinkDate, Prisma and Clear Shop Vision.
Other US government regulatory authorities are also increasingly taking measures against what they consider illegal sales of tokens. For example, on Monday, the North Dakota securities regulator issued a decree to suspend and reject the apparently fraudulent Russian ICO, which posed itself as a Liechtenstein bank.
Editor: Yuliya Soroka