Texas State Securities Board Flags 15 Investment Entities Including One Unregistered Crypto Trader

The Texas State Securities Board (TSSB) has announced a series of enforcement actions against 15 online investment entities that illegally market cryptocurrency, binary options, and forex investments in Texas. Fake Social Media Accounts The regulator alleges that operators of the companies are using their social media skills as well as the internet to mask the fraudulent nature of their operations. The emergency enforcement order, therefore, stops the flagged companies from continuing to operate from the state of Texas until they get a license from the regulator. Meanwhile, in his comments…

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Rapper Dismissed of Securities Fraud Charges for FLiK ICO

On March 3, District Judge Charles Pannell dismissed a lawsuit claiming securities fraud charges against rapper ‘T.I.’ for selling FLiK tokens for his company’s initial coin offering (ICO) during August 2017. The judge failed to find concrete evidence of securities violations or negligent misrepresentation as T.I. made no claims regarding the value of the FLiK tokens: “The plaintiffs have merely alleged that Harris encouraged his Twitter followers to visit the website for the FLiK ICO. They have not provided any statements from Harris about the value of the FLiK tokens.…

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