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- Cryptocurrency fraudulent platforms are also increasing, like the prices
- Texas Securities Commissioner has entered a couple of cease desist orders against fraudulent cryptocurrency trading platforms
- The commissioner has flagged Delta Crypt Ltd, Fxsmart robots, and Digitaly Invest to stop operation in the state
Cryptocurrency prices are performing tremendously in comparison to other traditional assets. Following the roaring prices, many around the world are willing to enter the market. Where the number of crypto traders is increasing, the number of trading platforms is also soaring. Among many platforms, it’s getting a tedious job to find a trustworthy trading program. Following such platforms, Texas Securities Commissioner Travis J. lles entered an emergency cease and desist order on Monday.
Which cryptocurrency trading platforms will be ceased in Texas?
Three cryptocurrency trading platforms are expected to cease operating in Texas. Travis has entered a couple of emergency cease and desist orders targeting Delta Crypt Ltd, Fxsmart Robots, and Digitaly Invest. The ruling emphasizes that no platforms among the flagged ones are registered or permitted to operate in the state.
Delta Crypt launching new fraudulent schemes
Delta Crypt received a public advisory order from the Philippine SEC. The order claimed to be a legit United Kingdom registered firm. The regulator also warned that the firm is offering illegal securities paying ridiculous returns, and urging individuals to invest.
Following the aforementioned facts, the Texas order elaborated that following the issuance of the prior warning, Delta Crypt removed its official site. And instead of shutting down its operations, it began a new scheme acting under the name Binanceassets Ltd. and Bit Kind Ltd.
Digitaly Invest and Fxsmart Robots concealing information
Digitaly Invest and Fxsmart Robots are two different cryptocurrency investment schemes. Both of the platform’s official websites have been almost identical. Both platforms offer similar plans with guaranteed returns. Both the investment platforms also provide a Diamond plan which claims to pay 40% returns. According to Travis, all the claims of the platforms are found fraudulent.
Travis explained that the parties are allegedly concealing significant data. Such data includes the identity and qualifications of financial information and risks associated with underlying products. However, in the current scenario where many trading platforms are available, it seems too challenging to find a platform where our hard-earned money will remain safe.
