Colorado securities regulator issues cease-and-desist orders against four more ICOs

The Colorado Division of Securities, Colorado’s financial watchdog, announced that it had signed orders against Global Pay Net, Cred LLC, CrowdShare Mining, and CyberSmart Coin Invest for selling unregistered securities in the state. Colorado Securities Commissioner Gerald Rome has now signed a total of 18 orders against ICOs offering unregistered securities in the state of Colorado, with at least two more orders pending. “The sheer number of orders entered against ICOs should be a red flag to all investors that there is a real risk that the ICO you are considering is a fraud,” said Commissioner Rome. “Our investigations show that there are fraudsters who will simply create a fake ICO to steal investors’ money, or spoof a legitimate ICO to trick investors into wrongfully paying them.” As of the time of this writing, the websites of CyberSmart Coin Invest and Cred LLC have been shut down. (Source: Colorado Department of Regulatory Agencies)

 

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Colorado securities regulator issues cease-and-desist orders against four more ICOs written by Steven Zheng @ https://www.theblockcrypto.com/tiny/colorado-securities-regulator-issues-cease-and-desist-orders-against-four-more-icos/ November 21, 2018 Steven Zheng

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