16 Scam Projects Shut Down In USA
Financial regulator of Texas state shut down several financial pyramids, including BitConnect, capitalization of which exceeded $2.4 billion at the peak.
Texas State Securities Board (TSSB) shut down 16 scam crypto currency projects in 2018, including BitConnect financial pyramid. The regulator representatives claimed that the scammers distributed unregistered securities, attracting the users with the help of various investment schemes, reports Cointelegraph.
The scammers use Internet anonymity and social networks to contact the investors is Texas, told TSSB.
The regulator actively cooperates with law enforcements to bring the guilty parties to responsibility. Some of American states took a tougher line towards digital money under the pressure of U.S. Securities and Exchange Commission (SEC).