[Blockchain Today Reporter Seo-yeon Jang] Texas regulators in the United States regarded their cryptocurrency investment plans as a risk factor, and continued public warnings to Main Street investors about potential cryptocurrency-related scams during the COVID-19 pandemic.
According to Cointelegraph reports, on the 15th (local time), the Texas Securities Commission (TSSB) issued an emergency suspension and abolition order against the group that abused the Binance name.
According to the announcement, the subject of the suspension order has already received advisory warnings from the Philippine securities regulators and claims to operate in the UK. The Commission previously warned the public to be cautious, saying, “Delta Crypt is illegally offering securities that pay outrageous profits.”
Since then, the company abandoned its name “Delta Crypt” and started investing online, but it was not registered to sell securities in Texas. It launched an online investment plan using misleading brands such as Binance Assets, BinanceAssets Ltd, and Bit Kind Ltd.
The committee said, “The proposal is relatively simple. It means that there is little investment, high returns, and no risk. In fact, the’Gold Plan’ guarantees 30% of the profit, and the’Diamond Plan’ guarantees 40% of the profit.”
TSSB said these services are fraudulent and deceptive, and “we have found that Delta Crypt has hidden key information, including prior intervention by Philippine government agencies.” In addition, he explained, “The group did not warn investors of the risks related to cryptocurrency investment, and has illegally requested sales agents.” The latter part means that it is a business that promises to pay fees without registration requirements or licenses.
It is reported that the TSSB is relatively active in punishing fraudsters in the cryptocurrency world, such as ordering two fraud charges in September 2020.
contact@blockcast.cc
