New Jersey Officials Issue Cease-and-Desist Order

The Bureau of Securities and the Attorney General  issued an emergency order in order to stop Bitstrade, an online cryptocurrency investment fund  
12 February 2018   927

New Jersey attorneys have sent a cease and desist letter to a cryptocurrency investment fund called Bitstrade. This firm claimed that it is registered U.S. financial startup. It offers digital asset banking services. According to New Jersey officials, this firm unlawfully provided investors unregistered securities in the form of a pool that claims to guarantee up to 10 percent returns.

The Bureau of Securities and the Attorney General have found that Bitstrade is not registered to sell securities in New Jersey and does not guarantee investment profit. Attorney General Gurbir S. Grewal stated that this firm was managing and selling securities unlawfully. He also added that the Bureau wants to protect investors and remind them to be extra vigilant about fully vetting what is being sold before investing in cryptocurrency.

We want to make sure that investors tempted to cash in on the cryptocurrency rage aren’t being lured into sending funds to an anonymous internet entity without knowing where the funds are going or how they’ll be used.

Gurbir Grewal 

New Jersey’s Attorney General

More than that, Bitstrade is violating the law by failing to disclose to prospective investors the names of its executive officers, the address of its principal office, information about Bitstrade's financial condition. The firm even did not inform how it invests investors’ money.

New Jersey’s officials plan to regulate cryptocurrency asset industry more due to a high risk of fraud.

Craig Wright to Claim to be Satoshi Again

He explained that the false information surrounding Bitcoin and blockchain-derived systems made him come out of the shadows
18 February 2019   46

A senior researcher at nChain, Craig Wright, sent the Commission on the US Exchange Commodity Trading (CFTC) introductory information on cryptocurrency mechanics in response to a request from the Office. But even in the official document he did not miss the opportunity to remind everyone that it was he who allegedly was the creator of Bitcoin Satoshi Nakamoto.

My name is Dr. Craig Wright and under the pseudonym of Satoshi Nakamoto I completed a project I started in 1997 that was filed with the Australian government in part under an AusIndustry project registered with the Dept. of Innovation as BlackNet. Ethereum is a poorly designed copy of bitcoin designed with the purpose of completing the promise of smart contracts and scripting that were delivered within bitcoin but which were hobbled by the core developers of bitcoin who sought to enable anonymous transactions to exist within the system. 

Craig Wright


Earlier in February, the “self-proclaimed Satoshi Nakamoto” announced that he possesses a patent, allegedly capable of restricting the right to issue JPM Coin.

In October 2017, Craig Wright made a mistake confirming that he was not Satoshi Nakamoto.