Texas Issues Cease-and-Desist over LeadInvest

Panama-based cryptocurrency firm is alleged in promoting unregistered securities targeting the U.S. state's residents
27 February 2018   115

According to a CoinDesk, the Texas State Securities Board (TSSB), a local financial watchog, issued a new cease-and-desist order on Feb. 26 to a cryptocurrency firm from Panama named LeadInvest.net.

State financial regulator sees the firm's cryptocurrency mining and trading programs as unregistered security offerings. LeadInvest also alleged in using fake stock images to portray its team members.

The watchdog states that the company's website and promotions have allegedly been making deceptive and misleading statements when targeting Texas residents - promising 20 to 100 percent returns on investments within one to three months through the firm's cryptocurrency mining and trading services.

The TSSB further says that the photos of the company's staff are stock photographs of models that can be found on the web or are images of other individuals with no connection with the company.

The regulator states that, as of Feb. 26, the firm has raised over $177 million from over 190,000 accounts.

Monetha is about to release first version of its wallet app

Monetha's MVP to be released on March 21 exclusively for MTH holders in order to make a significant step towards fully working decentralized trust and reputation system
23 March 2018   71

Starting from March 31 all of MTH token holders will gain exclusive access to Monetha wallet app - the MVP of the project. The release is considered to be Beta release, and approximately 10,500 of the users of the platform will become the first to test out the product. The app will be available on both iOS and Android.

The wallet itself is based on smart contracts and features

  • making/solving claims;
  • rating merchants;
  • writing reviews;
  • review of purchase history;
  • see clients' and merchants' trust ratings

The integration with Monetha through the app will allow merchants to accept Ethereum based tokens as a payment and then easily convert cryptocurrency into fiat currency. Monetha's mission is 'to develop and deploy the best transaction system that would be based on enforceable contracts without third party between consumer and merchants and a strong decentralised reputation management system'. Its solution is going to be universal, transparent, self-executing and transferable.

To the moment of the publication, Monetha's market parameters are as follows:

Average price: $0.102597

Market cap: $22,274,083

Volume (24): $435,208