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   422

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.

Wilsons Auctions to Sell Crypto

$390 000 worth cryptocurrency was seized by the enforcement agency of Belgian government
22 February 2019   86

On February 28, the North Irish auction house Wilsons Auctions will sell the cryptocurrency seized by the Belgian government in the case of drug trafficking through darknet. The total value of the coins sold will be approximately $ 390k. This is reported by the Financial Times.

A total of about 315 coins without a reserve price, including 104.99 BTC, BCH and BTG, will be put up for online auction. Assets will be sold in several lots from 0.5 BTC to 4 BTC each. Lots for BCH and BTG will contain more coins.

We are thrilled to be awarded this first of its kind contract with the Belgium Federal Government to sell seized cryptocurrency, allowing us to open up the opportunity of investing to new buyers. Following huge investment into our systems and infrastructure, we are able to offer government and law enforcement agencies worldwide, a secure solution so that the ever-increasing problem of seized cryptocurrencies can be managed by a reputable auction company with significant experience dealing with seized assets.
 

 Aidan Larkin

Head of asset recovery, Wilsons Auctions

The bitcoins put up for auction were seized back in 2017 by the Belgian police from drug dealers. The Belgian government took time to enact laws governing the liquidation of confiscated digital assets, similar to the traditional financial industry.

Recall that in early January, Wilsons Auctions held the first online auction for the sale of 167.7 Monero coins, seized by law enforcement agencies in the United Kingdom in accordance with the Law on Income from Criminal Activities.