Texas Securities Regulator Issues Cease-and-Desist Order

A state securities regulator in Texas issued another cease-and-desist order against a Hong Kong-based “R2B Coin”
02 February 2018   467

A state securities regulator in Texas issued another cease-and-desist order against a Hong Kong-based “R2B Coin”

The Texas Securities Commissioner issued an Emergency Cease and Desist Order. The order was released on January 24, 2018 by Securities Commissioner Travis J. It explains that Hong Kong-based firm R2B Coin issued unregistered securities providing false information to Texas residents.

The securities regulator stated that the company’s offering, which is being promoted by misleading information, falls under the definition of securities.

As it is indicated on the R2B website the start price of the coin is ranging from $0.008 to $188. The website claims that R2B coins will reach $200 within three months after the start of trading.

According to information on the website, the company claims to be globally licensed. However, the Texas regulator informed that R2B is not registered in its jurisdiction and has violated securities regulations by soliciting investors from Texas through a series of conference calls.

According to the document, the company claimed to have 14,500 investors from 34 countries including U.S., Sweden, Italy, and India. The company also made misleading promises, for example, that investors can change their tokens for stocks at New York or Hong Kong exchanges.

This is the third state’s cease-and-desist against a crypto company. Previously, The Texas Securities Commissioner issued similar orders to Dubai-based USI-Tech and BitConnect.

Mt. Gox Trustee Can Sell 2000 BTC Soon

Possible sale of such a large batch can lead to a further fall of the bitcoin price
26 April 2018   167

Head of the Board of Trustees of MtGox, Nobuaki Kobayashi, is probably preparing to sell a new batch of bitcoins, this time at a rate of 2,000 BTC.

This assumption was made by the bitcoin-investor and the head of the Altana Digital Currency Fund, Alistair Milne. In support of his words, he brought to Twitter a link to the trustee's MtGox address.

Alistair Milne Twitter
Alistair Milne Twitter

Apparently, on the morning of Thursday, April 26, from the address indicated, 2,000 were transferred to another address. Some of the funds that were there before (8,000 BTC) were almost immediately expended.

Possible simultaneous sale of such a large batch can lead to a further drawdown of the bitcoin price.

Bitcoin Price Chart
Bitcoin Price Chart

Trading on Wednesday evening at around $ 9,000, on the night of Thursday, the first crypto currency continued the decline started yesterday, dropping at a certain point to $ 8,650. At the time of publication, however, there has been a slight increase - according to Coinmarketcap, the weighted average bitcoine rate at that time is $ 8 790.