Three Crypto Promoters That US Regulator Issues Cease Orders Against

Karen Tyler North Dakota Securities Commissioner has issued and stopped orders against three companies for allegedly offering unregistered and fake securities in the form of the Initial Offer of Parts (ICO), according to a statement released on October 11.

The companies at the center of the order are Crystal Token, Advertizes Holdings (Pty) Ltd. and Life Cross Coin a / k / a LifecrosscoinGmbH. According to the statement, the Crystal Token (CYL) is the ERC-20 "Scalable Multiuser" token, which promises gains up to 2% per day. The Token website contains false claims about "overly unjustified" return on investment. CYL is not allowed to sell securities in North Dakota.

Advertizes Holdings offers a cryptocurrency known as "Tizacoin" or "TIZA" and claims that owners "can expect to benefit from TIZA chip valuation." This, according to the regulator, suggests that the description of the tag as a user token is inaccurate and fairly safe.

According to the North Dakota securities division, Advertise mistakenly claims to be registered with the US Securities and Exchange Commission (SEC) and may not sell securities in North Dakota.

The third company, Life Cross Coin, operates from a Berlin IP address associated with identity fraud, malicious software, and identities, and offers a cryptocurrency called "Life Cross Coin" or "SFR." The company says that the token will then be that investors can claim to get a "huge return on investment." LICO is not registered in North Dakota, and its position contains unsubstantiated claims and misrepresentations. Tyler commented on the orders:

"Continuing to exploit crusader ecosystems by financial criminals is a major threat to investors on Main Street. In one formula, financial criminals benefit from hypersensitivity and excitement of blockchains, cryptographic assets, and ICOs - investors should be very careful when considering related investments."

The order is part of the Cryptosweep operation, coordinated by multiple court investigations of potentially fraudulent cryptographic investment programs involving 40 securities regulators from the United States and Canada. Since launching the initiative in May, investigators have discovered about 30,000 cryptography domain names and carried out more than 200 OIC investigations.

In May, the Colorado securities trustee initiated investigations into two companies - Linda Healthcare Corp, headquartered in California and Broad Investments LLC, headquartered in Washington - to promote the unauthorized ICO.


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