Texas: Administrative Order Entered for 16 Crypto Scams

The Texas State Securities Board have recently entered 16 administrative orders for 16 cryptocurrency scams. The state regulator then confirmed, “The emergency action effectively shut down the scam, as BitConnect almost immediately lost 99% of its market capitalization of $2.6 billion. None of the individuals or firms was registered to sell securities in Texas.”

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Texas: Administrative Order Entered for 16 Crypto Scams

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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