Texan regulators have, for some time now, viewed cryptocurrency investment schemes as a risk to Main Street investors, and have continued to issue public warnings against possible crypto-related scams during the COVID-19 pandemic.
The latest move from the Texas State Securities Board, or TSSB, is action not words — an emergency cease and desist order against an entity misappropriating the Binance name.
According to an announcement on March 15, the target of the order is a business claiming to operate from the United Kingdom, which has previously been subject to an advisory warning from securities regulators in the Philippines. They had already warned that Delta Crypt was “illegally offering securities paying ‘ridiculous’ returns,” cautioning the public to stay away.
Since then, the business has apparently ditched its erstwhile name “Delta Crypt,” and launched an online investment scheme — while not being registered to sell securities in Texas — using various…