![\"Texas](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2021\/03\/tx-crypto-768x432.jpg\")
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The Texas securities commissioner has entered emergency cease and desist orders to stop three cryptocurrency investment platforms from duping investors in the state. One scheme operates under the name \u201cBinance Assets.\u201d The regulator has found that all three platforms are fraudulent.<\/strong><\/p>\n Texas Securities Commissioner Travis J. Iles entered a pair of emergency cease and desist orders Monday targeting three unregistered online cryptocurrency investment platforms. They are Delta Crypt Ltd. (also known as Binance Assets), Fxsmart Robots, and Digitaly Invest. The latter is not the same company as Digital Invest or Digitally Invest.<\/p>\n The commissioner\u2019s order emphasizes that none of the platforms is registered to sell securities in Texas and their investment plans are not registered or permitted for sale in the state.<\/p>\n The Philippine Securities and Exchange Commission previously issued a public advisory order against Delta Crypt, which claims to be a legit U.K.-registered business. The Southeast Asian regulator warned that the company \u201cwas illegally offering securities paying \u2018ridiculous\u2019 returns,\u201d urging the public \u201cnot to invest or stop investing in any scheme offered\u201d by Delta Crypt, the Texas order describes, elaborating:<\/p>\n Following the issuance of the prior warning, Delta Crypt allegedly removed its website and instead of shutting down operations began a new online investment scheme \u2013 this time acting under the names Binance Assets, Binanceassets Ltd. and Bit Kind Ltd.<\/p>\n<\/blockquote>\n The company now advertises a variety of cryptocurrency investment plans. For example, the Gold Plan pays a guaranteed 30% return and the Diamond Plan pays a guaranteed 40% return.<\/p>\n The Texas commissioner\u2019s order found the crypto offering by Delta Crypt to be \u201cfraudulent and deceptive.\u201d It accuses the company of \u201cconcealing important information about its principals, the warning from the Philippines government, and the risks associated with cryptocurrencies.\u201d In addition, \u201cDelta Crypt has been illegally soliciting sales agents, promising to pay commissions regardless of registration or licensure,\u201d the order states.<\/p>\n <\/ins> <\/ins> <\/p>\n The second order names Digitaly Invest and Fxsmart Robots, two investment schemes whose websites are almost identical. The two platforms similarly offer investment plans with guaranteed returns, including the Gold Plan, which pays a guaranteed 30% return, and the Diamond Plan, which pays a guaranteed 40% return. Both websites claim to offer cryptocurrency trading.<\/p>\n Noting that the claims made by the two platforms are found to be fraudulent, the Texas securities commissioner explained:<\/p>\n The parties are allegedly concealing important information \u2013 including the identity and qualifications of principals, material financial information, and the significant risks associated with the underlying products.<\/p>\n<\/blockquote>\nTexas Seeks to Stop 3 Crypto Platforms Operating in the State<\/h2>\n
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