Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Colorado Crackdown Continues With More ICO Cease and Desist Orders

by Abdulla Al-Fadhala
November 22, 2018
in HodlX
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
HodlX Guest Post  Submit Your Post
 

The Colorado State Department of Regulatory Agencies (DORA) has ordered that another four ICOs cease and desist as they are breaking the law. Global Pay Net, Cred, CrowdShare Mining, and CyberSmart Coin Invest must now close down immediately as they have been deemed to be in breach of the Colorado Securities Act.

The news follows a press release from November 20th which revealed that Colorado Securities Commissioner Gerald Rome is taking action against a total of 18 ICOs in the state. The state is cracking down on Initial Coin Offerings following an investigation in May, which was led by Colorado’s own “ICO Task Force”. In the release, Rome is quoted as warning investors and companies alike, “The sheer number of orders entered against ICOs should be a red flag to all investors that there is a real risk that the ICO you are considering is a fraud. Our investigations show that there are fraudsters who will simply create a fake ICO to steal investors’ money, or spoof a legitimate ICO to trick investors into wrongfully paying them.”

It is often relatively simple for a regulatory body to red flag an ICO. Global Pay Net, for example, listed two people as experts involved in the ICO who denied all knowledge of the company. Furthermore, the company’s contact number on the website had been disconnected. This constitutes enough evidence for DORA to issue a cease and desist order.

Another sign to look out for is a bold claim about massive returns on investment. CrowdShare Mining claims that investors at ground level will be able to gain 1000% percent return from year 4, which would constitute an incredible growth in company fortunes. Many state regulatory bodies, as well as national publications, have warned the general public about the risk of such claims. Indeed, the Securities and Exchange Commission (SEC) set up HoweyCoins.com in May 2018. The site demonstrates several hallmarks of fraudulent ICOs, in an effort to educate the general public to be more aware of the signs of potential fraud.

CyberSmart Coin, another of the ICOs ordered to cease and desist, show one such sign themselves. They claim to have secret methods for making a profit. This, as the SEC has said, is another sign that an ICO is fraudulent. It is better for members of the public to be able to see a clear mechanism via a detailed roadmap. Additionally, if you are looking to invest in an ICO, you should check that the listed people are contactable and have solid backgrounds in the cryptosphere. Another positive sign to look out for is a well-known investment. Again, you should be able to verify this before you invest.

Colorado is not the only state to move against ICOs, and there will be more as we move into 2019 and regulators move to legitimize the market.

 
Check Latest Headlines on HodlX


Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
  • What’s the Role of Bots in Crypto Trading?
    December 3, 2020
Submit a Guest Post
Bitcoin
$35,827.00
$35,827.00
2.04%
Ethereum
$1,387.61
$1,387.61
4.54%
XRP
$0.291943
$0.291943
1.68%
Litecoin
$152.69
$152.69
3.84%
Bitcoin Cash
$507.60
$507.60
3%

Spotlight

  • Crypto Whale Reveals Bitcoin and Ethereum Predictions for 2021, Names 10 Altcoins To Watch
    January 12, 2021
  • Crypto Whale Moves $1.1 Billion of Ethereum-Based Asset SNX, Pays Just $7.45 in Fees
    January 16, 2021
  • Crypto Strategist Names Altcoins Picks for 2021, Says Bitcoin Boom Unlikely to Lift All Assets
    January 13, 2021
  • DeFi and the Bitcoin Bull Run Trajectory: CoinGecko Report
    January 17, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.