I would like to state, that the below are my own thoughts and opinions about these cases.
Description of the Texas Securities Board.
Is an agency focused on protection of the investors from Texas state, headquartered in Austin (Texas). In other words, they protect people from a state from some doubtful investments from 1957. They also emphasis on prevention and detection of fraud.
Now, these guys are not stupid and yes, there are people to protect from investing in general. There are people non capable to invest securely at all. We could see these investing in Bitconnect without any research, question, doubt, only based on the things seen in media. It is important to have such of agencies, because in the real life, they can protect some of the citizens/investors.
Davor, USI-Tech, BitConnect and others.
In these cases there was an Emergency Cease and Desist Order against all of these three companies, from which we know, BitConnect, stopped their lending operation and they "paid out" their investors. USI-Tech solved their issue, or it is in progress to completely solve and return to the United States and Canada. Davor Coin (yes Davor Coin) has the same case of emergency of cease and desist (see below; links: https://www.ssb.texas.gov/news-publications/davorcoin-latest-cryptocurrency-platform-hit-order and https://www.ssb.texas.gov/sites/default/files/ENF-18-CDO-1757_0.pdf) They have to do the same as USI-Tech did (they went in and started to clarify), or to change their lending structure, their customer base, operation, etc.
It is not easy to predict what will going to happen, we have to wait for Davor's announcement. In case if they would finish to operate in the United States and Canada, then who knows which country will be the next to raise their words against Davor. There has to be a clean objective in Davor's mind and in all other lending platforms, (BankCoin finished their lending operation today, refunding in dollars, which you could convert into Bank Coins) how to turn their operation into something similar, but based on cryptocurrency. Stake, lotto, exchange, whatever what other money maker operation customers will get paid.
Personally I really hope, that there will be a solution for all of the lending platforms and they can finally come out to the light by offering people "legal" returns on their investments. Regarding Davor, I think they should stop their operation in the US and to turn to the rest of the world. It is not easy though, they have many investors from the US. Somehow they have to refund them, I really hope they can. They are smart enough and they will have a brilliant solution.
To be honest and again, this is my own opinion, a state where I pay taxes in, living by the rules, I can't accept, that someone tells me not to spend money on this or that. It is my own taxed money, it is my will to invest in Tamagochis, or whatever what. They can bring these things to my attention, but there's no way, they can tell me where to spend my money. Is this freedom or what?
Again, don't get me wrong and I really feel sorry for the losses of BitConnect, but if someone is that stupid to invest like a dumb into something like BitConnect was/is, then that person won't be saved by any state's justice. We all know, that we never invest more, than we can afford to lose, there are always rule breakers. I didn't lose on BitConnect, I didn't earn too much though, but I've never had illusions about getting rich from BitConnect. I could, but nnah!
Conclusion
Whatever the result will be, I hope that at least one of these companies will show the way how to manage issues like this!
Whatever who tries to stop dumb people to invest, they will. They will invest even with bans, stops, laws etc. and they will be demolished in the world of "money"! Therefore, I would suggest to Texas state and in general to every country, to start to invest in education for the masses about money, instead of paying expensive lawyers to rule people's will to invest in something. Education for free to be familiar with things of how to invest, what to look at, how to evaluate a business we are about to invest in, etc. Educate them about loans, what that mean for people in long term, how to avoid them (loans) and really provide a ground of prosperity for these people. And this should be done from early ages throughout their education like an obligatory element to learn. Don't worry! Don't run to your nearest college! There won't be any courses! Why? Because these guys don't want you to understand Money. You have to do it yourself, start to learn, start to have mentors and people who you look up to in terms of money. Start, build a base knowledge, then build further on that base. This is the same with the cryptocurrencies: learn first!
I hope you liked it, more will come!