On Friday, Texas' securities board issued its fourth emergency cease-and-desist order in just over a month on a cryptocurrency company.
The orders follow a roughly one-month undercover investigation of cryptocurrency investment programs, said Joseph Rotunda, director of the enforcement division at the Texas State Securities Board.
Other states have not yet taken as dramatic steps against cryptocurrency fraud.Texas is becoming one of the most active regulators of cryptocurrencies.
On Friday, the state's securities board issued its fourth emergency cease-and-desist order in just over a month on a cryptocurrency company.
DavorCoin is violating sections of the Texas Securities Act by offering unregistered securities for sale and misleading the public, Securities Commissioner Travis J. Iles said in Friday's order.
The Texas State Securities Board previously issued emergency cease-