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The promise was apparently too good to be cashed: My Crypto Mine attracted investors with pbadive income, lucrative profits and yields of 10 to 20% per month. However, as shown by the state of the order to cease and abstain in Texas, the promises had no valid basis. My Crypto Mine promised a "no risk" investment without giving details of the project.
The promise was also extremely vague. Apparently, he said on the homepage that the cryptocurrency of the start-up were acting and also mint However, she does not say if and which of the many cryptocurrencies she was scratching or if she would issue his own token. As stated in the resolution, the Texas agency now finds that the company deliberately concealed information from investors. In doing so, it should be emphasized in such projects that investments in cryptographic currencies involve significant risks.
The initiator was already known for his questionable business
Mark Royer, the manager of My Crypto Mine, had already noticed questionable business models. With two friends, he issued the Bitqy token. This promise similar to the current mining project "mbadive growth". Disillusionment soon followed. Instead of Royer's $ 3 per chip, he lost 99% in mid-November. The price of a token was therefore 0.000527 USD.
The Texas State Securities Board has now ruled that the respondents had violated several sections of the Texas Securities Act. As a result, My Crypto Mine was forced to immediately stop selling securities in Texas until it was registered with the Securities Commissioner. Respondents now have 31 days to request a written hearing before the badignment becomes final.
BTC-ECHO
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