Texas Issues Orders to Stop ‘Binance Assets’ and 2 Other Fraudulent Crypto Investment Platforms


The Texas Securities Commissioner has declared a state of emergency, refusing orders to stop three cryptocurrency investment platforms from scamming investors in the state. One of them operates under the name Financial Assets. The regulator has determined that all three platforms are fraudulent.

Texas wants to ban 3 cryptocurrency platforms from operating in the state

Travis J. Dickinson, commissioner of the Texas Securities Commission. Ilse on Monday issued a pair of urgent strike orders against three unregistered online cryptocurrency investment platforms. These 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.

The commissioner’s order notes that neither platform is registered to sell securities in Texas and their investment plans are not registered or licensed to be sold in the state.

The Philippine Securities and Exchange Commission has already issued a public notice against Delta Crypt, which claims to be a legitimate company registered in the UK. Southeastern’s regulator warned that the company was illegally offering securities by paying ridiculous returns and urged the public not to invest or invest in any system offered by Delta Crypt as described in the Texas order :

After Delta Crypt received a preliminary warning, it reportedly took down its website and instead of ceasing operations, launched a new online investment program – this time under the names Binance Assets, Binanceassets Ltd. and Bit Kind Ltd.

The company is currently promoting several investment plans in cryptocurrency. For example, the Gold Plan offers a guaranteed return of 30% and the Diamond Plan offers a guaranteed return of 40%.

In its order, the Texas Commissioner found that Delta Crypt’s cryptocurrency offering was fraudulent and deceptive. It accuses the company of withholding important information about its executives, a warning from the Philippine government and the risks associated with cryptocurrencies. In addition, Delta Crypt illegally approaches sales agents by promising to pay commissions regardless of registration or license, the order said.

The second order names Digitaly Invest and Fxsmart Robots, two investment programs with nearly identical websites. Both platforms also offer investment plans with guaranteed returns, including the Gold plan, which offers a guaranteed return of 30%, and the Diamond plan, which offers a guaranteed return of 40%. Both sites claim to offer cryptocurrency exchanges.

The Texas Securities Commissioner noted that the claims of both platforms appeared to be fraudulent:

It is assumed that the parties withhold important information, including the identity and qualifications of management, important financial information and important risks related to the underlying products.

How do you feel about Texas issuing orders to stop these fraudulent cryptocurrencies? Let us know your comments in the section below.

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