NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

DavorCoin:Texas State Securities Issues Fourth Emergency Cease-Desist

newsbtc
newsbtc
4 years ago
2 mins read
texas

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Texas’ securities agency has issued another cryptocurrency related emergency cease-and-desist order, this time against DavorCoin. In the latest filing, signed late last week, the Texas State Securities Board (TSSB) alleges the company has been issuing unregistered securities with fraudulent and misleading information designed to lure and dupe investors.

What happened? DavorCoin launched a lending program that promised investors a significant return on investment, which falls under the agency’s definition of unregistered securities. The TSSB also alleged that the project is an investment fraud, because the company had intentionally hidden material information regarding its business, such as its location, as well as how it plans to realize investment promises for investors — who were solicited through websites, social media, and online advertisements.

According to the document, potential investors would need to purchase the project’s token using other cryptocurrencies. The company’s promises were detailed as follows: “At approximately 5:30 p.m. CST on Jan. 26, 2018, it [DavorCoin] represented that an investor lending $30,000 in DavorCoin who elects a ‘Locking period’ of 120 days may earn $513 per day, $3591 per seven days, $15,390 per 30 days and $107,217 as of the ‘capital release day’ of August 23, 2018.”

This most recent order yet again indicates the increasing level of focus Texas’ securities agency is giving to cryptocurrency-related investments. The agency maintains that its mandate is not to seek to regulate cryptocurrencies, but that it will continue monitoring cryptocurrency projects that aim to bring returns to investors.

In fact, DavorCoin appeared to step up marketing of its lending program following the closure of another cryptocurrency lending platform, BitConnect. On January 4th, TSSB Commissioner Travis J. Iles entered an emergency cease and desist order to stop the company’s “illegal and fraudulent offers of a different lending scheme.” He also warned would-be investors about investing in cryptocurrency-backed programs “without determining exactly what they are investing in.”

The agency also has been scrutinizing others as well: The DavorCoin order is the fourth emergency action against unregistered, overseas companies selling investments tied to cryptocurrencies. DavorCoin and BitConnect aside, the other two are: R2B Coin, a Hong Kong-based company selling investments in its own token, R2B, and telling investors the coin “will never go down in value;” And USI-Tech, a Dubai-based company, which promised triple-digit returns from investments tied to the mining of Bitcoin. 

From the date of the filing, DavorCoin has 31 days to challenge the order before the State Office of Administrative Hearings.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 5

  1. George Fredrick says:
    7 years ago

    People involve in USI-Tech made return promises. Not the company.

    Reply
  2. Hellbenders says:
    7 years ago

    Curious? What happens if they don’t comply? It is State level and not federal?

    Reply
  3. CJ A Balmediano says:
    7 years ago

    Texas tie your own people

    Reply
  4. Ron D says:
    7 years ago

    If the companies model is unsustainable then why not simply let it die out on it’s own. As the price of the token falls and daily interest rates goes down less and less people will invest while others pull out. This would happen slowly and more orderly leaving less people to get burned. This would also allow the ones that lost money an opportunity to learn from a poor investment. You come in and shut the company down and the uninformed will blame the “scam” instead of taking responsibility for their own lack of research. Trying to shut them down by force insures everyone loses all invested money and no one learns a thing.

    Reply
  5. Stanley Kuepfer says:
    7 years ago

    I feel DavorCoin is a great cryptocurrency, complete with an amazing platform and look forward to the new features to make the blockchain more stable and DavorCoin more valuable.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 5

  1. George Fredrick says:
    7 years ago

    People involve in USI-Tech made return promises. Not the company.

    Reply
  2. Hellbenders says:
    7 years ago

    Curious? What happens if they don’t comply? It is State level and not federal?

    Reply
  3. CJ A Balmediano says:
    7 years ago

    Texas tie your own people

    Reply
  4. Ron D says:
    7 years ago

    If the companies model is unsustainable then why not simply let it die out on it’s own. As the price of the token falls and daily interest rates goes down less and less people will invest while others pull out. This would happen slowly and more orderly leaving less people to get burned. This would also allow the ones that lost money an opportunity to learn from a poor investment. You come in and shut the company down and the uninformed will blame the “scam” instead of taking responsibility for their own lack of research. Trying to shut them down by force insures everyone loses all invested money and no one learns a thing.

    Reply
  5. Stanley Kuepfer says:
    7 years ago

    I feel DavorCoin is a great cryptocurrency, complete with an amazing platform and look forward to the new features to make the blockchain more stable and DavorCoin more valuable.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Price Breaks Through 50EMA After Rejection, ETH Dominance Sees Resurgence

The Ethereum price is once again gaining momentum and looks set to reach new highs. Crypto analyst Doctor Profit commented...

Scott Matherson 5 hours ago
Ethereum Targets Liquidity Above $3,000 – Price Magnet Forming

Ethereum Targets Liquidity Above $3,000 – Price Magnet Forming

Ethereum just broke above the critical $3,000 level, marking a major technical milestone after surging over 20% since Tuesday. This...

Sebastian Villafuerte 9 hours ago
99Bitcoins Q2 Report Unveils What’s Powering the 2025 Crypto Boom

99Bitcoins Q2 Report Unveils What’s Powering the 2025 Crypto Boom

The crypto market has been on a tear in 2025, and the latest 99Bitcoins Q2 State of Crypto Market Report,...

Aaron Walker 13 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

crypto scam, crypto

Happy Ending: Crypto Hacker Returns Funds From $42 Million GMX Exploit

Rubmar Garcia 1 hour ago

迷馬斯克發言引爆PNUT價格爆漲20% 迷因幣火熱本周末不能錯過的1000倍幣!

Mark Mak 3 hours ago

比特幣強勢爆發 標普創歷史新高 SPX6900與T6900代幣蓄勢待發 即將引爆新一輪行情

estherw 4 hours ago

Premium Sponsors

Press Releases

  • 4 kryptomeny, vďaka ktorým toto leto zmeníš 1000 € na...

    9 hours ago
  • 3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    10 hours ago
  • 4 kryptowaluty, dzięki którym tego lata zamienisz 1000 zł w miliony

    4 kryptowaluty, dzięki którym tego lata zamienisz 1000...

    10 hours ago
  • 4 criptomonede cu care poți transforma 1000 de lei în milioane vara aceasta

    4 criptomonede cu care poți transforma 1000 de lei în...

    13 hours ago
  • 3 altcoinuri de urmărit în a doua săptămână a lunii iulie 2025

    3 altcoinuri de urmărit în a doua săptămână a lunii...

    13 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.