Colorado State Securities Commissioner Ordered Three Crypto-Firms to Show Case

 

Gerald Rome, the Colorado Securities Commissioner, has ordered three cryptocurrency firms to show case. It means, that the firms representatives should appear in court to explain or justify something. Such cases can be ordered in case there is a doubt or unclear issues in something.

This time, it is suspected that the mentioned companies are connected or even are the initiators of fraudulent actions to make quick money.

The investigation has been started and will be conducted under the supervision of the Division of Securities, which is a part of the Department of Regulatory Agencies.

Bionic Coin, Sybrelabs Ltd., and Global Pay Net are the ones that received orders. The first ICO is connected with making connected and misleading statements to investors, while Syperlab is connected with the promotion of the unregistered security. It was claimed that this is a cryptoarbitrage robot, however, the tool is connected with crypto-trading and isn’t a registered one.

Global Pay Net sells GLPN Coins claims they promote their ICO as a full-value asset, and claims that the investors are going to receive up to 80% of the investment. As well, the company refers to specialists in the field, who deny any connection with it. 

For now, the regulator has announced the investigation on the mentioned companies, that are allegedly promoting illegal ICOs to the residents of Colorado.

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