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The Department of Colorado Regulatory Agencies (DORA) has revealed plans to evaluate three encryption-based companies that offer "unregistered initial currency offers" in the state as part of an investigation ongoing on a practice used by fraudulent companies to defraud members of the public.
The survey is conducted by members of the Securities Division, part of the Department of Regulatory Agencies (DORA), an "ICO Task Force" convened by the Commissioner in May. [19659003] DORA announces part:
"The companies that received the orders are Bionic Coin, Sybrelabs Ltd. (also known as Cryptoarb) and Global Pay Net (also known as Glpn Coin and Gpn Tokens.) Previous orders have been forwarded to Bitcoin Investments Ltd. (which also carries out activities such as Db Capital), Estatex, Bitconnect Ltd. and Magma Foundation (which also carries out activities such as Magma Coin). "
The Commissioner of Rome signed the "orders to show the cause" recently that it is a notice sent to companies to defend their case in court, explaining their business operations. Judicial orders were issued on Friday 24 August 2018, but at the time of the press none of the three companies responded, the report noted.
Bionic Coin, one of the companies surveyed promises investors who invest in their token (BNC) a wild growth of their "money without any effort". The site continues to list the logos of media partners such as Forbes magazine, but currently there are no company mentions or references on the sites it claims to promote. The site also encourages users to promote the currency on social media for the possibility of receiving in exchange for tokens.
The plot is the same for Sybrelabs and Global Pay Net. Sybrelabs Ltd, also known as Crypotarb, encourages investors to promote the investment pool and "offers ample percentages of profits for a minimum participation of $ 25.00, up to solicit "active investment portfolios" of $ 25,000 or more, "according to the report.
It is said that Pay Net is an international financial platform with its native token (GLPN) that identifies ownership in the business. The company also promises a share of 80 percent of the investor business and lists cryptocurrency experts as consultants, two of which have denied involvement with the company.
Featured image of Shutterstock.
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