Texas State Security Regulator takes aims at Overseas ICO with Cease-and-Desist
A state securities regulator in Texas has put out a cease-and-desist order on Hong Kong-based firm called R2B Coin alleging that they were issuing unregistered securities to Texas residents with false and misleading information.
Well, most projects have been excluding US citizens from their token sales/ICO's. What this news proves is the fact that being an overseas entity does not necessarily make you immune to regulations & risks. This case is particularly interesting because Hong Kong is an Administrative Region of the PRC.
What will be the implications of more cases like this?
