Just days later, on Jan. 4, the state of Texas issued a cease and desist order against BitConnect for the selling of unlicensed securities which has led to the crash of the BCC token and the platform's closure. (links2exchange.net)
The United Kingdom and Malaysian authorities have issued statements seeking to highlight risks associated with initial coin offerings, and discourage the distribution of unlicensed securities through ICOs. (dailybitcoinnews.com)
The Philippines Securities and Exchange Commission had filed a cease - and - desist order against four companies associated with Black Cell and Krops in late January of this year, also for offering unlicensed securities in the form of the Krops token. (links2exchange.net)