The New Jersey Securities Bureau has announced the issuance of restraining orders against two ICO projects Zoptax and UNOcall.
Canadian and American regulators, coordinated by the North American Association of Securities Administrators (NASAA), with the assistance of the state of New Jersey, issued restraining orders against the Zoptax and UNOcall ICO projects.
As part of the “Operation Cryptosweep” initiative, the New Jersey Securities Bureau revealed that both ICOs were responsible for fraudulent securities offers. Zoptax tried to raise between $500,000 and $3.4 million through the sale of its Zoptax Coins tokens, while UNOcall offered to invest in the tokens it issued, promising daily interest income in the range of 0.18% to 0.88%.
In a statement by the Attorney General of New Jersey, Gurbir S. Grewal it is said that the market rules apply to all enterprises, regardless of what industry they work in:
“The Securities Bureau is ready to ensure compliance with our laws on investor protection in cases related to the initial placement of tokens and cryptocurrency investment schemes. As innovations in the cryptocurrency-related online investment market continue, industry participants should understand that all these laws apply to them as well.”
Since January 2019, 85 cases, 330 requests and investigations have been initiated as part of Operation Cryptosweep, as well as eight enforcement actions, including the issuance of restraining orders against Zoptax and UNOcall.
Recall that in April, the Texas Securities Board banned the operation of the FxBitGlobe cryptocurrency trading platform, which misled local investors, and in February, at the request of the same regulator, four companies stopped selling tokens