The California Department of Financial Protection and Innovation has ordered the cryptocurrency trading platform CryptoFX to cease operations for violating the state's securities laws
ChainCatcher news, the California Department of Financial Protection and Innovation (DFPI) has ordered the cryptocurrency trading platform CryptoFX to cease operations, stating that it violated California securities laws and accused CryptoFX of offering and selling unqualified securities while making substantial false statements to investors.
According to dozens of complaints submitted to the DFPI, CryptoFX failed to deliver the promised returns on its claimed investments, thereby deceiving investors and causing them to suffer significant financial losses. (Source link)
ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
