The Alabama Securities Commission alleges that BlockFi has funded cryptocurrency lending in part through the sale of unregistered securities.
The Texas State Securities Board and Alabama Securities Commission filed an emergency action against Ultra Mining, alleging it offered unregistered securities by promising to double investments in a cloud mining scheme.
Alabama's securities agency has led the way on enforcement against ICO fraudsters, using investigation techniques pioneered chasing gun runners.
The U.S. state of Alabama has issued cease-and-desist orders to three ICOs that were allegedly soliciting residents with unregistered securities.
Joe Borg thinks the issue with bitcoin is not technology, but lack of consumer awareness about the risks involved.