Tennessee securities regulators have warned consumers about Bitcoiin B2G, which has initiated the sale of unregistered securities in New Jersey. Bitcoiin has nothing in common with Bitcoin, the largest digital currency.
On March 7, the New Jersey Securities Bureau issued an order to terminate the ICO of the cryptocurrency platform Bitcoiin due to fraudulent activity. Bitcoiin offered investment in its cryptocurrency through a website that stated that each B2G coin would be worth $388 by December 2018.
The Tennessee Department of Commerce and Insurance (TDCI) is warning that the company conducting the B2G coin ICO is not registered with the securities division. The regulator also urges consumers who have invested in this type of cryptocurrency to immediately report it to their organization.
“Pursuing into investments you don't fully understand can end badly. We encourage state residents to do their due diligence on the risks associated with investments they are considering,” said TDCI Assistant Representative Frank Borger-Gilligan.
Bitcoiin is seeking to capitalize on the popularity of Bitcoin and is offering pre-sales of its own cryptocurrency and other tokens on its website, through social media and through its purported spokesperson, actor Steven Seagal.
In February, a Hollywood actor popular in the Nineties publicly endorsed Bitcoin ICO. His team tweeted: “Stephen just became the official cryptocurrency ambassador for Bitcoin 2nd Generation.”
According to http://www.rttnews.com
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