Colorado Regulators Crack Down on Four More ICOs

Colorado regulators took action against four ICOs Thursday, bringing the state’s total number of cease-and-desist orders against crypto startups to 12.

The state’s “ICO Task Force” rebuked Bitcoin Investments, Ltd, PinkDate, Prisma and Clear Shop Vision Ltd. Where the companies are based is unclear, a spokeswoman for Colorado’s Division of Securities told CoinDesk, though the unregistered securities they promoted were available to Colorado residents.

Colorado Securities Commissioner Gerald Rome told CoinDesk:

“We want to ensure that the state’s securities market and the investors that operate within it are protected from unscrupulous actors that are taking advantage of the enthusiasm surrounding this field to perpetrate fraud and in some cases outright theft. There are many companies in Colorado that are working hard to conduct their ICOs the right way, and we are eager to continue working with them to build a regulatory framework for the industry as it relates to securities.”

Rome added that the enforcement action is meant to advance Colorado as an “innovative leader” in the cryptocurrency space. Though the state’s ICO Task Force has been active since May, the cease-and-desist orders come just days after Colorado elected a crypto-friendly governor in Congressional Blockchain Caucus member Jared Polis.

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