New Jersey Officials Stop a Cryptocurrency Investment Firm from Operating In the State



Crypto



New Jersey lawmakers have sent a cease and desist letter to a firm called Bitstrade which claims to be a registered U.S. financial startup and offers digital asset banking services. Officials from New Jersey say Bitstrade unlawfully provided investors unregistered securities in the form of a pool that claims to guarantee up to 10 percent returns which accrue daily. Authorities from the Bureau of Securities and Attorney General’s office have found that “Bitstrade provides no basis to guarantee investment profit,” and “Bitstrade is not registered to sell securities in New Jersey.”



