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The Texas State Securities Board has uncovered more suspicious activity from cryptocurrency businesses targeting residents in the state.

The agency has most recently issued a pair of emergency orders against two separate entities that according to the regulators were scamming investors, including a bitcoin mining operation and a bitcoin foreign exchange investment fund. Both startups — Bitcoin Trading & Cloud Mining Ltd. (BTCRUSH) and Forex EA & Bitcoin Investment LLC — were promising outsized returns, among other alarming behaviors, and were issued cease and desist orders, bringing the tally of such requests issued by the Texas State Securities Board to nine.

Joseph Rotunda, Director of the Enforcement Division at the Texas State Securities Board, told CCN that the latest emergency orders were part of a sweep that the agency launched at year-end 2017 when the bitcoin price was trading in the stratosphere. The sweep targets projects that raise red flags and that are promoting to Texas residents. The number of open investigations into cryptocurrency startups including ICOs has doubled since that time, from about 30 to approximately 60.