The Securities and Exchange Commission on Tuesday said it obtained a court order, unsealed late Monday, that permits a receiver to seize cryptocurrencies held by Dallas-based AriseBank, which allegedly marketed and received the proceeds from the coin offering. The SEC alleges the company and its executives committed fraud by misleading investors about its ownership of a federally insured bank and its ability to offer customers a VISA card backed by “any of 700-plus cryptocurrencies.”
via SEC Moves to Stop $600 Million Digital Coin Offering – WSJ
