The order seems justified given the information about the company or lack of it. Of course the Texas authority has no jurisdiction over a company based in the EU, or the UK in particular. Nevertheless, EU law specifically requires that companies provide the information that the Texas authority points out is completely missing. Hopefully the corresponding UK authorities will take up the matter, but I strongly suspect we are going to have a lot of bad news over this issue in the next few days.

This highlights the need for investors to closely examine potential investments. I have noted that many ICO proposals are sadly lacking in critical information of this nature. I have been particularly alarmed by ICO proposals involving property investments that essentially say that in the event of winding up the enterprise all assets become the property of the founders, to be disposed of as they please.

Buyer beware remains a constant in any financial relationship.