Texas State Securities Board issues an Emergency Cease and Desist Order against DavorCoin

DavorCoin, pimp the King of Lending platform after the fall of Bitconnect finds itself in hot water with the Texas State Securities Board. On February 2nd 2018 Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against the cryptocurrency lending platform.

Here is a publication of the article from the Texas State Securities Board
https://www.ssb.texas.gov/news-publications/davorcoin-latest-cryptocurrency-platform-hit-order

The picture looks gloomy for DavorCoin and its investors, the coin has tank from its high of $177.00 USD to currently trading at $4.43 as rumors of Cease and Desist Order starting circulating. For now it seems like the days of all these Lending platforms are numbered as the regulators have taken a proactive approach of ending all operation before they gain any traction.

For Bitconnect and its investors the agony continues but there has been some interesting developments as the Class action lawsuit has been gaining ground with other lawsuits on the way. Things can get rather sad for some of the big players and promoters as the Court may go after whatever they own to help reclaim some of the losses. What puzzles me most with these promoters, they have all maintain silence as to the backroom staff and has continued to articulate that Bitconnect has paid its investors. I have a feeling that the judge would make an example of some of these promoters that remain defiant as a way of deterring any future scheme of this operation.

In the meantime, DavorCoin and its Developers has 31 days to either cease operation or respond to the Texas board outlining their operation and get their operation registered and in line with the standard required of any security.

The next couple weeks would be very interesting for these Lending platforms as regulators continue to apply pressure.