Texas Orders Suspected ‘Cryptocurrency Bank’ Scam To Leave State

Texas regulators have issued an unconditional cease and desist order to the self-described ‘cryptocurrency bank’ AriseBank on Friday, Jan. 26, ordering it to halt any services to the state’s residents.

In a formal press release Friday, the Texas Banking Commissioner Charles G. Cooper implied the business, which has generated considerable controversy with its alleged offerings, does not in fact offer “banking services.”