New Jersey Calls Two ICOs ‘Fraudulent Securities,’ Issues Stop Order

From coindesk.com

New Jersey’s Bureau of Securities has announced enforcement action against two state-based initial coin offerings. Today, Canadian and American regulators coordinated under the North American Securities Administrators Association (NASAA) and executed by New Jersey officials have issued emergency orders against Zoptax and UNOcall, two NJ-based ICOs. Part of “Operation Cryptosweep,” the Bureau of Securities alleges both ICOs were offering fraudulent securities offerings. Zoptax was seeking between $500,000 and $3.4 million for its Zoptax Coins while UNOcall was issuing tokens and investments in its staking ... (full story)