Colorado's Securities watchdog issued Cease and Desist Orders against four companies promoting unregistered and potentially fraudulent securities in the state in the form of Initial Coin Offerings (ICOs).
Colorado Securities Commissioner Gerald Rome said he has signed orders to stop 18 initial coin offerings in the state of Colorado, saying that they violate the Colorado Securities Act.
Two more orders are pending.
The orders are the result of investigations conducted by an "ICO Task Force" in the Colorado Division of Securities in May targeting fraudulent activities to attract potential investors in the cryptocurrency market.
Cease and Desist Orders were issued to Global Pay Net, Credits LLC, CrowdShare Mining, and CyberSmart Coin Invest.
Global Pay Net is a company marketing an ICO via a web site to sell "GLPN Coins," which it claims to be are "full-value assets that represent one's share in the business" and that "investors receive 80 percent of the company's profits." The site also lists multiple cryptocurrency professionals as being involved in the ICO, but the Colorado Division of Securities said two of them have denied it.
The securities watchdog said it could not verify the company's claim of a filing with the Securities and Exchange Commission's database because the phone number listed for the 2011 filing was disconnected, and no business filing is registered in Washington, where the company is supposedly located.
Credits LLC allegedly promotes "Crypto with a mobile mining app that supports green energy," and is soliciting for an ICO on currency known as "Cred (CX)" through a web site.
CrowdShare Mining promotes an ICO for a cryptocurrency coin named "CrowdShare Mining (CSM)." Its web site claims to mine cryptocurrency through renewable energy sources, and promises investors 50 percent of the mining profit in the form of dividends.
The website for CyberSmart Coin Invest offers a cryptocurrency titled "CyberSmart Coin (CBST)". It claims to use robots to trade on Bitmex.com and other crypto exchanges, and also claims to have "secret" methods of profit gaining.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.